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Share Accounts
As a Credit Union member, you are also an owner. Because of this, we refer to your savings account as a "share account." Dividends are compounded and paid quarterly using the daily balance method of dividend calculation. Call the Credit Union for current dividend rates and annual percentage yields or click on Savings Rates above.
Your savings are federally insured by the NCUSIF (National Credit Union Share Insurance Fund) up to $100,000.
Additional Savings Accounts
Sometimes our members ask if they can set up separate, segregated accounts for special purposes such as saving for a vacation. We can do this for you! The account will be listed as a separate "sub-account" under your existing member number but it is separate from your regular savings account balance so that the funds aren't commingled.
Christmas Club
Open your Christmas Club anytime during the year! Interest is calculated on the actual daily balance and is paid quarterly. Your check will be mailed to you or deposited into your checking account (at your request) in mid-October so you can get started with your holiday shopping! There are no restrictions on the account - deposit as little or as much as you like!
Money Market
Our Money Market account is designed for people who want to earn a better yield on their savings without the restrictions of a certificate of deposit. With our Money Market account the dividend rate and yield are determined by the amount of your account balance. The only restriction is that you are allowed only three free withdrawals per month and you must open the account with a minimum deposit of $2,500. Additional monthly withdrawals are assessed small $5 fee. See Savings Rates above.
Individual Retirement Account
IRAs are a safe and simple way to save money for your retirement. We offer an IRA share account with a varying interest rate or you can lock in a rate for a specific period with our IRA certificates. Traditional, Roth and Education IRAs are available. Call the Credit Union for more information at 720-493-1270.
- Traditional IRA
- This is the only tax-deferred account into which other qualified plan funds may be transferred.
- You may convert funds to the Roth IRA, however conversions are taxable transactions.
- Depending on your income level, this account may still allow a tax deduction for annual deposits.
- Qualified tax-favored withdrawals are allowed for certain educational, medical and first time home purchases.
- See your tax advisor to determine which IRA is right for you and if it makes financial sense to convert your traditional IRA funds to a Roth IRA.
- Roth IRA
- Offers tax-free withdrawals to the person who allows the funds to grow tax-deferred for five years and until the age 59½.
- The spousal beneficiary may transfer the funds into their own Roth IRA and continue tax-deferred savings even further after the owner's death.
- The maximum annual amount a person can save in the Roth is $2,000 depending on the level of earned income.
- Qualified tax-favored withdrawals are allowed for certain educational, medical and first time home purchases.