Savings

Share Savings Account

With your $5 minimum deposit to a Share Savings Account you become a member-owner of DCCU, entitled to take advantage of all the benefits, products, and services available to our members. Maintaining a $5 balance in your Share Savings Account represents your share in the Credit Union.

Choose from any of the savings account options listed below to make saving easy!

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Club Accounts

Club accounts are savings accounts that you can open to help save for specific a purpose you choose, such as:

  • Emergency fund
  • Taxes
  • Down payment (house or new car)
  • Vacation
  • Birthdays/Anniversaries

Club accounts earn the same dividend rate as a Share Savings account, and funds are available at any time.

Christmas Club

Many members value the benefit of saving throughout the year for holiday expenses. Systematic deposits can be made by payroll deduction, automatic transfer, via Online Banking, by mail, or in person. This makes saving for that special time of year effortless.

Christmas Club accounts earn the same dividend rate as Share Savings accounts. The total balance (including dividends and initial deposit) will be deposited every October 1st into the account you designate at opening. The payout on this date is mandatory, but distribution on October 1st does not automatically close your account - it remains open until you close it. 

Club Account Rates APR APY
Club Account 0.25% 0.25%
Christmas Club 0.25% 0.25%
Vacation Club 0.25% 0.25%

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Money Market

When you have money that you want to earn a higher return than a simple savings account but want access whenever you need it, a Money Market Account may be your best option.

  • $1,000 minimum balance required to earn dividends
  • No monthly fee
  • Earns dividends – computed daily, paid monthly
  • 6 withdrawals per month penalty free
  • $100 minimum withdrawal
Money Market APR
$100,000 and above 0.50%
$50,000 – $99,999.99 0.40%
$25,000 – $49,999.99 0.35%
$1,000 – $24,999.99 0.25%
$999.99 and under 0.00%

View all rates

Certificates

For money that you won’t need for a period of time, it is usually invested in Certificates. You choose the term based on when you’ll need your funds and/or what rate of return you’d like to earn.

  • $500 minimum required to open a certificate
  • Terms: 6-months, 18-months, 1, 2, 2½, 3, 4, & 5 years
  • Dividends compounded monthly and paid monthly
  • Choose to have dividends posted to your account or compounded to your certificate
  • Automatic renewal
  • Early withdrawal penalty:
    • Terms 6-months to 18-months = 3 month dividends whether earned or not
    • Terms 2 years – 5 years = 6 month dividends whether earned or not

IRA

Thinking about retirement? There is no better time than the present to start saving or to make additional contributions for your retirement. Tax season is a great time to save for retirement as your contributions may be tax deductible*. Start saving today and open one of our IRA Certificates. Our IRA Certificates provide:

  • Greater earnings through a higher dividend rate
  • Peace of mind knowing that your retirement funds will earn a constant rate
  • Security knowing that your funds are federally insured by the NCUA
  • Traditional, Roth, and Coverdell (Education) IRA accounts are available to assist with retirement planning. These are ideal choices if you’re rolling over a plan from an employer.

There are two IRA investment plans:

  1. IRA Savings
    1. Balances up to $999 earn dividends higher than regular savings rates
    2. Balances above $1,000 earn slightly higher rates than IRAs up to $999
  2. IRA Certificates
    1. $1,000 minimum to open
    2. Terms: 1, 2, 2½, 3, 4, & 5 year
    3. Automatic renewal - certificate will renew automatically for the same term at maturity with the dividend rate in effect at that time
    4. Earns dividends, compounded and posted monthly
    5. Early withdrawal penalty of 6-months dividends (whether earned or not) may apply
    6. Funds are federally insured up to $250,000 by the National Credit Union Administration (NCUA)

*Please check with your tax advisor as tax advantages may apply.

Health Savings Account (HSA)

Health care costs are increasing annually. One option gaining popularity to manage health-related expenses is opting for a High Deductible Health Plan (HDHP). One then qualifies for a Health Savings Accounts (HSAs) to use to save for future qualified medical and retiree health expenses on a tax-free basis.

How it works

  • Save Time – You own the account, so it goes where you go, regardless of any job changes. Also, you can contribute at any time during the year and your balance rolls over from year to year.
  • Save Money – Your ability to deduct your contributions and the tax deferral of account earnings enable you to build your account. High health insurance policy deductibles mean lower premiums.
  • Protect Your Money – You will have an opportunity to save money to pay high or unexpected medical bills.

Accounts that can be used as HSAs include:

  • Rewards Checking with debit card
  • Money Market account
  • HSA Certificates - $1,000 minimum required to open a certificate, 1-5 year terms only
  • Club Savings accounts (excluding Christmas Club)

Visit the United States Department of the Treasury site to find out if a Health Savings Account is right for you.

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