Savings Accounts

Where can I find a surcharge-free ATM?

You can find a surcharge free ATM location in your area using the ATM locator. There are more than 24,000 surcharge free ATMs nationwide. All US Bank on-premise ATMs are surcharge-free.

Why is there a minimum balance of $10?

The $10 minimum balance represents two membership shares at $5.00 each. It is not a fee.

Can I get an ATM Card?

Yes, just give us a call at 800-452-6021 and we will send you your free ATM Card.

Holiday Savings

What is the maximum deposit I can make annually on Holiday Savings?

$3,600.

Can I withdraw from my Holiday Savings in case there is an emergency?

Yes, you can make withdrawals from your Holiday Savings. However, there will be a low $5 withdrawal fee per transaction.

Checking

Do you offer Overdraft Protection?

Yes, we do. Apply for a line of credit and when approved, you will be protected from overdrafts up to your approved limit.

Do I have to be a member to apply for a checking account?

Yes, you do. It’s easy and simple. When you apply for a checking account, we will process your membership at the same time. So, you do not have to complete each process separately.

How can I reorder my checks?

Click here to order checks online or call us at 800-452-6021.

Do I get a Debit Card? Do I have access to any ATMs?

Yes, you can. Give us a call and we will send you your free debit card. You will have access to more than 24,000 surcharge- free ATMs nationwide.

How do I check my balance or make a transfer?

Check your balance or make a transfer by using our free Online Banking, Mobile Banking, Text Banking, or call one of our friendly member service representatives at 800-452-6021. You can also get your balance information at one of surcharge-free ATMS. Click here to find the nearest ATM.

Individual Retirement Account (IRA)

What is a traditional IRA?

A traditional IRA is a type of retirement plan that has been in existence since 1975. Traditional IRAs offer tax-deferred earnings, and the possibility for tax-deductible contributions. These tax advantages make the traditional IRA a powerful tool in creating a balanced, long-term savings plan.

How does the traditional IRA work?

You can contribute to a traditional IRA if you earn compensation and you will not reach age 70-1/2 by the end of the year. If you file a joint tax return, you can treat your spouse’s compensation as your own (except your combined contributions cannot exceed your combined compensation). All earnings in the traditional IRA are not taxed until they are withdrawn. The ability to defer taxes on the earnings, and to withdraw in a year when you may be in a lower tax bracket, can mean more after-tax dollars for your retirement.

How does the traditional IRA work?

You can contribute to a traditional IRA if you earn compensation and you will not reach age 70-1/2 by the end of the year. If you file a joint tax return, you can treat your spouse’s compensation as your own (except your combined contributions cannot exceed your combined compensation). All earnings in the traditional IRA are not taxed until they are withdrawn. The ability to defer taxes on the earnings, and to withdraw in a year when you may be in a lower tax bracket, can mean more after-tax dollars for your retirement.

How much can I contribute to a traditional IRA?

Please refer to the IRA Contribution Limits Table at the top.

Can I still contribute to a traditional IRA if I participate in an employer-sponsored retirement plan?

Yes, your participation in an employer sponsored retirement plan will not affect your ability to contribute to a traditional IRA (assuming age and compensation requirements are met). However, higher-income earners will lose their ability to deduct their traditional IRA contributions if participating in an employer sponsored plan.

If I already have a Roth IRA, can I have a traditional IRA, too?

Yes, you can. However, the limits on annual contributions described on the previous page apply to any combination of traditional and Roth IRA contributions that you make for the year.

How much can I deduct?

If you are single, or married and neither spouse is an active participant in a retirement plan, your traditional IRA contribution is deductible regardless of income. If you or your spouse is an active participant, you may deduct contributions only if your income is below certain limits. Smaller deductions are available if your income is within the phase-out range, which is determined by your filing status. Higher-income earners with retirement plans may still contribute, but deductions are not available if income is over the phase-out range. If you have questions about your specific tax situation, please consult your tax advisor for an interpretation of how these rules apply to you.

Can I get any tax credits for making IRA contributions?

You may be able to receive a tax credit for making contributions through tax year 2006. The full credit is 50 percent of the first $2,000 of contributions. The full credit is available for joint filers who have joint modified adjusted gross income (MAGI) up to $30,000, heads of households with MAGI up to $22,500, or other filers with MAGI up to $15,000. Smaller tax credits are available for joint filers with MAGI up to $50,000, heads of households with MAGI up to $37,500, or other filers with MAGI up to $25,000.

Will I owe income taxes when I withdraw from my traditional IRA?

Yes, you will owe income taxes when you withdraw from your traditional IRA. However, if you make nondeductible contributions to a traditional IRA, a portion of each withdrawal will be treated as the nontaxable return of these contributions.

If I make an early withdrawal from my traditional IRA before age 59-1/2, do I pay a penalty?

In general, you must pay a ten percent tax on early distributions or withdrawals before age 59-1/2. But the early distribution tax does not apply in the following situations:

  1. Amount is rolled over or directly transferred to another traditional IRA
  2. Amount is properly converted to a Roth IRA
  3. Withdrawal of an excess contribution before the tax return is due
  4. Withdrawal of an excess contribution after the filing deadline if certain conditions are met
  5. Payment is made to your beneficiaries after your death
  6. Withdrawal of up to $10,000 is for first-time home purchase
  7. Amount is used to pay for qualified post-secondary education expenses
  8. Amount is used to pay for medical expenses in excess of 7.5% of adjusted gross income (AGI)
  9. Amount is for pre-59-1/2 periodic payments
  10. Distribution is to an owner who is disabled (as defined by the IRS code)
  11. Distribution is for medical insurance premiums during unemployment that lasts 12 weeks or longer
When must I begin taking distributions from my traditional IRA?

You must begin taking required minimum distributions from your traditional IRA at age 70-1/2. The minimum distributions each year will be computed using an IRS formula. You are allowed to delay the first year’s payment until April 1 of the following year, but you will receive two year’s worth of payments in your 71-1/2 year if you choose to delay.

Can I move funds from a qualified retirement plan to a traditional IRA?

If you are entitled to receive an eligible rollover distribution from an employer’s plan, you can continue deferring taxes by moving the money into a traditional IRA. The best way to do this is to inform the plan administrator that you want the funds moved directly to your traditional IRA in a direct rollover. The plan administrator will inform you before making an eligible rollover distribution.

Can I move money from a traditional IRA to a Roth IRA?

You can move money from your traditional IRA to a Roth IRA if your adjusted gross income for the year is $100,000 or less, and you are either single or married filing a joint tax return. In the year you convert, you will have to pay federal income taxes on the amount that you move, except the portion that is treated as the return of your nondeductible contribution. You may also be subject to state income taxes.

What happens to my traditional IRA after my death?

You may designate one or more beneficiaries to receive your IRA after your death. If your spouse is your beneficiary, he or she may directly transfer your traditional IRA to his or her own IRA tax-free. In addition, all beneficiaries have the option of taking a lump sum payment, and in most cases, they will be able to take periodic payments over a number of years. Any tax-deferred money in your traditional IRA at the time of death will be taxed when it is distributed to your beneficiaries.

Certificate of Deposits

Is there a maximum limit on how much I can put into my CD?

No. However, our deposit accounts are federally insured up to $250,000 by the NCUA. For more information on Certificate Rates, click here.

Is there a minimum limit on how much I should put into my CD?

Yes, the minimum opening balance is $1,000. For more information on Certificate Rates, click here.

Can I make a deposit after the CD is opened?

No. Once the CD is opened, you may not make additional deposits to your account. You may, however, make a deposit or a withdrawal during the 10-day grace period after the CD matures.

What happens when my CD matures?

At maturity there is a 10-day no-interest, no-penalty grace period for partial withdrawal or closure of your certificate. At the end of the 10-day grace period, the certificate balance will automatically renew for the same term as the maturing certificate, but at the rate then in effect for the same class of investment.

At maturity, can I reinvest my CD for a different term? If I can, how would I do that?

Yes, you can. Simply give us a call at 800-452-6021 within the 10-day grace period, and tell us the term of your reinvestment.

Can I withdraw from my CD Account in case there is an emergency?

Yes, you can. However, because CDs are term accounts, there will be a penalty for an early withdrawal. To understand how the penalty is determined, please read our Certificate Disclosure.