Personal Accounts Savings & Certificates
Coast Central offers savings accounts for many purposes – from holiday saving to short or long-term investments, we’ve got you covered! You can open as many sub-accounts as you like and label them differently as needed.
Please choose from the following options for more detailed information.
Following are some of our most popular savings accounts:
Every membership starts with a $50 Membership Savings account, which is what establishes your member-owner share in the credit union. This $50 stays in your account and makes you eligible for all the other great products and services Coast Central offers. You can also use this as your primary savings account, or open others if you’re seeking higher dividend rates or have multiple savings purposes.
This account is equivalent to the above Membership Savings account, and pays the same dividend rate. You can open as many of these for as many purposes as you like.
Comparable to a money market account, this account generally bears a higher dividend rate. There’s no fine print – these accounts are offered to encourage our members to save!
This account is intended for progressive saving throughout the year, usually for holiday shopping needs. In November, a check will be mailed to you for the balance (or if less than $25, the funds will be transferred to your Membership Savings account).
The following accounts are designed with specific members and circumstances in mind:
Non-Resident Member Savings
This is a non-interest bearing account for those who cannot earn interest on their funds due to residency status. It is opened as the equivalent of a Membership Savings, and must maintain at least $50 in the same way.
This non-interest bearing account can be opened in conjunction with a Membership Savings or a Non-Resident Member Savings account, for members who cannot earn interest on their funds (for any reason). There is no minimum balance.
Electronic Transfer Account (ETA) Savings
If you’re ineligible to open a Membership Savings, the U.S. Treasury may authorize you to open this special type of savings account. Like a Membership Savings, $50 is held here to establish membership, but an additional account is opened specifically for direct deposit (and withdrawal) of Treasury funds.
If you’re looking to learn the highest dividend rate possible and are able to keep your funds in one place for a period of time, savings certificates are a great way to maximize your return. With a minimum opening deposit of only $500, you can lock in your funds at much higher rates than a savings account for up to five years. If you’re looking for a shorter time commitment, you can open certificates of $10,000 or more with terms as short as 90 days.
Coast Central offers additional investment account types (including retirement and health/education savings accounts), as well as financial advising/planning services. Please see our Investments & Insurance section for further information.