6 Ways to Save at IAA Credit Union
Many of us have goals that likely include building a better financial foundation for ourselves. Building a healthy financial foundation involves developing sound savings habits. IAA Credit Union offers a variety of savings options to fit all your different savings goals.
1. Club Accounts
Club accounts are a great way to save for a short-term goal such as your next summer vacation or the next holiday season. With these accounts, you can deposit a lump sum OR save a little each paycheck while earning interest throughout the year. At IAA Credit Union, we offer two different club account options: Christmas Club and Vacation Club.
- Christmas Club: Make the holidays more financially manageable with our Christmas Club! Your Christmas Club savings will be disbursed into your Primary Share Savings account on the first Friday in October so you can start your holiday shopping!
- Vacation Club: Enjoy the summer fun without the financial stress with our Vacation Club! Your Vacation Club savings will be disbursed into your Primary Share Savings account on the first Friday in April so you can start booking your summer vacation, kids camps. traveling sports, have money set aside to pay for summer childcare, and more!
2. Share Certificates (CDs)
Share Certificates, commonly referred to as Certificates of Deposits at banks, or CDs, offer flexible maturities ranging from 6 to 60 months. A minimum deposit of just $1,000 is required and dividends are compounded daily. Lock your money away at a fixed rate for a fixed period.
We also offer Youth CDs to our youth members ages 18 and under! Open a Youth CD for just $500!
3. Money Market
A Money Market is a type of savings account that earns a higher interest rate than a traditional savings account while still allowing you to have access to your money as you need it.* All you need is $1,000 to get started!
If you have your direct deposit coming to IAA Credit Union, you are a Platinum Member and automatically qualify for our Platinum Money Market that earns a higher rate than our traditional Money Market.
4. Premier Savings
Our Premier Savings account is designed to offer you the best of both worlds: high returns on your savings and the flexibility to use your money when you need it. Premier Savings offers a higher rate. unlimited withdrawals, easy access, and no minimum balance! The rate applies to balances up to $20,000 and interest is paid quarterly.
5. IRA: Retirement Savings
IAACU offers both Traditional and Roth Retirement Savings. You have the flexibility of choosing investments and contributions. start investing in your future!
6. Youth Savings
Teaching kids the importance of saving at a young age is important. IAACU offers savings accounts to all youth members! Local Kids Club members (ages 0-12) can come into the lobby to deposit their money into their Kids Club Savings and earn Kids Club Cash to be used to buy toys at our Kids Club Corner in our lobby!^ This is our way of rewarding our youth members for saving!
*Federal regulations limit withdrawal transfers to six per month.
^Kids earn $1 in Kids Club Cash for every $5 deposited into their Kids Club Savings account. Money must be deposited in person. Transfers into account does not qualify.
