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Savings
Saving Money is Good
BUT
Getting More for Your Savings is Better!!
When it comes to saving, most financial institutions are the same--you deposit money, you earn interest. At Cy-Co FCU,
we're different!
We do more than pay interest. We also provide our eligible savers with Member's Choice™ Life Savings Insurance. This
valuable coverage is provided at no direct cost and matches the balance in your eligible share account, up to $5,000,
for all deposits made before age 55. Benefit amounts are gradually reduced for deposits made between ages 55 and 70,
so the earlier you deposit, the greater the coverage you'll have. Deposits made after age 70 are not eligible for coverage.
You see, we do think saving money and earning interest is a good idea. But, we think that receiving interest and life insurance
is the best idea!
For more information about Life Savings Insurance and the other benefits of saving, contact us at 504-431-6577 and enter 2, or email us.
SAVINGS PLAN
CY-CO FCU has many ways for you to save, whether it be for short-term interest or long-term growth. You simply choose the plan
that fits your needs. And, as always, your money at CY-CO Federal Credit Union is insured up to $100,000 by the National Credit
Union Administration. That means security and safety for your accounts.
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Your Membership Share Account can be a great place for you to save. The possibilities are as varied as your needs. Become a member of Cy-Co FCU by simply opening this account with a $5.00 membership fee. By maintaining a $100 minimum balance, you'll earn a competitive dividend that is compounded and credited monthly (at the discretion of the Board of Directors). You can make deposits or withdrawals at any time. Excessive withdrawal fees do apply.
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A Checking account is simple to open with a $50 minimum deposit. By maintaining a balance of $1000 you'll
earn a competitive dividend that is compounded and credited monthly (at the discretion of the Board of Director).
You can make deposits or withdrawals at any time. No minimum balance is required.
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These very popular savings accounts help you save money for Christmas shopping or vacation fun. The minimum opening deposit and balance is $5. By maintaining a $100 minimum balance, you'll earn a competitive dividend that is compounded and credited monthly (at the discretion of the Board of Directors). Deposits can be made at any time. Early withdrawal fees do apply.
Proceeds from these club accounts are transferred to your Regular Share Account as follows: Christmas Club, on October 31st and; Vacation Club, on April 30th.
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Traditional IRA, Roth IRA, Education IRA...Whatever your choice, we can help you save for the future.
Your IRA savings are insured separately from your regular savings, offering you an additional $100,000 of protection.
IRAs may offer an immediate tax deduction, as well as tax-deferred earnings. (Consult your tax adviser for details.)
IRA funds cannot be pledged as collateral for a loan.
IRA Share Account
Use an IRA Share Account to accumulate retirement funds for an IRA certificate. It works like a regular share savings account and gives you the ability to make deposits at your own pace. You may choose to purchase an IRA Certificate when you've accumulated your annual contribution. The minimum opening deposit is $25, with dividends being compounded and credited monthly (as determined by the Board of Directors). Early withdrawal penalties do apply.
IRA Certificates
We offer IRA Certificates at competitive fixed rates and terms. Choose a term of 12 or 24 months. The minimum deposit is $1000, with dividends being compounded and credited quarterly. Early withdrawal penalties do apply.
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We offer term share certificates at competitive fixed rates and terms. The minimum deposit is $1000. Terms of 6-, 12- and 24- months are available. You have the option of choosing to have a monthly dividend paid to you by check or transferred to your regular share account or just have the total dividends available to you at maturity. Early withdrawal penalties do apply.
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