Share Accounts

 

Regular Shares
Your regular savings account at APFCU represents your share of ownership in the credit union. An initial deposit of $5.00 plus a one time fee of $5.00 establishes your account.

A regular savings account is your opportunity to earn higher-than-average dividends on passbook-type savings. You will receive a quarterly statement that itemizes all transactions on your account for the quarterly period.

Your savings are insured up to $250,000 by the National Credit Union Administration, (N.C.U.A.) an agency of the federal government.

When you save at your credit union, you'll find many benefits that you don't find at other financial institutions. And, we make it easy for you to save by offering you a variety of savings and investment plans to meet your individual needs. In addition to our regular savings accounts, you'll want to check on our high-yield certificates, Individual Retirement Accounts (IRA's) and Money Market Accounts.


 

 

Money Market
Our Money Market Checking Account offers you the advantage of earning daily interest on your balance, with a minimum of $5,000 in the account. It has all the advantages of our regular checking account, including duplicate checks for easy record keeping, easy-to-read monthly statements listing each transaction, convenient deposits by direct deposit and payroll deduction.

And if you should overdraw your checking account, but have funds available in savings, we will transfer funds to cover the overdrawn check, provided funds are not pledged as collateral on a loan. This is just one service we offer to save you the embarrassment of having a returned check.

An overdraft line of credit can provide you with overdraft protection by automatically advancing money to your money market account.

For added convenience, you may authorize automatic payments from your money market account for insurance premiums, mortgage payments or loan payments.
Federal regulation restricts the number of drafts and pre-authorized transfers you may make per calendar month.
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Certificates of Deposit                                

These investment plans are designed for members with as little as $500 or as much as $100,000 to invest. No matter what your investment needs, your credit union is always available and equipped to help.

You can choose your certificate plan with maturity dates from 6 months to 12 months.

Dividends on all certificates, including IRA certificates are compounded and paid on a monthly basis. All certificates except IRA's may be used as collateral on all loans at the credit union. There is, however, a penalty for early withdrawal of certificate accounts.

 

IRA
Individual Retirement Account (IRA)         
An IRA is an excellent tool for retirement savings. We offer three types of IRA accounts to meet your retirement needs: Traditional, Roth and Coverdell Education Savings Accounts. Depending on the type of IRA you choose benefits could include tax-deductible contributions and tax deferred earnings or qualified distributions may be withdrawn tax-free. 
 
Traditional IRA
A traditional IRA allows you possible tax advantages in the present while still allowing you to save for retirement.  You are eligible to contribute to a traditional IRA if you have earned compensation and will not reach age 70 ½ prior to the end of the year. If you are over age 50 contact the credit union and speak to an Account Specialist to find out your maximum annual contribution amount.  Limits apply to Traditional and Roth contributions combined. There are two benefits to consider when choosing the traditional IRA. Your investment grows on a tax-deferred basis; earnings are taxable only upon withdrawal. There are also possible tax deductions for contributions. Tax deductions are based on income, marital status and whether you participate in a qualified retirement plan. Consult your tax advisor on what portion of your contribution is tax deductible.
 
Roth IRA
A Roth IRA allows you to make contributions at any age as long as you are within the yearly income limits set by Congress and you have earned compensation. While contributions are not tax-deductible, qualified distributions may be withdrawn tax-free. If you are over age 50 contact the credit union and speak to an Account Specialist to find out your maximum annual contribution amount.  Limits apply to Traditional and Roth contributions combined. With the Roth IRA, you are not required to begin taking distributions once you reach age 70 ½ so your retirement savings can continue to grow no matter your age.
 
Coverdell ESA
A Coverdell ESA is a great way for parents, grandparents or other individuals to help meet the rising costs of a student’s education. ESA’s are a tool for any individual to aid in saving for a child’s education expenses. Yearly contributions of $2000 can be made up until the child reaches age 18 unless there are special needs circumstances that apply. Earnings grow tax-free and qualified distributions may be withdrawn tax-free.

 

Christmas Club
With an American Partners FCU Christmas Club Account, you can say "Good Bye" to the hectic worrisome moments spent every Christmas season wondering where the extra money will come from. Now you can invest in Christmas! When you open your APFCU Christmas Club Account, your money will earn dividends throughout the year, so your Christmas savings will grow faster and ease the burden.

Then in October, we'll automatically transfer your Christmas Club funds to your checking or savings account or mail you a check. Your Christmas Club will certainly make shopping a lot easier!