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Share Savings

At banks, a savings account is a safe place to keep your cash. But at UECU, a savings account serves as your share of ownership in your own local, not-for-profit credit union. We're proud to be an exclusive club for education providers throughout Minnesota and their families.

  • Savings account that pays competitive dividends on entire balance
  • Your share of ownership in UECU
  • No monthly service charge
  • No minimum balance requirement
  • Low $5 minimum share deposit to open
 


Join today and start earning competitive dividends, too, so you can grow your balance quickly. Whether you're saving for something special or just need a safety net, your share savings account is the first step toward financial independence.

 
 

 

 

 
Parents, your kids can earn incentives for good grades!
Incentives are paid $1 for each "A" or equivalent in the subjects of Math, English/Reading/Language Arts/Writing, Science, Social Studies, Music/Art, and Physical Education. Up to $6 per report card.*

*May be subject to IRS Reporting

Youth Savings

Having a financially literate community is our passion, and we believe smart money management begins early. Give your child a head start with a youth savings account. The account is built around the principles of Save. Share. Spend.

Designed for younger members, this account is easy to open and even easier to maintain. With online and mobile banking, your young saver will learn how to manage their account — no matter where they are!

  • Savings account designed for young members age 17 and under
  • Competitive dividends on entire balance
  • No monthly service charge
  • No minimum balance requirement
  • Establishes the importance of saving and know-how of saving money from an early age
  • Grade Incentive Program
  • Low $5 minimum share deposit to open

 

"You Name It" Savings

Even when we're dedicated to our savings goals, life has a habit of throwing us unexpected expenses. Keep your savings on track with a secondary savings account dedicated to your specific goal. So you can fund whatever it is you need — you name it.

Set aside money for the holidays, a dream vacation, your upcoming wedding, and more. Earn competitive rates to grow your balance quickly, and reach your goal that much faster.

Secondary savings for a specific purpose, including:

  • Holidays, weddings, vacations...and more!
  • Competitive dividends on entire balance
  • No monthly service charge
  • No minimum balance requirement
  • $5 minimum deposit to open

 

 

We make it easy to manage your account. With free services like online banking and mobile banking, you don't have to visit the credit union to make a transaction. Manage your money whenever and wherever it's most convenient for you.

VIP Savings

Jump at the chance to earn really high variable dividends, and watch your savings add up! This account pays competitive yields, and higher balances earn higher rates.
  • Competitive, tiered rates
  • Higher balances earn higher rates
  • Enjoy flexibility with enhanced access to funds, including:
    - Unlimited in-person withdrawals or by mail
    - 6 free transactions per month by pre-authorized, automatic, telephone, online or similar order
  • No monthly service charge
  • No minimum balance requirement
  • $2,500 minimum deposit to open
 

 

Individual Retirement Account (IRA)

If you've made your bucket list, it's time to think about how you will fund it. An IRA offers certain tax advantages* while you save — so you can ensure your golden years truly are golden.

We offer different plans for different financial situations, including Roth, traditional, and SEP for businesses. Talk to a UECU representative about which plan is the right fit for you.

  • Tax-advantaged savings for retirement*
  • Earn competitive dividends
  • Annual contribution limits apply
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Traditional, Roth, and SEP available
  • Share Insurance up to at least $500,000
  • $500 minimum deposit to open
*Consult a tax advisor.

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70 ½

Roth IRA

  • Income limits to be eligible to open Roth IRA***
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59 ½
  • Early withdrawals on interest subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income
*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor.

 

Coverdell Education Savings

Although you can't put a price on education, a fund for school is the next best thing. A Coverdell Education Savings Account (ESA) provides a tax-free* way to save for your child's college expenses.

Anyone may contribute to the ESA — so grandparents, aunts, and uncles can even help send your child to their dream university. Start saving for your child's education today with the help of UECU.

  • Earn interest that grows, tax-free*
  • Withdrawals are tax-free* when used toward qualified education expenses
  • Annual contribution limits per child
  • Contributions can be made until the child is 18
  • Mandatory distribution by age 30
  • Share Insurance up to at least $500,000
  • $5 minimum deposit to open
*Consult your tax advisor.
 

 

Share Certificate of Deposit (CD)

Few things in life are guaranteed — so when the chance to make a sure return pops up, a smart investor takes it.

Share certificates offer fixed rates throughout your term, so you can plan accordingly. Simply choose your term, then lock in your rate. It's a great way to meet short-term financial goals and build up your investment portfolio.

  • Fixed rates, higher than regular savings
  • Receive higher rates by selecting a longer term
  • Provides more guarantee than other risky investments
  • Set aside for future savings goals
  • A wide range of terms available
  • No setup or maintenance fees
  • Early withdrawals subject to penalty*

The certificates we offer include:

Flex Certificates

  • $500 minimum deposit to open
  • You may request a rate change one time during the life of the certificate.
 

Earn more on your money!
Earn 2.52% APY with our 60-month term!

**Annual Percentage Yield (APY) in effect 7/11/2019 and subject to change at any time.

*Members have a grace period of seven (7) days after maturity in which to deposit to a certificate or to withdraw funds in the account without being charged an early withdrawal penalty. Early withdrawal penalty is assessed on the funds withdrawn before maturity. Penalty determined by term of certificate.
 

 


Eligibility

Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please contact your tax advisor for further eligibility requirements.

*Consult a tax advisor.
**You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.

Health Savings Account (HSA)

Wouldn't it be great to pay your medical expenses with tax-free money*? Now you can — with an easily managed HSA.

You own the account, not your employer, so it's yours to roll over year-to-year. You can access your funds at any time, whether it's weeks or years from now. Make your health a priority, and start setting aside money today in your HSA.
  • Greater personal control over healthcare management and expenses
  • Prepare for qualified medical expenses
  • Earn interest above standard savings on entire balance
  • An HSA provides triple tax savings:
    - Tax deductions when you contribute to your account
    - Tax-free earnings through investment
    - Tax-free withdrawals for qualified medical, dental, vision expenses, and more*
  • Contributions are tax-free and can be made by you, your employer, or a third party
  • Funds can be withdrawn at any time**
  • No monthly service fee
  • No minimum balance requirements
  • Unused funds remain in account year after year; no "use it or lose it" policy
  • Keep your HSA in your name, regardless of career or life changes
  • $25 minimum deposit to open
 

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