Savings

Savings Account

Every member at Texell will have a savings account as their ownership in the Credit Union, and that ownership comes with great benefits! 

Features:

Details:

  • Monthly Service Fee: $0
  • Minimum to open: $5
  • Minimum to earn dividends: $100
  • Dividends Paid: Quarterly and deposited to account


Open an Account Emergency Savings Calculator


Money Market Account

Need to keep your funds accessible for emergencies but still want to earn higher dividends? Our Money Market account gives you that option.

Features:

Details:

  • Monthly Service Fee: $0
  • Minimum to open: $2,500
  • Minimum to earn dividends: $2,500
  • Dividends Paid: Monthly and deposited to account


Open an Account Save a Million Calculator


CDs - Term Share Certificates

Lock in for the best rate on the term you choose, from 6 months to 5 years. 

Features:

Details:

  • Monthly Service Fee: $0
  • Minimum to open: $1,000
  • Minimum to earn dividends: $1,000
  • Dividends Paid: Quarterly with options to deposit back to account or transfer to another Texell account
  • Accounts are subject to penalty for early withdrawal. Terms renew automatically.


Open an Account Certificate of Deposit Calculator Certificate Ladder Calculator


Health Savings Account

In today’s expensive healthcare environment, it is essential to manage costs. The United States Congress created tax-advantaged Health Savings Accounts (HSAs), which allow members with high-deductible insurance plans the ability to build savings for medical expenses for themselves and their families.

You can open a Health Savings Account at Texell if you:

  • Have a qualified high-deductible health plan (HDHP)
  • Do not have coverage under another health plan
  • Are not enrolled in Medicare
  • Are not a dependent on another individual’s tax return

How do I access my HSA?

  • Free VISA® debit card
  • Free Bill Pay
  • Free checks

What are the benefits?

  • Tax benefits – Deposits are tax-deductible and all interest accrued in your HSA account is tax-deferred. Plus, tax-free withdrawals if used for qualified medical expenses.
  • Portability – This account is portable if you change your job, become unemployed or change your medical coverage.
  • No use-it-or-lose-it rules – Your HSA account balance automatically rolls over from one year to the next.
  • No monthly fees – There are no monthly service, maintenance or minimum balance fees on your HSA.


HSA Savings Calculator HSA Contributions Calculator


Individual Retirement Accounts

An Individual Retirement Account (IRA) is a type of retirement plan that allows you to invest today for your future. Discover the variety of Traditional and Roth IRA investments available.

Roth IRA
  • Make your contributions by regular deposits, or however you choose
  • No set-up or maintenance fee
  • Fixed term investment of $1,000 or more
  • Roth IRA Term Share investment of $500 or more
  • Roth IRA Savings with minimum $5 deposit
  • Retirement planning option funded solely by after-tax contributions
  • Accumulate earnings tax free
  • Withdrawals are tax-free, as long as they meet certain qualifications – consult your tax advisor
Traditional IRA
  • Make your contributions by regular deposits, or however you choose
  • No set-up or maintenance fee
  • Fixed term investment of $1,000 or more
  • IRA Term Share investment of $500 or more
  • IRA Savings with minimum $5 deposit
  • Reduce your tax liability – consult your tax advisor
  • Insured separately up to $250,000 by NCUA


Traditional IRA Calculator Roth IRA Calculator


If you are an experienced saver or just starting, Texell Credit Union has a savings plan to help you meet your goals. Prepare for the future with investment accounts, pay for healthcare with the tax benefits of an HSA, earn high interest dividends with CDs that have some of the best rates in Bell or Williamson counties. Rest easy knowing NCUA and ESI insurance protect your hard-earned cash, emergency fund, or nest egg.