Savings
Whether you are an experienced saver or just starting out, 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, or earn high interest dividends with CDs that have some of the best rates around. Rest easy knowing NCUA and ESI insurance protect your hard-earned cash, emergency fund, or nest egg.
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:
- Competitive dividend rates
- Free e-Branch Home Banking
- Free Mobile Banking with Mobile Deposit
- e-Statements
- Account alerts through e-Branch
- Account insured up to $500,000
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:
- Competitive dividend rates
- Free e-Branch Home Banking
- Free Mobile Banking with Mobile Deposit
- e-Statements
- Account alerts through e-Branch
- Account insured up to $500,000
Details:
- Monthly Service Fee: $0
- Minimum to open: $2,500
- Minimum to earn dividends: $2,500
- Dividends Paid: Monthly and deposited to account
| Balance Tier | Prospective Annual Percentage Yield | Minimum to Open | Minimum Daily Balance to Earn Dividends1 | Minimum to Avoid Service Charge2 |
|---|---|---|---|---|
| Under $2,500 | 0.00% | $2,500 | $2,500 | $0 |
| $2,500 to $9,999.99 | 0.20% | $2,500 | $2,500 | $0 |
| $10,000 to $24,999.99 | 0.25% | $2,500 | $10,000 | $0 |
| $25,000 to $49,999.99 | 0.30% | $2,500 | $25,000 |
$0 |
| $50,000 to $99,999.99 | 0.35% | $2,500 | $50,000 | $0 |
| $100,000 to $149,999.99 | 0.40% | $2,500 | $100,000 | $0 |
| $150,000 to $249,999.99 | 0.40% | $2,500 | $150,000 | $0 |
| $250,000+ | 0.40% | $2,500 | $250,000 | $0 |
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:
- Competitive dividend rates
- Free e-Branch Home Banking
- Free Mobile Banking with Mobile Deposit
- e-Statements
- Account alerts through e-Branch
- Account insured up to $500,000
- Fixed rate for a specified term
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.
| Term | Prospective Annual Percentage Yield | Minimum to Open | Minimum Daily Balance to Earn Dividends1 | Minimum to Avoid Service Charge2 |
|---|---|---|---|---|
| 6-month | 0.30% | $1,000 | $1,000 | $0 |
| 12-month | 0.55% |
$1,000 | $1,000 | $0 |
| 24-month | 0.75% | $1,000 | $1,000 | $0 |
| 36-month | 0.80% | $1,000 | $1,000 | $0 |
| 48-month | 0.95% | $1,000 | $1,000 | $0 |
| 60-month | 1.05% | $1,000 | $1,000 | $0 |
Bump Rate Certificates
| Term | Prospective Annual Percentage Yield | Minimum to Open | Minimum Daily Balance to Earn Dividends1 | Minimum to Avoid Service Charge2 |
|---|---|---|---|---|
| 48-month | 0.85% | $1,000 | $1,000 | $0 |
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.
| Account Type | Prospective Annual Percentage Yield | Minimum to Open | Minimum Daily Balance to Earn Dividends1 | Minimum to Avoid Service Charge2 |
|---|---|---|---|---|
| Single HSA | 1.50% | $5 | $500 | $0 |
| Family HSA | 1.50% | $5 | $500 | $0 |
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
| Account Type | Prospective Annual Percentage Yield | Minimum to Open | Minimum Daily Balance to Earn Dividends1 |
Minimum to Avoid Service Charge2 |
|---|---|---|---|---|
| IRA Savings | 0.20% | $5 | $100 | $0 |
Traditional IRA Calculator Roth IRA Calculator
1 You must maintain the disclosed minimum daily balance in your Account to obtain the disclosed Annual Percentage Yield. You will not earn dividends on any day your Account balance is below the required minimum daily balance.
2 You must maintain the disclosed minimum daily balance in your Account to avoid a Service Charge. If during any month your Account balance is below the required minimum, your Account will be subject to a Below Minimum Balance Service Charge for that month as set forth in the Fee Schedule.