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Village Credit Union
Savings Programs
Village
Credit Union offers a variety of savings programs, including:
Share Accounts
At your credit union, a savings account is called a Share Account.
Opened with a $10.00 deposit, a Share Account declares your
membership and entitles you to take advantage of your credit union's
many services.
Additional
deposits to your share account can be made through payroll
deduction, direct deposit, or by visiting your credit union office,
by direct mail or by telephone.
Dividends
(interest) are calculated daily and paid quarterly to your share
account and are based on your account balance. All deposits and
withdrawals are made without penalty.
All share
accounts are insured by the National Credit Union Administration (NCUA),
an agency of the U.S. Government, up to $100,000.
In addition to
your share account, there are several other means by which to save.
Money Market Account
Make your savings work even harder. Village Credit Union offers
Money Market Savings Accounts for members who want the flexibility and
soundness of a savings account, with the added advantage of higher
earnings. The Money Market Account provides an extremely sound
investment with no possible principal loss.
Your returns will be higher than most
comparable bank accounts. And with the
dividends based on a three tier method, the more you save,
the more you earn. A minimum balance of $2500.00 is required to open
an account.
Tier 1 - $2,500 - $9,999
Tier 2 - $10,000 - $24,999
Tier 3 - $25,000 and up
You can withdraw or transfer money to
another account up to three time per month or receive as many as three
checks per month. If you make more than three withdrawals in a month
there is a $10.00 excessive withdrawal fee. Minimum withdrawal
amount is $100. There is no limit on deposits.
Certificate of Deposit (CD)
With just $1,000
you can open a 6, 12 or 24 month CD paying higher rates than basic
savings, or enjoy higher rates when you invest $5,000 or more.
With no risk to your principal amount, and high-paying dividends,
CDs are a wise investment solution.
Individual Retirement Accounts
Opening an IRA at your credit union can provide you with financial
security during retirement. For many IRA owners, contributions are
tax deductible and all earnings are tax deferred.
At Village
Credit Union,
rates for
IRA's are more competitive than those offered
elsewhere.
Contribution
limitations are determined by the federal government.
Roth and Education
IRA's are also available at your Credit Union
If you have
questions about IRA's, drop by our office, or email
Info@VillageCU.org
to learn more.
Holiday Share Accounts
Saving throughout the year with a Holiday Share Account not only
provides members with dividends, it also provides built-in funds to
cover expenses of the holiday season.
Dividends
are credited annually for this account. No minimum deposit is
required. Deposits can be made by payroll allotment, in person, or
by mail.
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CU Suceed
CU Succeed is a program
designed for teens ages 13-17 that provides valuable financial
education and information. Rather than a one-size-fits-all
solution, CU Succeed focuses specifically
on the financial needs and interests of young adults.
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Kirby Kangaroo Club
Kirby Kangaroo Club is a
share account for children 12 and under. Children in the club
receive a special passbook to keep track of deposits. The
account earns dividends on a lower balance than a regular share
account. This allows children to save smaller amounts and still
see their savings grow and earn money. |
If you have
questions about the Kirby Kangaroo or CU Succeed clubs, drop by our
office, or
e-mail
Info@VillageCU.org
to learn more.
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