Save To Win CD

When you Save To Win, you not only get a chance at winning $5,000 each quarter, but you walk away with the deposits you made over the year – plus interest. A definite win-win situation!

Save To Win is a prize-linked savings product, which offers prize drawing entries monthly, quarterly and annually. Making a $25 monthly deposit made into your Save To Win certificate account enters you into Washington State prize drawings.

How does Save to Win work?

We’ve made it easy to Save To Win at Express CU. Here’s all you need to do:

1. Join Express CU today! If already a member call (206) 622-1850 to learn more.
2. Open a 12-month Save To Win share certificate with at least $25. This is your first entry into that month’s drawings as well as the grand prize drawings.
3. Make monthly deposits into the Save To Win share certificate during the 12 month certificate term. Every deposit of $25 or more is another entry to win, up to 10 prize entries a month.

Each participating member is limited to one (1) Qualifying Save To Win Share Certificate at one (1) participating credit union, with a minimum opening deposit of $25.

Individual Retirement Accounts (IRA)

Opening an Express CU Individual Retirement Account can help you save money during your working years to cover expenses when you retire. If you’re under 50, you can contribute up to $ 5,500 every year. If you’re 50 and over, you can contribute up to $ $6,500 every year.

You may be able to exclude your contributions from taxable income on your tax return depending on marital status, income and whether or not you or your spouse participates in an employer-sponsored retirement plan. This means that you would not pay taxes on the money until you withdraw it from your IRA. The tax deductible IRA contribution limit is indexed for inflation and may increase in future years.

Express CU does not provide tax guidance concerning a member’s individual circumstances. We provide our members with general information about IRA options at Express CU, but you should consult your tax advisor for assistance if you have questions about tax planning and IRAs.

Express CU offers several choices of Savings or CDs for IRAs. In addition to IRS requirements applicable to IRAs, all standard share account terms and conditions apply.

Traditional IRA

For a traditional IRA, the money you put into the account and the interest you earn may be tax-deferred, depending on your income and other factors. Mandatory distributions are required at age 70 1/2. You may be eligible to defer paying taxes on money you contribute to your IRA account until you withdraw funds for your retirement.

Roth IRA

With a Roth IRA, the money you contribute to your account is not tax-deductible, but the interest you earn is tax deferred. Roth IRAs have fewer restrictions than traditional IRAs concerning how and when money can be withdrawn. Unlike traditional IRAs, no minimum distribution is required when you turn 70 1/2. Speak with an Express CU service representative to learn more.

Educational IRA

An Educational IRA is an investment account that helps you save for your children’s education. As a parent or guardian, you can make contributions for a child under 18. Money contributed to the account is not tax-deductible, but the earnings on the account are deductible when used for qualified educational expenses. Come see us at Express CU if you are interested in opening an Educational IRA.

Single Deposit CD

Earn a higher rate of interest than on your regular savings account by opening a Certificate of Deposit with Express CU. CDs are an effective savings option for building financial security.

• An Express CD allows you to place funds that you don’t immediately need into an NCUA insured account.
• Open a CD account with $1,000 or more and choose how long you want your money to remain in the account – up to 36 months. The longer the term, the higher the rate of interest you earn.
• Interest rate stays fixed until the deposit matures – guaranteeing your interest even if market interest rates go down in the future.
• An interest forfeiture penalty is assessed if you withdraw your money prior to CD maturity.

Add To CD

With as little as $100 you can enjoy higher guaranteed interest rates. This special CD allows you to add money whenever you’d like throughout the term, up to $1,200!

• Open an Add To CD with $100 or more
• Your interest rate is guaranteed until the deposit matures – even if market rates go down in the future
• Select a 12 or 24 month term – the longer the term, the higher rate of interest you earn
• Set up regular automatic transfers to this account to help you reach your savings goals
• An interest forfeiture penalty is assessed if you withdraw your money prior to CD maturity