Let’s start at the beginning! Your base account is your IECU Savings Account. This is the very first account you’ll set up and is what makes you an OWNER of IECU- that’s what sets credit unions apart from banks! Every savings account requires a minimum deposit of $5.00 at all times to hold on to your ownership stake. Savings accounts are essential to having a balanced budget and act as an all-access pass to the rest of IECU’s products and services. Once your savings account is open, the possibilities are all yours!
The thought of saving money isn’t nearly as exciting as going out and splurging on that shiny new pair of shoes you’ve had your eye on…but you can work toward bigger goals by breaking your savings account into separate sub-share accounts. What do you have your eye on? A convertible? A new house? A speedboat? Creating a sub share like “Lindsay’s New Car Fund” can help you visualize your progress towards your goals and make you less likely to move money around for an unnecessary purchase. (Sounds familiar, right? That’s another reason why we like to say we know the needs of our members before they do!)
Members looking to save specifically for holiday shopping also have the option to open a Holiday Club account. Funds are set aside separately from your savings account until October 15th when they are deposited into the IECU account of your choice.
CERTIFICATES OF DEPOSIT
If you’re looking for an account with the highest earnings and have money that you won’t need to immediately access, a CD is the perfect option for you! Unlike the CDs we used to collect in our cars, an IECU CD will never go out of style. You’ll receive a better rate than you would by keeping the money in a savings account, as a CD is an insured investment that you’ve agreed not to touch for a specified period of time, called the “term”. You’ll even get to pick how long your money is tied up for. Typically, the longer you wait, the higher the return (Trust us-it’s worth the wait!). We know that every member has their own unique set of financial goals, which is why we’ve provided you with plenty of CD options. Whether you’re saving towards retirement, a future expense or just wanting to boost your personal savings, IECU has a savings product that will fit you like a glove!
Not sure what type of savings product is best for you? Don’t sweat it! An IECU financial expert is only a phone call away!
Certificate rates and terms may vary. See current rates.
MONEY MARKET ACCOUNTS
IECU Money Market accounts combine the security and convenience of your regular Savings Account with the higher returns you can expect from traditional investments. In simple terms, Money Market accounts are designed for you to save higher balances while allowing a limited number of withdrawals. Because they combine the best of both worlds, it’s common to use an IECU Money Market accounts as an emergency fund or savings account for recurring expenses like tuition, taxes or insurance.
- $1000 minimum deposit required.
- Six withdrawals or transfers are allowed per month, with a limit of three transactions by check.
- No minimum/maximum dollar withdrawal amount.
- $1000 daily minimum balance requirement to avoid a service fee.
- Interest calculated using the daily balance method.
For more information about this service, contact IECU today.
SAVE TO WIN CD
Sometimes you just need a little extra incentive to contribute towards your savings. Our Save to Win CD does just that! Unlike traditional CDs (not the ones we used to listen to music on) that require a higher minimum balance, our Save to Win CD only requires a $25 deposit to get started. With just $25, you’re entered into monthly and quarterly cash prize drawings of up to $5,000! Every time you lock another $25 into a Save to Win CD, you get another chance to win-up to 10 every month.
Yes, you’re reading this right. The money you save is all yours (PLUS INTEREST) on top of the chances to win tons of extra money! How’s that for savings with benefits?!
Learn more about our savings product with the best rate of return here!