Federally insured by the NCUA
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SMW 104 Federal Credit Union offers many opportunities to save and invest with a variety of savings type accounts and share certificates. All of the 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.
A Membership Savings account establishes your credit union membership and pays competitive dividends. A minimum balance of $250 is required to earn dividends.
Our Christmas Club account is an excellent way to save for the holidays and pays competitive rates. The funds are transferred to a specified SMW 104 Federal Credit Union Share account or disbursed by check (upon request), on the first working day of November. The final day to deposit is October 31st. This account is NCUA insured.
Our Union Dues account pays your Sheet Metal Workers’ Local Union No 104 District 1 and District 2 monthly dues. Upon request, funds can be transferred from your Regular Savings, Vacation Pay, Money Market or Checking Account. To establish your automatic payment, authorization forms are available at the credit union office or any of the Sheet Metal Workers’ Local Union No 104 district offices.
Our Tools account is available to Apprentice members of Sheet Metal Workers’ Local Union No 104. This account makes it easier to purchase the tools you need and make 10-payments.
Our Money Market accounts are ideal for members who want to earn higher dividends than a traditional savings account, yet offer more flexibility. You have the ability to take up to three withdrawals monthly without penalty. A minimum balance of $2,500 is required to earn dividends.
Our Loan Payment Savings accounts are used to pay SMW 104 Federal Credit Union loan payments, which are set-up on an automatic transfer and originate from the Vacation Pay account. Should the account balance be insufficient to cover the monthly payment(s), a courtesy letter will be mailed prior to the due date to advise of the shortage and payment options.
We accept deposits by cash, check, payroll deduction, direct deposit, using our Mobile Deposit, at any CO-OP Shared Branch location or via ATM using your SMW 104 Federal Credit Union issued Visa Debit card. Our Routing Number is 321171317.
"Moving my savings to SMW 104 FCU was the smartest financial decision I've made!"
Effective June 2023
Account Name | Balance | Dividend Rate | Annual Percentage Yield (APY) |
Membership Savings | $250.00 to $2,499.99 $2,500.00 to $19,999.99 $20,000.00 to $49,999.99 $50,000.00 to $74,999.99 $75,000.00 or more | 0.015% 0.015% 0.015% 0.025% 0.050% | 0.015% 0.015% 0.015% 0.025% 0.050% |
Christmas Club | $0.01 or more | 0.020% | 0.020% |
Vacation Pay Savings* | $2,500.00 or more | 0.020% | 0.020% |
Vacation Pay Checking | $2,500.00 or more | 0.020% | 0.020% |
Money Market** | $2,500.00 to $9,999.99 $10,000.00 to $24,999.99 | 0.149% | 0.149% |
IRA Savings | $0.01 or more | 0.010% | 0.010% |
Youth Savings | $5.00 or more | 0.499% | 0.500% |
Teen Savings | $5.00 or more | 0.499% | 0.500% |
*Vacation Pay Savings – This product has been grandfathered.
**Money Market – Dividends are paid monthly based on the aggregate balance in the account.
Certificate Terms | Minimum Balance to Earn Dividend | Dividend Rate | Annual Percentage Yield (APY) |
3 Months | $1,000.00 | 0.245% | 0.250% |
6 Months | $1,000.00 | 0.645% | 0.650% |
12 Months | $1,000.00 | 0.843% | 0.850% |
Certificate Terms | Minimum Balance to Earn Dividend | Dividend Rate* | Annual Percentage Yield (APY) |
18 Months | $1,000.00 | 0.893% | 0.900% |
24 Months | $1,000.00 | 1.979% | 2.000% |
36 Months | $1,000.00 | 1.862% | 1.880% |
*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.
Certificate Term | Balance To Earn Dividend | Dividend Rate | Annual Percentage Rate (APY) |
12 Months | $50.00 to $500.00 | 4.875% | 5.000% |
Certificate Term | Balance To Earn Dividend | Dividend Rate | Annual Percentage Rate (APY) |
12 Months | $100.00 to $1,000.00 | 4.877% | 5.000% |
Term | Minimum Amount To Earn Dividend | Dividend Rate | Annual Percentage Rate (APY) |
12 Months | $1,000.00 | 0.843% | 0.850% |
Term | Minimum Amount To Earn Dividend | Dividend Rate* | Annual Percentage Rate (APY) |
18 Months | $1,000.00 | 0.893% | 0.900% |
24 Months | $1,000.00 | 1.191% | 1.200% |
*The dividend rate on the IRA 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.
Certificate Term | Minimum Amount To Earn Dividend | Dividend Rate | Annual Percentage Rate (APY) |
14 Months | $1,000.00* | 3.345% | 3.400% |
*New money only.
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. Other fees may apply. Please refer to our fee schedule. However, we pay dividends up to the date of withdrawal.
