A $5.00 deposit into an account makes you eligible to receive all the great services and rates that are available. Savings accounts are insured by NCUA up to $250,000. Savings accounts require $5.00 to become a member – $15.00 to receive interest. Interest is accrued daily and posted monthly. A savings account at CONE opens the door to many financial services and allows you to become a part owner of your credit union. Each account has one voting share at the annual meeting which allows every member to have an equal say in what happens at CONE Credit Union.
Our two types of savings accounts are our regular savings and our sub share savings account. For both of these we currently are paying a rate of 0.20% yielding 0.20% for balances between $15.00 up to $5,000.00. Over $5,000 has a rate of 0.25% yielding 0.25%. Our members use their sub shares typically for items such as vacations, property taxes, weddings, home purchases and other things they are planning for but don’t want to have these funds mixed with their day-to-day savings.
Plan for holiday expenses by putting money away all year long. For October 2018 – October 2019, the rate will be 0.25%. We post the dividends and disburse the Christmas Clubs on October 14, 2019. Members are allowed to withdraw from their Christmas Clubs, however they do forfeit the interest accrued on that amount up to the date of withdrawal. Members can either have a check sent to them or have the money transferred to any of their accounts.** All rates subject to change daily **
CONE Credit Union has available to its members who are 18 years or older an excellent checking account in addition to the many great services we offer. For those members who are younger than 18, you must have a parent or legal guardian as cosigner on this account.
Share Certificates have higher rates of return than an ordinary savings account. Open a Share Certificate with as little as $500. You can choose certificate terms starting at six months. You’ll get a great rate guaranteed for the term of the Share Certificate of Deposit. Enjoy the benefits of higher returns while having the security of knowing your account is fully insured up to *$250,000 by NCUA. Share Certificates are time deposits, and the penalty for early withdrawal is 90 days interest.
Money Market Accounts
CONE’s Standard Money Market earns higher dividends than a regular Share Account if a balance of $2,500 is maintained. Our Premium Money Market account earns even higher dividends as long as you maintain an active Checking Account and a $2,500 balance. See us for further details about Money Market Accounts.