Savings
Our savings products answer your unique requirements at each stage of your life. Whether you need to save for next Christmas or you’re just building a nest egg for the future, we want to help you reach your goals. You can also rest easy knowing that all savings accounts are insured to $100,000 by the National Credit Union Administration (NCUA), an agency of the U.S. government.
Member Share Account
This is your primary credit union account. It represents your ownership in Auto Body Credit Union. It also represents the beginning of a journey towards reaching your financial goals and dreams.
Money Market Account
Featuring a four-tier interest rate structure, this savings account puts your savings plan into overdrive. Based upon minimum balances of $2,000, $20,000, $75,000 and $200,000 these accounts make your savings work even harder to reach your goals. Interest is calculated using the daily balance method and is paid monthly.
Certificates of Deposit
Once you’ve put your basic savings plan in place, its time to really push your savings dollars. Certificates of Deposit are longer-term investments with a guaranteed rate of return. Typically, certificates offer the highest rates. Offering varying terms of maturity, certificates require a minimum investment of $500; interest is paid monthly.
Individual Retirement Accounts
Build toward your dreams with your choice of three different IRAs. Each offers a deferment on taxes and your earnings. Individual Retirement Accounts are insured to $250,000 by the NCUA, an agency of the U.S. government.
Traditional IRA—an excellent way to save for retirement. Now there are higher limits and new penalty waivers.
Roth IRA—The Roth offers greater flexibility than a traditional and doesn’t require withdrawal of funds at age 70 ½.
Coverdell Education Savings Account—Help your children reach their dreams with this account. Through this account you can save for post-secondary education for children younger than 18 years old.
IRA Certificates of Deposit
These certificates combine the value of a CD with the tax benefits of an IRA. Minimum investment is $500 and there is a penalty for early withdrawal. Interest is paid monthly and remains in the account until maturity.
Christmas Club Account
Take some of the stress out of the holiday season with our Christmas Club account. Plan with regular cash deposits or take advantage of payroll deduction. Funds will be deposited into your account on November 1.
| Standard Savings |
| Effective Date: 11/01/08 |
| Dividend/interest is calculated using the Daily Balance Method compounded and posted to the last day of each month. |
| Name | Minimum Balance | Divident/Interest Rate | Annual Percentage Yield (APY) |
| Member Share |
$5 |
.50% |
.50% |
| Penny Pincher |
$5-$99 |
.50% |
.50% |
| Penny Pincher |
$100 |
.75% |
.75% |
| Christmas Club |
$0 |
.50% |
.50% |
| Check Plus |
$500 |
.25% |
.25% |
| Money Market |
$2,000 |
1.39% |
1.40% |
| Money Market |
$20,000 |
1.64% |
1.65% |
| Money Market |
$75,000 |
1.88% |
1.90% |
| Money Market |
$200,000 |
2.62% |
2.65% |
| IRA (all) |
$0 |
1.39% |
1.40% |
| Certificates of Deposit |
| Dividend/interest is calculated using the Daily Balance Method compounded and posted the last day of each month. |
| Name | Minimum Balance | Divident/Interest Rate | Annual Percentage Yield (APY) |
| 6 Month |
$500 |
2.96% |
3.00% |
| 9 Month |
$500 |
3.11% |
3.15% |
| One Year |
$500 |
3.35% |
3.40% |
| 15 Month |
$500 |
3.45% |
3.50% |
| 18 Month |
$500 |
3.54% |
3.60% |
| Two Year |
$500 |
3.69% |
3.75% |
| Three Year |
$500 |
3.93% |
4.00% |
| Four Year |
$500 |
4.17% |
4.25% |
| Five Year |
$500 |
4.41% |
4.50% |
| Five Year Jumbo |
$50,000 |
4.51% |
4.60% |
