A savings program is an important part of any financial plan, and Group Employee Services Federal Credit Union has the right one for you. Choose from our traditional savings account, the Christmas Club account, an individual retirement account (IRA) and certificate of deposit (CD) accounts.

Our rates are competitive and consistently higher than most financial institutions. Click rates for more information.

Savings accounts (also known as share accounts):
 

• $25 minimum opening deposit
   
• Dividends declared quarterly by the Credit Union’s Board of Directors
   
• Transfer money directly from your payroll / checking account into savings on a regular basis.
   

Christmas/Holiday Club
 

• Save for the holidays by regularly setting aside money in your Christmas Club account. Money is available for use on November 1 each year.
   
• Withdraw your Christmas Club money twice yearly without a fee. Withdrawals are $5 each time after the second withdrawal.
   
• Money from your paycheck, checking account or share account can be automatically transferred into your Christmas Club account on a regular basis.
   

Certificate of Deposit (CD)
 

• $2,000 minimum balance
   
• Available as six month, one year and two year time deposits.
   

Individual Retirement Account (IRA)
 

• Traditional, Roth and education (Coverdell) IRA’s
   
• Regular IRA share accounts and IRA Certificates of Deposit also available ($1,000 minimum)
   

 

Rates as of March 10, 2010

 

Savings	Dividend Rate	APY*
Share	1.00	1.004
Christmas Club	1.25	1.256
IRA Shares	3.00	3.034
Roth IRA Shares	3.00	3.034
Coverdell	3.00	3.034

 

*APY = Annual Percentage Yield.
Share Rate Declared by the Board 4-1-09.

Certificates	Dividend Rate	APY*	Term
6 Months (minimum $2,000)	1.16	1.166	6
1 Year (minimum $2,000)	1.41	1.419	12
2 Year (minimum $2,000)	1.86	1.876	24
IRA-1 Year (minimum $1,000)	1.41	1.417	12
IRA-2 Year (minimum $1,000)	1.86	1.873	24

 

*APY = Annual Percentage Yield. All early withdrawals are subject to a dividend penalty.
Share Certificates dividend paid monthly.
IRA Share Certificates paid quarterly.
Rates subject to change weekly.