This is your required membership share savings account, it offers tiered dividend rates. Members earn higher dividends based on the account balance. Minimum required balance is $5, dividend earnings begin with a balance of $100. Rates are compounded and credited monthly.
At Interfaith FCU we believe in saving with a purpose towards a meaningful future. If your plans include a mission trip, attending a conference, furthering your education, or going to camp, we are here to support your journey. Purpose Savings provides the opportunity to earn up to $150 in matching funds towards your Purpose Savings goal.
Minimum balance for the Money Market Multiplier is $2,000. Tiered dividend rates are based on your balance and are compounded and credited monthly. Write up to three checks per month and make three transfers per month. You may make transfers from other IFCU accounts using e-Branch Internet Banking, our automated phone line, automatic transfer or by calling a Interfaith Federal Credit Union Branch. A $15 fee will apply to minimum balances below $2,000 or if more than six transactions occur during any one month period.
This account is designed for children up to 18 years of age. It can be a great start to teaching youth the importance of financial responsibility. It only requires a $5 initial deposit to open, there is no new member fee. Youth accounts earn a higher dividend rate than our regular member share savings and dividends are paid monthly. Parents and grandparents often open these accounts then set up an automatic deposit to steadily build a savings future for the important children in their lives. At age 18 the account automatically converts to a regular member share savings.
This account is designed to create a year-round savings habit resulting in greater peace of mind with more room for faith, family and community when the holidays arrive. Designate a specific monthly transfer from another account or add to your club account any time during the year. The dividend rate for this account is usually higher than our regular member share savings. Minimum opening balance is $0. The minimum to earn dividend is $1. Dividends paid monthly. This savings account is limited to no more than 2 withdrawals prior to October 1st. Unlimited withdrawals between October 1 and December 31st. Account resets annually on January 1st. See disclosures and fee schedule for more infomation.
Member accounts are federally insured up to $250,000 by the National Credit Union Administration.
