CDs (Term Share Certificates)
Members interested in an investment account can take advantage of a variety of competitive-yield certificates. Generally, a Harrison FCU certificate always earns you more than a regular savings account, because you deposit a specified amount for an established period of time. Dividends earned are paid monthly.
|6 Month IRA or Share Certificate||0.90||0.90||6|
|12 Month IRA or Share Certificate||1.10||1.11||12|
|24 Month IRA or Share Certificate||1.45||1.46||24|
|36 Month IRA or Share Certificate||1.75||1.76||36|
|48 Month IRA or Share Certificate||2.10||2.11||48|
All rates are current as of January 15th, 2019 and are subject to change without notice.
APY* = Annual Percentage Yield
Investing in certificates is a safe, simple way to earn a competitive rate on your money.
- Minimum deposit of $500.00 is required.
- Certificate maturities vary from 6 months to 4 years.
- Dividends are compounded and credited monthly.
- Substantial penalty for early withdrawal.
IRA accounts have recently gained popularity due to some new and exciting changes to the rules/requirements governing IRA accounts. Harrison FCU offers all types of IRA plans, including the traditional, Roth and Educational IRA programs. There are NO FEES, period.
TRADITIONAL - A traditional IRA program is an account that allows you to defer taxes on your earnings until you withdraw the funds. Based on your personal tax situation, you may receive a tax deduction for this type of deposit. You must start withdrawing funds once you reach the age of 70 and 1/2.
ROTH - This NEW IRA program is gaining popularity because the account allows all earnings to grow tax-free in this account and there is no age that you must start distributions. This IRA is not tax-deductible, however, it does offer some true advantages over a Traditional IRA program. One of the benefits for some is the provision for "qualified distributions". A qualified distribution from a Roth IRA means the account must have been opened for at least 5 years and you are either older than 59 1/2, disabled, or a first time home buyer($10,000 lifetime withdrawal limit). Another benefit of the new Roth IRA is that there is no required distribution, so if you don't need the funds you do not need to take any withdrawals from the program.
EDUCATION IRA - This IRA account allows you to save for upcoming educational expenses for your children. The maximum that can be deposited into an Educational IRA per child from all sources is $500 annually. The contribution is not tax-deductible. Instead, earnings grow tax-free and you pay no taxes or penalties on the money withdrawn to pay for qualified higher education expenses, such as tuition and fees, before the child reaches age 30.
Because these accounts have many different features and the deposits are based on your personal tax situation, please contact a member service specialist the credit union office for more information.
Harrison FCU has a CUNA certified financial counselor on staff available to assist with your financial success. Please call us to make a FREE appointment with your financial counselor to discuss:
- College Planning
- Credit Building
- Debt Consolidation
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