Savings at Express

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Share/Savings Account

Become a member of Express Credit Union by opening a Share/ Savings Account. It’s a safe and secure account that earns dividends (interest) on your entire balance.

  • Minimum $5.00 deposit to open your share/savings account and become an Express Credit Union member
  • $5.00 minimum stays in your account at all times as your membership ‘share’ in the credit union
  • No account maintenance fees, ever
  • Earn dividends, paid quarterly to all credit union members as authorized by the board of directors

‡Deposit Account Information, Terms and Conditions

No Dividend (Interest) Share/Savings Account

Enjoy the same features as our regular share/savings account without the dividends!

  • If you desire an account that does not pay interest – this is a great option for you
  • You can still save your money safely as an Express CU member with this special non-interest savings account
  • Be sure to ask your service representative about this option to meet your needs

Holiday Club Share/Savings Account

This account helps you save money for holiday gifts or other special purchases! Make regularly scheduled and special deposits during the year until you need the funds – AND you’ll earn a higher dividend rate than your regular savings.

  • Minimum $10 to open, minimum $10 balance
  • No monthly maintenance fees
  • Ask a service representative about setting up automatic deposit transfers from another Express CU account
  • Fees may apply for early withdrawals
  • Holiday Club accounts close annually in October, reopened upon request for the next year

Express Kids Club

Qualified adults, including parents or guardians, can open an Express Kids Club account for children under the age of 18.

  • Kids are never too young to learn good saving habits!
  • Earns the same interest rate as our regular share savings account
  • Ask today about setting up Express Kids Club accounts for the young ones in your life.

Single Deposit CD

Earn a higher rate of interest than on your regular savings account by opening a Certificate of Deposit with Express. CDs are an effective savings option for building financial security.

  • An Express CD allows you to place funds that your don’t immediately need into an NCUA insured account*.
  • Open a CD account with $1,000 or more and choose how long you want your money to remain in the account – up to 36 months. The longer the term, the higher the rate of interest you earn.
  • Interest rate stays fixed until the deposit matures – guaranteeing your interest even if market interest rates go down in the future
  • An interest forfeiture penalty is assessed if you withdraw your money prior to CD maturity.‡‡

*NCUA deposit insurance

Add To CD

With as little as $100 you can enjoy higher guaranteed interest rates. This special CD allows you to add money whenever you’d like throughout the term! Up to $1200!

  • Open an Add To CD with $100 or more
  • Your interest rate is guaranteed until the deposit matures – even if market rates go down in the future
  • Select a 12 or 24 month term – the longer the term, the higher rate of interest you earn
  • Set up regular automatic transfers to this account to help you reach your savings goals
  • An interest forfeiture penalty is assessed if you withdraw your money prior to CD maturity‡‡

Individual Retirement Accounts (IRA)

An Individual Retirement Account (IRA) is an investment account that helps you save money while you work to cover expenses when you retire. If you’re under 50, you can contribute up to $5,000 every year. If you’re 50 and over, you can contribute up to $6,000 every year. You may be able to exclude your contributions from taxable income on your tax return depending on your marital status, income and whether or not you or your spouse participates in an employer-sponsored retirement plan. This means that you would not pay taxes on the money until you withdraw it from you IRA. The tax deductable IRA contribution limit is indexed for inflation and may increase in future years.

Express Credit Union does not provide tax guidance concerning a member’s individual circumstances. We can provide our members with general information about the IRA options at Express CU, but you should consult your tax advisor for assistance if you have questions about tax planning and IRAs.

Express Credit Union offers several choice of Savings or CDs for IRAs. In addition to IRS requirements applicable to IRAs, all standard share account terms and conditions apply.‡‡

Traditional IRA

For a traditional IRA, the money you put into the account and the interest you earn may be tax-deferred, depending on your income and other factors. Mandatory distributions are required at age 70 1/2. You may be eligible to defer paying taxes on money you contribute to your IRA account until you withdraw funds for your retirement.

Roth IRA

With a Roth IRA, the money you contribute to your account is not tax-deductable, but the interest you earn is tax deferred. Roth IRAs have fewer restrictions than traditional IRAs concerning how and when money can be withdrawn. Unlike traditional IRAs, no minimum distribution is required when you turn 70 1/2. Speak with an Express service representative to learn more.

Educational IRA

An Educational IRA is an investment account that helps you save for your children’s education. As a parent or guardian, you can make contributions for a child under 18. Money contributed to the account is not tax-deductible, but the earnings on the account are deductable when used for qualified educational expenses. Come see us at Express if you are interested in opening an Educational IRA.

‡Deposit Account Information, Terms and Conditions

‡‡CD Account Information, Terms and Conditions