When their savings account balance reaches $100, they will be eligible to visit the Treasure Chest to choose a gift. When the Young Members Club account is opened, the young member receives a special membership card and a Young Members Club bank. The Education IRA is a deposit account and earns monthly dividends. Contribute up to $500 per year, per child (under age 18) into an Education IRA. The new Education IRA is a great way to save for future education expenses because it offers tax-free earnings and withdrawals for higher education expenses. Distributions are penalty-free and can be made at any time of the share certificate term. The IRA Share Certificate has a three year term. Distributions are penalty free and can be made at any time of the share certificate term. One of the most exciting opportunities available, the Roth IRA offers the opportunity for tax-free earnings and withdrawals for retirement and other important goals. Payroll deduction is a safe and easy way to accumulate funds in an IRA Deposit Account. Save until the balance in the account has reached the point you can transfer it into an IRA share certificate. This IRA allows you to make routine deposits at any time. Vigo County Federal Credit Union offers several types of IRAs to meet your long range financial needs: Deposit IRA Individual Retirement Accounts are important for a smooth transition into your senior years. Minimum deposit is generally $500.Īll certificates have an automatic rollover at maturity unless notified. Penalty for early withdrawal is a 90 day loss of earnings. You may receive your earnings monthly by check, transfer your earnings to another account, or compound the earnings back to the certificate. Vigo County Federal Credit Union offers share certificates in terms ranging from three months to five years. Remember, the sooner you start, the more you'll save! Sign up at the Credit Union today. While the Holiday Club Account can be opened at any time, there is a small $10.00 fee to close it before November 1 of any year. The money in your Holiday Club Account is automatically transferred to your checking or savings account every October 31 giving members plenty of time to take advantage of pre-season bargains. In addition to the amount you deposit, you'll receive a dividend at the end of the cycle based on the amount of money you have saved. There's no need to come into the credit union and no pass-book to worry about. Sign up for a Holiday Club Account once and each week the designated amount will be deducted from your paycheck. Open a Holiday Club Account and you won't have to cut your holiday plans short because you're short on cash! Payroll Deduction makes saving for the holidays extra easy. Nothing takes the hurry and flurry out of holiday planning like being prepared.
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