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Savings


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Primary Share Savings Account

Your Credit Union share of ownership equals $25 and must be maintained in your share (or savings) account for the life of your membership. In addition, you may use this share account as your traditional savings account. All memberships are insured up to $250,000 by the NCUA share fund.

Learn more about the Credit Union difference

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Special Purpose or Club Accounts

Special Purpose Savings Accounts (Club Accounts) are a convenient way to set aside funds for budgeted items—such as property taxes, holidays, or fuel. Members may add regularly to these accounts through automated deductions or one lump sum, allowing you to watch your savings grow as you budget for long-term or short-term goals. There are no minimum balance requirements or deposits required on these accounts. They can be linked to a savings goal within eBranch, HFCU's online banking platform—making meeting your financial goals even more manageable.

open a Special Purpose Savings Account  View Share Savings & Special Purpose Savings dividend Rates

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Money Market Share Accounts

Money Market Share Accounts (MMSA) are tiered savings vehicles that can offer higher rates of return. These accounts provide various features and benefits, including:

  • A tiered dividend rate structure that pays higher rates for higher balances 1 .
  • Checkbook to pay vendors without needing to transfer funds from a share account to a share draft account first.
  • No monthly service charge.
  • NCUA insurance protection up to $250,000.

MMSAs require a minimum deposit of $1,000 to open.

Apply for a Money Market Savings Account View Money MarkeT Savings Account Dividend Rates

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Health Savings Accounts

Health Savings Accounts (HSAs) are tax-friendly savings accounts that allow you to build a fund for future medical expenses. You can open an HSA if you have a qualified high-deductible health plan. If you don't use all the money in your account by December 31, any remaining balance will roll into next year's HSA. Health Savings Accounts must be opened by the primary account holder at least 18.

Other Benefits:

  • Use any excess funds to supplement your retirement savings.
  • You will save money through lower premiums and tax breaks.
  • Money deposited into your account may be used to pay your deductible or other out-of-pocket medical expenses.
  • HSA funds can be used for the entire family's qualified medical expenses 2 .
  • An employer or member can make contributions 3 .
  • Spouses can inherit the account without tax consequences.
  • You keep your account even if you change jobs, plans, or retire.

View HSA Dividend rates

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Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRAs) were created to offer people a way to save for retirement and take advantage of certain tax benefits.

There are a variety of types of IRA accounts that members may choose to open:

• Traditional
• Roth
• Education (Coverdell)

Although you can't deduct your entire IRA contribution on your income taxes, the dividends earned in this account are deferred until withdrawn. You can make small payroll deductions each week, which will build up to large amounts of money over time. Starting your retirement savings early can help you avoid straining your cash flow when taxes are due. Check with your tax preparer or adviser for more information about possible tax benefits.

You can invest in an IRA Payroll Account or an IRA Term Share Certificate. With a payroll account, you can have your savings withdrawn from your paycheck and deposited directly into the retirement fund; it’s that easy!

VIEW IRA DIVIDEND RATES

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Term Share Certificates (CDs)

Term Share Certificates, or CDs, are a form of investment where your deposits earn higher dividend rates than traditional deposit accounts. Terms are available to meet your individual needs. Certificates may be opened at any time.

Apply for a Term Share Certificate 
View Term Share Certificate Dividend Rates

Hit Your Savings Target. Earn 5.00% APY* on a 6 month Term Share Certificate. Image of arrows hitting a bullseye

6-MONTH TERM SHARE CERTIFICATE

HFCU is here to help you maximize your savings and secure your financial future.

Earn 5.00% APY 4 ON A 6 MONTH CERTIFICATE

Existing members may visit your local branch, call 888.252.8932, or open a certificate with a live video branch agent!

Apply for a Term Share Certificate Online

Disclosures

1 Member must maintain a minimum balance of $1,000 in MMSA each day to obtain the disclosed Annual Percentage Yield (APY). If the balance falls below $1,000, the account will not earn dividends that day.

2 For more information, including a complete list of IRS-allowable qualified medical expenses, please visit the “Forms and Publications” page on the IRS website at www.irs.gov; or call 1.800.829.3676 and request a copy of IRS Publication 502. For more detailed information on Health Savings Accounts, you can also view IRS Publication 969 “Health Savings Accounts and Other Tax-Favored Health Plans." Exceptions may apply for some insurance premiums that cannot be paid for by HSA funds even though they are listed in the IRS Publication 502. Over-the-counter medications are not listed but are included under allowable qualified medical expenses for HSAs. Please consult your tax advisor regarding the deductibility of expenses.

3 Annual contribution limits apply.

4 * APY= Annual Percentage Yield. Six (6) month term. Rate subject to change without notice. Penalties may be imposed for early withdrawal. You have a grace period of ten (10) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. For all certificate accounts, the amount of the early withdrawal penalty is based on the term of your account. Fees may reduce earnings. For all accounts, your account will automatically renew for another term upon maturity. You must notify us in writing before, or within the 10-day grace period after, the maturity date, if you do not want the account to automatically renew. If you do not notify us, the renewal term will be the same as the original term, beginning on the maturity date (unless we notify you, in writing, before a maturity date, of a different term for renewal). The minimum starting deposit for all Term Share Certificates Accounts is $1,000. Federally insured by NCUA.