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.
