Savings accounts
Savings (Share) Account
The Savings Account or Share Account, as it is referred to in the credit union world, is the key account for membership at White Sands Federal Credit Union. Every member must keep their savings account open to continue active membership with the credit union. By maintaining an active membership, many doors open to the other great products and services offered by White Sands Federal Credit Union. With a low minimum balance requirement and competitive dividend rates, you can't go wrong with a savings account from the place where membership makes a difference.
Kirby Kangaroo Club
The Kirby Kangaroo® Kids Club is designed for children up to 12 years of age. Our Kirby Kangaroo® Kids Club helps kids learn how to save money while having fun at the same time! At White Sands Federal Credit Union we make it a priority to help educate children to establish savings habits that will carry with them into their future.
CU Succeed Club
The CU Succeed® Teens Financial Network is a program that was developed to meet the needs of young adults ages 13-17 years old. Learning to manage finances is very important, so White Sands Federal Credit Union is pleased to offer a program where young adults are given the opportunity to manage their own money, develop
budgeting skills and so much more, in a real world setting.
Money Market
Share Certificate
Share Deposits
| Dividend Rate | Annual Percentage Yield | |
|---|---|---|
| Regular Share | 0.20% | 0.20% |
| Kirby Kangaroo Savings Club | 0.20% | 0.20% |
| CU Succeed | 0.20% | 0.20% |
APY: Average Percentage Yield, based on compounded rate
Money Market
| Dividend Rate | Annual Percentage Yield | |
|---|---|---|
| Minimum Balance $2,500 | 0.20% | 0.20% |
| Minimum Balance $25,000 | 0.35% | 0.35% |
| Minimum Balance $50,000 | 0.40% | 0.40% |
| Minimum Balance $100,000 | 0.40% | 0.40% |
APY: Average Percentage Yield, based on compounded rate
Share and IRA Certificate
| Dividend Rate | Annual Percentage Yield | |
|---|---|---|
| 6 month | 0.30% | 0.30% |
| 1 year | 0.45% | 0.45% |
| 18 month | 0.55% | 0.55% |
| 2 year | 0.70% | 0.70% |
| 3 year | 0.90% | 0.90% |
| 4 year | 0.95% | 0.95% |
| 5 year | 1.35% | 1.36% |
Regular share and IRA certificate- Minimum required deposit $1,000
APY: Average Percentage Yield, based on compounded rate
Jumbo Share and IRA Certificate
| Dividend Rate | Annual Percentage Yield | |
|---|---|---|
| 6 month | 0.40% | 0.40% |
| 1 year | 0.55% | 0.55% |
| 18 month | 0.65% | 0.65% |
| 2 year | 0.80% | 0.80% |
| 3 year | 1.00% | 1.00% |
| 4 year | 1.05% | 1.06% |
| 5 year | 1.45% | 1.46% |
Jumbo share and IRA certificate- Minimum required deposit $25,000
APY: Average Percentage Yield, based on compounded rate
Share Accounts: The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. The dividend rate and annual percentage yield may change monthly as determined by the credit union's board of directors. The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period. If you close your account before accrued dividends are credited, accrued dividends will not be paid. There is a minimum average daily balance to avoid a service fee for the dividend period. If the minimum average daily balance is not met, there will be a service fee as set forth in the Truth and Savings Disclosure. There is a minimum average daily balance required to obtain the Annual Percentage Yield. Dividends are calculated by applying a periodic rate to the average daily balance in the account for the period. The average daily balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period. For savings and money market accounts, no more than six (6) preauthorized, automatic, or telephone transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your accounts may be subject to a fee or be closed.
Share Account IRA: The dividend rate and annual percentage yield may change monthly. Dividend rates are declared at the end of each dividend period. Dividends are compounded annually. If funds are withdrawn before the end of the month, dividends will not be paid for that month. Additionally, the IRS will impose a 10% penalty if funds are withdrawn before you reach the age of 59 . For additional information refer to your IRA account opening documents. Also available are Roth and Educational IRAs.
Share Certificates: Rates are variable and are determined at the discretion of the board or directors; therefore, the dividend rate and annual percentage yield may change. The dividend rates and annual percentage yield are fixed rates. That is, the dividend and annual percentage yield (APY) are reflected under investment rates. The dividend rate and annual percentage yield may change weekly on new certificates. If you close your account before dividends are credited, a penalty will be imposed as specified on the certificate document. The opening and minimum balance requirement is 1000.00-25,000. You may not make deposits into the account until the maturity date stated on the certificate. Other penalties that may be imposed are outlined on your certificate provided at the time it was opened.
