MONEY MARKET ACCOUNTS
Money Market Accounts offer higher rates of return with
limited check writing privileges so your money is still
accessible while earning interest.
Minimum deposit of $5,000 is required.
Remember, you can only write three checks or perform six "remote" transactions each month for your Money Market Account.
CERTIFICATES OF DEPOSIT (CDS)
With a CD, you can invest a specific amount of money for a specific period of time and Zeal Credit Union will guarantee your rate of interest for that period of time. CDs offer better rates of return than standard savings accounts.
CDs can be opened with a minimum of $100 and terms are available from 91 days - 60 months. Longer terms provide greater interest rates.
Remember, money cannot be withdrawn from a CD during
the term without pernalties, and no additional deposits are
accepted during the term.
IRAS
IRAs allow members to invest a part of their income each
year before taxes and to defer taxes** on earnings from
those investments. IRAs are taxed only when money is
withdrawn, typically after the retirement transition to a lower tax bracket.
IRAs can be opened with a minimum of $5 and there are no start-up or maintenance fees.
- Traditional IRAs -Contributions can be tax
deductible** but distributions are taxed.
- Roth IRAs - Contributions are not tax deductible
but qualified distributions can be withdrawn tax-free.
- Coverdell Educational Savings Account (ESA) -
Designed specifically for college savings.
- SEP IRA - Designed for small business owners and
their employees.
Remember, early IRA withdrawals can result in penalties and tax obligations.
*Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free 800-369-2862. Non deposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. FR111215-8F7B **Zeal Credit Union is not licensed to offer tax advice. Please consult a tax advisor about your specific situation, or for information on any tax incentives you may be eligible for.
