Saving & Investing

Share Certificates
Education Savings Accounts
Individual Retirement Accounts (IRAs)
US Treasury Savings Bonds

 

If you need help calculating a personal budget, retirement strategy, or savings plan, check out CUNA's Financial Calculators page.

Share Certificates
CFCU Community Credit Union offers share certificates, which are longer-term investments yielding a higher dividend than regular savings. Certificates are available for a minimum investment of $500 for terms from 6 to 60 months.

Since rates on share certificates change periodically, you should call any of our offices for our current rates and terms. There may be a penalty for early withdrawal of funds. Check out our current Dividend Rates.

Education Savings Accounts
A Coverdell Education Savings Account (ESA) is an account created as an incentive to help parents and students save for future educational expenses. It allows you to deposit up to $2,000 per year for an eligible beneficiary (child) without being taxed on earnings from interest, dividends, appreciation, etc.—as long as the child uses the funds before the age of 30 for qualified educational expenses. The account must be started and all contributions made before the child is 18. An electronic brochure is available to help you learn more about ESAs. If you have additional questions, please call 607-257-8500.

Note: The age 18 and age 30 limitations are waived if the beneficiary has special needs. This waiver allows the ESA to be funded after age 18 and allows the assets to remain in the account after age 30.

Individual Retirement Accounts (IRAs)
IRA accounts shelter earnings from taxes until the depositor retires or withdraws the funds. They provide important tax advantages, along with an opportunity to build a more comfortable retirement. CFCU IRAs have a one-time new account fee, but no service fees or maintenance fees, and require only a $1.00 minimum balance to earn dividends.

IRA dividends are calculated by the average daily balance method, which applies a periodic rate to the full amount of the principal in the account each day. For current IRA rates, check out our Dividend Rates.

Several electronic brochures are available to help you learn more about IRAs including which one might be right for you. If you have additional questions, please call 607-257-8500.

United States Treasury Savings Bonds

Effective January 1, 2012, Series EE or I Savings Bonds are no longer available for over-the-counter purchase at CFCU or any other financial institution. Savings Bonds must now be purchased online. They're safe, offer a relatively good rate of return and do not require large investment amounts. Bonds are a popular way to save toward an education and also make great gifts. You can choose your CFCU account to make recurring purchases or redeem part or all of your savings bond(s). For more information, visit treasurydirect.gov.