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Saving Plans Share Savings. Your share savings account represents your ownership – your share – in Allsteel Credit Union. There's a $5 minimum balance to maintain your credit union membership, but beyond that, there's no minimum to begin earning dividends. So it's an ideal way to begin accumulating savings for future goals. Money management experts also advise having three to six months' worth of living expenses as a reserve fund. Share savings are covered by Life Savings Insurance, a group-term life insurance program provided at no extra cost. The benefit is tied to the amount in your savings account up to the limits of the policy. It's a benefit of belonging, and a bonus for saving regularly. For a brochure, contact us at 630-906-2050 or 800-467-3162. Share Certificate. Share certificates earn a higher rate of return in exchange for your holding the certificate until maturity. There are penalties for early withdrawal. Therefore, time the certificates so that if you should need the money, you'll have easy access to it without paying a penalty. We have a wide range of terms to help you reach a variety of goals – from next summer's vacation to a down payment on a new car. Share Market Index Certificate. Ride out the stormy seas of the stock market with a Share Market Index Certificate. You'll earn dividends based on the Standard and Poor's Composite Stock Price Index. If the S&P 500 is higher on the day the certificate matures than it was on the day it was established, you earn a percentage of any increase. If it's lower, you don't earn dividends, but your original deposit is returned in full. Match the term – one year, two year, four year, or seven year – with your savings goal. Money Market Accounts. Earn prevailing money market interest rates on funds you need ready access to. A great place to stash your cash until it's time to make tuition payments, set sail on your vacation cruise, or make a down payment on a new vehicle. |
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Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union dministration, a U.S. Government Agency. Learn More › |
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