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Deposit Accounts
Membership Savings
There are a variety of ways to save at your credit union, and all of them start with a $5 share (savings) account. A $5 deposit into a share account makes you a member-owner. As a member-owner, you can use the services of the cooperative and take advantage of outstanding rates and low-cost financial products.
Saving Money, Your Way.
There are times you just want to tuck money away that is earmarked for a specific purpose. Instead of having to open a new, separate account, ICCU gives members the opportunity to open sub-accounts. This way, you can have a separate place to save money for taxes, insurances, or any other reason you may have, while still having just one, simple-to-read statement and account number to remember. There are no minimum balance required to open or maintain a sub account at ICCU. There are no withdrawal penalties, minimum balances, or fees on Sub-Savings Accounts. Dividends are paid on balances over $100.
Premium Savings Account
The Premium Savings Account is an accessible, insured savings account paying a dividend for balances over $1,000. Talk to a Financial Service Representative about the many options available to determine what is best for you.
| Share (Savings) Account | |
| Effective Date: May 1, 2021 | |
| Account Type | Annual Percentage Yield |
| Base Share Account (000) | 0.05% |
| Dividends are paid on balances over $100, excluding youth accounts. $5 minimum balance required for membership. | |
| Premium Share Account (004) | 0.05% |
| $100.00 minimum balance to earn a dividend • Dividends compounded quarterly. | |
| Christmas Club (017) | 0.05% |
| ChristmasSavings balances are transferred on November 1st of each year. | |
| Vacation Savings | 0.05% |
| No minimum balance required for any club/sub account. Dividends compounded quarterly. | |
| Sub-Share Accounts (001-003) | 0.05% |
| No minimum balance required for any savings account. Dividends compounded quarterly | |
Money Market Savings Account
If you are looking for a safe and liquid investment account, with competitive earnings, ICCU’s Insured Money Market Savings Account is a great option! Interest is compounded and credited monthly, with competitive rates assigned at the beginning of each month. The tiered rate structure allows you to earn increasingly more as your balance grows.
| Insured Money Market Savings Account | |
| Effective Date: May 1, 2021 | |
| Amount | Annual Percentage Yield |
| $0 to $1,999.99 | 0.00% |
| $2,000 to $24,999 | 0.10% |
| $25,000 to $49,999 | 0.12% |
| $50,000 to $99,999 | 0.15% |
| $100,000 and up | 0.18% |
| $2,000 minimum balance requirement. Limited to six automatic debits, no more than three by check per month. Rates are subject to change. | |
Certificates of Deposit
A Certificate of Deposit (CD) is an insured investment that allows you to earn a guaranteed rate of interest for a specified period of time, called the "term." As you are agreeing not to touch that money for the term of the Certificate, you typically earn a higher rate of interest than you would in a regular savings account or money market. Generally, the longer the term, the higher the rate.
| Certificates of Deposit & IRA CD's | ||
| Effective Date: May 1, 2021 | ||
| Term | Annual Percentage Yield $500 Minimum | Annual Percentage Yield $10,000 Minimum |
| 03 months | 0.15% | 0.15% |
| 06 months | 0.25% | 0.25% |
| 12 months | 0.35% | 0.35% |
| 24 months | 0.45% | 0.45% |
| 36 months | 0.55% | 0.55% |
| 48 months | 0.65% | 0.65% |
| 60 months | 0.75% | 0.75% |
| Minimum Certificate of Deposit (CD) Balance:$500. Interest is compounded monthly. Penalty for early withdrawal. | ||
Youth Accounts
The hunt for buried treasure begins at your Credit Union! For ages of 5-12, join Captain Penn E. Pincher, the reformed Pirate, and learn the importance of saving money. Penn E. Pincher will show how depositing money in TREASURE HUNT SAVINGS Account will help you find buried treasure, better known as interest or dividends. For every $5 deposited, they will earn a gold coin, which they can save to purchase items in the Treasure Chest "Store" available at all ICCU offices.
Teen Accounts
Learn to Manage Your Money at the SRCU. Student members, teachers, faculty, and staff of Gratiot-Isabella Technical Education Center (G-I TEC) and Mt. Pleasant High School (MPHS) are welcome to visit and use the Student-Run Credit Union Branch (SRCU) in the G-I TEC located at Mt. Pleasant High School. The Student-Run Credit Union Branch is operated "By students, for students and school employees," under the direct supervision of ICCU employees.
Thirty Years of Cooperative Education-- ICCU is proud to hire, train, and mentor co-op students for over 30 years as part of a cooperative relationship with MPHS and the G-I TEC.
Special Savings Accounts
- Coverdell Education Savings Accounts (ESAs)
- Health Savings Accounts (HSAs)
- Individual Retirement Accounts (IRAs)
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