Earn competitive dividend rates on share certificates (subject to prevailing rates at the time of issuance). Terms range from 6 to 60 months and all share certificates have a low $1,000 * minimum deposit requirement. There is a penalty for early withdrawal.
Money Market Accounts
Our tiered-rate Money Market account is a great way to earn higher dividends on large savings balances.
Our Money Market account pays day-in, day-out dividends based on current money market rates. A balance of $2,500 or more is required to earn dividends. This tiered-rate account pays dividends based on the balance in your account. The higher your Money Market account balance, the higher the dividend rate you’ll earn on your savings.Some transaction limitations may apply for TVFCU savings and investment accounts.
* $2,500 minimum balance is required to earn dividends on Money Market Accounts.
|Less than $10,000||0.05%||0.05%|
|$10,000 – $24,999||0.10%||0.10%|
|$25,000 – $49,999||0.15%||0.15%|
|$50,000 – $99.999||0.20%||0.20%|
|$100,000 or more||0.25%||0.25%|
Traditional, Roth & Education IRAs
Make the most of your retirement investment. Take advantage of tax-free and tax-deferred savings with Credit Union Individual Retirement Accounts (IRAs). We offer Traditional, Roth and Education IRAs.
Traditional: This IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which you make them.
- To be eligible to establish a Traditional IRA you must be younger than the age 70 ½ and you or your spouse must have compensation.
Roth: This IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reason after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a Traditional.
- To be eligible to establish a Roth IRA you must have compensation and you modified adjusted gross income (MAGI) does not exceed certain prescribed limits.
CESA (Education IRA): This IRA is setup for the benefit of a minor beneficiary. The custodian makes the contributions on behalf of the child, but the funds are distributed tax-free only for the child’s education expenses.
- To be eligible to contribute to a CESA your modified adjusted gross income (MAGI) must not exceed certain limits.
Please check with a Member Service Representative for specific information including rates, legal requirements and tax liabilities.
Some transaction limitations may apply for TVFCU savings and investment accounts.
IRA Variable Rates
|Less than $10,000||0.10%||0.10%|
|$10,000 – $24,999||0.20%||0.20%|
|$25,000 – $49,999||0.35%||0.35%|
|$50,000 – $99,999||0.50%||0.50%|
|$100,000 or more||0.65%||0.65%|
Health Savings Account (HSA)
With a Health Savings Account (HSA), you can save for future medical expenses and earn dividends, while enjoying income tax savings!
There are no “use it or lose it” rules for HSAs. Funds remain in the account from year to year just like an IRA, and you can keep your HSA even if you change jobs or change your health insurance.
Features of our Health Savings Account (HSA)
- Low $3.00 monthly service charge
- FREE Tennessee Valley HSA VISA Debit card
- FREE Online24 Bill Pay
- FREE starter checks
- Earns a competitive rate of return.
You are eligible to have an HSA if you:
- are covered by a “high-deductible health plan” (HDHP)
- are not covered by any other medical insurance
- are not enrolled in Medicare
- cannot be claimed as a dependent on someone else’s tax return