Savings Products
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Basic Savings
Our Basic Savings account offers an easy, convenient way for you to put away money for a variety of reasons. A minimum of $5 is all you need to open an account. You earn interest and pay no monthly service charge. Within the guidelines of savings regulations, you may make up to six withdrawals per statement period.*
Power Savings
The People’s Power Saver incorporates any one of our great checking accounts and a Power savings account. This account pays a premium interest rate with no monthly fee. To obtain the benefits of the Power Saver you must set up an automatic transfer from your People’s Credit Union checking account. A minimum of one transfer must be made per month with a maximum of a weekly transfer. The minimum amount to be transferred is $25.00 and the maximum is $500.00.
Premium Savings
This Savings account is a tiered account that offers higher interest rates for accounts with larger balances. Within the guidelines of savings regulations, you may make up to six withdrawals per statement period.* A deposit of $5.00 is required to open an account and you will earn interest on any balance over $10,000. There are no service charges, no monthly fees and no per check fee.
Money Market
Our Money Market account combines a competitive, tiered interest rate with the convenience of check writing privileges* on maintained balances as low as $2,500. We offer interest rate tiers at $2,500, $25,000, $50,000 and $75,000. A monthly fee of $10 will be waived if you maintain a minimum balance of at least $2,500. Our Money Market account keeps your funds working for you and readily available.
Certificates of Deposit (CDs)
Our Certificates of Deposit allow greater flexibility and guaranteed interest over the term of the deposit.** We offer a variety of terms ranging from 3 months to 5 years. Most Certificate of Deposit accounts can be opened with as little as $500. Our CD Loyalty Rewards Program provides the opportunity to earn even higher yields as your total relationship with People’s Credit Union grows.
Individual Retirement Accounts (IRAs)
With our IRA Certificates of Deposit, your savings can benefit from guaranteed investment returns and tax-deferred interest, providing the best possible return on your savings. You’ll find a range of investment periods available, with most requiring only a $500 minimum deposit required. We also offer the Roth IRA and the Education IRA which both feature tax-free withdrawals.
IRA Statement Account
If you’re just starting your IRA, or want to save a little every week or month, our IRA Statement Account is the perfect choice. A minimum deposit of just $100 will open your account, and interest is compounded from day of deposit to day of withdrawal and is paid quarterly.
Holiday Club
Our Holiday Club account may be opened with as little as $1.00 and can be used to help prepare for those holiday shopping needs. You earn interest payable at the end of the club term and pay no monthly service charge. Your funds will be paid out in October, just when you need them most. Within the guidelines of savings regulations, you may make up to six withdrawals per statement period.*
*Transactions limitations: During any statement period,
you may not make more than six withdrawals or transfers to another
credit union account of yours or to a third party by means of
pre-authorized, automatic, or computer transfer or telephonic order or
instruction. If you exceed the transfer limitations set forth above in any
statement period, you account may be subject to a fee of $10.00 per
transaction that exceeds the limitation and account closure.
