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Savings, Certificate of Deposits & IRA

Savings, Certificate of Deposits & IRA

Saving is the keystone of any long-term financial plan, and credit unions like Compass CCU often offer better rates on Savings Accounts, Certificates of Deposit, and IRA Certificates of Deposit.

If you’re wondering, “Is there a credit union near me?”, the answer is “Yes.” Compass Community Credit Union is headquartered in Eureka, and we offer everything from traditional savings accounts to online banking!

Savings Account

Compass CCU’s primary share (savings) account pays higher dividends than similar accounts offered by other financial institutions. Dividends are earned from the day of deposit to the day of withdrawal and are compounded daily and paid quarterly. A Share Savings Account is required for membership with a minimum balance of $5.

You can also open additional savings accounts and put money away for Christmas, vacations, or that big purchase you’ve been planning. Let one of our helpful representatives point you toward the accounts that are right for you.

Share Certificate of Deposit (CD)

Have funds you don’t immediately need? Invest them in a Share Certificate of Deposit (CD) and enjoy a greater return. Fixed rates are guaranteed for the length of the term. Choose terms from 6 to 60 months.

IRA Certificate of Deposit (CD)

We offer both Traditional and Roth IRAs (Individual Retirement Account) to help you save for the future. Our IRA Certificate of Deposit (CD) requires only a minimum deposit of $500. Choose terms from 6 to 60 months. Dividends are compounded daily and paid quarterly. A Compass CCU representative can help guide you to the type of IRA that best suits your needs.

Traditional IRA

  • Contributions may be deductible on state and federal income tax*
  • Contribute up to $5,500 annually; age 50 and older can contribute up to $6,500
  • Early withdrawals subject to penalty**
  • Withdrawals can begin at age 59½ without penalty
  • Mandatory withdrawals at age 70½

Roth IRA

  • Contributions are NOT tax deductible
  • Contribute up to $5,500 annually; age 50 and older can contribute up to $6,500
  • After five years, earnings are 100% tax free at withdrawal – Over the age of 59½. Under 59½ an early withdraw penalty applies.
  • Early withdrawals subject to penalty**
  • No mandatory distribution age – You can withdraw from a ROTH at any time, penalties and fees may apply. There is no mandate that says you ever have to withdraw from a ROTH IRA.
*Subject to some minimal conditions. Consult a tax adviser.  
Interest and IRS penalties - Certain exceptions apply, such as healthcare, purchasing first home, etc. Investments 12 months or less have a penalty of 90 days.  Investments greater than 12 months have a penalty of 180 days.

 

Opening an IRA and Roth IRA Certificate of Deposit is more involved than opening a regular Certificate of Deposit and requires additional paperwork. Call 800-440-8662 for more information and to speak with a specialist.

For current members, opening a Share Savings Account or a Share Certificate of Deposit is easy. All you have to do is fill out the Account Agreement. You can type in your information online and print it out, or print out a blank form and fill it in manually. Note that you are not able to save the agreement online, so make sure you print the form after you complete it. You can then mail it in or stop by a branch and hand it to us personally.

Not a member yet? It’s still easy. Just complete the Membership Application. Include a $5 minimum deposit to open your Savings Account (required for membership). And be sure to include a copy of a current government-issued picture ID for each signer. You can mail your deposit and copy of ID with the form(s) or stop by a branch — one of our representatives will be happy to guide you.

As with the Account Agreement, you are not able to save the application so make sure you print it out.

⇒ Ready to Open Your Account?

View Rates

View Savings Calculators

Savings, Certificate of Deposits & IRA

Saving is the keystone of any long-term financial plan, and credit unions like Compass CCU often offer better rates on Savings Accounts, Certificates of Deposit, and IRA Certificates of Deposit.

If you’re wondering, “Is there a credit union near me?”, the answer is “Yes.” Compass Community Credit Union is headquartered in Eureka, and we offer everything from traditional savings accounts to online banking!

Savings Account

Compass CCU’s primary share (savings) account pays higher dividends than similar accounts offered by other financial institutions. Dividends are earned from the day of deposit to the day of withdrawal and are compounded daily and paid quarterly. A Share Savings Account is required for membership with a minimum balance of $5.

You can also open additional savings accounts and put money away for Christmas, vacations, or that big purchase you’ve been planning. Let one of our helpful representatives point you toward the accounts that are right for you.

Share Certificate of Deposit (CD)

Have funds you don’t immediately need? Invest them in a Share Certificate of Deposit (CD) and enjoy a greater return. Fixed rates are guaranteed for the length of the term. Choose terms from 6 to 60 months.

IRA Certificate of Deposit (CD)

We offer both Traditional and Roth IRAs (Individual Retirement Account) to help you save for the future. Our IRA Certificate of Deposit (CD) requires only a minimum deposit of $500. Choose terms from 6 to 60 months. Dividends are compounded daily and paid quarterly. A Compass CCU representative can help guide you to the type of IRA that best suits your needs.

Traditional IRA

  • Contributions may be deductible on state and federal income tax*
  • Contribute up to $5,500 annually; age 50 and older can contribute up to $6,500
  • Early withdrawals subject to penalty**
  • Withdrawals can begin at age 59½ without penalty
  • Mandatory withdrawals at age 70½

Roth IRA

  • Contributions are NOT tax deductible
  • Contribute up to $5,500 annually; age 50 and older can contribute up to $6,500
  • After five years, earnings are 100% tax free at withdrawal – Over the age of 59½. Under 59½ an early withdraw penalty applies.
  • Early withdrawals subject to penalty**
  • No mandatory distribution age – You can withdraw from a ROTH at any time, penalties and fees may apply. There is no mandate that says you ever have to withdraw from a ROTH IRA.
*Subject to some minimal conditions. Consult a tax adviser.  
Interest and IRS penalties - Certain exceptions apply, such as healthcare, purchasing first home, etc. Investments 12 months or less have a penalty of 90 days.  Investments greater than 12 months have a penalty of 180 days.

 

Opening an IRA and Roth IRA Certificate of Deposit is more involved than opening a regular Certificate of Deposit and requires additional paperwork. Call 800-440-8662 for more information and to speak with a specialist.

For current members, opening a Share Savings Account or a Share Certificate of Deposit is easy. All you have to do is fill out the Account Agreement. You can type in your information online and print it out, or print out a blank form and fill it in manually. Note that you are not able to save the agreement online, so make sure you print the form after you complete it. You can then mail it in or stop by a branch and hand it to us personally.

Not a member yet? It’s still easy. Just complete the Membership Application. Include a $5 minimum deposit to open your Savings Account (required for membership). And be sure to include a copy of a current government-issued picture ID for each signer. You can mail your deposit and copy of ID with the form(s) or stop by a branch — one of our representatives will be happy to guide you.

As with the Account Agreement, you are not able to save the application so make sure you print it out.

⇒ Ready to Open Your Account?

View Rates

View Savings Calculators

Compass Community Credit Union

PO Box 1268
Eureka, CA 95502-1268

707-443-8662
800-440-8662

NMLS #423538

CSFECU Top 200

Federally Insured by NCUA

If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 1-800-440-8662 for assistance.

Compass Community Credit Union

PO Box 1268
Eureka, CA 95502-1268

707-443-8662
800-440-8662

NMLS #423538

CSFECU Top 200

Federally Insured by NCUA

If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 1-800-440-8662 for assistance.