Savings Accounts

When you open a Regular Share Account (savings account) with us, you become an owner of the Credit Union; this means that earnings are paid back to YOU in the forms of higher dividends and lower loan rates. We offer a variety of Share accounts, ranging from Club Accounts to IRAs (Individual Retirement Accounts) to Share Certificates! But what kind of account is right for you?

Regular Share Account

All North Franklin FCU membres must have a Regular Share Account. Regular Share Accounts earn dividends monthly with a balance in excess of $100.00. Loan payments may be transferred out of this account automatically on the last business day of the month.

Vacation Club

Want to save up for a vacation? How about some money for a rainy day? Get a Vacation Club Account! Make routine contributions throughout the year to save up for your next excursion. Vacation Club can be accessed anytime withdrawls.

Christmas Club

It's never too early to start saving up for Holiday Shopping! Account balances are dispersed in October.

Certificate of Deposit (CD)

CD's are a deposit that recieves Divident Payments monthly into a certificate. Our product offering includes 6, 12, 24, 36, and 60 month terms at competitive rates.

Busy Bee Savers

This is an entry level savings account for children under the age of thirteen. Busy Bee Accounts earn dividends monthly with a balance in excess of $50.00. GUARDIAN AND PARENTAL NOTICE: North Franklin Federal Credit Union does not collect, obtain, request, or use any information from children under the age of thirteen.

Share Draft Accounts

Share Draft Accounts are a a practical, affordable, and convenient way for members to shop, pay bills, and withdraw cash. Monthly statements are sent to members, and estatements are available.

Individual Retirement Accounts

Individual Retirement accounts are a great way to save for a more secure retirement. In most cases Social Security and pensions are not enough to maintain your current lifestyle. Wouldn't it be nice to know that you have the security of your own savings to use when you need it? At North Franklin Federal Credit Union, we offer Traditional IRA Accounts and Roth IRA Accounts.

Roth IRA

The Roth IRA is an account that features tax-free withdrawls for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, members who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA than from a Traditional IRA. Unlike the Traditional IRA, there is no requirement to begin taking distributions at age 72. This does not apply to individuals that turn 72 ½ in 2019.

Traditional IRA

The Traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions may be tax deductible in the year they are made.

Need more information? Feel free to pop in to grab our brochures and ask our dedicated team!