Whether it's a short-term emergency fund, saving for a big-ticket item (new equipment) or retirement investing, we member options.
Tongass Federal Credit Union offers competitive interest rates that will help you save for future needs. All accounts are federally insured through the National Credit Union Administration, so you know your money is safe.
Business Share Savings Accounts
A Business Share Account is the initial account that you, as a member, will have with Tongass Federal Credit Union. Once you make the initial $25 share deposit, you become a member-owner of TFCU which enables you to take advantage of other products and services offered. Some features include:
- Shares earn dividends monthly.
- Deposit to your savings anytime
- Share accounts may be accessed through ATMs Click here for a list of no fee ATMs for TFCU Members
- Balance over $25.00: No monthly service fees!
- Multiple share accounts can be used and named (examples: Sales Tax Account, Employee Gift Account, etc.)
What to bring with you to open your new Business Share Savings Account? Link to New Account Required Documentation
Money Market Accounts
A Money Market account is for serious savers who want access to their funds. Higher rates are paid on higher balances. The account is more “liquid” than a certificate of deposit because up to three withdrawals per month are allowed. Other features include:
- Deposit to your account anytime with direct deposit or auto-save from another TFCU account
- Dividends are paid monthly based on tiers.
- Up to $2,499
- $2,500 - $9,999
- $10,000 - $24,999
- $25,000 - plus
- If balance falls below $2,500, there is a low monthly service fee
These are time deposits, where a commitment is made to invest funds for a certain period with a guaranteed return (dividends). Dividends are paid quarterly and/or at maturity. There are penalties for early withdrawals.
The following are some of the features of our certificates of deposit:
- Dividend rates are higher than savings.
- The minimum to invest is $500.00.
- Maturities range from 90 days to 60 months.
- Term may be specific (such as 245 days), you decide within each tier.
- Watch for specials, particularly at PFD time!