Savings Products
All savings accounts are insured to $100,000 by the National Credit
Union Association (NCUA). Deposits can be made conveniently by mail
(checks only), night deposit (Schererville and Gary), payroll deduction,
direct deposit or in person at any of our service locations. Withdrawals
may be made anytime as long as the account is in good standing and
no holds are placed on the account.
Share Savings
A smart way to start earning money (dividends) on your savings is
with an Advance Financial regular share savings account. With the
minimum $5.00 requirement to open the account, you’ll have
ownership in the credit union as well as access to all of our other
products and services.
- Required $5.00 minimum deposit
- Dividends are calculated and credited monthly, with your rate
being determined by the average daily balance
- 24/7 Touch Tone Teller, CU Online and ATM access
- Moe Monkey Kids' Club available
to members ages 12 and under
- Cha-Ching Teen Club available
to members ages 13 to 19
- Better Than 50 Club available
to members ages 50 and better
Money Market Savings
The Money Market Savings Account (MMSA) is a savings account that
pays you better dividends than a regular share account and allows
you to maintain liquidity, unlike a certificate account. Because the
MMSA is not an investment product and the National Credit Union Association
(NCUA) insures it, there is absolutely no risk to your deposited funds.
You’re simply earning a higher return on your savings!
- Higher average yields than share savings
- Minimum balance of $500 required to earn dividends
- Four-tiered higher interest rate structure provides greater
returns when balances rise to $2,000, $20,000 and $75,000
- Dividends are calculated and credited monthly, with your rate
being determined by the average daily balance
- Deposited funds are insured and risk free
- No penalties for withdrawals
- 24/7 Touch Tone Teller, CU Online and ATM access
Free Checking
Simple, worry-free checking that gives you exactly what the name suggests
— a convenient checking account that’s absolutely free
of monthly service charges and minimum balance requirements. We also
offer the added benefit of free online banking and bill pay so that
complete financial control is never more than a click away.
- No minimum balance requirement or monthly service fees
- No direct deposit requirement
- Unlimited check writing and no per check fees
- Six electronic transfers from savings per month to protect
from overdrafts
- VISA ATM/debit cards
- Free online banking and bill pay
- View check images online
- 24/7 Touch Tone Teller, CU Online and ATM access
Better Than Free Checking
What can possibly be better than free? Checking that pays! Advance
Financial has developed a Better Than Free Checking account that
not only offers all of the features you’ve come to love from
free checking, but it also pays you interest. Plus, you’ll
receive free checks for the lifetime of the account. Now what’s
‘better’ than that?
- Interest paid on all account balances
- No minimum balance requirement or monthly service fees
- No direct deposit requirement
- Unlimited check writing and no per check fees
- Free ‘lifetime’ checks*
- Six electronic transfers from savings per month to protect
from overdrafts
- VISA ATM/debit cards
- Free online banking and bill pay
- View check images online
- 24/7 Touch Tone Teller, CU Online and ATM access
*Free checks are duplicate 'logo' checks.
Advantage Plus Checking
If receiving extra benefits above what our basic checking account
has to offer sounds appealing, you might want to find out more about
Advantage Plus Checking. For a $5 monthly membership fee, you’ll
receive monthly dividends, cash rewards when you travel, everyday
rebates, preferred pricing on many prescription medications and
much more. Take a look at our posted brochure or contact an Account
Representative for complete details.
Holiday Club
Looking for a convenient way to save for the holidays? Open up a
holiday club account and you’ll never worry about being short
on cash again. This account allows you to save money throughout
the year, earn dividends and receive the cash needed for holiday
shopping.
- No minimum balance requirement
- Earns the same interest as a regular savings account
- Dividends are calculated and credited quarterly, with your
rate being determined by the average daily balance
- Make deposits in any denomination
- Savings will be distributed in October to either savings or
checking, whichever you’d prefer
- Make transfers using Touch Tone Teller or CU Online
Back-to-School Club
Start saving for the expected (and unexpected) expenses associated
with each new school year with our back-to-school club account. Like
our holiday club, you can save all year long, earn dividends and receive
the cash you need just in time for school.
- No minimum balance requirement
- Earns the same interest as regular savings account
- Dividends are calculated and credited quarterly, with your
rate being determined by the average daily balance
- Make deposits in any denomination
- Savings will be distributed into either savings or checking
in early August
- Make transfers using Touch Tone Teller or CU Online
The Wedding Registry Account
Getting married soon? The Wedding Registry Account is the polite
way to ask for wedding cash. And after all, that’s the gift
most couples need most. For wedding and honeymoon expenses, setting
up a new household, even saving for a new home. Making deposits
into the account is easy — and it’s safer than giving
checks or cash.
- Provides Wedding Registry Cards that can be mailed out with
bridal shower or wedding invitations
- Gift givers will receive a receipt and a personalized thank
you letter with a tear-off gift announcement to include with their
bridal shower or wedding card – another reminder of their
generosity
- Couples will receive duplicate receipts of all deposits to
keep up-to-date with the account
- Wedding cash is all in one safe, convenient place, ready to
use when you need it
- Earns the same interest as a regular savings account
- Couples receive a free gift at account opening and special
savings – 1/4% loan discount and 1/4% CD bonus*
*Special savings cannot be combined with any other special offer,
and they expire after two years. Loan discount excludes VISA, first
& second mortgages and the Home Equity Line-of-Credit. Offers
are non-transferable.
Individual Retirement Accounts
No matter what stage of life you’re in, an Individual Retirement
Account (IRA) can help with your financial planning. The future
arrives every day – now is the time to prepare for it. An
IRA brings you significant up-front tax advantages, and with less
money taken out for taxes, the power of compound earnings is strengthened.
You may choose between an IRA share (savings) or an IRA certificate.
- $50 minimum opening balance required for IRA share
- Variable rate earns higher interest than regular savings
- Dividends on IRA shares are calculated and credited quarterly,
with your rate being determined by the average daily balance
- $500 minimum deposit required for IRA certificates
- Penalty for early certificate withdrawal
- Earnings accumulate tax-deferred and contributions are tax
deductible if you qualify
- Contact an Account Representative for complete details
Share Certificates
For members looking for an investment, we offer share certificates
that guarantee returns higher than other savings programs. Share certificates
offer you the benefit of higher interest rates because you agree not
to withdraw funds from the account for a specified length of time.
The interest paid depends on current market conditions at the time
your account is opened and the length of time you agree to leave your
money on deposit.
- Minimum deposit is $500
- Eight terms to choose from: 3, 6, 18 months or 1, 2, 3, 4,
5 years
- Higher interest rate than all other savings accounts
- Dividends are calculated and credited monthly, with your rate
being determined by the day in/day out method
- Dividends can be compounded or deposited into your savings
account
- Automatically renewed on the date of maturity
- Penalty for early withdrawal
Payday Certificates
The Payday Certificate is ideal for members that are looking to invest
and earn higher dividends but don’t have the minimum certificate
requirement of $500 up front. This certificate allows you to set up
for direct deposit or payroll deduction so that you can meet the $500
requirement upon maturity and reap its rewards. It’s just one
of the smarter ways we can help you to handle your money matters and
achieve your goals.
- Two terms to choose from: 6 or 12 months
- Minimum opening deposit is $40 for 6 months and $20 for 12 months
- Recurring deposit is the minimum amount to reach $500 at certificate
maturity
- Higher interest rate than other savings accounts
- Dividends are calculated and credited at maturity, with your
rate being determined by the day in/day out method
- Current share rate will apply if the $500 requirement has not
been met at the certificate's maturity
- Dividends can be compounded or deposited into your savings account
- Automatically renewed into a regular certificate on the date
of maturity provided $500 has been attained
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