Start saving now… not later, tomorrow, or next week … NOW!
When it comes to saving, NOW is the operative word. It really is possible to bring your dreams to life if you commit to saving early on. Open a savings account today and begin to build a fund, or series of funds, for all that you desire. Step by step, you will move toward achieving your dreams.
Extra Credit Union offers you four, flexible savings accounts to help you to save for your goals. We can guide you in selecting the one that will help you the most and to develop a budgeted savings plan with automatic transfers of money to your savings account.
Our four savings accounts include:
Opening a savings account automatically makes you a member of Extra Credit Union, which offers access to all of our services. As a member, get a checking account, borrow money, apply for a loan, get access to service providers such as insurance services, financial consulting services, and our mortgage expert, plus information about your credit report.
Every Extra Credit Union membership starts with a savings account. Have fun saving and keep your accounts organized by creating additional savings accounts and individually naming each to keep track of your savings, such as for:
An Extra Credit Union savings account enables you to:
- Become a member and open your account with a minimum deposit/purchase a share in the credit union of $5
- Add optional sub-accounts as needed
- Incur no minimum balance
- Earn interest that is compounded and paid quarterly on balances over $100
Come open a savings account today!
Youth Savings Account
Help young people up to age 17 engage in the fun of saving, reward them for saving, while helping them earn interest on any deposit. A parent, aunt, uncle, grandparent or friend can open a youth savings account, even for a baby, and help save for their future.
A youth savings account operates just like our savings account:
- Open the account with a one-time, $5 membership deposit required to purchase a share of membership in the credit union
- Deposits and withdrawals can be made in any amount
- Account interest is compounded and paid quarterly
- Through this account, you establish membership in Extra Credit Union with access to all of our services
Plus, members under 11 get a special gift package, which includes the following:
- Savings passbook
- Punch card
- Savings box
- Tote bag
Open a youth savings account today!
Certificates of Deposit
Are you yearning to reach a longer-range financial goal, such as saving up for a home or a cruise? A longer-term savings plan, such as certificate of deposit, will help you earn higher interest.
A CD guarantees that you will save for a particular time – 180 days, 12 months, 24 months, 36 months, or 60 months – and you’ll keep funds in your account without touching it, as it’s for your future. Choose the amount you want to invest and the period of time to keep the funds on deposit, remembering that the longer the term of your CD, the higher your rate of return.
Here’s how certificates of deposit work. They:
- Are a secure way to invest
- Provide a higher and guaranteed interest rate than a savings or money market account
- Have a minimum balance requirement of $500
- Offer terms from 180 days to 60 months
- Enable you to cash in your CD with interest earned or roll it over into another CD when the maturation date arrives
- Do not allow for early withdrawals
Money Market Account
Are you thinking of earning more interest than a savings account with ready access to your funds? Open up a money market account. Make higher dividends based on your savings balance, and the higher your savings tier, the more you’re paid.
A minimum of $5,000 enables you to open and maintain an account, and you may withdraw unlimited funds whenever needed with no penalty, without dropping below $5,000.
Here’s how a money market works:
- Start with a minimum $5,000 deposit (For the youth money market, the minimum balance is $2,000.)
- A balance between $20,000 and $49,999 earns a higher interest rate
- A balance of $50,000+ earns our highest money market interest rate
- Interest is compounded and paid monthly
* Per federal regulations, transfers or withdrawals from an Extra Credit Union savings account are limited to six per calendar month.