Accounts

Savings Accounts

At T&I Credit Union, your savings account is more than just a place to store money. It’s your share in the credit union. We refer to our savings accounts as share accounts because upon opening an account with us, you become a shareholder of T&I Credit Union. This empowers our members to vote for board members. More importantly to have your voice heard when there is a suggestions or issue.

Regular Shares

• $5.00 Minimum balance.
• No statement fees (applies for paper and online statements)
• .10% APY
  • Minimum balance to begin earning dividend = $200
• Interest Compounded Quarterly
• Variety of Savings account options:
  • Christmas
  • Vacation
  • Other

Children’s Shares Account

• $5.00 Minimum balance
• No statement fees (applies for paper and online statements)
• .10% APY
  • No minimum balance to start earning dividends
• Interest Compounded Quarterly
• We will make the first $5.00 deposit to open a children’s savings account

You'll enjoy total liquidity of your savings at all times. Your savings are federally insured up to $250,000 by the NCUA, an agency of the U.S. Government. Rates subject to change without notice. Effective 01/03/2023 -03/31/2023.

Checking Accounts

Share Draft Account

We believe and practice offering the most consistent and beneficial experience. That means offering a quality service without charging more and not punishing you for how much money is in your account.

• $25.00 Minimum balance
• No direct deposit necessary
• No statement fees (applies for paper and online statements)
• Receive 25 free checks upon opening first checking account
• Free online banking & bill pay
• Free mobile banking & deposits
• Receive a higher interest rate on your checking account for using our products/services
• Earn uChoose Rewards points on your debit card

Checking Rewards

*Rates subject to change without notice. Effective 01/03/2023-03/31/2023.

Money Market Account

Don't get held back by other money markets that require you to have a small fortune just to earn some interest. At T&I Credit Union we're ready to help you start earning 1.50% (1.51% APY) interest on your money right away. Whether its $200 or $200,000, we're ready to get you on the fast track to earning more money!

• $25.00 Minimum balance
• $200.00 Minimum balance to begin earning interest
• No statement fees (applies for paper and online statements)
• Receive 25 free checks upon opening first checking account
• Four withdrawal transactions per month
  • Minimum of $250.00 withdrawal required

• Receive a higher interest rate, just for saving money!

_{*Dividends paid up to balances of $250,000. No interest over the maximum balance of $250,000. $5.00 fee per withdrawal after four withdrawals in a calendar month. Rates subject to change without notice. Effective 01/03/2023-03/31/2023.}

Business Accounts

Requirements:

• $25.00 to open the account
• Maintain a minimum balance of $200.00
  • $10.00 monthly service charge is assigned each month to an account that drops below the minimum balance

Benefits

• No other statement fees
• Unlimited deposits
• Unlimited check writing

Contact Us for More Information

IRA’s

Individual Retirement Accounts (IRAs) are an excellent savings tool to utilize when setting money aside for retirement. IRAs give you the advantage of compounding regularly and adding earnings to your investment to make it grow.

Individual Retirement Accounts (IRAs)

• $100 required balance.
• .75% APY
  • Minimum balance to begin earning dividend = $200

• Dividends will be calculated by the daily balance method which applies a daily periodic rate to the balance.

**Annual Percentage Yield.

T&I Credit Union offer three different IRA accounts to help you invest for your future. Look over the information and decide which one is best for you.

Traditional IRA

• Offer tax-deferred earnings, and the possibility for tax-deductible contributions.
• You can contribute to traditional IRAs if:
  • You earn compensation.
  • Will not reach the age of 70 ½ by the end of the year.
• For joint tax returns, you can treat your spouse’s compensation as your own (except your combine contributions cannot exceed your combined compensation).
• All traditional IRA are not taxed until they are withdrawn.
• The ability to defer taxes on the earnings and withdraw in a year when you may be in a lower tax bracket can mean more after-tax dollars for your retirement.

Roth IRA

• Individual retirement account created by the Taxpayer Relief Act of 1997.
• Contributions are never tax-deductible.
• Money in Roth IRA, including earnings, can be withdrawn tax-free
  • You must conform to the plan provisions to get this tax-free advantage.
  • You are eligible if:
    • You earn compensation.
    • Your income is less than limits set by congress.
• A single filer who has modified adjusted gross income (MAGI) up to $95,000 can make the full Roth IRA contributions for that year.
• Each spouse filing a joint federal income tax return showing a MAGI up to $150,000 can make the full Roth IRA contributions for that year.
  • Some people with higher MAGI may be able to make smaller contributions.

Coverdell Education IRA

It's never too early to start saving for your child's education - especially when your funds could be growing tax-free in an Education IRA (now known as the Coverdell Education Savings Account).

• Contributions to an Education IRA are never tax-deductible.
• Education IRA offers you the potential for tax-free withdrawals (Including earnings).
• Contributions can be made to a child’s Education IRA until he/she reaches the age of 18.
• Anyone who meets the income requirements can open and contribute to your child's Education IRA.
  • This includes:
    • Parents
    • Grandparents
    • Aunts and Uncles
    • Family friends
    • Anyone else who wants to pitch in to your child’s education fund.
• Withdrawals are tax-free if used for:
  • Tuition
  • Books
  • And other qualified higher-education expenses

If you would like more information regarding IRA accounts, contact T&I Credit Union and we will help you evaluate your options.

Contact Us for More Information

*Rates subject to change without notice. Effective 01/03/2023-03/31/2023.

CD’s

Looking to earn higher interest on your money than what you receive from checking and savings accounts? Buy a Certificate of Deposit (CD).

A CD is a great way to earn higher interest by taking advantage of a short-term investments.

Email Us To Open A CD

Minimum deposit and balance required. Effective 04/20/2023.
*Interest is credited back to regular share savings account every 182 days.

**If certificate is broken prior to maturity, interest rate reverts to 0.10% APY.
***Rates are subject to change without notice.

****Up to $100,000 per member number.