Regular Savings Accounts
Start saving money and earning interest with NCCU’s savings accounts. A $5 savings (“share”) account will allow you to become a member of our credit union, and you can keep on depositing if you like, to become financially stable, save for retirement, prepare for the holidays, or even set aside money for things like taxes or insurance. The amount over $5 may also be used to provide free overdraft protection, or used as collateral for loans, and is readily available to you as you need it. There are no monthly fees involved!
Account Features
- $5 minimum opening deposit
- A daily balance of $250 must be maintained IF you want to earn dividends on the account
- Make additional deposits if you like – in person, or automatically through Mobile Check Deposit, transfers, payroll deduction or direct deposit
- Having a $5 savings account is your key to obtaining other credit union services!
Standard Features
- Quarterly account statements – paper or electronic
- Immediate access to funds 24/7 through mobile app & home banking
- Funds can be used for overdraft protection for your NCCU checking account
- Federally insured for up to $250,000 through NCUA
Christmas & Other Special Savings Accounts
Plan ahead for the Christmas season with a Christmas Savings Account. Or, open an account (online or in person) to save for vacations, car insurance, or other budgeted items.
You can make deposits automatically thru payroll deduction or direct deposit, or in person, remotely with mobile check deposit, or by transfer using home banking or your mobile app.
When the holidays approach, or the insurance bill comes, or vacation time rolls around, your account balance is ready for you. Plus, you’ll have peace of mind because you’re prepared. Saving just $50 a month can give you $600 plus dividends at holiday time; deposits can be for any amount as often or as seldom as you like.
Dividends are calculated daily and paid quarterly on average daily balances over $250.
Money Market Accounts
Money market accounts offer many of the same services as checking accounts but earn interest similar to high-yield savings accounts.
There is a $2,500 minimum deposit required to open a Money Market Account and it’s possible to earn higher interest rates depending on the balance in your account!
With this type of interest account, you can write up to six (6) checks during any statement period without a fee. Rates can change at any time, and dividends are calculated daily/paid quarterly.
New Baby Accounts
Opening a savings account for your new baby has never been easier.
When you start a new savings account for him or her during the first year, NCCU will fund the $5 needed to open the account – our contribution to starting on the right path.
With a new baby account, parents can begin saving now for a bright future tomorrow!
Savings Account Rates
As of 6/30/2023
Savings and Club Account Rates
Share and Club Dividends:
0 – $249 No Dividends
$250 – $1,000 .75% APY
$1,001 and above 1.00% APY
APY (Annual Percentage Yield)
Rates subject to change.
Certain restrictions apply. Terms subject to change without notice.
Call today at (423) 547-1200 for more information.
Certificate Accounts
Northeast Community Credit Union has competitive rates of return on Certificate Accounts. Certificate accounts are excellent investments with great added benefit. All accounts are federally insured up to $250,000.
You have the opportunity to earn even higher dividends when you actively use our checking accounts or have certain loan products with us. You can add up to an additional .20% on top of our current rates. We value your relationship with us and reward you with better investment and loan rates through Loyal Rewards programs.
Certificate accounts offer higher interest than regular savings accounts and typically a more stable investment than the stock market. The savings certificates offer a guaranteed rate over a specific amount of time.
Certificate accounts require a minimum deposit and dividends are paid monthly into one of your designated accounts, or may be paid at maturity. Call any location now to lock in a great rate for your investment. With the variety of certificate account products offered, you are sure to find a term to fit your needs.
Nest Egg Certificate Account
Only $100 to open
12 month term
Deposits may be made in increments of $25 anytime during the term of the account
Simple Savings Certificate Account
Make regular deposits through payroll deduction or direct deposit on this 24 month certificate account. No minimum required to open. Simply start your regular payroll deposits and reach at least $1,000 by the end of the 2-year period. As a bonus for saving and building your Certificate Account, we will add an additional $50 to your account maturity. One Simple Savings Certificate Account per member, please.
6,12, 18, & 24 Month Certificate Accounts
Low $500 minimum balance
Dividends paid monthly or at maturity
12 Month Add-On Certificate Account
Minimum deposit of $500 to open
Deposits may be made any time in increments of $250
Dividends paid at maturity
20 Month Bump-Up Certificate Account
Minimum deposit of $500 to open
Dividends paid monthly
With the Bump-Up Certificate Account, you have the ability to up your interest rate one time during the 20 month term. If rates go up, you aren’t locked in to your original rate…just give us a call to make your request — we’ll change your account interest rate going forward to be the current rate at the time of your bump-up request!
Individual Retirement Accounts (IRAs)
IRAs are a safe and smart way to build wealth for the future while earning tax advantages today. Many financial and investment institutions require thousands of dollars in initial investment to open an IRA. At Northeast Community Credit Union, you can open an IRA with an initial investment of only $100. Also, you can choose the type of IRA that suits your investment needs the best: Traditional or Roth.
For details on the different types of IRAs, or to open one for yourself or your child, call any location. It’s your future–invest in it.
Traditional IRA
- A Traditional IRA offers tax-deferred earnings and possibly tax deductible contributions if you meet the requirements.
- If you and/or your spouse actively participate in an employer-sponsored retirement plan, you can deduct contributions only if your income is below certain limits.
- If neither you nor your spouse participates in a retirement plan, your traditional IRA is deductible.
- You can contribute if you earn compensation during the year and will not reach 70 ½ by the end of the year.
- When you withdraw from a traditional IRA your withdrawal generally will be treated as taxable income.
Roth IRA
- Contributions are not tax-deductible, however, you eventually can withdraw contributions and earnings from a Roth IRA tax-free.
- To contribute to a Roth IRA your modified adjusted gross income must meet income limits that change year to year.
- You can withdraw funds tax-free before retirement under certain conditions: if your funds have been in your account for at least five years and you’re older than 59 ½, you buy a first-time home, or if you become disabled.
- You’re not required to receive distributions during your lifetime. Your beneficiaries can then spread distributions out over their lifetimes.
NOTE: Speaking with a tax consultant is the best way to decide which IRA type is best for you and your family.
Certificate Account Penalty Information: If a certificate account is matured early, an amount equal to 90 days interest will be charged as a penalty on certificate accounts with terms of 12 months or less. An amount equal to 180 days interest will be charged as a penalty if the certificate account term is more than 12 months. No penalty for early withdrawal due to the death of account holder. A penalty may be waived for medical emergencies and hardships.
Certificate Account & Individual Retirement Account Rates
as of 3/19/2025
APY (Annual Percentage Yield)
| Dividend Rate & Annual Percentage Yield | |
|---|---|
| 6 Month Certificate Account ($500 minimum to open)
6 Month Certificate Account with Rewards
| 2.00%
2.20% |
| 12 Month Certificate Account ($500 minimum to open)
12 Month Certificate Account with Rewards | 2.80%
3.00% |
| 18 Month Certificate Account ($500 minimum to open)
18 Month Certificate Account with Rewards | 2.90%
3.10% |
| 24 Month Certificate Account ($500 minimum to open)
24 Month Certificate Account with Rewards | 3.05%
3.25% |
| 12 Month Nest Egg Certificate Account ($100 minimum to open)
Now, everyone can have a certificate account! A low minimum balance of $100 will open this certificate. Deposits in increments of $25 are permitted during the term of the account. This is a great way to save for your children or grandchildren. Reward add-ons do not apply. | 2.80% |
| 12 Month Add-On Certificate Account ($500 minimum to open)
You can add to this Certificate Account in increments of $250 or more anytime during the term of the certificate. Reward add-ons do not apply. | 2.80% |
| 20 Month Bump-Up Certificate Account ($500 minimum to open) No need to worry about rates going up and being locked into a lower rate. You have the option of “bumping up” to the current interest rate one time during the term of the account. Deposits are permitted in increments of $500. Reward add-ons do not apply. | 3.25% |
| 24 Simple Savings Certificate Account ($1.00 to open) An amazing savings plan to create an emergency fund. We can set a designated amount to come out of your payroll and go into your Simple Savings Certificate Account. A very easy way to save! Reward add-ons do not apply. | 3.05% |
| IRA Accumulation Account – ($100 to open) Variable Rate Quarterly Dividends. Reward add-ons do not apply. | 4.09% |
| 24 Month IRA – Fixed Rate ($500 to open)
Reward add-ons do not apply. | 3.05% |
APY refers to annual percentage yield and is subject to change at the discretion of Northeast Community Credit Union. APY assumes dividends will remain on deposit until maturity. APY is an annual calculation based on 365 days (366 days in a leap year). A penalty will be imposed for early withdrawal. Fees or withdrawals may reduce earnings. APY can change after account opening for variable rate accounts. The APY shown for all non-term share accounts is accurate as of the last dividend declaration date.