Savings Options For Your Lifestyle
Certificates
Certificate investment options range from 3-month to 60-month terms with a $500 minimum deposit.
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Health savings account (HSA)
A specific savings account designed to help with out-of-pocket health expenses.
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Learn more about savings accounts and certificates
Certificates
Certificates are similar to savings accounts in that they’re insured and virtually risk-free. They’re also different from savings accounts because a fixed interest rate and a specific, fixed term (often three months, six months, one year or five years) is attached to them.
In order to gain the best yield on a certificate, your plan and commitment should be to hold it until full maturity, at which point, the money originally deposited can be withdrawn, along with the accrued interest.
- Monthly service fee: $0
- Deposit insurance: At least $250,000
- Renewal at maturity: Automatic
- Early withdrawal: Penalty applies
Your Deposits Are Insured Up To $500,000
The first $250,000 is covered by NCUA, a U.S. Government agency, with an additional $250,000 of coverage provided by Excess Share Insurance (ESI), a private corporation.
Member Share Savings
Every Directions member starts with a Member Share Savings account. This membership level account is easy to get started and maintain, and with it you can take advantage of other Directions products and services.
- Minimum opening deposit: $5
- Monthly service fee: $0
- Minimum balance to receive dividends: $25
- Dividends compounded: Quarterly
Holiday Club Account
A designated savings account to help save for the holidays. This account can be opened any time of the year, with payroll deduction available. Your deposits remain in this account until we transfer them to your Primary Shares in October. If there is a withdrawal before the October transfer, this account must be closed and not reopened until after the October transfer.
- Minimum opening deposit: $5
- Monthly service fee: $0
- Minimum balance to receive dividends: $25
- Dividends compounded; Quarterly
Health Savings Account (HSA)
A Health Savings Account (HSA) is a medical savings account available to members enrolled in a High Deductible Health Plan (HDHP). You can make tax-free contributions/deposits, plus earn interest. This account can be conveniently accessed with a debit card or check.
- Member cannot be on Medicare or eligible to be claimed as a dependent
- Contributed funds are not subject to federal income tax (subject to IRS guidelines and limits)
- Funds roll over and accumulate year to year and may be used to pay for qualified medical expenses
Money Management Accounts
Money Management Accounts are designed for members wanting to receive higher dividends while maintaining liquidity.
- Minimum opening deposit: $5
- Monthly service fee: $0
- Minimum balance to receive dividends: $2,500
- Dividends compounded: Monthly
It's never too early to learn to save
Directions’ youth savings products are great ways to help kids learn the basics of healthy saving and spending. Get started with a regular share savings account and pick a prize from Sparkle’s prize chest with each deposit.
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