|
|
|
 |
Savings
ABCU offers a wide range of savings accounts and investment plans to meet the needs of most members. All savings accounts are federally insured to $100,000 by the National Credit Union Administration - a U.S. Government Agency. IRA's are insured for an additional $250,000.
Savings (Share Account): This account is your primary credit union account and it represents your ownership in Auto Body Credit Union. It is the foundation for all services and benefits.
Trust Accounts: We offer several different Trust accounts and Revocable Trust accounts. Call for specific information.
Money Market Accounts: Our Money Market Account (MMA) features a three tier interest rate structure, with a minimum balance of $2,000 and a higher interest rate for accounts with balances over $20,000 and 75,000. Interest is calculated using the daily balance method and paid monthly. Interest is not earned for any day the balance is less than $2,000.
Christmas Club Account: A Christmas Club account is an excellent way to save for annual holiday expenses. Plan for the future with regular cash deposits at your convenience or take advantage of payroll deduction. Your funds will be automatically transferred to your ABCU checking account on November 1. If you do not have a checking account, the funds will be transferred to your primary savings account. Our Christmas Club account pays the same dividend as our regular savings.
Certificates of Deposit: Certificates are longer term investments with a guaranteed rate of return. Normally, certificates provide the highest rate of return on savings. We offer varying rates of maturity ranging from six months to five years. Certificates require a minimum investment of $500; interest is paid monthly and can remain in the account or be transferred to another savings account. There is a penalty for early withdrawal.
Individual Retirement Accounts: IRAs are an excellent investment to defer taxes on your earnings. ABCU offers the Traditional, Roth, and Coverdell Education Savings Account.
IRA Certificates of Deposit: Certificates require a minimum investment of $500 and there is a penalty for early withdrawal. Interest is paid monthly and remains in the account until maturity.
Youth Savings Account: ABCU is committed to helping educate our youth about the importance of saving money and managing finances. All members under the age of 18 are automatically enrolled in the Penny Pincher Youth Savings Club, which can help instill the value of saving now and help youth develop healthy financial habits that will benefit them as they become young adults.
Prime Life Club: This package of money-saving services is designed specifically for ABCU members at least 60 years old who have direct deposit of Social Security or pension benefits to their ABCU account. Call or stop in at any of our four offices to enroll; we'll provide you an identification card which allows you the following additional services at no cost:
We value our members and hope you will continue to rely on us for all your financial needs even in retirement.
 |
 |
 |
