Savings

If you have gained membership with a basic savings account, you can take your savings to the next level with our specialized accounts.

“Team work has been an integral part of our business here at Native Exotics, with our local community and with Alternatives Federal Credit Union. We wouldn’t have grown in the ways that we have without their help.”

Share Certificate

Get more from your savings. Our fixed-rate share certificates offer more guarantee than other risky investments. We offer multiple terms, to help you save for specific needs.

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  • Fixed dividend 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 (from 3-60 months)
  • No setup or maintenance fees
  • Early withdrawals subject to penalty*
  • Renews automatically upon maturity**
  • Free online access
  • Free mobile access
  • Free eStatements
  • Minimum deposit to open:
    • $5,000 for 3 and 6 month terms
    • $2,500 for 12 month terms
    • $500 for 24–60 month terms

*We will impose a penalty if you withdraw any of the principal from a certificate. The amount of the penalty varies based on the term of the account. For 3–18 month terms, the penalty is 90 days earned dividends. For 24–60 month terms, the penalty is 180 days earned dividends.

**This account automatically renews at maturity. A notice will be sent to members 40 days before maturity. If you do not provide instructions for renewal of the account at maturity, your deposit will be rolled over into a new certificate of the same term length, at the current rate.

Individual Retirement Account (IRA)

Take charge of your retirement. An IRA makes it easy by offering tax-advantaged* savings options in which to invest your hard-earned money.

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  • Earn competitive dividends above standard savings rates
  • Pays monthly dividends
  • Choose from Traditional and Roth options
  • No setup fees
  • No monthly or annual maintenance fees
  • Annual contribution limits apply
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase certificates within IRA
  • Contributions may be tax deductible*
  • $5 minimum deposit to open

*Consult a tax advisor.

Simplified Employee Pension Plans (SEP IRAs)

Enhance your benefits package and help your employees save for retirement. This specialized account is ideal for small companies and self-employed individuals.

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Details

  • Ideal for businesses of any size or self-employed individuals
  • Help employees reach their retirement savings goals
  • Employee always has complete ownership of all SEP IRA money
  • Earn competitive dividends on entire balance
  • Contributions are tax deductible; your business pays no taxes on earnings*
    • Contributions made only by the employer
    • Only self-employed individuals may make contributions on their behalf
  • Little to no documents to file with government
  • Inexpensive to set up and operate
  • Flexible annual contributions to accommodate changes in cash flow
  • Can contribute up to 25% of each participant's annual compensation (earned income)
    • Or, up to the maximum allowable limit for current plan year, whichever is less*
    • Must contribute equally for all employees
  • Employee must first establish a traditional IRA, in which the employer will deposit SEP contributions
  • $500 minimum deposit to open

*Consult a tax advisor.

Savers Club

Meet your seasonal needs by setting aside money throughout the year. You will reach your goal without having to tap into your main savings.

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Details

  • Set money aside little by little, year-round for holiday or vacation-related expenses
  • Earns greater dividends than regular savings
  • No monthly maintenance charges
  • Avoid holiday or vacation-induced debt and stress
  • Make deposits at any time, in any amount that works for you, or set up direct deposit
  • Early withdrawal will result in a penalty*
  • $100 minimum deposit to open

*There are no partial withdrawals permitted. If you close your account before dividends are credited, your deposits will be paid, but you will not receive the accrued dividends. Your Savers Club Account will be assessed a fee of all earned dividends if it is closed prior to maturity. Withdrawals for the purpose of closing on a home purchase are permitted without penalty.

Lucky Savers Certificate

Lucky Savers is a prize-based savings product. For every $25 savings deposit (up to $250 per month) made into the certificate account you will be entered to win a prize from $25 to $5,000.

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  • Save money and get a chance to win monthly cash prizes
  • Set money aside little by little, year-round for just about any goal
  • Earns greater dividends than regular savings
  • $25 minimum balance required to maintain account
  • No monthly maintenance charges
  • Make deposits at any time, in any amount that works for you
  • Early withdrawal will result in a penalty*
  • Only one Lucky Savers account allowed per person
  • $25 minimum deposit to open

    See official rules.

    Complete the required survey to get started.

    *If you close your account before dividends are credited, your deposits will be paid, but you will not receive the accrued dividends. Your Lucky Savers Club Account will be assessed a fee of all earned dividends if it is closed prior to maturity.

    Non-dividend savings and checking

    We make it easy to forgo dividend returns — whether for bookkeeping or tax reasons. Or, you may donate your dividends to Alternatives' non-profit affiliate, Alternatives Impact.

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    Home Buyer’s Club

    Make saving for a home easier with a dedicated club account. Make regular deposits throughout the year, or set up direct deposit to help you reach your goal.

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    Details

    • Set money aside little by little, year-round for home buying
    • Earns greater dividends than regular savings
    • Separate fund from primary savings to reach your goal faster
    • No monthly maintenance charges
    • Make deposits at any time, in any amount that works for you, or set up direct deposit
    • Early withdrawal will result in a penalty*
    • $100 minimum deposit to open

    *There are no partial withdrawals permitted. If you close your account before dividends are credited, your deposits will be paid, but you will not receive the accrued dividends. Your Home Buyer's Club Account will be assessed a fee of all earned dividends if it is closed prior to maturity. Withdrawals for the purpose of closing on a home purchase are permitted without penalty.

    Truth-in-Savings Disclosures: