Savings

Overview

Whether it’s a life-long dream or a weekend getaway, we offer a variety of great savings options to help you get there. Your money is protected under our NCUA insurance guidelines. Our deposit accounts let you earn competitive interest rates while keeping your money totally liquid so you can get to it when you need it.


Rates

Savings Rates

Regular Share and Special Use Share Accounts

Account Type Rate APY
Regular Share and Special Use Share Accounts 0.10% 0.10%

Dividends on regular share accounts are calculated based on average daily balances of $100.00 or more.
Rates are variable and are declared quarterly based on available earnings. Rates declared 10/30/2016 for quarter end 9/30/2016.

Money Market Accounts

Account Balance Rate APY
$2,500.00 – $9,999.99 0.10% 0.10%
$10,000.00 – $19,999.99 0.15% 0.15%
$20,000.00 – $49,999.99 0.20% 0.20%
$50,000.00 – $999,999.99 0.30% 0.30%

Dividends on money market accounts are calculated on average daily balances of 2500.00 or more. Rates are variable and are declared monthly based on available earnings. A maximum of three (3) withdrawals are allowed per month. Each withdrawal after the third will include a $10 fee. A $10 fee will be assessed to balances that fall below $2500.00. Next rate period will end 10/31/2016.

Term Share Accounts

Minimum Balance Term Rate APY
$500.00 3 Months 0.15% 0.15%
6 Months 0.20% 0.20%
12 Months 0.35% 0.35%
18 Months 0.40% 0.40%
24 Months 0.50% 0.50%
$20,000.00 3 Months 0.20% 0.20%
6 Months 0.20% 0.20%
12 Months 0.40% 0.40%
18 Months 0.45% 0.45%
24 Months 0.55% 0.55%
$50,000.00 3 Months 0.20% 0.20%
6 Months 0.25% 0.25%
12 Months 0.40% 0.40%
18 Months 0.50% 0.50%
24 Months 0.55% 0.55%

The term share rates shown above are effective 02/25/2016. Term share accounts carry a penalty for early withdrawal.


FAQ

What type of savings accounts does Good Neighbors offer?

Share (Savings) Accounts
  • All members of the Good Neighbors Credit Union must deposit a $5.00 member share in a Share (Savings) Account. This $5.00 is your share in the credit union and gives you voting rights and allows you to run for our volunteer Board of Directors. That’s it! Once you are a member, you are eligible for all benefits and services offered by the Credit Union.
  • Dividends on regular share accounts are calculated based on average daily balances of $100.00 or more. Rates are variable and are declared quarterly based on available earnings.
Money Market Accounts
  • A Good Neighbors CU Money Market Account is the ideal tool for members who want to maximize the return on their investment and still have easy access to their funds.
  • Dividends on money market accounts are calculated on average daily balances of $2,500.00 or more. Rates are variable and are declared monthly based on available earnings. A maximum of three (3) withdrawals are allowed per month. Each withdrawal after the third will include a $10 fee. A $10 fee will be assessed to balances that fall below $2500.00.
Term Share Accounts
  • Term Share Accounts are the perfect way to save your money and earn a higher dividend rate at the same time. Certificates are available for terms of three months, up to two years. The minimum certificate amount is $500 and dividends compounded monthly. Deposits of $20,000 or more can earn a higher rate. Term share accounts carry a penalty for early withdrawal.
Star Savers Club
  • Opening a savings account with your child is one of the most effective ways to teach them about money. At Good Neighbors, any child (0-18 years old) can open a savings account and join our Star Savers Club! The goal of the “Star Savers Club” is for youth to develop money management skills and personal responsibility, all while discovering the benefits of saving!
  • Once they open an account, your child can make deposits into their very own savings account. They will receive a Star Saver pouch, along with kid-friendly deposit slips for each deposit they make, and a star sticker book. Participants will earn 1 sticker for every deposit they make, regardless of the amount.
  • Children who accumulate 20 stickers can trade them in for a prize! Any child who hands their stickers in will receive a new sticker book to start collecting again. Your child will also receive quarterly newsletters with fun financial activities and a birthday card each year just for being a Star Saver!

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