A Share Account Opens the Door to Membership in Community Regional Credit Union
To become a member at Community Regional Credit Union, you have to open a regular share savings account with a minimum deposit of $5.00; this is your share of ownership in the credit union. This is why your savings is called “shares”.
Community Regional offers many benefits of membership, including loans other accounts, and services as long as you maintain the $5.00 minimum in your share account.
Your combined accounts are insured up to $250,000.00 by the NCUSIF, (National Credit Union Share Insurance Fund) an agency of the federal government. It is a federal insured program governed by NCUA (National Credit Union Administration).
To Open Your Account Today
Come into the credit union or you can download the Membership Application below and bring the completed application with you.
Members who deposit $50,000.00 or more into their share account will receive the following benefits;
- Free Box of Checks
- Free Debit Card
- Free Safety Deposit Box
- Free Credit Report
- 0.50% off Share Secured Loan
- 2 Free Ticket to the Annual Meeting
Members whose balances are between $10,000.00 and $50,000.00 in their share account will receive the following benefits;
- Free Box of Checks
- Free Debit Card
- Free Credit Report
- .25% off Share Secured Loan
Share Draft Accounts Will save you Money
Are you paying high fees and service charges on your checking account at other financial institutions? Community Regional Credit Union has the solution to eliminate the high cost of checking accounts. We offer:
- No Per Check Charges
- No Monthly Fees
- No Minimum Balance
- Free Check Printing Options
- Free VISA Check/ ATM Card Option
- Free Online Account Access
- Free Direct Deposit/Payroll Deduction Options
- Free E-statements
- Free Easy to Read Monthly Statements
- Automatic Overdraft protection
To open Your Account Today
Come in to the credit union or you can download the Share Draft Application below and bring the completed application with you.
A Christmas or Vacation Club Accounts is the best way to save for those special occasions. Club accounts help guarantee you’ll have money available when you need it.
Christmas Club Accounts can be opened any time of the year. There is no minimum to open. You can make deposits in person, with payroll deduction, or direct deposit. Withdrawal can be made at anytime. On October 1st your Christmas club money will be transfer directly into your share savings account or share draft account.
Vacation Club Accounts can be opened any time of the year. There is no minimum to open. You can make deposits in person, with payroll deduction, or direct deposit. Withdrawal can be made at anytime.
Community Regional Share Certificate Program is a perfect risk free investment. Share Certificates are a safe and secure investment. If you are looking to diversify your stock portfolio, want to save for your children’s education or for your retirement, Share Certificates are the way to go.
Community Regional offers a $5,000.00 share certificate for a one year term.
Individual Retirement Accounts (IRA’s)
With Social Security and Pensions not being enough income these days, Individual Retirement Accounts (IRA’s) are the answer. Community Regional offer three types of IRA’s
With a traditional IRA, your contributions may be tax-deductible and you can grow your savings tax-deferred until you retire. When you do retire, the contributions you take are taxed based on your current income level.
You must be under age 70 ½ to be eligible for a Traditional IRA.
Non-working spouses can make fully deductible contributions to an IRA, even if their spouse participates in a retirement program, as long as their joint income does not exceed $150,000.
You can contribute up to $5,000 each year or $6,000 if you are age 50 or older.
Before age 59 ½, you may be able to withdraw money without a penalty to purchase a first home (up to $10,000 maximum) or pay qualified costs of higher education.
You can’t make contributions after the age of 70 ½.
The major advantages of a Roth IRA are that you pay taxes on your yearly contributions, but your account earnings and future withdrawals are tax free, plus you can continue to make contributions after age 70 ½ if you are employed.
- Penalty free withdrawals after 5 years
- Tax free earnings after age 59 ½
- Contributions allowed after age 70 ½ when employed
- No required distribution at age 70 ½ or in your lifetime
- Tax-free if used for first home purchase (up to $10,000) or higher education
- Tax-free if disabled or upon death
Coverdell Educational Account
Contributions can be made to a Coverdell Educational Account until December 31st of the tax year. Parents, grandparents, other relatives, friends, and even minors (with earned income) can set up an account for a designated beneficiary under age 18. You can make nondeductible contributions of up to $2,000 per child each tax year. The accumulation of interest and withdrawals are tax-free as long as the funds are used for financing education expenses.
If the beneficiary is not going to use the money for educational expenses, the money must be withdrawn by age 30. The Coverdell Education Account can be rolled over into another child’s account in the same family. The contributions to this account do not count toward your taxpayer Traditional or Roth IRA contributions.
Start Saving Today…
For each IRA, there are income caps and other limitations that apply. Don’t miss this opportunity to IRA your way to a secure retirement and help pay for an education. For more information, contact the credit union or your tax advisor.
All credit union deposit accounts, including retirement accounts are insured by the NCUSIF* for up to $250,000. There are also steps you can take to have higher account balances that are also insured. We can show you how. Call or stop by the credit union.