Savings Accounts from Diversified Credit Union
Diversified Credit Union offers a wide range of savings options to help you reach your personal financial goals. Whether you’re just starting out or are a new parent, saving for college or planning for your retirement, we can help. Your savings will earn more at your credit union than anywhere else.
As a not-for-profit financial institution, we are proud to offer better rates and fewer fees to our members. Join DCU for a lifetime of savings!
Share Savings Accounts
Members are required to deposit at least $10 in a share savings account at the credit union upon joining, and must maintain a $10 minimum balance to use any or all of the services we offer. Dividends are calculated on your average daily balance and paid to this account quarterly. There is no penalty for withdrawing your money when you need it.
Holiday Savings Accounts
Open a holiday savings account anytime during the year and withdraw your savings at any time; this account is a great way to reduce holiday stress. Dividends are paid quarterly. Payroll deductions or direct deposits are encouraged. (The account is not automatically closed if the balance reaches zero.)
Special Savings Accounts
Designed to help you achieve your short-term financial goals, these accounts can also be used to save for any special reason (i.e., taxes, a vacation, new furniture, etc.). Dividends are paid quarterly.
Earn more when you buy a DCU certificate – the rate is guaranteed for the term of your choice. Dividends are paid quarterly. Certificates earn a higher rate of return than regular shares!
Our option with a 6-month term requires a $1,000 minimum deposit. Certificates are also available for 12, 18, and 60-month terms, with a $2,500 minimum deposit. Once you purchase your certificate it earns the rate in effect until maturity.
A Money Market account is a good option if you are saving in the short term. For example, a student might put a large part of his summer earnings into a money market account rather than a regular checking account, thus maximizing his interest before withdrawing it later in the school year.
Unlike a certificate of deposit which carries a set term, you can withdraw funds from a Money Market savings accounts at any time. And unlike a regular savings accounts, there is a limit on the number of withdrawals you can make from your Money Market account each month.
With a minimum balance of $2,500, you’ll earn money market yields – and when your balance reaches $10,000, $20,000, or $50,000, you’ll earn a higher rate on your entire account. Dividends are paid monthly.
Check out our tax-deferred Individual Retirement Accounts!
A share savings account for IRA investments has no minimum deposit and earns dividends. Dividends are calculated on your average daily balance and paid to this account semi-annually. An IRA Certificate of Deposit features a low minimum-deposit requirement, terms and interest rates similar to our traditional Certificates of Deposit. The rate is locked in for the full term of the deposit. Upon CD maturity, the funds are automatically transferred into your IRA account.
APYs are based on the required minimum deposits and interest is compounded quarterly. Loss of interest penalties apply to certificates redeemed prior to maturity. Ask our IRA specialists which type of account will work best for you!
5-5-5 Savings Program
When you open a Diversified CU Savings Account
You put in $5, We’ll match your $5, And we donate $5.
Diversified Credit Union offers you the chance to give back to your community, simply by becoming a member!
Thanks to our 5-5-5 Savings Program, we make a monthly donation to a charity on behalf of our new members. In Minneapolis, that charity is Sharing and Caring Hands, and in Waseca we donate to the Neighborhood Service Center.
Let’s face it, young adults need a variety of economical financial services to manage their money! Let us help:
Share Savings Accounts
Learning financial responsibility begins at a young age. In fact, Diversified Credit Union can help your child or grandchild get started as soon as they have their own Social Security number. Any blood or adoptive relative of a primary member is eligible for their own Share Savings Account with a minimum opening deposit of just $10. Earn a competitive dividend calculated on your average daily balance. (Hint: You may want to remain a joint member on your child or grandchild’s account in order to monitor their account activity all the way through their school years.)
Our Products Grow With You!
Teenagers can take advantage of these DCU services to meet their changing financial needs:
- Prepaid Debit Cards can help your child safely learn to budget their spending. There is no age limit on use of this card.
- No Minimum Balance Checking Accounts with no monthly fee are perfect for students 16+ years of age (must have an adult member as joint owner).
- Check (Debit) Cards to access your money at merchants and cash machines everywhere.
- Visa Credit Cards with a $500 credit line, to help establish a good credit rating (with a qualified co-signer).
One easy way to make sure your child’s account balance grows steadily is to sign up for automatic transfers from your account to theirs. Or mail us regular deposits designated for their account.
Current Savings Rates
Terms as of April 1, 2017
*APY is annual percentage yield. Quoted rates are subject to change.
$10 minimum balance to open share account.
IRA CERTIFICATES OF DEPOSIT
18 month, $2,500+
CERTIFICATES OF DEPOSIT
APYs are based on the required minimum deposits and all dividends paid quarterly to the certificate. APY may vary if dividends are paid to another account. Loss of dividend penalties apply to certificates redeemed prior to maturity.
6 month, $1,000+
12 month, $2,500+
18 month, $2,500+
24 month, $2,500+
36 month, $2,500+
60 month, $2,500+
MONEY MARKET SAVINGS
Dividends are paid monthly on balances of $2,500 or more.
A $5 fee is assessed each month the balance is below $2,500.
$ 2,500 minimum