When you join FOCUS Credit Union, you gain access to a wide variety of tools that are designed to help you achieve your financial goals, from simply saving for tomorrow to making your retirement comfortable. Credit unions operate differently from banks because opening a share account with a required $25 initial deposit makes you part owner of the credit union. You become a member, and that means you have access to the many services FOCUS Credit Union offers. One of the best is the diversity of ways we help you to save your hard-earned money, while making it work for you.
Regular Savings (Share) Accounts
A share account is the account you open when you join the credit union. Share accounts pay dividends on all balances over $100.00, which are compounded and paid monthly. You have access to your savings any time.
Money Market Accounts
Money market accounts differ from common savings accounts in that you are limited in the number of draws you can make on your savings on a monthly basis. Be sure to ask about the benefits and limits on these higher-yield accounts.
Money Market
Our regular money market account requires a minimum balance of $5,000 to open. Daily dividends paid on balances over $5,000 and rates are tiered for balances over $10,000.
Preferred Money Market
The Preferred Money Market account requires a minimum balance of $25,000 to open. Daily dividends paid on balances over $25,000 and rates are tiered for balances over $50,000 and $100,000.
Special Savings Clubs for Special Purchases
Some purchases just need their own account to grow and thrive. FOCUS Credit Union recognizes that setting money aside for vacations and holidays lets those funds grow without being pulled away for general expenses. Our Vacation Club and Christmas Club accounts are made to help you succeed in your savings goals.
Vacation Club Account
Plan ahead with a Vacation Club Account and start to build a vacation fund gradually. Dividends are paid on all balances over $100.00, which are compounded and paid monthly.
Christmas Club Account
Start saving at any time of the year to prepare for the Holiday season. The credit union will either issue a check or transfer to your savings account on November 1st to help with shopping expenses. Dividends are paid on all balances over $100.00, which are compounded and paid monthly.
FOCUS on Your Future
Retirement may seem like a long way in the future, but whether it is decades away or right around the corner, the time is right to build up your retirement savings portfolio.
Individual Retirement Accounts (IRA)
FOCUS Credit Union offers a full complement of IRA products to help you plan for retirement. Traditional, Roth, and Educational IRA Accounts are available in both Savings Accounts and Certificate Accounts. Stop by to ask about the terms and requirements and we’ll help you find the right account type to fit your IRA plans.
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