Investments

When saving for your future, sometimes you need more than a regular savings account. Fellowship Credit Union offers several investment options for you to choose from. Each item below comes with its own guidelines and rates. Please speak to a member service representative for details.

Money Fund Accounts

A Money Fund Account offers the flexibility of a savings account with a higher yield potential. Since a minimum investment must be maintained, this type of account is best used to save for long-term projects.

Individual Retirement Accounts

The future will be here before you know it, and you want to be prepared. Start your nest egg off right with a Fellowship Credit Union IRA.*

• Traditional IRA

A Traditional IRA is for those under age 70½ who have earned income. Earnings are tax-deferred until withdrawn and withdrawals must begin, and will be taxed, when you reach age 70½. Contributions may or may not be tax deductible, depending on your income.

• Roth IRA

A Roth IRA is funded with your after tax earnings. Your Roth contributions are not deductible, but all withdrawals are tax-free. There are no mandatory age requirements attached to a Roth IRA.

• Education IRA (EIRA)

This is a great way to help pay for a higher education. While EIRA contributions aren’t tax deductible, deposits and earnings may be withdrawn free of tax and penalties if used to pay for qualified education costs. An EIRA can also be used to pay for the qualified expenses of a kindergarten through 12th grade education in public, private, and/or religious schools.

*Always talk to your tax adviser to help you determine which IRA is right for you.

Certificates of Deposit

A Certificate of Deposit (CD) from Fellowship Credit Union is the perfect way to save money, earn steady interest, all during a specific time period. We offer CDs in 6- and 12-month terms. The longer the term, the larger the interest rate.

Once your certificate reaches its maturity date, we pay you your initial investment plus earned monthly interest. You are able to withdraw money before the maturity date, but you will incur a penalty.

To learn more about any of our investment opportunities, please stop by a Fellowship Credit Union branch to speak to a member service representative.