SAVINGS OPTIONS: Shares, Money Markets, Term Shares, IRAs, Club Accounts
Capitol Region offers savings products for many needs: Share/Savings; Money Market Accounts; Term Shares; Share and Term Share IRAs (Traditional, Roth, Education); Holiday/Christmas Clubs and Vacation Clubs.
With versatile Regular Share accounts (similar to savings at other types of financial organizations), members can make deposits and withdrawals in any amount whenever desired.
Money Market savings are also flexible (see below.) They pay higher dividend rates and are offered at minimum opening deposit levels of $2,500 and $10,000.
For our highest dividend rates, Term Shares (similar to certificates of deposit) offer terms from three to 60 months with a minimum deposit of $1,000; and IRA Term Shares, with a minimum deposit of $1,000, are offered at terms of 12 to 60 months.
Members with our Capitol and Capitol Plus packaged accounts earn bonus dividend rates for both Money Market Accounts and Term Shares. Compared to regular accounts, Capitol accounts earn 10 extra basis points (.10%), and Capitol Plus accounts earn 20 extra basis points (.20%).
Holiday/Christmas Clubs and Vacation Clubs are convenient ways to save over a period of time for life's special events. It's surprising how fast $10, $20, $30...or any amount selected...adds up when it's saved every payday.
Payroll deduction/direct deposit is recommended to facilitate regular automatic contributions to members' accounts. Human resources and payroll professionals have the details about the simple enrollment process. Or you can call Account Service at 513-4024 x205 for assistance.
MONEY MARKET ACCOUNTS
For higher dividends combined with easy access, new Money Market accounts can be opened at two levels of minimum opening balances: $2,500 and $10,000. There are no annual fees or maintenance fees.
After a money market account is open, additional deposits may be made at our offices or by direct deposit/payroll deduction, or by mail. Withdrawals and transfers can be made as frequently as desired: so long as the minimum opening balance is maintained, there is no fee or penalty for withdrawals.
Capitol Connection and CRFCU@Home can also be used to transfer money market funds to or from other CRFCU deposit products, or to review money market activity.
Dividends are paid at variable rates that are higher than Regular Share rates. Rates may change at any time. Dividends are calculated on average daily balances and are credited monthly.
CHECKING ACCOUNTS ARE FREE:
Capitol Region offers FREE checking. There's no initial fee. No annual fee. No per check fee. No service fee. No minimum balance requirement. Our checking accounts are simply... FREE.
Members get (free) monthly statements summarizing all activity. And they can sign up for Capitol Connection audio response or CRFCU@Home home banking (both free), so they can review transactions and balances whenever they want. We also provide part of the first check reorder free. Members can re-order checks at our offices, by mail, phone or online from the comfort of home or workplace.
We recommend the use of payroll deduction/direct deposit (also free) to ensure that funds are available with no delay for use every payday...which is particularly helpful when members can't visit us in person.
"Share drafts" accounts are what credit unions call checking accounts.
CAPITOL REGION FCU GIVES YOU LOTS OF CHOICES...
From a basic savings account to our most advantageous free packaged account, called the Capitol Account Plus, we're confident that you'll find all the financial services and products you need. And you'll be surprised and pleased to find that so many are free!
We invite you to browse our products, to visit our three offices or contact us with any questions.
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