Savings & Investments
Share Savings Account
Becoming a member of DayMet Credit Union is ownership and you benefit by its successful operation. All members are required to open a Share Savings account and maintain a minimum balance of $5.
It is never too early or too late to save! You and your family’s future depends on what you invest now. Start saving today and DayMet can help.
Money Market Accounts are for members interested in a savings strategy that is more aggressive than share savings or certificate accounts. There is a minimum balance for a Money Market Account (please inquire). Accounts with higher minimum balances receive higher dividends.
Advantages include maximum flexibility, higher earnings, pays dividends weekly at a higher rate.
Share Certificates offer a safe and flexible savings option that generally offers better rates than a savings account.
Like all savings accounts at DayMet Credit Union, certificates are insured by American Share Insurance.
Certificates are more liquid than some other forms of investment. Since they require a relatively small upfront amount, you can open a number of certificates with different term limits (six months, one year, etc.) to ensure that you always have money readily available. You can also use a short-term certificate to save money for future large purchases like a down payment on a house or a new car. Money in a certificate is available for early withdrawal in case of emergencies (penalties do apply).
The return on certificates generally yield better rates than savings accounts, with long-term certificates and higher investments yielding better returns than short-term and smaller-amount certificates.
A sound financial strategy includes “laddering” certificates to maximize return while allowing flexibility. This means that you invest savings in different terms, and continue to renew certificates as they mature. This allows you to maximize returns while keeping a specific amount of savings available via the short-term certificates.
Traditional and Roth IRAs
If you are thinking about setting up an IRA for your retirement, you’ve come to the right place. DayMet Credit Union offers both Roth IRAs and Traditional IRAs to our members.
- Contributions may be tax deductible
- Deposits are insured up to $250,000 by American Share Insurance
- Interest may also be tax deductible
- Your earnings grow tax-deferred
- Contributions can be withdrawn with no tax penalty or liability
- Qualified contributions may never be taxed
With a Christmas Club Account you can start saving immediately, earning a dividend rate on a low minimum balance. Direct Deposit is a great way to build your Christmas Club account automatically and save all year round. On October 1st the money transfers into the members share savings account and is available for their Holiday spending.
There is no early withdrawal from the Christmas Club accounts; If a member takes advances from their Christmas Club account prior to October 1st, the account is automatically closed. Just think how much you can save for Christmas by depositing a little at a time and how much you can enjoy the Holidays by spending money you have instead of running up expensive credit cards. It really pays to plan ahead with a Christmas Club account.
A Vacation Club Account is a smart way to save for a great getaway! Deposit a little bit all year and when you are ready to pack your bags, you’ll have a nice cache of cash! Sign up for automatic deposits and you\’ll never even miss the regular deposits.
Simply the safest and most convenient way to deposit your payroll check, social security, or pension checks into your DayMet account.
Have a portion of your deposit(s) transferred to your DayMet account(s).
Automatic Payment Transfer
Make loan payments automatically. It saves time!