TYPES OF SHARES

 S. W. A. T.


Regular Share Account: This is the account you open when you join the credit union. It establishes the rights and privileges of your member-ownership in the credit union.This account has a minimum balance of $25. You will earn dividends quarterly if you maintain a balance above $100. Dividends rates are set by the Board of Directors and are tiered based on your account balance.

Share Draft (Checking) Account: All of our checking accounts offer unlimited fee-free transactions at any UYFCU ATM, and no per check charges. There are three different checking account options to choose from. Apprentice Checking, Journeyman Checking, and Master Craftman Checking...more

Teen/Minor Account: This account is designed for responsible teens. This is the perfect way for minors to save for future goals and learn about financial responsibilities. An adult is required to be a joint owner on this account. However, the minor can do transactions on this account on his or her own. A minimum balance of $25 in required. The membership fee is waived. Dividends are compounded quarterly and paid on daily account balance of $100 or more...more

Custodial Account: Also known as the California Uniform Transfers to Minor Act (UTMA) Account. This account is opened for the benefit of the minor, and the only person authorized to transact on this account is the custodian. This account provides a way to save for a child and not be taxes on the earning. A minimum balance of $25 is required. The membership fee is waived. Dividend are compounded quarterly and paid on daily account balance of $100 or more...more

Vacation/Holiday Account: These accounts help you ease the financial burden of your two biggest expenses of the year. Contribute small amounts on a weekly or monthly basis and watch your saving grow. Make it even easier by signing up for payroll deduction or automatic transfer to these accounts. Holiday account checks are distributed in November; just in time for holiday shopping. The minimum balance to open this account is only $5. Dividends are compounded quarterly.

Money Market Account: Looking for a higher yield while keeping your fund available? Then the money market account is the answer. You are allowed up to six withdrawals or transfers from this account per month. A minimum balance of $500 is required to open and maintain this account. Interest is compounded daily and paid monthly. Dividends rates are tiered depending upon the average daily balance.

Certificates of Deposit/Term Certificate: If you are not going to use your funds in the near future and want a higher yield, a certificate of deposit is the way to go. We offer a low minimum balance of $500 and terms to fit your financial needs. Terms range from as short as 30 days, and as long as 5 years. Dividends are paid quarterly and at maturity. Early withdrawal penalties may apply.

Flex Certificates of Deposit: If you are looking for a higher yield and flexibility, a Flex Certificate will give you both. You may make unlimited deposits of $500 or more and have penalty-free withdrawal options for maximum flexibility. You can even do a rate modification if rates go up during the term of your Certificate. A low minimum balance of $500 is required and the terms are 12 and 24 months.

Traditional Individual Retirement Account (IRA): Contributing a tax-deductable Traditional IRA account can help you save on your taxes and help you prepare for a comfortable retirement. It is never too late to start saving for your retirement, and as many experts say, it's almost impossible to catch-up once you behind in funding your retirement. A benefit of a Traditional IRA is the growth is tax-deferred. This means the interest earned is only taxed when withdrawals are made. Individual Retirement Account can also be put into a Term Certificate to maximize your earnings.

Roth IRA Account: Like the Traditional IRA, a Roth IRA is also a great way to save for your retirement. The difference between a Traditional IRA and a Roth IRA is contributions to Roth IRA are not tax-deductible. However, the growth (interest earned) is tax-free as long as you have had the account open for a minimum of five years and have reached the age of 59 1/2.

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