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Investments

 Put Your Money to Work

You work for your money, now put your money to work for you! 

Service One’s investment rates compare favorably to other financial institutions. Take your time and look over our investment rates, and give us a call if you have any questions.

 Investment Rates

Dividend Checking

 EASY Says it All!

Our best account for those who want to earn dividends on their checking balance.

Access your account in the ways you prefer. You can choose to:

  • Enjoy the convenience of Online Banking to see your balance
  • View your monthly statement on our Home Page, or receive a paper statement, the choice is yours
  • Make purchases with your Service One Visa® Debit Card or pay by check
  • Monitor your checking activity Online or with our One Call audio response system
  • Maintain a minimum balance of just $1000 – and pay no monthly service fee; a service fee of $7.75 is applied if the minimum balance requirement is not met.

IRA

 Plan for Your Future with an IRA

It’s never too early or too late to start planning for your retirement.

Experts predict that the average American will need nearly 70% of their pre-retirement income to maintain a comfortable lifestyle after retirement. Our federally insured IRAs earn high investment rates. Dividends are determined by the credit union, compounded quarterly and have withdrawal and contribution limitations.

IRA and savings deposits are federally insured by NCUA to at least $250,000. For more detailed information view the NCUA Your Insured Funds Pamphlet. The IRAs available at SOCU are:

Traditional IRA

  • Contribute up to $6,000 a year or $7,000 if you’re age 50 or older.
  • Earnings are based on the balance of your account.
  • Savings grow tax-deferred. (Possible tax deduction.)
  • Withdraw at age 59 1/2 without penalty. Can make withdrawal earlier but will have tax consequences.
  • Catch up contributions are available for individuals age 50 and over.
  • Consult your tax advisor.

 

The Roth IRA

  • Contribute up to $6,000 a year or $7,000 if you’re age 50 or older.
  • Earning withdrawals are tax-free at age 59 1/2 or for qualified reasons.
  • Contributions permitted after age 70 1/2.
  • Catch up contributions are available for individuals age 50 and over.
  • Consult your tax advisor.

Coverdell

 Coverdell Education Savings Account

A Coverdell Education Savings Accounts (ESA) is a trust or custodial account designed to help families pay for education. 

Now is the time to plan for the future.

  • Use for elementary, secondary, and post-secondary education.
  • Contribute $2,000 a year per child under the age of 18.
  • Earnings grow tax-deferred until withdrawn.
  • Funds can be transferred from one child’s account to an account for another child in the family.
  • Consult your tax advisor.

Certificates

 Select Your Certificate

Savings Certificates
Earn competitive market rates when you invest as little as $500. Available terms range from 6 months to 5 years.

Add-on Certificates
Open an Add-On Certificate with just $25! You can add-on more funds through payroll or automatic deposit, or at any time with as little as $10. This 6-month certificate has automatic renewal.

Freedom Certificate
Can’t commit? Then we’ve got the perfect certificate for you! Our Freedom Certificate is a special one-year, $20,000 minimum balance certificate with a 14-day notice, no penalty withdrawal option. Think of it as a certificate for the non-committal.

IRA Certificates
Available terms range from 1 to 5 years.

Federally Insured

 Federally Insured

Your savings are federally insured to at least $250,000 by the National Credit Union Administration (NCUA) a federal agency backed by the full faith and credit of the United States Government. For more information about how the NCUA insures your funds, view How Your Accounts are Federally Insured.

Ask an associate how your funds over $250,000 can be insured.

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