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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 $25.00 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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