Savings Accounts

If you are looking for the safety of principal and higher earnings than what is traditionally paid on savings accounts, our Share Certificates may be the perfect place to deposit your hard-earned money.

You can open a Share Certificate for as little as $500 and choose from terms ranging from six to 60 months.

Share Certificates are also available for your IRA, and Required Minimum Distributions (RMD) may be withdrawn without penalty.

We may impose a penalty if you withdraw from your account before the maturity date. The penalty amount for share certificate accounts may be up to one year of dividends. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. If the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.

Want to have less stress during the Christmas season? The Christian Family Credit Union Christmas Club Account provides you with a way to have cash on hand to do your Christmas shopping.

• Open your Christmas Club Account anytime during the year

• Normal distribution of the Christmas Club Account balances will be made on or about October 25 of each year

• Distributions are made by check or transfer to another credit union account

• Payroll deductions and automatic transfers are available

• Your account may qualify for quarterly dividends

• Other terms and conditions apply

What a great vacation...when you don't have to worry about the bills when you get home!

• Open your Vacation Club Account with an initial deposit of just $25

• Payroll deductions and automatic transfers are available

• Save a little at a time, and before you know it, you will have saved enough to pay for your vacation expenses

• Open your account anytime during the year

• A check will be sent to you by the date of your choice

• Your account may qualify for quarterly dividends

A Health Savings Account (HSA) is a tax-exempt custodial account established exclusively to pay or reimburse Qualified Medical Expenses you and/or a qualified family member or dependent incur.

Eligibility: To be an eligible individual and qualify for an HSA, you must meet the following requirements as established by the Internal Revenue Service (IRS):

• You must be covered under a High Deductible Health Plan

• You must have no other health coverage except what is permitted by the IRS

• You must not be enrolled in Medicare

• You cannot be claimed as a dependent on someone else’s tax return

Maximum Contribution Limits: The amount you or any other person can contribute to your HSA depends on the type of HDHP coverage you have, your age, the date you become an eligible individual, and the date you cease to be an eligible individual. For 2024, if you have self-only HDHP coverage, you can contribute up to $4,150. Individuals not participating in an HDHP the entire year may be restricted to lower funding levels. If you have family HDHP coverage, you can contribute up to $8,300. Individuals age 55 and over may make an additional contribution annually of $1,000.

Resources:
IRS Publication 502 (Medical & Dental Expenses)
IRS Publication 969 (HSA & Other Tax Favored Plans)

IMPORTANT DISCLAIMER:
The information on this page or associate links is being provided to you as a member convenience only. Christian Family Credit Union does not offer tax or legal advice and this information is NOT intended to serve as tax, legal or insurance advice. You should direct all legal questions to an attorney and tax questions to a qualified tax professional regarding your specific situation.

A Christian Family Credit Union Market Account combines the safety of a savings account with the potential to earn a higher yield. Money Markets are easily accessible-unlike certificates of deposit, money in money market accounts is not tied up for a specific term, making them ideal vehicles for short-term savings goals.

Minimum balance required: $2,000
Certain restrictions apply.

Enjoying our retirement years is a dream most of us have. Taking time for that walk in the park, playing golf or enjoying the grandchildren. That's what life is all about!

Being financially secure is a key ingredient to making those dreams come true. We have helped many of our members achieve their dreams by providing solid financial products and by making saving easy.

We offer Traditional IRAs, Roth IRAs, and Coverdell Education Savings Accounts. Contact the credit union to learn more about saving for your retirement years.