Feburary 27th – March 4th is ‘America Saves Week.’ This campaign, sponsored by the non-profit organization Consumer Federation of America, seeks to ‘motivate, encourage, and support’ people with their savings goals.
We’ll start the week with the most obvious way to save; savings accounts. Cyprus Credit Union has several options when it comes to saving. Check out the options we have to offer below.
SHARED SAVINGS
This is a regular savings account with a low minimum deposit and convenient access to your funds. If you are a member of Cyprus Credit Union, you already have a shared savings account with us.
Unique Features
• Higher interest rate for balances of $10,000 or more• Free direct deposits & automatic transfers
• Free online banking
• Federally insured to $250,000 by the NCUA
CERTIFICATE
A savings account with a higher interest rate. Certificates are less liquid than a share savings account, meaning you must invest your money for a specific length of time: six months to five years.
Unique Features
• Higher interests than shares savings account• Longer terms generate a higher interest rate
• Federally insured to $250,000 by the NCUA
MONEY MARKET
No minimum balance required, no monthly service charge and you can withdraw funds without penalty. Money market accounts usually offer a higher rate of return than a share savings account.
Unique Features
• Higher interests than share savings account• Higher balances generate a higher interest rate
• Federally insured to $250,000 by the NCUA
DREAM CD
A certificate account that lets you add to it monthly. Open your Dream CD with just $20 with $10 minimum monthly deposits.
Unique Features
• Continually add to your certificate account at a fixed interest rate
• Longer terms generate a higher interest rate
• $100,000 cap per members
• Federally insured to $250,000 by the NCUA
If you are interested in opening one of these accounts with us, check out our website or stop by one of our branches.
