IRA & Shre Certificates

Share Certificates

Share Certificates are term savings accounts that earn competitive interest rates with usually a higher rate of interest than a regular savings account. FWCCU offers certificate of deposits with terms from 6 months, 12 months, 3 years and 5 years. A minimum deposit of $1,000.00 is required to open and maintain the account. Dividends are paid at the end of the term or transferred to an existing share account at the end of each month. Prior notice is given before automatically renewing for the same term and the current rate. The penalty for early withdrawal is three (3) months loss of interest and the account must be closed.

Individual Retirement Accounts

A FWCU IRA offers an economical way to save money for your retirement by allowing you to invest without paying taxes on the earnings until you begin to make withdrawals. And your deposits, depending on your circumstances could be tax-deferred. Dividends are paid on the last day of each quarter and are based on the average daily balance. Deposits to IRA accounts can be made by payroll deduction, direct deposit or automatic deposit. No minimum deposit or balance required. IRA accounts are insured separately to $100,000.00 by the National Credit Union Administration (NCUA)