Primary Share (Savings) Account

This account represents your ownership in Neenah Foundry Credit Union. Primary account owners 18 and older are allowed to vote at the annual meeting.

A minimum balance of $5.00 must be maintained in order to keep a membership and eligibility for other services. Once a primary account is opened, additional share and club accounts are available.

Dividends are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account for the period The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period

. No dividends are paid on adult accounts with balances less than $50.00.  Children's accounts earn from the first $5.00. 

Rates can change monthly, check with the NFCU office for the most current information.

Your savings are federally insured to at least $100,000 and are backed in full faith and credit of the United States Government.

Share Certificates of Deposit (CDs)

Share certificates are savings deposits with a guaranteed rate of return. These have specific amounts committed for a specific period of time.

Special rates and terms are offered from time to time.

The dividend rate is fixed at the time the CD is opened. Dividends are calculated daily and paid at maturity. Notices are sent prior to the date of maturity. Call NFCU for current rates.

The certificate automatically renews at maturity. There is a ten day grace period from the date of maturity at which time you can withdraw funds or make changes to the term of the certificate with out being charged a penalty. A 90 day dividend penalty is imposed for early withdrawal.

Individual Retirement Accounts (IRAs)

IRAs allow you to start saving for your retirement now. They offer a means of investing in your future.

Deposits may be tax deductible depending on income, family status and current participation in a qualified plan. Earnings on IRAs held at NFCU are tax deferred. Combining tax-deferred earnings with the compounding of interest will give you rapid growth in the value of your account.

An early withdrawal from an IRA account taken before age 59 1/2, may result in a 10% IRS penalty. Please consult a tax advisor.

NFCU offers several investment options:

The Traditional IRA , a ROTH IRA and an Education IRA for your children.

Some of these types of IRAs may be placed in one or both of the following:

IRA Open Share Account

This is an account to which deposits may be added at any time. Payroll deduction works best since it is systematic and continuous. Funds deposited thru payroll deduction can only be credited to the current year. Cash deposits may be made at any time. Deposits made before April 15 may be attributed to the previous year.

The dividend rate, which may change monthly, is usually higher than the dividend paid on any regular share account. The dividend is computed on the balance and paid monthly to the account.

IRA Certificate of Deposit  (CD)

A one year certificate with a guaranteed rate, is available with a minimum deposit of $2000. The rate is usually the same or higher than a regular one year CD.

Contributions made from January 1 to April 15 can be designated to the prior tax year.

Dividends are paid on the actual balance and deposited to the certificate at maturity.

Early withdrawal of funds before the 1 year maturity will result in the forfeiture of 90 days dividends on the certificate. Other penalties may apply.

Contact the IRA specialist at your credit union for more specific information.

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