Where is the safest place to save money while earning interest? In a Timberland FCU savings account! You can be sure that your deposits are safe as all Members’ funds are insured to $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government.
Below is a list of savings accounts created with our members’ savings needs in mind.
Money Market Shares
Money Market Shares allow you to earn higher dividends without losing accessibility to your funds. These funds are federally insured by the National Credit Union Administration (NCUA) up to a total of $250,000 for all shares. This is the maximum amount allowed by law.
- Minimum balance to open: $0
- Minimum balance to earn stated APY: $1,000
- Withdrawal Restrictions: Minimum withdrawal by member request – $100.
- Money Market remains open until instructed in writing to close.
- Fees: None
- Transaction Limits: A maximum of six withdrawals or transfers per month are permitted from one share to another or to a third party. If the transaction limitations are exceeded, you may incur overdraft fees and/or your account may be closed.
- Additional deposits: Can be made anytime. You can start or stop recurring payments or transfers at any time.
IRA & IRA Term Share Accounts
Saving for retirement these days is a necessity. Let Timberland FCU help manage your Individual Retirement Accounts (IRA). We offer Traditional (minimum deposit $250), Roth (minimum deposit $250) or Coverdell Education Savings Accounts (minimum deposit $10). Our IRAs can also be deposited into an IRA Term Share Certificate Account to maximize your earning potential.