Savings accounts are not one size fits all.
That’s why we offer several different types of savings accounts to meet your needs, whatever they may be.
Regular Share
- Simple savings accounts that earn dividends on an average daily balance method.
- There are no penalties for withdrawals nor minimums for deposit.
- To become a member of LCU, you’ll start with a $25 savings account.
- ATM cards are available.
Truth in Savings
- A minimum deposit of $25 must be maintained.
- No monthly account/service fees with minimum deposit.
- An average daily balance of $100 is required to obtain the Annual Percentage Yield for the monthly dividend period.
- Dividends are compounded and paid monthly.
- Limit of six (6) withdrawals per month
Share Certificates
- Portfolio of options for members who want to earn a higher return on their savings
- A safe way to earn a guaranteed return on your deposit
- Terms range from 91 days to 3 years. The longer the term, the higher the return.
- Funds cannot be withdrawn during the set term
- View current rates here
Vacation & Christmas Club
- Put a little money aside each payday to save for your dream vacation or Christmas gifts.
- For Vacation Club accounts, checks are automatically mailed in May
- For Christmas Club accounts, checks are mailed in November
- No minimum required
IRA
- Options to help you save for retirement including Regular IRA and Roth IRA
- Contributions to regular IRAs are tax deductible and you can rollover money from other qualified retirement accounts, such as a 401K.
- Contributions to Roth IRAs are not tax deductible, but earnings grow tax-free. Pay no taxes when you withdraw the money if it’s been in the account for at least 5 years and you are 59.5 years or older, or if you become disabled.
- All accounts are available as a regular savings account or a share certificate
- Deposits are insured by the NCUA
- If you would like more information about LCU’s IRA options stop by or call us at 423-581-8345, ext. 182 today!
As you can see, there is a saving account for every need. Stop by one of our branches today to get started!