Savings, CDs & IRAs
Do you have questions about what's the best saving account options are for you?
Alden Credit Union understands that everyone’s financial needs are different; therefore, we offer unique savings account options for all of our members. Whether you are in need of immediate savings, retirement savings, or even a vacation savings, we have an option that matches your individual needs. We also offer free financial services. Our knowledgeable bankers will help you determine which saving option best meets your needs and financial goals.
Statement Savings Accounts
- Earns interest
- No maintenance fee
| Account Type | APY | Current Rate |
|---|---|---|
| Statement Savings | 0.05% | 0.05% |
| IRA Savings | 0.05% | 0.05% |
| Christmas Club | 0.05% | 0.05% |
Rate Information - The interest rate and annual percentage yield may change at any time.
Compounding and crediting - Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is paid, you will not receive the accrued interest.
Minimum balance requirements: The minimum balance required to open this account is $25.00. You must maintain a minimum daily balance of $25.00 in your account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Transaction limitations: During any statement cycle, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized, automatic, or computer transfer, telephonic order or instruction, or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
NOTE: All rates are subject to change without notice. The Annual Percentage Yield (APY) assumes principal and interest will be reinvested at a rate equal to the current rate. Fees may reduce earnings.
Money Market Accounts
Our Money Market account offers a convenient way to save and build for the future.
- Earn higher dividends than regular savings
- With tiered rates the more you save, the more you earn
- You can open with just $1,000
- Dividends are earned on the average daily balance, and credited and compounded monthly
| Balance | APY | Current Rate |
|---|---|---|
| $1.00 - $4,999.99 | 0.10% | 0.10% |
| $5,000.00 - $19,999.99 | 0.15% | 0.15% |
| $20,000.00 - $49,999.99 | 0.25% | 0.25% |
| $50,000.00 - $99,999.99 | 0.35% | 0.35% |
| $100,000.00 and over | 0.45% | 0.45% |
Minimum balance requirements: The minimum balance required to open this account is $1,000.00.
You must maintain a minimum daily balance of $1,000.00 in your account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Transaction limitations: During any statement cycle, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized, automatic, or computer transfer, telephonic order or instruction, or by check, draft, debit card, or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
NOTE: All rates are subject to change without notice. The Annual Percentage Yield (APY) assumes principal and interest will be reinvested at a rate equal to the current rate. Fees may reduce earnings.
Certificate of Deposit (CD) Accounts
A CD is a wise choice for depositors who don’t need immediate access to savings. It is a convenient way to start investing in your future.
- Competitive Rates
- Set your own maturity date anywhere from 6 months to 5 years
- Minimum investment of $1,000 investment*
*A penalty may be imposed for early withdrawal.
| Term | APY | Current Rate |
|---|---|---|
| 5 Month Certificate SPECIAL | 4.25% | 4.17% |
| 6 Month Certificate | 0.45% | 0.45% |
| 10 Month Certificate SPECIAL | 4.00% | 3.93% |
| 1 Year Certificate | 0.80% | 0.80% |
| 18 Month Certificate | 0.65% | 0.65% |
| 36 Month Certificate | 0.80% | 0.80% |
| 5 Year Certificate | 1.16% | 1.15% |
$1,000.00 minimum deposit for a Term Share Certificate
NOTE: All rates are subject to change without notice. The Annual Percentage Yield (APY) assumes principal and interest will be reinvested at a rate equal to the current rate. This account is subject to early withdrawal penalties.
IRA
Saving for retirement may seem complicated and difficult, but when you’re a member, it doesn’t have to be. To achieve your retirement lifestyle goals, you should start saving now. And our IRA options make it simple — no matter what your income level and budget may be.
| Term | APY | Current Rate |
|---|---|---|
| 5 Month Certificate SPECIAL | 4.25% | 4.17% |
| 6 Month Certificate | 0.45% | 0.45% |
| 10 Month Certificate SPECIAL | 4.00% | 3.93% |
| 1 Year Certificate | 0.80% | 0.80% |
| 18 Month Certificate | 0.65% | 0.65% |
| 36 Month Certificate | 0.80% | 0.80% |
| 5 Year Certificate | 1.16% | 1.15% |
$1,000.00 minimum deposit for a IRA Term Share Certificate
NOTE: All rates are subject to change without notice. The Annual Percentage Yield (APY) assumes principal and interest will be reinvested at a rate equal to the current rate. This account is subject to early withdrawal penalties.
Christmas Club Account
Our Christmas club account provides you with a simple savings program that help you save for holiday shopping or a vacation.
- $1 is all you need to get started
- Deposits can be made from of $1 to $190 a week
- Funds are deposited directly into your Alden account of choice (checking or savings)
Minimum balance requirements: The minimum balance required to open this account is $1.00. You must maintain a minimum daily balance of $10.00 in your account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Transaction limitations: The maximum deposit we allow is $10,000.00 per year. The minimum deposit we allow is $1.00 per deposit. The funds in this account will be transferred to another account you designate, each year on the club maturity date.