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Savings Accounts

Share Savings*

It all starts with a Share Savings Account. With just a $25 minimum balance to maintain, the DUFCU Share Savings account is your ticket to everything DUFCU has to offer. The DUFCU Savings Account features 24/7 access by phone, Internet, and it can even serve as an overdraft protection for your checking account. Account features:

• Funds Express ATM Card
• No monthly maintenance fees
• Low $25 minimum balance
• Great yields
• 24/7 through i-Access
• Dividends are calculated daily
• Can be used as overdraft protection*
• The National Credit Union Association (NCUA) insures cumulative deposits up to $100,000
• Matching Life Savings Insurance up to $2,000.00

Confused about your options? Check our account comparison chart. Or read up on ways to save more in our Online Financial Center.

Opportunity Savings

Need a savings account that is more than just a savings account? How about Opportunity Savings? Opportunity Savings adds direct deposit and simple savings with a single payment loan. This loan is similar to a line of credit, with a $300 limit; the difference is that it is paid off every pay period with your direct deposit paycheck. You only pay the loan if you need to use it, but it provides a nice cushion for when emergencies arise and cash flow is low. Access to your account is limitless with free i-Access, free Audio Express and free Funds Express ATM withdrawals. The monthly maintenance fee for the Opportunity Savings account is $5.00.

Confused about your options? Check our account comparison chart.

Carefree 55 - Age brings Wisdom, Maturity, and Free Checking. Who knew it could be so good?

A special package of benefits to help you better meet your financial needs. Don't worry; there are no meetings and no dues! Just benefits!! Carefree 55 is for adults at least 55 years young. Reach the age of 55 and you qualify for free checking*. And that's not all! We want to make your life easier. So we have created a package full of discounted products and services just for our Carefree 55 crowd. Package benefits include:

• An additional .25% on CD rates
• No Cost Financial Consultation
• 10% discount on Safe Deposit Boxes
• Free Cashier's Checks
• Free Teller Assisted Withdrawals
• Free Traveler's Checks

*upon credit approval.

Confused about your options? Check our account comparison chart.

Money Market Account

DUFCU's Money Market Account is a powerful, high-yielding account that can be opened with just $1,000. That means you can enjoy tremendous yields, along with deposits via payroll deduction, 24 hour account access via Funds Express Combo Card, overdraft protection for checking accounts allowing peace of mind and of course- no fees.

• No fees
• Higher yield
• $1,000 minimum balance
• Make regular deposits via payroll deduction
• Can be used as overdraft protection*

Check out our yields online, or contact Member Services to get started now. Of course, you can also visit a branch to apply or get more information.

Individual Retirement Accounts (IRAs)

IRAs are savings accounts designed to help you save for retirement or education. Because IRA earnings are sheltered from taxes****, IRAs grow faster than ordinary savings accounts. There is a low $25 deposit necessary for a Credit Union IRA. DUFCU offers three (3) different IRAs to meet the individual needs of its members. IRAs can be opened as an IRA Share Savings Account, an IRA Certificate Account, and an IRA Premium Certificate Account.

Traditional IRA

The Traditional IRA is an account which allows you to save for retirement and to defer taxes on the earnings until they are withdrawn.

• At the age of 70½, you must begin receiving distributions. These distributions give a steady income to add to Social Security or other retirement benefits.
• All earnings on contributions to this IRA are tax-deferred, allowing you to hold funds longer and earn more money. Withdrawals or distributions are taxed as income in the year they are withdrawn.

Education Savings Account (Formerly the Education IRA)

An Education Savings Account (previously Education IRA) can be opened for any child under the age of 18 to fund his or her education. Withdrawals from the account are tax-free if used to pay for primary, secondary, or post-secondary education expenses.

• Education Savings Accounts have a maximum contribution of $2000 a year, with a maximum salary of $190,000 (phase out to $220,000) on a joint return or $95,000 (phase out to $110,000) on a single return to qualify for a full contribution.

Roth IRA

A Roth IRA is always a post tax contribution but has a back-ended benefit because the account grows tax-free. Withdrawals are tax-free if made for a qualified reason (retirement if you are 59 1/2 years old, first time home purchase, death or disability) after the account has been open for at least 5 years.

• To qualify to open a Roth IRA there are some restrictions, including salary caps for a single filer up to $95,000 (phase out to $110,000) and on a joint tax return up to $150,000 (phase out to $160,000).

Savings Bonds

EE Savings Bonds are an interest-bearing certificate of debt issued by the United States Treasury. The purpose of the bond is to finance the operations of the federal government.

• Bonds can be purchased for one-half of the face value of the bond (which come in a variety of denominations), giving you a large selection of investment options.
• Interest accumulated by a bond is tax deferred until the bond is redeemed.
• EE Savings Bonds are backed by the government and pay a guaranteed interest rate (if they are held for a certain length of time).
• Accumulated interest may be tax-free* if the bonds are purchased for educational purposes.

Contact Member Services to get started now. Of course, you can also visit a branch to apply or get more information.

Club Accounts****

The Holiday Club Account may be the perfect way for you to save for your holiday expenses. Through payroll deduction or other regular deposits, you save systematically and painlessly. A club account can be opened at any time. Funds are transferred into your share savings account during the first week in October, allowing you plenty of time to shop for gifts or plan a winter vacation.

• No minimum balance
• No monthly service fee
• Payments through payroll deduction
• The funds cannot be accessed through an ATM, preventing spur of the moment withdrawals.
• The account is automatically renewed on October 1 (unless closed early), thus saving you an extra trip to the credit union.

 

Certificates of Deposit (CD's)

DUFCU Certificate of Deposit Accounts offer you a guaranteed yield on a schedule that fits your needs. With just a $500 minimum, you can earn an attractive interest rate on your terms. You can choose to make your investment last as many days as you would like, from 3–36 months. (Early withdrawals are subject to loss of dividends up to 90 days.)