Savings

All ULFCU Savings Accounts include:

  • No monthly service fees

  • Payroll deduction

  • Electronic Deposits or Recurring Transfers

  • Online Banking

  • Free Mobile App with Remote Check Deposit

  • Electronic Statements

Free access to more than 5,000 CO-OP Shared Branches

Must qualify for ULFCU membership. All accounts are subject to approval. Accounts are subject to all terms and conditions set forth in the Account Agreement and Truth-In-Savings Disclosure. See Membership for details. Federally Insured by NCUA up to $250,000.

The savings account needed to begin your ULFCU membership.

Benefits:

  • $5 opening deposit

  •  $5 one-time membership fee (stays on hold in the account for the lifetime of the membership)

  • No monthly service fee

  •  $5 minimum balance to maintain account

  • Withdraw for free up to twice a month

  • Earns dividends

When you open a Cypress Rewards Cash Checking Account, you have the option to open a Cypress Saver Account which earns higher dividends.

Benefits:

  • Rewards earned from your Cypress Rewards Cash Checking Account are swept automatically into this savings account.

  • No monthly service fee

  • $5 minimum balance to maintain account

  • Withdraw for free up to twice a month

  • Earns higher dividends than the Share Savings Account

Earn higher returns on larger savings balances.

Benefits:

  •  $2,500 minimum balance to open

  •  No monthly service fee

  • $2,500 minimum balance to maintain account

  • Earns higher dividends

Save all year for your holiday spending. Account balance is automatically deposited into your Regular Share Savings Account on October 1 annually.

Benefits:

  • $5 opening deposit

  • No monthly service fee

  •  $5 minimum balance to maintain

  • Earns dividends

  • Early withdrawal fee

Save for your vacations now so you aren’t paying for the fun later.

  • $5 opening deposit

  •  No monthly service fee

  • $5 minimum balance to maintain

  • Earns dividends

  • No withdrawal limits

A Coverdell Education Savings Account (CESA) provides a dedicated place to grow savings for children.

  • Deposit up to $2,000 per year for each child under 18

  • Withdraw money without an IRS penalty as long as it is used for higher education

  • Qualified withdrawals are tax-free since deposits are made after taxes

  • Money must be withdrawn by the time the child reaches age 30 (late withdrawal penalty may apply)

  • Learn more about a CESA at www.irs.gov

  • Saving Account and Savings Certificate options available

  • Minimum of $25 to open an Coverdell Education Savings Account

  • Minimum of $500 to open an Coverdell Education Savings Certificate Account with a term from 6 months to 5 years

  • No minimum balance

  • No monthly service fees

This information is not intended to provide tax advice. See a competent tax advisor to help you determine which type of Coverdell Education Savings Account best suits your needs.