Savings Accounts
Whether you are 6 or 60, saving for Christmas gifts or want to open a certificate, we have a savings option for you. With competitive dividends and payroll deduction, saving is simple at CPM Federal. Because your money is federally insured, you can breathe easy knowing your savings are safe, secure and strong. Start saving at your credit union today and keep your hard earned money growing.
• Savings
• Christmas Club Savings
• Sub-Savings for that special occasion or purchase
• Money Market Accounts
• Certificate Accounts
• IRAs
• EE or I Savings Bonds
Savings Account
Our Savings Account is not just your average savings account. It also serves as your single share of CPM Federal Credit Union. With only a $25 opening balance, you will receive credit union ownership and voting rights. Having a savings account at CPM Federal will also open the door to a complete range of financial benefits.
Christmas Club
Do you feel like the expenses of the holidays always sneak up on you? With our Holiday Club account, you have the amount you want to save taken automatically out of your paycheck throughout the year for out of sight, out of mind savings.
Performance Money Market
We created our Performance Money Market with the savvy member in mind. This great way to save is federally insured, has a manageable minimum balance of only $2000, competitive dividends paid monthly and you still have access to your savings through checks.
Certificate Account
We pride ourselves on having flexible products and our Certificate Accounts are a good example. Not only do we offer great rates on Savings, Certificates, and IRA Certificates, but our terms range from 3 months to 60 months with only a $250 opening deposit.
EE Savings Bonds
Looking for low-risk and reliable Savings Bonds? Purchase Series EE Savings Bonds that are government backed and are sold at half of their face value! To find out more information regarding Series EE Savings Bonds you can call 1-800-255-1513, visit www.treasurydirect.gov, or stop by one of our branch locations to speak with a Financial Serivce Representative. To purchase a Savings Bond, you must be a CPM member and have a minimum of $25 in a savings account.
Savings Accounts (Last Modified: Jun 03, 2010)
| Description | Balance | Dividend Rate | APY (Annual Percentage Yield) |
|---|---|---|---|
| Savings Account | $0.00 | 0.20% | 0.20% |
| Christmas Club | $0.00 | 0.20% | 0.20% |
$25.00 minimum balance is required to maintain a Savings Account. Rates listed above are subject to change after the account is opened. Certain fees may apply and may reduce earnings.
Certificates (CDs/IRAs) (Last Modified: Jun 17, 2010)
| Description | Term | Dividend Rate | APY (Annual Percentage Yield) |
|---|---|---|---|
| Certificates | 1 month | 0.50% | 0.50% |
| 3 months | .75% | .75% | |
| 6 months | .95% | .95% | |
| 12 months | 1.00% | 1.00% | |
| 24 months | 1.25% | 1.26% | |
| 36 months | 1.35% | 1.36% | |
| 48 months | 1.45% | 1.46% | |
| 60 months | 1.50% | 1.51% | |
| Certificates (IRA) | 12 months | 1.00% | 1.00% |
| 24 months | 1.25% | 1.26% | |
| 36 months | 1.35% | 1.36% | |
| Savings IRA (No minimum balance) | N/A | 0.20% | 0.20% |
Minimum deposit for IRA Certificate Accounts - $250.00
Rates are fixed for the term of the Account.
A Penalty may be imposed for early withdrawal.
Members over 55 years of age will have .25% added to the above rates. New certificates greater than $50,000 will receive an additional .25%.
Youth - minimum deposit of $100. 3 months - 2 years terms. $3,000 maximum certificate amount. Dividends may be withdrawn at any time without penalty or added to principal. Penalty for early principal withdrawals.
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