Savings Builder Certificate – Get Rolling Now and Get Rewards
Open with $50 minimum
Add $$ as often as you want, no minimum required
No monthly fees
Certificate matures each 30 days – you renew it
Dividends paid same as our 1-Year Certificate
Special dividends until you reach $2,500 cap
Warning: 90-day dividend penalty for early withdrawal
10-day grace period at maturity for withdrawals without penalty
Dividends paid at maturity
This is for serious savers – you can lose principal on premature withdrawal
We’ve changed our Certificates! Now, instead of a narrow term,
such as 1 year or 2 years, you pick the term when you book your
Certificate. Pick from six tiers:
1 year up to 2 years
2 years up to 3 years
3 years up to 4 years
4 years to 5 years
Rates will vary, so click on Savings Rates
to view our current posting. Remember our Permanent Fund 1-year
special through October.
Money Market Means More Moola
What’s a Money Market Account? How is
it different than my Share Account and a Certificate?
Good question. A Money Market is not a Certificate because
funds can be withdrawn. A Certificate commits funds for a
period of time, and there are penalties for withdrawals. Certificates
are great for those who know they can commit funds for the time
period they choose.
A Share Account (Savings) allows frequent withdrawals – up
to 6 per month with no fee, and more than that for a $1.00 excess
transaction fee each.
Money Market is for serious savers. Our account allows only
3 withdrawals per month before a $10 per transaction fee is charged. If
funds fall below $2,500 in MMA, then there is a $5.00 monthly service
fee, and the funds earn the regular Share (Savings) rate.
Money Markets will appear on your statement as Sub-account
20. Stop by a branch to get going and make more money!
– for some decades away, for others right around the corner.
The AARP reports that half of all employees
in the private sector have no retirement plan
at work or haven’t joined one. And, of workers 55 and
older, 26% have saved LESS THAN $10,000 for retirement.
It’s your future! Get started. We’ll make
it quick, easy and painless. An IRA Share account, just $25
on deposit, and we’ll help you set up automated payments.
Reach $500, and we’ll put it in a Certificate for a higher
return. You may get a tax advantage with your IRA.
In a plan? How about your spouse? Think about using
some of your Alaska Permanent Fund dividend for an IRA. Put
some of your tax refund in an IRA. Set up auto transfers to
Ask us – we’ll get you started.
Whether it's a short-term emergency fund, saving for a big-ticket
item (your first home?), or retirement investing, we have several
choices for our members.
All accounts are federally insured through the National Credit Union
Administration (visit www.ncua.gov)
- Our regular Savings accounts require a minimum $25.00 held on
deposit ($5.00 if the member is under age 18). Shares earn dividends
monthly. Members may have more than one Share Account. Because our
Share Accounts are a savings account, the number of withdrawals
is limited to six per month before being subjected to a $1.00 per
transaction fee in excess of the six. This includes transfers. Share
Accounts may be accessed with an Alaska Option ATM Card.
Share Draft (Checking)
– Share Draft is the technical term, but you know
it as Checking. TFCU members get free checking – always –
with no minimum deposits required and no restrictions. This is also
known as a Demand Account – an important term. You can use
this account with a Debit Card to make purchases. There are no limits
on the number of withdrawals. Our Checking Accounts are free and
do not pay dividends at this time.
- 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. There are penalties against dividends
for premature withdrawals. The minimum to invest in a Certificate
- We have several Individual Retirement Account types, including
Traditional, Roth and SEP (great for self-employed and small business
owners). Our IRAs do not require minimum deposits and there are
no transaction or service fees! Penalties apply for premature withdrawals.
Let us guide you through the choices and disclosures. We offer regular
Shares and four terms for IRA Certificates. Click
Coverdell Education Savings
Accounts - A new form of tax-free investing for a child's
future education. An ESA allows tax-free dividends to build on the
savings for future education, which now includes many more choices
including private schools. We'll be happy to help you learn about
this exciting new option. Parents, grandparents, relatives or godparents
can use this account to help finance future education needs. Now
there are many approved education expenses, including junior and
community colleges, vocational and technical training, and even
private schools at lower grade levels. Ask us! Dividends on Shares
and Certificates are the same as for IRAs.
Health Savings Accounts
– Members in a qualified health plan may have a designated
H.S.A. that pays dividends monthly (tax-exempt), at the same rate
as our Share Account, but which allows members to write checks to
the doctor, clinic, hospital, lab, pharmacy, etc. Talk to
your insurer and learn more about these accounts at www.treas.gov/offices/public-affairs/hsa/
Dividends are declared monthly by the Board
of Directors based on the earnings of the credit union. Rates may
change monthly. A current fee schedule may be obtained at the credit
union or by email.
Click here for current
Your Insured Account
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