Share Accounts (Savings)
Current Share & CD Rates En Espaņol
Share Accounts – The basic credit union savings account. Dividends on share
accounts are compounded and credited quarterly. Dividend rates are determined by the Board
of Directors. To open a share account, all you need is a minimum initial deposit of $25
and proof of membership.
Share Certificates – A savings account with a higher interest rate than
share accounts, under the condition that you cannot withdraw money from a certificate
before its accrual date without penalty. SCCU offers Share Certificates for three-month,
six-month, twelve, eighteen and twenty-four month periods. Click
here to see the current month’s CD rates.
IRAs -- A traditional IRA, or Individual Retirement Account, is a tax-deferred
personal retirement fund. For 2006 and 2007 you can contribute up to $4000.00 a year at
present ($5,000 if you're age 50 or older), and depending on how much you earn and your
marital status, the money you invest may be tax-deductible (deductible IRA) or not
(non-deductible IRA). SCCU also offers Roth IRAs and education IRAs. These have different
tax implications and it's best to consult with a tax professional to determine what is
best for you. You may purchase IRAs at SCCU in the form of Shares or Share Certificates.
IDAs -– IDAs are matched savings accounts for low-income individuals and
families to save towards asset ownership. For more information on IDAs, click here.
 
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