Deposits form the foundation of American Lake Credit Union. As our deposit base
grows, so does the strength of the Credit Union. Every deposit you make helps
maintain high-quality, low-cost services for all Credit Union members to enjoy.
Protecting your deposit is very important to us, that why they are insured
to $250,000 regardless of which account(s) you choose. The first $250,000 of
deposit, per owner, is insured by the National Credit Union Share Insurance Fund.
Deposits over $250,000 are insured for an additional $250,000, by the Excess
Share Insurance Company.
To become a member of the Credit Union you need only deposit and
maintain a minimum of $5 into your American Lake Credit Union
base share account. These share accounts earn dividends on
a monthly basis. Members can have as many share accounts
as they need. Because our share accounts are a savings account,
withdrawals are limited to six per month including transfers.
Certificates are a safe, easy way to save for the future - both
short and long term, but do not allow for withdrawals (without
penalties) before the maturity date which can range from a few
months to several years. Basic requirements for a certificate
- Minimum balance $500
- Terms from 3 months to 5 years
- Dividend rates vary and are subject to change
Before you invest elsewhere, call for our most current rates. Ask
about premium rates for larger balances.
The Planned Savings Account is a great way to save for any special
occasion or event. You choose your monthly deposit and account
goal. We will pay you a preferred dividend rate to encourage
you to save. Once you reach your goal, we'll transfer your total
(including dividends) to whatever savings or checking account
you choose or issue a check to you. The Holiday Savings Account
allows you to make regular deposits so when the holidays come
around you have the cash you need plus dividends - without payments
or interest on your credit card.
As an added incentive to achieve your goal, you will be charged
$5.00 each time you make a withdrawal prior to reaching your account
We offer a variety of IRAs, including the new Roth
IRA, Education IRA and Coverdell IRA. Some of the common benefits
of our IRA programs are:
- Low Annual Fee
- Earnings are tax-deferred
- Choice of IRA shares and IRA certificates