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Savings Accounts & Investments |
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At HRCU we have a variety of accounts for you to save and protect your hard earned money.
Your deposits are now fully insured up to $500,000; $250,000 by the NCUA, a United States Government Agency and up to an additional $250,000 through Excess Share Insurance.
Your membership account is a regular savings with a minimum of $5.00. In order to keep your membership in the Credit Union, you need to keep this account open.
You have unlimited access to this account at any of our branches. You can also access the funds on-line, by phone or with your ATM/Debit card.
Club accounts allow you to save for Christmas, vacations, put aside money for taxes or a rainy day. It works just like a savings account with no minimum balance. * There is a $5 fee for early withdrawal from the Christmas Club Account.
Store Up for Winter!
HRCU's Home Heating Club Account has a Special Rate.
If you're concerned about the anticipated cost of heating your home this winter, you're not alone. Start putting money aside now, take advantage of this special rate, and be better prepared to pay those bills.
* Some restrictions apply - APY = Annual Percentage Yield - Special APY for balances up to $1000, then converts to regular HRCU savings rate - Withdrawals must be used to pay for home heating costs in the form of a bank check (at no cost to the member) or electronic debit. Qualifying forms of heat: oil, propane and electric. - Minimum of (1) withdrawal per year required or fee is incurred. - May not be exchanged for cash.
Health Savings Accounts (HSAs) were established in 2003 as a method to allow employers and/or employees to contribute to a tax deferred personal savings account which is used to pay smaller and routine medical expenses. These accounts are valuable to those with high-deductible health insurance plans as a way to cover out-of-pocket expenses. As an HRCU member, you can apply for an HSA. Amounts contributed to an HSA belong to you and are completely portable. Every year the money not spent stays in the account and gains interest tax-free, just like an IRA. Funds distributed from the HSA are not taxed if they are used to pay for qualifying medical expenses.
A $500 minimum balance is required to avoid the monthly service fee. If the account balance drops below $500 at any time during the month, there is a $3 monthly charge.
HRCU has a free HSA debit card that allows you access to your HSA account whenever you need it.
Call Member Services today!
All savings accounts are subject to the provisions of Federal Regulation D.
This regulation limits to 6 a month the amount of times you can automatically affect a transfer from your savings to checking. Some of types of transfers that fall into this category are:
- Automatic withdrawals by electronic transfer (ACH) so auto payments to your gym or investment counselor.
- Automatic transfers to cover overdrafts
- Transfers requested by phone
- Withdrawals done in person are exempt.
If you have any questions on this, please call our member service department.
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For members ages 18-25, our SmartStart account is great for those who are going off to college or just starting a new job.
Click here for details
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