Your savings is federally insured to at least $250,000.00 and backed by the full faith and credit of the National Credit Union Administration (NCUA), a U.S. Government Agency.
An initial deposit of only $25.00 in a Share (Savings) Account, which remains for the life of the account, makes you a member of our credit union family and eligible for all other credit union products and services. This deposit buys you a share of the credit union and allows you to earn dividends. Dividends are calculated and paid quarterly on a split rate basis. Please view our Rates page for the most current rates.
We have a Silver Savers feature for our devoted members over the age of 55. Simply tell us during your next transaction that you would like to be part of our Silver Savers Club in order to receive one free box of checks per year and free money orders.
Club Accounts are a great way to save extra money. Payroll Distribution and automatic transfers are easy ways to contribute to your Club Accounts. Dividends are calculated and paid quarterly on a split rate basis. Please view our Rates page for the most current rates.
- Christmas Club – Christmas Club Accounts can be opened for any amount of money that you wish to set aside in order to save up for the holidays. The entire balance will be paid to you by transfer to another account of yours before October 31st, and the Christmas Club Account will remain open.
- Vacation Club – Vacation Club Accounts are also separate accounts that members use to save for vacation or other upcoming events. Checks are not mailed out at any specific time, and you may request a check or transfer to another account at any time.
Three Individual Retirement Account (IRA) options are available through Members Choice as excellent tools to save for retirement. Depending on the type of IRA you choose, contributions may be tax deductible and will grow either tax-deferred or tax-free. Dividends are paid and posted quarterly. Share Certificates are also available for your IRA account.
- Traditional IRA – You may be able to contribute up to $5,500.00; for owners age 50 and older, you may be able to contribute up to $6,500.00. Contributions cannot exceed compensation. Earnings grow tax-deferred until withdrawn. Contributions may be tax-deductible.
- Roth IRA – You may be able to contribute up to $5,500.00; for owners age 50 and older, you may be able to contribute up to $6,500.00. Contributions cannot exceed compensation. Earnings are tax-deferred and withdrawals are tax-free if the account is open for five tax years and withdrawals are for a qualified reason. Not required to start withdrawals at age 70 ½.
- Education Savings Account (ESA) – This account is an excellent way to help a child, grandchild or other young children start saving for educational purposes. Your ESA can be used to pay qualified elementary school and secondary school expenses as well as those for higher education. Even though there is no tax deduction for amounts contributed to an ESA, earnings grow tax-free.
For more information on IRAs including who can contribute to an IRA, who can make deductible contributions and when withdraws can be made without restrictions, or if you have any questions, please call the credit union at (304) 346-5242 or Toll Free (800) 526-5242 to speak with our IRA Specialist Monica.
Share Certificate Accounts allow you to earn a higher interest rate when you agree to tie your money up for a certain period of time. We offer 6 month, 1 year and 2 year Share Certificates that require a minimum balance of only $1,000.00. Please view our Rates page for the most current rates.