Savings Savings Accounts

At New Alliance Federal Credit Union (New Alliance FCU), you have a variety of savings account options to choose from, including certificates, share savings accounts, money market accounts, youth savings accounts, and Individual Retirement Accounts (IRAs).

With our variety of savings accounts, we can accommodate your unique financial goals no matter what they may be. Check out each of our savings account types to see which one is best for you!

Certificates

Certificates provide a secure and low-risk savings or investment option that guarantees a competitive return on your funds. Unlike standard savings accounts, certificates offer the opportunity to earn higher interest rates, making them an attractive choice for individuals looking to maximize their savings. With term lengths ranging from three to 60 months, you can select the duration that aligns with your financial goals.

Additionally, certificates typically require a minimum deposit starting at just $1,000, ensuring accessibility to a wide range of investors. One of the key benefits of certificates is that they come with no maintenance or set-up fees, allowing you to grow your savings without worrying about hidden costs. Whether you're saving for a short-term goal or looking for a secure, long-term investment, certificates offer a reliable way to earn more from your money.

Certificate Overview

• Low-risk savings/investment option with a guaranteed return

• Earn higher interest rates than on standard savings accounts

• Term lengths from three to 60 months

• Minimum deposits from $1,000

• No maintenance or set-up fees

Share Savings

Our Share Savings account at New Alliance FCU is a fantastic option for individuals looking to build a secure financial future. With a remarkably low initial deposit requirement of just $1, it's easy to get started on your savings journey. What sets this account apart is its daily dividend-earning capability, which means that your money starts working for you from day one. As soon as your account reaches a balance of $100, you begin to earn dividends. These dividends are not only calculated daily but are also compounded and paid out quarterly, allowing your savings to grow steadily over time.

Accessing your funds is a breeze with the convenience of a debit card linked to your Share Savings account. This gives you the flexibility to manage your finances and make transactions seamlessly. New Alliance FCU also offers the option to save effortlessly through Payroll Deduction or Direct Deposit, making it simple to consistently contribute to your savings without manual transfers. Whether you're just starting your savings journey or looking to bolster your existing financial security, the Share Savings account provides an accessible and rewarding path to achieving your financial goals.

Share Savings Account Overview

• Open an account with just a $1 deposit

• Deposits earn dividends daily

• Start earning dividends as soon as your account reaches $100

• Dividends are compounded and paid quarterly

• Access your account with your Debit Card

• Save through Payroll Deduction or Direct Deposit

Money Market

Our Money Market Account is a dynamic and rewarding option for individuals who want their money to work harder for them. This account offers a compelling alternative to standard savings accounts with the potential to earn interest rates of up to 4.30% APY*, significantly surpassing average rates. With a minimum balance requirement of just $1,000, it's an accessible choice for those looking to make their savings work more efficiently.

One of the standout features of the Money Market account is the monthly compounding of dividends, which means your money keeps growing and generating more earnings on a regular basis. Moreover, this account provides flexibility with no limits on the number of withdrawals per month, making it a practical choice for those who need access to their funds when they need them.

The Money Market account at New Alliance FCU is also tailored for higher interest, meaning that the more you save, the more you earn. With tiered interest rates, your account can yield even greater rewards as your balance increases, making it an excellent choice for those looking to maximize their savings. Say goodbye to average interest rates and hello to a savings account that not only rewards your hard work but also takes your financial goals to the next level, all with the convenience and flexibility you need.

Money Market Account Overview

• Earn an interest rate up to 4.3% APY*

• Let your money work for you

• $1,000 minimum balance

• Dividends are compounded monthly

• No limit to the number of withdrawals per month

• No fee per transaction

• Tiered for higher interest

Youth Savings Accounts

The Youth Savings is a valuable tool for teaching kids the importance of saving money. This account comes with the "E is for Excellent Report Card Rewards" program, which rewards good grades and encourages academic excellence. New Alliance FCU also provides educational materials to help kids learn about money management, empowering them with financial knowledge from an early age.

When you open a "Good Habits Youth Savings Account," you receive a free gift, making the experience exciting and memorable for young savers. Moreover, this account introduces children and teens to the lifetime benefits of credit union membership, instilling good financial habits and a sense of community.

Overall, the Youth Savings account at New Alliance FCU offers a comprehensive platform for young savers to learn, grow, and build a solid foundation for their financial well-being while rewarding their academic achievements.

Youth Savings Account Overview

• Get rewarded for making good grades with our E is for Excellent Report Card Rewards program

• Educational materials for kids to learn about money

• Free gift when you open a Good Habits YSA

• Lifetime benefit of credit union membership

IRAs

Our Individual Retirement Accounts (IRAs) provide valuable tax advantages for retirement planning, including both Traditional IRAs and Roth IRAs, to suit your preferences. Traditional IRAs offer immediate tax benefits by allowing pre-tax contributions, while Roth IRAs provide tax-free withdrawals in retirement. We also offer Coverdell Education Savings Accounts for those saving for educational expenses. Our knowledgeable staff is ready to assist you in choosing the right IRA option, ensuring you make informed decisions for your financial goals, whether it's retirement or education.

• Tax advantages

• Helps you save for retirement

• Traditional IRAs

• Roth IRAs

• Coverdell Education Savings Account

• Skilled staff available to assist you when choosing an IRA