Auburn Community Federal Credit Union offers a variety of savings accounts. Whether you’re interested in a traditional savings account, a money market account, you want to open a CD or you’re saving for something specific, we’re here to help you make your financial dreams reality.
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Get More From Your Money with an Auburn Community FCU Savings Account
Opening a savings account at Auburn Community FCU isn’t just a step toward greater financial security. It also gives you access to a wide selection of services that are only available to Auburn Community FCU members.
Opening a savings account with Auburn Community FCU provides you with membership status at Auburn Community FCU.
Features For Our Savings Account
The minimum balance for a savings account at Auburn Community FCU is $5. This minimum balance must always be maintained.
Additionally, our savings accounts empower you to plan for a more secure financial future. Opening a savings account means you can set aside money for when you need it most.
Unfortunately, the unexpected happens all too often throughout life. From emergency expenses to having access to funds when money would otherwise be tight, a savings account provides peace of mind and stability.
Open a Savings Account
To get started on opening a savings account…
What is a Money Market Account?
A money market account is another savings account option. Money market accounts generally obtain higher interest than a standard savings account, providing you with more money when you save. Because of the higher interest rate that provides more money, a money market account usually requires a higher minimum balance.
Features of a Money Market Account
A money market account provides a higher dividend rate than a regular savings account, providing you with more money in your savings account.
Additionally, dividends compound daily for a money market account at Auburn Community FCU, providing you with a savings boost.
Rates are tiered so that the greater the amount in the money market account, the greater the dividend earned.
Open Your Money Market Account
At Auburn Community FCU
Certificates of Deposit (CDs) from Auburn Community FCU
A Certificate of Deposit, commonly referred to as a CD, is similar to a savings account but has two major differences. First, a Certificate of Deposit (CD) is only open for a pre-determined amount of time. Second, Certificates of Deposit tend to have fixed interest rates.
Features of Our Certificates of Deposit (CDs)
One of the benefits of opening a Certificate of Deposit (CD) at Auburn Community FCU is that you may be able to earn a higher dividend rate, providing you with greater savings than a traditional savings account. This dividend rate is fixed at the rate that was established when the CD was opened.
These dividends are compounded daily and are placed in the Certificate of Deposit each quarter of the year. Dividends are also added to the account at the end of the account term, also known as the CD reaching maturity.
Getting your CD from Auburn Community FCU provides you with added financial flexibility, as dividends can be transferred to a share account. Funds can also be mailed to other Auburn Community FCU members from your CD in the form of a check.
Terms for Our Certificates of Deposit (CDs)
The minimum term for a Certificate of Deposit (CD) at Auburn Community FCU is 6 months, while the maximum term is 60 months. Prior to the term on your CD ending, Auburn Community FCU will send you a notice that your CD is approaching maturity.
Start Saving Today. Open a Certificate of Deposit (CD) To take the first step toward purchasing a Certificate of Deposit (CD) from Auburn Community FCU…
Have a Jolly Christmas by Opening a Christmas Club Account at Auburn Community FCU
The holidays can be an expensive, but memorable, time of year. While playing Santa can be rewarding for all involved, the gift giving season can creep up on us before we know it, leaving us short on time and money to get something for the people we care about.
There is a better way.
Auburn Community FCU makes it easy to save for the holidays with a Christmas club account. A Christmas club account is a type of savings account specifically for covering the costs that come with the holidays. You can add to a Christmas Club Account by automatically setting aside a specific amount each paycheck through payroll deduction. Alternatively, you can add to a Christmas Club Account on your own schedule.
Features for An Auburn Community FCU Christmas Club Account
The minimum deposit you can make to open a Christmas Club Account is $5. Christmas Club Accounts run from October of the year that the account is opened to October in each year after. On October 1st, Christmas Club Account funds are transferred to a regular savings account.
Open a Christmas Club Account
Vacation Club Account
Everybody needs to get away once in a while. However, the stresses of saving enough money for a vacation can be something worth getting away from on its own. With a Vacation Club Account, it doesn’t have to be that way. Auburn Community FCU makes it easy to manage saving for your dream vacation.
Features of Auburn Community FCU’s Vacation Club Account
Our Vacation Club Account makes it easy to save. We offer payroll deduction, allowing you to save a little toward your Vacation Club Account each paycheck. Alternatively, you can save at your own pace.
We make it easier to keep your Vacation Club Account funds to go toward your vacation, as Vacation Club savings can only be withdrawn at the Auburn Community FCU office. This helps prevent being tempted to take from your Vacation Club Account, while still making it possible to make withdrawals if it’s necessary.
The minimum deposit to open a Vacation Club Account is just $5. Deposits and withdrawals from Vacation Club Accounts can be done anytime, but may only be done at an Auburn Community FCU location. Conveniently, you can open a Vacation Club Account at any time.
Open a Vacation Club Account Today
Give Your Child a Head Start with a Kids Savings Account
Our children grow up fast. Colorful drawings proudly displayed on the refrigerator quickly turn to school essays, financial aid forms, and job applications before we know it.
If there’s anything that’s worth starting early, it’s saving. The kid’s savings account at Auburn Community FCU is specifically for Auburn Community FCU members who are 12 years old or younger. Whether you’re setting aside money for your kid’s savings account, or you’re encouraging them to save a little of their allowance or birthday money, a kid’s savings account is a great way to teach your child financial responsibility while helping them get ahead.
Open a Kids Savings Account at Auburn Community FCU
Plan for the Future With a Coverdell Education Savings Account
An education can create more opportunities. College graduates make more money over a lifetime than people with lower education levels, according to the Los Angeles Times. Unfortunately, for many that higher education can come with a high price. Americans as a whole owe over $1 trillion dollars in total student loan debt. A Coverdell Education Savings Account, also formerly known as an Education IRA, makes it manageable to save for education costs.
What is a Coverdell Education Savings Account?
A Coverdell Education Savings Account is a form of savings account specifically for the purposes of saving for education expenses. Because this type of savings account is specifically for education costs, there are limits that apply.
Features of a Coverdell Education Savings Account
There are limits to how much can be contributed to a Coverdell Education Savings Account per year. However, contribution limits have recently increased, empowering families to save more for college, making it more affordable.
The maximum amount that can be added to a Coverdell Education Savings Account is $2,000 per child per year.
When college expenses become an immediate concern, funds from a Coverdell Education Savings Account can be withdrawn with no tax consequences. For withdrawals from a Coverdell Education Savings Account to be free of tax consequences, the withdrawal must be done to cover qualifying expenses, including:
- Eligible college costs
- Eligible trade school costs
- Public elementary and/or high school costs
- Private elementary and/or high school costs
Contributions to a Coverdell Education Savings Account may also be tax deductible. Consult a tax professional for details about deductibility.
Open a Coverdell Education Savings Account at Auburn Community Federal Credit Union To start saving for your child or a loved one’s future…
Which Savings Account is Best for You? Let’s Talk
As detailed above, there are multiple kinds of savings accounts. Not all savings accounts may be right for your financial goals.
Auburn Community Federal Credit Union can work with you to determine which savings account is best for your needs.