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This account is required to open any other type of account and you must keep $5.00 in this account at all times. This is your "share" of the credit union. You can open a Share Savings for any purpose - saving for a new car, a vacation, a nest egg, or any major expense. You can have multiple Share Savings accounts at one time.
Regular Share Savings accounts earn dividends (interest) that are paid quarterly. Our current rates are available here.
Money can be deposited to a Regular Share Savings account in person, via shared branching, via "Magic" Line and CU Online transfers, via Payroll Deduction and ACH, and ATM deposit.
Do you have difficulty budgeting for holiday shopping? We can help! Setup payroll deduction to save all year long. In October, the funds in your Santa Share Savings account are transferred into your checking or savings account so that you can use them to do your holiday shopping. You don't have to worry about scrambling for money for gifts AND you earned dividends on your gift money!
A Share Certificate, also called a Certificate of Deposit or CD, is a safe, low maintenance way to earn a higher dividend on your money. You agree to deposit your money for a specific period of time, from 3 to 60 months, and the Certificate earns dividends based on an established rate. Typically, the longer the term, the higher the rate. During the term, the funds cannot be withdrawn without a penalty. At the end of the term, you have the option of withdrawing the funds, or rolling them over into another Certificate.
Click here to see our available terms and current rates.
Click here for our Truth In Savings Disclosure regarding Share Certificate Accounts.
It's never too early to start saving for your child's education. One way to do this is with a Coverdell Education Savings Account (CESA). Contributions to these accounts are not tax-deductible, but the tax-free earnings potential is tremendous, and the withdrawals are tax-free also - as long as the distributions are used for education.
Take a look at the earnings potential: if you contribute the maximum for a newborn child every year until the child is 18 and you earn an average investment rate of 6%, the account will grow to about $70,000.
And the money isn't just for college - it can be used for qualified elementary and secondary educational expenses.
For more information about yearly limits and qualifications, visit the IRS website or contact Lisa Nickell at 800-543-2283, ext 215.
Introduced by the Federal Government in 1981, Individual Retirement Accounts (IRAs) help people save for retirement. The sooner you begin saving, the more your money will grow. The more your money grows, the sooner you can retire!
IRA earnings are tax-deferred. The IRA grows without taxation until you make withdrawals. On top of that, all or part of your IRA contribution could be tax-deductible (check with your tax advisor.
For more information about the types of IRAs we offer, contact Lisa Nickell at 800-543-2283, ext 215.
Want to earn a competitive rate while keeping your money liquid? Then you're looking for our Money Market Savings Accounts. These accounts, like all our other accounts, are NCUA Insured & privately insured through Excess Share Insurance. Fund your account easily with automatic deposits and use CU Online to view your account balances, transfer funds, and more!
Call Lisa Nickell at 800-543-2283, ext 215 for more information.