Share Certificates
Our Share Certificates are safe investment products, which offer guaranteed returns, with higher
balances earning higher rates. We offer minimum deposits of just $500 with flexible terms ranging
from 3 to 60 months.
Click here to see our current rates.
Money Market Accounts
Enjoy competitive dividend rates on high balance liquid accounts. Our money market savings account
allows you to earn a high rate – and have access to your money when you need it. We offer two
types of money market accounts, starting with a minimum deposit of just $500. You’ll receive a free
starter kit of checks and can make six withdrawals per month (i.e. check, draft, debit card, online
and Bill Payer transactions).
Click here to see our current rates.
Club Accounts
Savings Club Accounts are a great way to set aside a little money each pay period to save for holiday
expenses, a special vacation, or any unexpected expense, which inevitably happens from time to time.
For as a little as $5.00, you can open this account and utilize automatic transfers each pay period,
to make saving easy and definite. This account earns the same interest rate as the traditional
savings account.
Kids’ Count Account
Your children will learn about money and savings through you. What better way to get them started than
with an Aspire FCU Kids’ Count. You only need one dollar to open a Kids’ Count for youngsters under the
age of 18.
Custodial Accounts
A Custodial Account is another savings vehicle for your children. It allows you to save money for your
child’s future needs, while shifting taxes on the account’s earnings to the child’s lower tax rate.
Please consult your tax advisor for complete details and specific advice.
| Individual Retirement Accounts (IRAs) |
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Aspire FCU offers many IRA products to enhance your retirement plan. You may choose from
Traditional and Roth IRAs, Coverdell Education Savings Accounts, as well as, an Advantage
Accumulation IRA, which utilizes the convenience of Direct Deposit to build up your savings
automatically. Most important, your funds are safe at your Credit Union. Your accounts are
insured up to at least $250,000 by the National Credit Union Administration, NCUA, a US
Government Agency.
You will find a comprehensive description of IRA plans and regulations below; please consult
your tax advisor for guidance. Contributions may be fully or partially tax deductible or
non-deductible. Please consult your tax advisor for your specific tax advantages.
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Roth IRAs
- Dividends are tax-free upon distribution
- Contributions cannot be tax deductions
- Contributions can be made at any time until April 15th of the following year
- Withdrawals can be made without penalty at any time after age 59 1/2*; no required
distribution age
- Contribute up to $4,000 annually, provided that income from compensation is equal
to or greater than the IRA contribution.
Maximum Income Requirements to Contribute to Roth IRA’s
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| Filer Type |
Full Contribution - if your adjusted
gross income is less than: |
Partial Contribution - if your adjusted
gross income is between: |
|
Single Filer |
$95,000 |
$95,000 to $110,000 (no
contribution if over $110,000) |
|
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Married filing
jointly |
$150,000 |
$150,000 to $160,000 (no
contribution if over $160,000) |
|
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After 2008, the
contribution limit will be adjusted annually for inflation in $500 increments |
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*Distributions prior to age 59 1/2 are subject to a 10% IRS early withdrawal penalty unless:
Advantage Accumulation IRAs
This IRA is perfect for individuals that find it easier to make a number of smaller contributions
over a longer period of time. The Advantage Accumulation IRA can be classified as Traditional
or Roth. Once it is classified, you will be able to enjoy all the features and restrictions of
that particular type of IRA.
- Open an account with as little as $5
- No set term
- Earn competitive, variable dividend rates
- Make automatic deposits through direct deposit
Coverdell Educational Savings Account - Educational IRA
This Educational IRA is ideal for those individuals looking to save for the educational costs
of a named beneficiary.
- Open an account with as little as $500
- Available terms: 3 months to 60 months
- Tiered dividend levels and rates
- Distributions are generally tax free if used for these types of expenses:
- Expenses incurred in connection with the enrollment or attendance of the beneficiary at
a public, private or religious elementary or secondary school
- Post-secondary tuition, fees, textbooks, supplies and equipment
- Post-secondary room and board expense - only if the beneficiary is enrolled on at least
a half-time basis at an eligible institution
- Contributions can be made at any time during a calendar year
- Contribute up to $2,000 annually for each beneficiary up to their age 18.
Maximum Income Requirements to Contribute in Coverdell Educational Savings Accounts
|
|
|
| Filer Type |
Full Contribution - if your adjusted
gross income is less than: |
Partial Contribution - if your adjusted
gross income is between: |
|
Single Filer |
$95,000 |
$95,000 to $110,000 (no
contribution if over $110,000) |
|
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Married filing
jointly |
$190,000 |
$190,000 to $220,000 (no
contribution if over $220,000) |
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- Distribution is made due to account holder's death
- Distribution is made to an account holder who has become permanently and totally disabled
- Distribution is made as a part of a series of substantially equal periodic payments
- Used to pay medical expenses in excess of 7.5% of account holder's adjusted gross income
- Used to pay health insurance premiums for participants unemployed for 12 or more weeks
- Used for the first-time purchase of a home (up to $10,000)
- Used to pay for qualified higher education expenses
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