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CDs & IRAs
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Share Insurance
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Share Certificate Accounts
SCs under one year - $500 min.
SCs one year and over - $500 min.
SCs two years and over - $500 min.
IRA SCs - annual contribution
After the account is opened, you may not make additions into
the account until the maturity date stated on the account. You
may make withdrawals of principle from your Share Certificate
Account prior to maturity, but the withdrawals are subject to
early withdrawal penalties.
Dividend penalties for early withdrawal based on qualifying period.
Up to 1 year - 90 days
Over 1 year - 180 days
IRA withdrawals before 59½ are subject to certain IRS penalties.
SEE our
rates.
Health Savings Accounts:
In general:
- Health Savings Accounts are not limited to the amount of the
deductible on high-deductible health plans (HDHPs).
- Participants must be eligible on the first day of
each month they are in the plan.
- For 2007, the annual contribution limit for single
coverage is $2,850, while the annual limit for family coverage
is $5,650. The limits for 2008 are $2,900 for single and $5,800
for family. (Limits are subject to change. For the latest information,
please go to IRS.gov.)
- HSA contributions are tax-free and earnings/interest
on these accounts is tax-deferred.
- The catch-up contributions for individuals over age
55 are in addition to the monthly contribution limits ($800
maximum for 2007; $900 for 2008).
- The HSA balance rolls over from year to year if not
used.
River City Federal Credit Union Program:
- No fees associated with HSA transactions.
- No monthly service charge.
- Members can open as a share savings account, a share
draft (checking) account, or a share certificate.
- The interest rate for the savings or checking HSA is the same
as River City Federal Credit Union's Insured Money Market Account.
- Signature based debit cards are offered for this
type of account.
- Checks are offered for HSA checking accounts.
- Member is responsible for determining the eligibility of charges,
not the credit union.
SEE our rates.
Accumulative Individual Retirement Account
No minimum balance requirements.
You may not make any transfers to another credit union account
of yours or to a third party by means of a preauthorized or automatic
transfer, telephonic order or instruction, or similar order.
IRA withdrawals before age 59½ are subject to certain IRS penalties.
SEE our
rates.
Investment Alternatives
River City Federal Credit Union has teamed up with SWBC Investment
Services, LLC to bring you more investment choices. Learn
more.
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