Savings
Savings
From multi-year investments to this year’s holiday plans, we’d love to help you save.
When you become a member a savings account is opened in your name. An initial deposit of $5 is required. All members must maintain a $5 balance in their savings account to remain a member and demonstrate regular activity in their account to keep it open.
Other features include:
- Dividends paid monthly on average daily balance of $25.00 or more.
- Access through Online Account Login, our 24-hour online banking system, and Call24, our telephone banking system.
- Direct deposit or payroll deduction available.
- Monthly statements by mail.
Kasasa® accounts are not only free — they earn cash rewards! By meeting just a few simple qualifications you can earn the highest rate on your Kasasa Saver balance.
At Gulf Coast Federal Credit Union, you can open a Club account and save for whatever special purpose you have, such as:
- Christmas Club
- Vacation Club
Features of our Christmas Club Account
- 24 hour account access via Online Account Login, our online banking system and Call24, our telephone banking system
- You may start an account anytime during the year
- $10.00 initial minimum deposit required
- Payroll deduction
- Direct Deposit
- $500.00 maximum deposit per month
- A competitive dividend rate paid monthly
- Quarterly statement furnished
- Penalty assessed for early withdrawal
- Funds will be deposited directly into your Share Account (savings) the first week of November. Save now for a happier Christmas!
Features of our Vacation Club Account
- 24 hour account access via Online Account Login, our online banking system and Call24, our telephone banking system
- You may start an account anytime during the year
- $10.00 initial minimum deposit required.
- Payroll deduction
- Direct Deposit
- $500.00 maximum deposit per month
- A competitive dividend rate paid monthly
- Penalty assessed for early withdrawal
- Funds will be deposited into your Share Account (savings) the first week of June
You can open a Term Share Certificate with a minimum balance of $500. Certificates are available with terms of 6 months to 36 months. We also offer IRA Term Share Certificates, which require a minimum opening balance of $500.
Features of our Term Share Certificates:
- 24 hour account access via Online Account Login, our online banking system and Call24, our telephone banking system
- Terms available for 6, 12, 18, 24, or 36 months
- A competitive dividend rate paid monthly
- Penalty assessed for early withdrawal
Features of our IRA Term Share Certificates:
- 24 hour account access via Online Account Login, our online banking system and Call24, our telephone banking system
- Terms available for 12, 24, or 36 months
- A competitive dividend rate paid monthly
- Penalty assessed for early withdrawal
You can open a Gulf Coast Federal Credit Union Money Market Account with a minimum deposit of $10,000. A minimum average daily balance of $10,000 also is required to obtain Annual Percentage Yield and to avoid fees on your account.
Other features include:
- Dividends paid monthly on average daily balance of $25.00 or more. You may withdraw funds at anytime without penalty or loss of dividends earned. If balance drops below $10,000 the account reverts to a regular share rate
- Rates increase at higher plateaus ($10,000.00, $50,000.00, $100,000.00)
- No more than six(6) transfers and/or withdrawals in any month. Exceeding this limit will result in a $25 fee and subject to account closure
- Access through Online Account Login, our 24-hour online banking system and Call24, our telephone banking system
- Direct deposit or payroll deduction available
No matter what stage you’re at in life, saving now with an Individual Retirement Account (IRA) can better prepare you for the future. Gulf Coast FCU offers IRA savings (share) accounts and IRA Term Share Certificates.
You can open an IRA savings (share) account with $100.00 or an IRA Term Share Certificate with a minimum balance of $500. IRA Term Share Certificates are available with terms of 12, 24 or 36 months.
No matter what stage you’re at in life, saving now with an Individual Retirement Account (IRA) can better prepare you for the future. Gulf Coast FCU offers IRA savings (share) accounts and IRA Term Share Certificates.
Please feel free to review the following brochures for more information on IRA options:
If you have any other questions about regular savings accounts at Gulf Coast Federal Credit Union, please contact us.
Savings Rates.
Federal Insurance
The National Credit Union Administration (NCUA) provides insurance coverage of up to $250,000 for your credit union account(s). To learn more about the type of accounts and the total amounts that the NCUA may insure, click the following link that will take you directly to the NCUA: http://www.ncua.gov/DataApps/Pages/SI-Tools.aspx.
Notice of Changes in Temporary NCUA Insurance Coverage for Transaction Accounts
All funds in a “noninterest-bearing transaction account” are insured in full by the National Credit Union Administration through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA’s general share insurance rules. The term “noninterest-bearing transaction account” includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal (“NOW”) account, money market deposit account, or Interest on Lawyers Trust Account (“IOLTA”), even if share drafts may be drawn on the account. For more information about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.
