When you want a savings account, you want an option that gives you the most benefits with the least amount of hassles. At North Memorial Federal Credit Union, you choose the savings (or share) account that best meets your needs.
Share (or Savings) Account
Open a regular share savings account at NMFCU and build an important relationship that focuses on your financial needs and goals.
- Represents your member-ownership of NMFCU for as long as you like, due to our "once a member, always a member" philosophy
- Requires a minimum deposit of $5 to maintain membership eligibility
- Pays quarterly dividends
- NCUA insured up to $100,000
To open your savings account and become a North Memorial Federal Credit Union member,
click here. If you have any questions, please contact a member service representative today.
Special Share Account
Saving for something special? Maybe a vacation, a down payment or a distinctive gift? If so, open a Special Share account to make saving for a specific purpose or an upcoming expense even easier.
- No minimum balance requirement
- Make easy and convenient deposits with payroll deduction
- Pays quarterly dividends
- NCUA insured up to $100,000
If you have any questions, please contact a member service representative today.
Christmas Club Share Account
Save now for a happier holiday and have extra jingle in your pocket by using a Christmas Club Share account. With the money out of sight and out of mind, it's a practically painless way to plan for your holiday season.
- Save for the holiday season throughout the year
- Make easy and convenient deposits with payroll deduction
- Have a check deposited into your account.
- Pays quarterly dividends
If you have any questions, please contact a member service representative today.
Money Market Account
Balance your investment portfolio with a Money Market account to avoid market dips and jumps that are difficult to predict. Your NMFCU Money Market account will earn more without ever risking your hard-earned savings.
- Maintain a minimum balance of $2,500
- Earns higher, competitive rates than a typical savings account based on your balance
- Make deposits as frequently as you wish - even easier with payroll deduction or direct deposit - and up to six free withdrawals per month
- Make up to six free withdrawals per month Minimum withdrawal of $500.
- Dividends are monthly
If you have any questions, please contact a member service representative today.
Share Certificates
Invest in a NMFCU share certificate (CD) to diversify and stabilize your portfolio while maximizing your earnings.
- Terms of 3, 6, 12, 24, 36, 48 and 60 months
- Minimum balance requirement of $500.00
- Earns Dividends
- Fixed interest rate for duration of the certificate
- No transaction costs or service fees
- Insured up to $100,000 by the NCUA
"Step Up" Rate Certificates
- 3 or 5 year terms
- Minimum balance of $2,500.00
- You decide if/when you savings rare goes up! Rate goes up once on 3-year certificates, and twice on 5-year certificates.
- Dividends are compounded and paid quarterly
Market Index Certificates
Enjoy earning stock market rates without the risk of losing your initial investment when you select a Market Index Certificate.
- Terms of 1, 3, or 5 years
- Minimum balance requirement of $500
- Earnings are based on the movement of the Dow Jones Industrial Avg.
- Insured up to $100,000 by the NCUA
IRA Share Certificates
Feel secure about saving for your retirement years with an IRA Share Certificate.
- Terms of 1, 2 or 3 years
- Minimum balance requirement of $500.00
- Dividends are compounded and paid quarterly and at maturity
- Fixed interest rate for duration of the certificate
- Contributions may be tax-deductible Consult your tax advisor for potential tax benefits.
- Insured up to $250,000 by the NCUA
If you have any questions, please contact a member service representative today.
- Term of 1 year
- Minimum balance requirement of $100
- Tax-deferred dividends are compounded and paid quarterly
- Contributions may be tax-deductible Consult your tax advisor for potential tax benefits.
- Insured up to $250,000 by the NCUA
IRA Share Certificates
Feel secure about saving for your retirement years with an IRA Share Certificate.
- Terms of 1, 2 or 3 years
- Minimum balance requirement of $500
- Dividends are compounded and paid quarterly and at maturity
- Fixed interest rate for duration of the certificate
- Contributions may be tax-deductible Consult your tax advisor for potential tax benefits.
- Insured up to $250,000 by the NCUA
IRA Market Index Certificates
Enjoy earning stock market rates without the risk of losing your initial investment when you select a Market Index Certificate.
- Terms of 1, 3, or 5 years
- Minimum balance requirement of $500
- Earnings are based on the movement of the Dow Jones Industrial Avg.
- Insured up to $250,000 by the NCUA
Roth IRA
With a Roth IRA, all income earned is tax-free upon withdrawal, as long as earnings have been in your account for at least five years and meet one of the following conditions:
- Earnings are received after you turned age 59
- Withdrawal is used for qualified first home purchase expenses
- Earnings are received because you became disabled
- Earnings are being paid to your beneficiary after death
Another benefit of the Roth IRA is freedom from minimum distribution requirements. The traditional IRA requires that you begin making withdrawals and stop contributions at age 70 , while the Roth IRA continues to earn money, tax and penalty-free, for as long as you wish.
If you have any questions, please contact a member service representative today.
Share Accounts
