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Savings & Shares

Take another step closer to your financial goals the moment your membership begins. This interest-earning primary share (savings account) provides a great way to save while giving you access to the benefits of being a part of the HRCU family.

Features
  • Begin your HRCU membership by opening and maintaining this account
  • $5.00 minimum balance required
  • No monthly maintenance charge
  • Maximum of six electronic withdrawals per month
  • Interest is paid at the end of each month
  • Access your funds through Co-Op Network ATMs, our 24-hour ATMs, as well as Online Banking and Mobile Banking
Rates

Savings Accounts

Minimum DepositRateAPY*Minimum Required to Earn APY
Savings & Shares$5.05%.05%$5
Elements of Savings$51.98%2.00%$5
$1,000.05%.05%$1,000
M3 Money Club$51.98%2.00%$5
$1,000.05%.05%$1,000

*Annual Percentage Yield. All Dividends are based on the Average Daily Balance and are paid monthly. All rates are variable and subject to change without notice. Penalty for early withdrawal applies to Certificates of Deposit. Deposits are fully insured up to $500,000; to at least $250,000 by the NCUA and $250,000 by Excess Share Insurance. IRA deposits are fully insured up to $500,000; $250,000 by the NCUA and $250,000 by Excess Share Insurance.Maintenance or activity fees could reduce the earnings on the account.

Club Accounts

This account is ideal for the member who is looking to set aside a few extra dollars for the holidays, a vacation, taxes or even just a fun rainy day!

Features
  • No monthly maintenance charge
  • Interest paid at the end of each month
  • Maximum of six withdrawals per month
  • Nickname your account according to your purpose
Rates

Club Accounts

Minimum DepositRateAPY*Minimum Required to Earn APY
Create-A-Club$0.05%.05%$5
Christmas Club$0.05%.05%$5
Home Heating Club$01.98%2.00%$5
$1,000.05%.05%$1,000

*Annual Percentage Yield. All Dividends are based on the Average Daily Balance and are paid monthly. All rates are variable and subject to change without notice. Home Heating Club requires 1 withdrawal per year, or a fee of $25 will be incurred; if the account is closed within 1 year of opening a $25 fee will also be incurred. Christmas Club has a $5 penalty for early withdrawal. Deposits are fully insured up to $500,000; to at least $250,000 by the NCUA and $250,000 by Excess Share Insurance. Maintenance or activity fees could reduce the earnings on the account.

Money Market

Your money will work harder for you with this account option. Earn a higher rate of return to help you achieve your financial goals.

Features
  • Interest paid at the end of each month
  • Maximum of six withdrawals per month
  • $2,500 minimum balance required in order to earn interest
Rates

Money Market Accounts

Minimum DepositRateAPY*Minimum Required to Earn APY
$2,500.60%.60%$2,500
$10,000.70%.70%$10,000
$25,000.80%.80%$25,000
$50,000.90%.90%$50,000
$100,0001.00%1.00%$100,000

*Annual Percentage Yield. All Dividends are based on the Average Daily Balance and are paid monthly. All rates are variable and subject to change without notice. Penalty for early withdrawal applies to Certificates of Deposit. Deposits are fully insured up to $500,000; to at least $250,000 by the NCUA and $250,000 by Excess Share Insurance. IRA deposits are fully insured up to $500,000; $250,000 by the NCUA and $250,000 by Excess Share Insurance.Maintenance or activity fees could reduce the earnings on the account.

Health Savings Checking Account

We are proud to offer members a smart solution for healthcare spending! Interest earned on funds deposited into your HSA can be used to pay for qualified medical expenses tax-free. This account has no opening or monthly fees, and it's a high-yielding interest rate pays at least twice that of other local financial institutions offering HSAs.

Additional Details
  • All HSA contributions (up to the yearly limit) are tax deductible
  • Any interest earned is tax-free if used to pay for qualifying health expenses
  • Funds can be accessed with a VISA® HSA Debit Card or traditional checks
  • HSA owners age 55 and older can even contribute an extra $1,000 per year over regular annual limits to further build that nest egg for healthcare expenses that may be encountered during retirement
  • Unused HSA funds are not forfeited at the end of the year

Qualified out-of-pocket medical expenses include:

  • Doctor visits
  • Prescriptions
  • Vision
  • Dental
  • Chiropractors
  • Acupuncturists
  • And more...
Rates

Checking Accounts

Minimum DepositRateAPY*Minimum Required to Earn APY
$2,5001.49%1.50%$2,500
$10,0001.98%2.00%$10,000

*Annual Percentage Yield. All Dividends are based on the Average Daily Balance and are paid monthly. All rates are variable and subject to change without notice. Penalty for early withdrawal applies to Certificates of Deposit. Deposits are fully insured up to $500,000; to at least $250,000 by the NCUA and $250,000 by Excess Share Insurance. IRA deposits are fully insured up to $500,000; $250,000 by the NCUA and $250,000 by Excess Share Insurance.Maintenance or activity fees could reduce the earnings on the account.

To be eligible for HSA, owner must have a qualified, high deductible health insurance plan.

Funds withdrawn for non-qualified expenses will be taxed at your income-tax rate, plus a 20% tax penalty if under the age of 65.

The Internal Revenue Service (IRS) states that a negative balance in your HSA account is prohibited by federal law. This means that you cannot have any transaction, fee or charge that causes your HSA account to have a negative balance. It is extremely important that you do not overdraw your HSA account.

We encourage you to set up an account balance alert on your HSA account to help effectively manage your account and avoid a negative balance. By opening an HRCU HSA, you agree to immediately deposit sufficient funds to eliminate any negative balance should that situation occur, and also authorize HRCU to transfer funds from any other HRCU account in which you have an interest, to create a non-negative balance in the HSA checking account.

If you do not correct a negative account balance immediately, The IRS will consider your account in a prohibited state and by law HRCU must close your account. According to the Internal Revenue Code, if an HSA account results in a negative balance, the HSA will cease to be an HSA on the first day of the year in which the prohibited transaction occurred, thus becoming taxable.

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