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Share Certificates
Searching for a relatively low-risk investment that can easily be converted into cash? Look no further - Rockland Emplyees Federal Credit Union can offer you a Share Certificate at competitive rates that are typically higher than banks or other financial institutions. Earning more on your money is yet another benefit of being a Rockland Employees FCU member.
CDs are a special type of deposit account that typically offers a higher rate of interest than a regular share account.
Here is how a CD works:
When you purchase a CD, you invest a fixed sum of money for a fixed period of time. In exchange for your deposit, REFCU will credit interest to your CD account at regular intervals. When you cash in or redeem your CD, your original investment, plus the interest accrued, gets paid back to you. (If you redeem your CD before it matures, you will have to pay an "early withdrawal" penalty and forfeit a portion of the interest you earned).
Federal Insurance
The National Credit Union Administration (NCUA), an agency of the U.S. Government, federally insures your accounts to $250,000, with Individual Retirement Accounts separately insured up to $250,000. For additional information on how all of your accounts are federally insured, visit MyCreditUnion.gov to learn about NCUA share insurance coverage
For additional information or to open your Share Savings Account, call or stop by any of our conveniently located branch locations today.
Individual Retirement Accounts
Designed to meet short- and long-term savings needs, these high-yield, fixed term investments are a safe, insured way to invest for the future. Share certificates can also be used to secure a loan at considerably lower rates (IRAs not eligible). Share certificates are offered in flexible terms.
IRAs – Individual Retirement Accounts
IRAs are designed to meet members' long-term retirement savings needs. Your credit union offers a variety of Individual Retirement Accounts, including Traditional, Roth and Education IRAs, which may provide you with additional tax benefits.
Choose from a variable IRA with $25 minimum or an IRA Certificate with a $1,000 minimum balance and flexible terms.
Traditional IRA
Invest with pre-tax dollars and let your investment grow tax- deferred until retirement.
Roth IRA
Iinvest your after-tax dollars today, let the investment grow tax-deferred, and withdraw your principal and earnings tax-free with a qualified distribution
Coverdell Education Savings Account
Formerly called an Education IRA, this investment tool allows you to save for the future cost of a child’s post-secondary education. For more information about IRAs please call us at 1-877-922-2822.
Federal Insurance
The National Credit Union Administration (NCUA), an agency of the U.S. Government, federally insures your accounts to $250,000, with Individual Retirement Accounts separately insured up to $250,000. For additional information on how all of your accounts are federally insured, visit MyCreditUnion.gov to learn about NCUA share insurance coverage
For additional information or to open your Share Savings Account, call or stop by any of our conveniently located branch locations today.
Savings Clubs
Holiday/Christmas Club
This special Savings Account is a convenient way to prepare for that important and expensive time of year. The account pays the same rate as the regular Savings Account.
Contribute to your Christmas Savings throughout the year with automatic transfers, payroll deduction, mail or over-the-counter transactions. Holiday-Christmas Club disbursement is transferred to member’s primary account on October 31st.
Vacation Club
The Vacation Club combines the convenience of an automatic savings plan, like our Christmas club, with the flexibility of saving for something special during any time of the year.
You can open a Vacation Club account with as little as $5. Dividends are paid quarterly on daily balances of $100 or more. Four withdrawals are allowed per year. Vacation Club disbursement will be transferred to members’ primary account on May 31st.
Education Club
The Education Club combines the convenience of an automatic education savings plan, just like all of our other clubs.
It gives you the flexibility to save for your child’s education. Dividends are paid quarterly on balance of $100 or more. Four withdrawals are allowed per year.
Minor Accounts
From their first set of training wheels to their first car, we are committed to help our younger members to learn to manage their money as they grow into responsible young adults.
Our minor accounts earn competitive dividends and provide exciting incentive for children and young adults 17 years old or younger. Parents with payroll deduction can deposit directly into any youth account.
Minor accounts can be opened with just $5.00. It’s a great way to begin saving!
Federal Insurance
The National Credit Union Administration (NCUA), an agency of the U.S. Government, federally insures your accounts to $250,000, with Individual Retirement Accounts separately insured up to $250,000. For additional information on how all of your accounts are federally insured, visit MyCreditUnion.gov to learn about NCUA share insurance coverage
For additional information or to open your Share Savings Account, call or stop by any of our conveniently located branch locations today.
Share Draft (Checking Account)
Qualifying Requirements
- Eligibility for membership in the credit union
- No minimum balance
Benefits
- Monthly statements with a checking account and/or EFT transactions; otherwise quarterly
- Access account information and transaction transfer by Audio Response System and online banking
- Transactions may be made conveniently via payroll deduction, direct deposit, in person, mail, and ATM
- Can be used as collateral for a loan
- Free transfers to and from other accounts
Federal Insurance
The National Credit Union Administration (NCUA), an agency of the U.S. Government, federally insures your accounts to $250,000, with Individual Retirement Accounts separately insured up to $250,000. For additional information on how all of your accounts are federally insured, visit MyCreditUnion.gov to learn about NCUA share insurance coverage
For additional information or to open your Share Savings Account, call or stop by any of our conveniently located branch locations today.
Share Accounts
A Share Savings Account with a minimum of $25 begins your savings program and establishes your credit union membership.
Qualifying Requirements
- Eligibility for membership in the credit union
- $25 deposit (individual account)
$50 (joint account) into your new savings account.
Benefits
- $2 Monthly Service Charge (effective, June 30th)
- Competitive dividends on balance of $100.00 or more
- Monthly statements with a checking account and/or EFT transactions; otherwise quarterly
- Access account information and transaction transfer by Audio Response System and online banking
- Transactions may be made conveniently via payroll deduction, direct deposit, in person, mail, and ATM
- Can be used as collateral for a loan
- Free transfers to and from other accounts
Federal Insurance
The National Credit Union Administration (NCUA), an agency of the U.S. Government, federally insures your accounts to $250,000, with Individual Retirement Accounts separately insured up to $250,000. For additional information on how all of your accounts are federally insured, visit MyCreditUnion.gov to learn about NCUA share insurance coverage
For additional information or to open your Share Savings Account, call or stop by any of our conveniently located branch locations today.