The New Horizons Federal Credit Union offers several savings accounts to provide members with flexibility in savings and immediate free access to their funds. Our primary goal is to pay a competitive dividend on savings accounts and share certificates while insuring that your funds are handled safely and securely at all times. Savings are insured up to a minimum of $250,000 by the National Credit Union Administration’s Share Insurance Fund.
Regular Share Savings
To maintain your active membership in TNHFCU, a member must maintain a minimum balance of $5 in their Regular Share Account. This minimum deposit requirement, while yours to take if you leave the credit union, allows you to participate fully in all credit union programs and products and serves as the beginning of your savings experience with the credit union. The Board of Directors declares dividend rates to be paid on Share Accounts each quarter based on the Credit Union’s earnings. Our rates are very competitive. Dividends are paid on the first penny of your savings.
Christmas Club Account Savings
Is trying to save money for Christmas challenge? The New Horizons Federal Credit Union offers a Christmas Club savings opportunity that cannot be surpassed anywhere in the US. Currently this Super Christmas Club account is paying a super interest rate of 7% APY on your deposits. Deposits are limited and other restrictions apply. See your credit union representative to learn more about this great savings opportunity. It’s simple and easy way to save with deposits transferred to your checking account automatically in November. (There is a $10 withdrawal fee for any funds taken out prior to November.) A Super Christmas Club saving account is the best way Santa knows to guarantee that you have a MERRY CHRISTMAS every year!
A regular checking account gives you immediate access to your deposits either by check or free debit/ATM card. A small one-time maintenance charge is assessed if the account balance falls below $300 during a calendar month. (See our Fee Schedule.) Otherwise the account is free to use with unlimited check writing and debit card usage. (For your protection debit card usage has a daily limit. ATM charges may apply if your card is used at an ATM outside our network.)
We recognize the many contributions our senior members have made to the success of New Horizons. As a small benefit to their membership, seniors, 65 and older, may use a checking account absolutely free of service charges regardless of the balance. Overdraft fees will apply.
Certificate Savings Accounts
Share certificates are available at competitive interest rates starting at $1,000. Certificate rates are tiered and may remain on deposit for up to 60 months. Certificates are great interest earning accounts for excess cash saving or future planned spending. You decide the timing of your withdrawal based on the interest earned. (There is a small penalty for early withdrawals.)