Savings

Savings

Savings Rates
Rates on EFCU's different savings products.

Savings Calculators
Use these calculators to determine dollar amount, interest earnings and time frame.

Share/Savings Account
The foundation of your membership at EFCU is an initial $25.00 deposit that represents your Share/Savings Account in the credit union and gives you membership. The money kept in this account earns dividends that may be paid quarterly. The more you save, the higher your dividend earnings.

Special Share/Savings Account
Save for special activities or events with a special share/savings account. Set up separate accounts for college funds, a new home, a second car, taxes, vacation, or any other special cause you want to save money for.

Certificates of Deposit
A Certificate of Deposit (CD) is a special type of deposit account that offers a higher rate of interest than a regular savings account. NCUA-insured CDs assure the safety of your initial investment while allowing interest to accumulate over a range of time periods. When you purchase a CD, you invest a fixed sum of money, a minimum of $1000, for a fixed period of time; 6 months, 12 months, 18 months, 24 months, 30 months, or 36 months. Generally, longer terms receive higher interest rates.

Individual Retirement Account
No matter how young or old, you can start saving today with an Individual Retirement Account (IRA) from EFCU. An IRA is a personal savings plan that offers you tax advantages to set aside money for your retirement or, in some plans, for other expenses. EFCU offers you Traditional and Roth IRAs:

Traditional IRAs are powerful tools in creating a balanced, long-term savings plan that will help provide safety and security for you and your family for years to come. Contributions may be deducted from your taxable income, reducing the income taxes you pay now.
Roth IRAs offer members an easy and safe way to plan for the future. Your contributions are not tax-deductible but the earnings within the IRA are tax-free as long as your funds have been in the account for at least five years and you are either over age 59 �, disabled, or buying a first home.

CU Preferred Investments
Sound financial decision-making and implementing strategies have become more complex because of the extensive amount of financial information available. We make it our responsibility to get rid of the complexities and provide you with an effective strategy. We partner with you: you tell us your goals; we'll provide the solutions; you control the direction.

Securities are offered through Financial Network Investment Corporation, a registered broker/dealer and member SIPC. Financial Network is not an affiliate of this organization. Investments are not NCUSIF insured. May lose value. No credit union guarantee. Not a deposit. Not insured by any federal government agency.

Call 651-765-6778 or click here for more information on CU Preferred Investments. By clicking on the link you are leaving Electrus FCU's web site.

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