Savings

We’d like to talk about your goals so we can recommend the best savings option for you:

  • Savings Account
  • Money Market Account
  • Certificate (also called CDs)
  • Investment options through Member Investment Services

So if you’re saving for a specific purchase or event, a certificate may be your better option. Or, if you have excess funds for a short period of time, then a tiered Money Market account might be your choice.

Accurate as of: 06/06/2013
Rates subject to change without notice.

1 APR = Annual Percentage Rate

2 APY = Annual Percentage Yield

Type Features APR1 APY2 Range
Savings Minimum Balance of $25 0.15% 0.15%


For money that you won’t need for a period of time, it is usually invested in Certificates (also call CDs). 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 mos,1 yr, 18 mos. = 3 month’ dividends whether earned or not
    Terms 2 yrs – 5 yrs = 6 month’ dividends whether earned or not

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

140 Lucy Lane P.O. Box 1365, Waynesboro, VA 22980


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