Term Share Certificates
Term Share Certificates are investments featuring set dollar amounts with fixed terms and fixed rates. It’s a high-yield means of earning the maximum return on your deposit. Stoneham m.e. FCU offers a variety of share certificate options that provide ease and flexibility in starting an investment program. Please note that Share Certificates are subject to substantial penalties for early withdrawal.
Members under age 19 can earn “grown-up” dividends with the same great terms and rates as a regular certificate, but requiring only a $250 minimum. The Youth Savings Certificate helps young people yield more for their savings sooner.
This savings account is for member groups and businesses. The minimum amount required to open the account is $5.00. An example of a member group is a D/B/A (Doing Business As) opened with the member’s social security number. Business accounts include the following type of organizations and must be opened with a Tax ID number:
Note: Loans are not offered to Organizational account holders.
Don’t have a retirement plan at work? Perhaps an Individual Retirement Account would be beneficial in saving for the future. An Individual Retirement Account (IRA) is a sound way to save for retirement. A Stoneham m.e. FCU IRA allows you to save a portion of your earned income each year while earning competitive dividend rates.
Please note that IRAs are insured separately from your other deposit account(s) by the National Credit Union Administration (NCUA). IRAs are insured in the aggregate to $250,000 (ask us for an Insured Funds Brochure for more detail).
Stoneham m.e. FCU offers several investment options for IRAs with no fees or maintenance charges:
Your IRA Share Account may be used for periodic contributions (including automatic deposits and transfers) throughout the year. Our high interest earning Traditional Share Certificate IRAs may be purchased with a minimum of $10,000 for a term of either 36 or 60 months.
Consult your tax advisor for clarification on tax implications (eligibility, contribution limits, deposit deadlines, etc.) and to help you make decisions regarding retirement and education investment options.