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Savings & Investing

Prime Share

A Prime Share Account is our basic building block for financial success. This account unlocks all the benefits your credit union has to offer. Your $25 minimum deposit gives you ownership rights of the credit union as well as voting privileges in choosing our board of directors. Every member is required to keep at least $25 in the account at all times for membership. With this account, you will have access to the wide range of other great services that we provide at ACU!

Golden Share

A Golden Share Account may be opened anytime during the year and is a great high yield savings account. Many members use this account to save for future expenses, children's accounts, college funds, rainy day funds, and much more! This account is a truly flexible savings vehicle for anything worth saving for.

 

Life Happens Savings

Life Happens is a great savings option that can help you save for unexpected expenses. Earn 1.00% APY* on the first $2,000**. Whether it is an unexpected medical expense or to help cover an insurance deductible, you'll be glad you saved up for when... Life Happens!

*APY is Annual Percentage Yield. The annual percentage yield may change monthly as determined by the board of directors.

**Not available for business, organizational, trust or estate accounts.

If you are a current member and would like to open a Life Happens Savings account, click the link to sign up. 

A+ Savers Club

Turn those good grades into cash in your account!

Good grades are money in the bank. Literally! The A+ Savers Club is a program that rewards children in grades K-8 with cash deposits into their savings accounts when they bring in their semester report cards. For every A, or grade equivalent, the student will receive a $4 deposit into their savings account. For every B, a $2 deposit will be made. Maximum deposit is $20 per student, per semester and will include only core subjects taken during the semester (math, science, social studies, reading, etc.)

To qualify, students must be a member of Advantage Credit Union and bring in a copy of their semester report card.*

A+ Savers Club

Want to open an account for your child?

Here’s what you’ll need:

  • Child’s birth certificate

  • Child’s social security card

  • Parent/Guardian’s non-expired driver’s license with a current address

  • Proof of address (if parent/guardian ID does not have a current address)

*Subject to membership eligibility requirements. $25 deposit into Prime Share account required. Prime share account earns .15% APY. APY is Annual Percentage Yield. APY accurate as of 2/1/24. No minimum balance required after initial $25 deposit. A's that Pay earnings are considered a bonus and will be paid at the time the report card is presented. A's that Pay promotion expires February 29th, 2024. Fees may reduce earnings on account.

Christmas Club

A Christmas Club Account may be opened anytime during the year and deposits may be made up to October 31. The entire account balance will be paid out in early November. A Christmas Club Account is a great savings vehicle and budgeting tool that helps you stay on top of your finances when planning your holiday expenses.

Vacation Club

A Vacation Club Account may be opened anytime during the year and deposits may be made up to April 30. The entire account balance will be paid out in May. A Vacation Club Account is a great savings vehicle and budgeting tool that helps you stay on top of your finances when planning your next family vacation.

Money Market

A Money Market Account offers you the benefit of earning a higher interest rate while still having access to your funds. Transaction limitations apply. See disclosure for details.

Term Share

A Term Share, commonly referred to as a CD, offers higher yields than savings accounts with restricted availability of your funds.

Health Savings

How does it Work?

If you are eligible for a Health Savings Account, the contributions you make are tax deductible up to the IRS limit. You can also earn tax-free interest on the account. Then, when you have qualified medical expenses, you can withdraw from the account tax-free. This may be done by writing checks on your HSA account, using your HSA Visa debit card, or by withdrawing funds directly from the credit union. The account owner is responsible for substantiating that distributions are for qualified medical expenses. The credit union does not determine what is considered a qualified medical expense. Consumers should consult with a qualified tax advisor for additional tax information.

Why would I want a Health Savings Account?

Health Savings Accounts carry many benefits, such as:

• Qualified contributions are tax-deductible.

• Employer contributions may be excluded from your gross income.

• Qualified distributions are tax-free.

• Balances roll over from year to year – NO use it or lose it rule.

• Health Savings Accounts can continue even if you change jobs.

Am I eligible?

To be eligible to have a Health Savings Account, the individual:

• Must be covered by a qualified high-deductible health plan as defined by IRS.

• Cannot be enrolled in Medicare.

• Cannot be claimed as a dependent on someone else’s federal income tax return.

Are there limits to my contribution?

The contribution limits set by the IRS for 2024 are:

• Single Coverage Annual limit: $4,150

• Family Coverage Annual Limit: $8,300

The catch-up provision for age 55+ is an additional $1,000.

The annual contribution deadline is April 15th of the following year.

What if I change employers?

You can keep your account even if you change employers.

Accounts may also be transferred between financial institutions. If you currently have a Health Savings Account, consider transferring it to Advantage Credit Union.

Access your self-service portal that lists Frequently Asked Questions, allows you to change or add beneficiaries, make withdrawals and make contributions online.

Individual Retirement Account

Advantage Credit Union offers both Traditional and ROTH Individual Retirement Accounts (IRAs). When used at the credit union, these accounts can help you transition your investments between employers in the event of a job change or used as a savings vehicle in your retirement planning needs.

Access your self-service portal that lists Frequently Asked Questions, allows you to change or add beneficiaries, make withdrawals and make contributions online.

Coverdell Education Savings

A Coverdell Education Account is used to help pay for qualified education expenses. This tax-advantage account is designed to encourage savings to cover expenses such as tuition, books, uniforms, etc. Consumers should consult with a qualified tax advisor for additional tax information.

Access your self-service portal that lists Frequently Asked Questions, allows you to change or add beneficiaries, make withdrawals and make contributions online.