Savings & Investments

Member Share Savings Accounts
Credit Union member-ownership is established when you open your Share Savings Account. It provides access to other services, including loans.

• One "share" of member-ownership … a low, $25 minimum balance… must remain on deposit to maintain membership.
  
• Regular Savings earn competitive dividends when an average daily minimum balance of $501 is maintained.
  
• Your  monthly account maintenance fee of $ 2 .00 (this works out to  less than 7 cents a day ) will be WAIVED if you maintain Direct Deposit , OR E-Statements, OR a combined  balance of $501 or more.*

• Make unlimited deposits whenever you wish.
  
• And… you'll enjoy the flexibility of making up to four (4) withdrawals and six (6) transfers per month. (A nominal fee applies to additional withdrawals. See our Fee Schedule for details.)
  

*Separate fees are NOT charged for each suffix. For example, with $300 in savings and $201 in checking, your combined balance would be $501 and there would be no monthly fee.  Add all suffixes (ie: checking, savings, IRA, certificates, Holiday savers, etc.) to determine combined balance. Members under 18, over 65 or with Direct Deposit OR E-Statements are exempt from the fee. (See the Schedule of Fees and Charges.)

Holiday Savers Account
To help you save for the holidays, Cal State L. A. Federal Credit Union offers a convenient Holiday Savers Account. It earns competitive dividends and can be opened any time during the year. To help you remain committed to saving, funds withdrawn prior to maturity will not earn dividends.

• $25 minimum opening deposit (and minimum balance to remain open).
• Earns competitive dividends on balances of $100 or more.
  
• Make unlimited deposits whenever you wish.
  
• Automatic deposits/transfers available for easier saving.
  
• Accounts mature on October 31st each year*, when savings and earned dividends are transferred to your Membership Share Account.
  
• For your convenience, you can restart your Holiday Savers Account for the following year just by making a deposit. (Automatic deposits will continue unless otherwise requested.)

* Withdrawals prior to the maturity date may be subject to a $5 fee

Click for Holiday Saver Application Link

Share Certificate Accounts
Invest with confidence with a higher-earning Share Certificate Account. Returning higher dividends in return for fixed investment terms, Share Certificates are a helpful option for nearly every saver. Savings and Certificate Rates.

• Terms vary… choose one that best fits your needs.
  
• Initial minimum deposits begin as low as $500.
  
• Tiered rates offer higher returns for larger deposits.
  
• Investor Savings Certificate offers flexible deposits… Open with a minimum of $500, then make required additional minimum monthly deposits of $50.
  
• Dividends are compounded and credited monthly.
  
• Withdrawals made prior to maturity are subject to an early-withdrawal penalty equal to three months of earned dividends.
  

Individual Retirement Accounts
The Credit Union offers both Traditional and ROTH IRAs for your retirement savings. For those who are eligible, these accounts represent a great way to save for retirement. Benefits include:

• No IRA maintenance fee to eat away your savings!
  
• Initial deposit as low as $100
  
• You can "pay yourself first" by using Payroll Deduction or
  scheduling automatic transfers from your credit union accounts.
  
• Unlike stock market accounts which may lose value, your Credit Union IRA is separately insured up to $100,000 per IRA by the NCUA, an agency of the federal government.
  
• Our tiered rates offer higher returns for larger deposits.
  
• Potential tax benefits
  

Please consult a tax advisor for more information, including your eligibility, contribution limits, and which IRAs are right for you.

The deadline to open or contribute to an IRA for each tax year is April 15 of the following calendar year. (Or the first business day after the 15th if it falls on a weekend.)

Rollover IRAs
Transfers from one IRA account to another, called "Rollovers," may be made once in any six-month period. IRA funds withdrawn from one account MUST be re-deposited into another IRA within 60 days, or an IRS penalty applies. Rollovers also may be conducted by sending funds electronically.
When you retire or change jobs, Rollover IRAs also may be used to receive the money you have accumulated in your employer's retirement or pension fund. Consult your financial counselor or tax advisor for details about Rollovers, or call the Credit Union if you wish to arrange this service.

Coverdell Education Savings Account
The Credit Union offers Coverdell Education Savings Accounts for your child's education. The benefits include:

• No Coverdell account maintenance fees
  
• Initial deposit as low as $100
  
• Unlike stock market accounts which may lose value, the Coverdell
  Account is insured up to $100,000 by the NCUA, an agency of the Federal Government.
  
• Our tiered rates offer higher returns for larger deposits.
  
• Potential tax benefits for qualified education expenses.
  

To open any Savings Account, stop by or call the Credit Union at (323) 505-2600.