DCCU Routing # 251483311
DCCU Routing # 251483311
How can DCCU help you today?
Grow Checking from DCCU pays you dividends when you use your debit card each month. Ideal for members who prefer to use their debit card and enjoy eStatements, the benefits of a Grow account are numerous.
Did you know there are different types of savings accounts? Learn more about traditional savings accounts, as well as Certificates of Deposit, Money Market Accounts, and Individual Retirement Accounts (IRAs).
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. There is a set number of withdrawals you can make per month without penalty. Money Market accounts usually pay a higher rate than savings accounts, but normally lower than CDs. These accounts are also insured by the federal government and require a higher balance than a savings account.
Certificates of Deposit allow you to invest your money at a set interest rate for a preset period of time. They often have higher interest rates than traditional savings accounts because when you buy one, you are actually loaning the financial institution money for a set period of time and getting interest in return — the longer the term (ranging from 6 months to 5 years) the higher the rate. But be sure you do not need to draw on those funds before you open a Certificate of Deposit, because early withdrawals may result in financial penalties.
Club accounts are savings accounts that you can open to help save for a specific purpose you choose. From building an emergency fund, building a nest egg, paying for holiday shopping, or even saving for a vacation, these accounts earn the same dividend rate as Share Savings account, and funds are available at any time.
A savings account is usually the first banking product people use and is a great way to meet short-term goals. Savings accounts earn a small amount of interest and are considered to be low risk. It is also easy for you access your money when needed. 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 $5 balance in your Share Savings Account represents your share in the Credit Union.
Individual Retirement Accounts (IRA)
Your retirement shouldn’t be left to chance. DCCU’s Individual Retirement Account (IRA) options can get you where you want to be with solid growth. Your annual contributions are based on federal regulations, which can change. Consult your tax advisor to determine which IRA is right for you.
With a Traditional IRA, you won’t pay taxes on your earnings until you begin to withdraw them. Some of your contributions may be tax-deductible, and you’ll want to talk to your tax advisor for details. You can contribute money at any age, as long as you or your spouse have earned income. You must start withdrawing money at age 72.
With a Roth IRA, you can contribute money at any age, as long as you or your spouse have earned income. You won’t pay taxes on your qualified withdrawals, but certain tax requirements apply. Members, age 59 ½ can make tax-free withdrawals after the account has been active for five years. First-time homebuyers may withdraw funds tax-free for home purchases after the account has been active for five years. There is no requirement for members age 72 to take distributions.
Member Investment Services
Member Investment Services (MIS) is here to help with your investment needs. Our team of financial advisors can offer you professional guidance and objective advice about a variety of topics. Whether you are planning for retirement, want to find the right investment, plan for your estate or college, they have you covered. Schedule a no-obligation appointment with one of our representatives today.