Investments

Investment accounts

SMW 104 Federal Credit Union offers many opportunities to save and invest with a variety of Share Certificates and retirement accounts. All share accounts are insured up to $250,000 by the National Credit Union Administration (NCUA). Please contact our office regarding coverage amounts for IRA and Trust Accounts.

Share Certificates

We offer competitive rates on our Share Certificates with terms from 3 months to 36 months. The minimum amount to open a Share Certificate is $1,000. Share Certificates with terms of 18 months to 36 months are eligible to “bump up” the rate to today’s rate one time during the current term, upon request. If you need to access the funds prior to maturity, we assess a minimal 30-day penalty.

Traditional IRA and Roth IRA Accounts

Our Individual Retirement Accounts (IRAs) pay a competitive dividend and provide a tax-deferred source of income for your retirement years.

IRA Accounts

Our IRA Certificates combine the high yields of Share Certificates with the tax advantages of an IRA account.

Deposits can be made in cash, check, payroll deduction, direct deposit, using our Mobile Deposit App, at any CO-OP Shared Branch location, or via ATM using your SMW 104 Federal Credit Union issued ATM or Visa® Debit card.

Current rates

Share Certificates – Fixed Rate

Effective December 2021

Certificate Terms

Rate Term

Minimum Balance to Earn Dividend

Dividend Rate*

Annual Percentage Yield (APY)

3 Months

Fixed

$1,000.00

0.030%

0.030%

6 Months

Fixed

$1,000.00

0.030%

0.030%

12 Months

Fixed

$1,000.00

0.050%

0.050%

18 Months

Fixed

$1,000.00

0.080%

0.080%

24 Months

Fixed

$1,000.00

0.080%

0.080%

36 Months

Fixed

$1,000.00

0.080%

0.080%

*The dividend rate on the Share Certificates can be increased or “Bumped Up” one time during the term of the share certificate. The minimum term for a “Bump Up” certificate is eighteen (18) months.

IRA Certificate (Traditional and Roth)

Term

Rate Type

Minimum Amount To Earn

Dividend Rate

Annual Percentage Rate

12 Months

Fixed

$1,000.00

0.010%

0.010%

24 Months

Fixed

$1,000.00

0.010%

0.010%

This rate schedule states rates applicable to specified accounts and is incorporated as a part of you account agreement with SMW 104 Federal Credit Union. For purposes of this disclosure, the dividend rate and annual percentage yield stated for the term share account where offered within the most recent 7 calendar days and were accurate as of the effective date. Rates determined by the Board of Directors and subject to change without notice.

Early Withdrawal Penalty – We may impose a penalty if you withdraw any of the principal balance from your Share Certificate account before the maturity date. The penalty imposed shall be 30 days interest. However, we pay dividends up to the date of withdrawal.

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