Regular Share / Savings Account
Your first basic account with the Credit Union is called a Share Savings account. Opening this account will generate your member number and you will become an official member of Wexford Community Credit Union. You are then eligible to enjoy all of the services we offer. A $5.00 share deposit must be made and will remain in the regular Savings for as long as you are a member with us. The suffix for this account is “000”.
The minimum balance required to earn interest on your savings account is $100.00. Interest is paid quarterly.
Dividend Rate: .10% APY
As set by the Board of Directors, 5-1-2014, interest paid quarterly.
There are many subaccounts that you may choose to add to your membership. The most often chosen is the Checking subaccount, but there are many more and are described below.
Share Draft / Checking Account
Our Share Draft, or Checking, account is an excellent value to our members. The suffix for this account is “008”. With your checking account you may enjoy the following benefits:
- No monthly fees!
- No monthly check writing limit!
- An initial minimum deposit of $100 is required in order to order checks.
- Overdraft protection – funds are automatically transferred from your Savings account to cover your check for a low fee of $5.00.
- Courtesy pay overdraft protection for those who qualify … ask our Member Services Representatives for details.
- Overdraft protection loans are available to qualifying members
- ATM or Debit cards available for those who qualify with no fees.
Youth Savings Account
It’s never too early to begin teaching your children and grandchildren the importance of saving and handling money. Wexford Community Credit Union offers a Youth Savings account, which is also known as our 17 & Under account. This is a “001” sub-account. We do require that a parent, grandparent or legal guardian be on the account with the youth. When the youth turns eighteen, the account automatically becomes a regular share savings account.
No minimum balance to earn interest.
Dividend Rate: .10% APY, as set by the Board of Directors, 5-1-2014, interest paid quarterly.
Cadillac, Mitchell, and Other Savings Accounts
We offer several Saving Subaccounts. The minimum balance to earn interest is $100.00. Interest is paid quarterly. Your teller will assist you in opening and nicknaming these accounts.
Dividend Rate: .10%APY , as set by the Board of Directors, 5-1-2014, interest paid quarterly.
Christmas Club Share Account
Our Christmas Club Share Account, suffix 009, allows you to save ahead for Christmas while you earn interest on your savings. You may choose to have a portion of your payroll directly deposited into the account or you can make deposits by mail, in person, or through automatic monthly transfer from another sub-account. This account may be opened at any time and deposits are accepted at any time; however interest is paid annually on the annual average. As of June 1, 2010, there is a $5,000 maximum for deposits. Interest is paid on October 31 and the funds will be transferred automatically to your regular savings on November 1 of each year. You may access your funds at any time throughout the year, but as of October 1, 2002, there is a $5.00 service fee for each early withdrawal from your Christmas Club account.
Interest Rate: 0.10%APY, as set by the Board of Directors, as of 11/1/2013
Individual Retirement Accounts (IRA) will help you save for your future. When you set up a Wexford Community Credit Union IRA account you enjoy important tax advantages now and will supplement your pension and Social Security benefits when you retire. We offer the following types of IRA Accounts.
IRA Savings Account
Just starting an IRA and don’t have a large amount of money available to purchase an IRA Share Certificate of Deposit? You can have payroll direct deposit into this account weekly or bi-weekly, so the deposits are made automatically or automatic monthly transfer from another sub account. And your IRA can grow, until you have enough available to purchase an IRA Share Certificate of Deposit.
IRA Certificate of Deposit
The dividend rate and annual percentage yield (APY) on these variable rate accounts may change every quarter as determined by our Board of Directors.
- Any fees accessed may reduce the accrued dividends earned.
- Our IRA Certificates of Deposit offer higher savings interest rates for your investments.
- Available as a 12 month IRA CD
- Minimum deposit of $500.00
- Interest will compound quarterly.
- For information on how each type of account would benefit your specific situation, talk to your tax adviser. When you are ready to contribute to an IRA, please contact Wexford Community Credit Union. We are here to help you save for your future.
Choose from Traditional IRAs, Roth and Educational IRAs. There is no minimum balance to open this account but you do have to be a member of Wexford Community Credit Union, which means you have a Regular Share (Savings) Account. Although there is no minimum balance to open there may be a minimum balance to earn interest.
Share Certificates at WCCU offer a safe and secure way to save money at a competitive rate of return. Share Certificates are available in a variety of terms ranging from 6 months to 48 months.
Minimum deposit of $500.00.
Interest will be paid quarterly, interest can be credited to a sub-account. Members age 62 and over can have interest credited quarterly or monthly to a sub-account.
Early withdrawal – interest will be paid on the account only at the rate of 1%APY less per annum instead of the original contemplated interest rate.
If Certificate is not presented for payment on its initial or any subsequent renewal maturity date, it will automatically be renewed from its last maturity date. The interest to be paid upon renewal shall be given to the owner(s) no later than 2 days after maturity.
Unless you transfer or withdrawal the funds within 10 days after maturity, your Share Certificate of Deposit will automatically renew for an additional term.
Rates and annual percentage yield are determined each Tuesday afternoon.
- Interest will be paid quarterly, interest can be credited to a sub-account. Members age 62 and over can have interest credited quarterly or monthly to a sub-account.
- Early withdrawal – interest will be paid on the account only at the rate of 1%APY less per annum instead of the original contemplated interest rate.
- If Certificate is not presented for payment on it’s initial or any subsequent renewal maturity date, it will automatically be renewed from it’s last maturity date. The interest to be paid upon renewal shall be given to the owner(s) no later than 2 days after maturity.
- Unless you transfer or withdrawal the funds within 10 days after maturity, your Share Certificate of Deposit will automatically renew for an additional term.
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Deposit Insurance Information
Your money is safe and secure at Wexford Community Credit Union, a strong, stable financial institution that has been serving the financial needs of its members since 1953. All accounts are insured up to $250,000.00 by the National Credit Union Administration (NCUA), an agency of the United States Government.
Your savings is federally insured up to $250,000.00. National Credit Union Administration, a U.S. Government Agency