FCEFCU Savings Accounts
Growing your nest egg is easy when you invest at FCEFCU. Your initial deposit of $5 into a FEFCU savings account qualifies you for membership and grants you access to all its privileges.
As a member-owned financial institution, we return our profits to our members in the form of higher savings rates and fewer fees. Plus, your savings are insured up to $250,000 by the National Credit Union Administration, a U.S. government agency.
The minimum deposit to purchase a certificate of deposit is $500. Interest is paid at maturity for 3, 6, and 12 month certificates. Certificates of 18, 24, 30, 36, or 48 months pay dividends and compound on a quarterly basis.
A Traditional IRA account can be opened with a minimum of a $500 deposit. There are no service fees to maintain an IRA account. Transfers, rollovers, and new accounts are all welcome. IRA certificates are available for terms in 6 month increments between 6 months and 48 months.
A higher-paying savings account set up in a child’s name with the parent as the joint owner. The parent retains full control of the account until the child turns 18. No withdrawal limitation but we encourage parents to use this account as a long term savings plan for their kids. This is an excellent account to use with automatic payroll deposit. Money saved in the college savings account can also be rolled in to share certificates with a minimum of $500 to earn an even higher return.
A bare-bones savings account doesn’t sound fancy, but you can set up a small amount of your direct deposit to go into one or more savings accounts and set aside a little each month for your dream vacation or a little extra holiday spending cash. It just makes sense.
Have you set up your Direct Deposit?
Use the ease of payroll deduction or direct deposit to build your savings. FCEFCU is set up to receive direct deposits from any employer, and we process all automatic debits free of charge.
In addition to our online services, deposits can be made in person, through an automatic payroll deduction, wire transfer, or through the mail. Withdrawals may be made in person, a mailed cashiers check, or via a wire transfer.
Try Our Savings Calculator
Savings Calculator — calculate future value
This calculator easily answers the question "If I save 'X' amount for 'Y' months what will the value be at the end?"
The user enters the "Periodic Savings Amount" (amount saved or invested every month); the "Number of Months" and the "Annual Interest Rate" or the annual rate of return one expects to earn on their investments.
The calculator quickly creates a savings schedule and a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
The investment term is always expressed in months.
- 60 months = 5 years
- 120 months = 10 years
- 180 months = 15 years
- 240 months = 20 years
- 360 months = 30 years
If you need a more advanced "Savings Calculator" — one that lets the user solve for the starting amount, the amount to invest, the interest rate, the term required to reach a goal or the future value; or if you would like to easily print the schedule; or if you need to pick a different investment frequency, then you may want to try the calculator located here: https:/financial-calculators.com/savings-calculator
Effective July 1, 2017
Quoted rates are subject to change without notice.
Annual Percentage Yield
|Up to $5,000||0.01%||0.01%|
|$5,001 to $100,000||0.10%||0.11%|
College Club Accounts
Share or IRA Certificates ($500 Minimum)