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Your Savings Options
Your savings dollars at the Credit Union are called
"shares". The funds you deposit in your
Credit Union share (savings) account are in turn
invested by the Credit Union or loaned to your fellow
members. At HEWFCU we provide you with a variety of
ways to save:
Money Management
(a checking account that earns dividends)
Money Management A Money Market account insured up to
$100,000 by the National Credit Union Administration.
It gives you high money market rates with none of the
risk involved in uninsured Money Market Mutual Fund
investments. You have complete access to all of your
funds at any time, without penalty. All that is
required is a minimum investment of $1,000. If your
balance falls below $1,000, then the rate is the same
as savings. An additional $250,000 per account share
insurance is provided by Excess Share Insurance, a
private deposit insurer. Also, your Money Management
account now allows you to make transfers.
Share Certificates
These Certificates of Deposit are available for fixed
terms. Interest rates vary according to the term.
Please contact our Member Services Department for
current offerings. Substantial penalties apply for
early withdrawal. $1,000 minimum deposit.
IRA
Start Saving now for your retirement. Our Individual
Retirement Accounts are available with fixed or
variable rates and terms.
Holiday Savings
Let us know the amounts you plan to set aside and how
you wish to pay, payroll allotments, by mail or in
person , and earn daily dividends on balances over
$100, paid and compounded quarterly. In November, your
funds will be directly deposited into your Credit
Union account. Payroll Allotments or Direct Deposit
Have a specific amount automatically transferred from
your pay to your shares � make saving easier without
standing in line or fund your share draft account by
direct deposit of net check.
Security
All member accounts with the Credit Union are
federally insured to $100,000 by National Credit Union
Administration, an agency of the U.S. government. All
IRAs are separately insured to $ 100,000 by NCUA. In
addition, the Credit Union carries other types of
insurance and holds ample funds as required by law in
reserve to provide for losses and other unforeseen
contingencies.
Your Checking
Options
The Share Draft Account is your Credit Union
"checking" account.
Share Draft
Features
No minimum balance monthly statements overdraft
protection 24-hour access to your account via ATMs
Direct Deposit avoid waiting in lines in the office;
sign up for direct deposit and have your net check
automatically transferred to your share draft account.
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