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Share/Savings

Help Build A Solid Financial Base
Deposits form the foundation of American Lake Credit Union. As our deposit base grows, so does the strength of the Credit Union. Every deposit you make helps maintain high-quality, low-cost services for all Credit Union members to enjoy. Protecting your deposit is very important to us, that why they are insured to $250,000 regardless of which account(s) you choose. The first $250,000 of deposit, per owner, is insured by the National Credit Union Share Insurance Fund. Deposits over $250,000 are insured for an additional $250,000, by the Excess Share Insurance Company.

Regular Shares
To become a member of the Credit Union you need only deposit and maintain  a minimum of $5 into your American Lake Credit Union base share account.  These share accounts earn dividends on a monthly basis.  Members can have as many share accounts as they need.  Because our share accounts are a savings account, withdrawals are limited to six per month including transfers.

Certificates
Certificates are a safe, easy way to save for the future - both short and long term, but do not allow for withdrawals (without penalties) before the maturity date which can range from a few months to several years. Basic requirements for a certificate are:

  • Minimum balance $500
  • Terms from 3 months to 5 years
  • Dividend rates vary and are subject to change

Before you invest elsewhere, call for our most current rates. Ask about premium rates for larger balances.

Holiday & Planned Savings Accounts
The Planned Savings Account is a great way to save for any special occasion or event. You choose your monthly deposit and account goal. We will pay you a preferred dividend rate to encourage you to save. Once you reach your goal, we'll transfer your total (including dividends) to whatever savings or checking account you choose or issue a check to you. The Holiday Savings Account allows you to make regular deposits so when the holidays come around you have the cash you need plus dividends - without payments or interest on your credit card.

As an added incentive to achieve your goal, you will be charged $5.00 each time you make a withdrawal prior to reaching your account goal.

Individual Retirement Accounts (IRA's) & IRA Certificates
We offer a variety of IRAs, including the new Roth IRA, Education IRA and Coverdell IRA. Some of the common benefits of our IRA programs are:

  • Low Annual Fee
  • Earnings are tax-deferred
  • Choice of IRA shares and IRA certificates
     

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency.
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