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Savings

Put your hard-earned money to work

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.

Christmas Club Account

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.

Membership Savings Account

A Membership Savings account establishes your credit union membership and pays competitive dividends. A minimum balance of $250 is required to earn dividends.

Money Market Account

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.

Youth Savings Account

Help teach your kids the power of savings with their very own savings account! By starting them young you put them on the right path for a strong financial future, giving you peace of mind and helping them learn the value of saving for the future! Ages 0-12.

Teen Savings Account

 Help your teen learn to manage their own money! When they set up checking/savings accounts, they gain access to online & mobile banking to easily track their finances. Ages 13-17.

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!"

5/5

SHARE RATES

Effective March 2024

Share Rates

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

0.01%

0.01%

0.01%

0.02%

0.05%

0.01%

0.01%

0.01%

0.02%

0.05%

Youth Savings

$5.00 or more

0.49%

0.50%

Teen Savings

$5.00 or more

0.49%

0.50%

Christmas Club

$0.01 or more

0.02%

0.02%

Vacation Pay Checking

$2,500.00 or more

0.02%

0.02%

Money Market*

$2,500.00 to $9,999.99

$10,000.00 to $24,999.99
$25,000.00 to $49,999.99

$50,000.00 to $499,999.99
$500,000.00 or more

0.14%
0.19%
0.24%
0.29%
1.48%

0.14%
0.19%
0.25%
0.30%
1.50%

IRA Savings

$0.01 or more

0.01%

0.01%

*Money Market – Dividends are paid monthly based on the aggregate balance in the account.

Share Certificates

Certificate Terms

Minimum Balance to Earn Dividend

Dividend Rate

Annual Percentage Yield (APY)

3 Months

$1,000.00

0.24%

0.25%

4 Months

$1,000.00

4.88%

5.00%

6 Months

$1,000.00

0.64%

0.65%

10 Months

$1,000.00

4.40%

4.50%

12 Months

$1,000.00

0.84%

0.85%

Bump Up Share Certificate

Certificate Terms

Minimum Balance to Earn Dividend

Dividend Rate*

Annual Percentage Yield (APY)

18 Months

$1,000.00

0.89%

0.90%

24 Months

$1,000.00

1.97%

2.00%

36 Months

$1,000.00

1.86%

1.88%

*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.


Liquid Share Certificate* 

Certificate Term

Minimum Balance To Earn Dividend

Dividend Rate

Annual Percentage Rate  (APY)

12 Months

$1,000.00

3.30%

3.35%

*50% New money required.

Youth Share Certificate 

Certificate Term

Balance To Earn Dividend

Dividend Rate

Annual Percentage Rate  (APY)

12 Months

$50.00 to $500.00

6.77%

7.00%

Teen Share Certificate 

Certificate Term

Balance To Earn Dividend

Dividend Rate

Annual Percentage Rate (APY) 

12 Months

$100.00 to $1,000.00

6.77%

7.00%

IRA Certificate (Traditional and Roth)

Term

Minimum Amount To Earn Dividend

Dividend Rate

Annual Percentage Rate (APY)

4 Months

$1,000.00

4.88%

5.00%

10 Months

$1,000.00

4.40%

4.50%

12 Months

$1,000.00

0.84%

0.85%

Bump Up IRA Certificate (Traditional and Roth)

Term

Minimum Amount To Earn Dividend

Dividend Rate*

Annual Percentage Rate (APY)

18 Months

$1,000.00

0.89%

0.90%

24 Months

$1,000.00

1.19%

1.20%

*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.

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. For fees and penalty, please refer to current agreement and disclosures. However, we pay dividends up to the date of withdrawal.

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