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Savings Accounts and Certificates.

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Savings accounts & certificates

Financial well-being starts with a Savings Account.

Whether you’re saving for a rainy day, a new home or your child’s college education, we can help you set and meet your savings goals. At TruStone Financial, we make it easy for you to keep more of your money. Plus, all of your savings are insured up to $250,000 by the National Credit Union Administration (NCUA).

Flexibility

Flexibility

Various accounts cater to your unique savings goals
Accessibility

Accessibility

Add and withdraw funds anytime using digital banking
Growth Opportunities

Growth Opportunities

Dividends compounded and paid monthly or quarterly
Easy to Open

Easy to Open

All it takes is $5 to become a member and start saving

Grow your funds steadily.

Primary Share

With a deposit of just $5, this account is not just your way into the credit union, it’s also the first step for anyone looking to start saving. It’s a great way to save for that family vacation or any big-ticket item you have on your wish list. You’ll earn dividends and receive a quarterly statement that outlines all of your activity.


Money Market

This account is for the serious saver and requires a minimum deposit of $2,500. With our Money Market account, you’ll get bigger dividends that grow as you continue to save.


Certificate

If you want a slightly bigger commitment than a traditional savings account, a certificate might be right for you. Certificates require that your money remain in the accounts for a certain period of time, but provide greater dividends. Dividends are compounded and credited at the end of each quarter and at maturity.


Individual Retirement Account (IRA)

To enjoy a comfortable retirement, it’s crucial you have enough income to cover your living expenses. Prepare for your golden years by opening an IRA. The two most common plans are Traditional IRAs and Roth IRAs. Each plan offers different tax advantages and benefits, and we offer savings accounts and certificates for both plans.

Traditional IRAs allow you to make tax-deductible contributions, and your taxes are deferred until you begin making withdrawals. With a Roth IRA, you make contributions with after-tax dollars and your withdrawals are potentially tax-free.1
 

1Consult your tax advisor to find out what tax benefits may be applicable to your situation.


 

Savings Accounts

Effective March 1, 2021 (rates subject to change)
Minimum Opening Deposit Dividend Rate Annual Percentage Yield (APY)*
Primary Share Savings $5 0.10% 0.10%
MoneyWise Primary Share (Youth) $5 0.30% 0.30%
Sub Share Savings $0 0.10% 0.10%

*APY: Annual Percentage Yield. Fees could reduce the earnings on the dividend bearing accounts.

DIVIDEND INFORMATION:
Balance computation method — Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Accrual of dividends on non-cash deposits — Dividends will begin to accrue on the business day you deposit non-cash items (e.g. checks) to your account. Nature of dividends — Dividends are paid from current income and available earnings, after required transfers to reserves at the end of the dividend period. Compounding and frequency - Dividends will be compounded monthly and credited to your account on every monthly statement or at the end of the calendar quarter. Effects of account closing — If you close your account before dividends are paid, you will receive the accrued dividends. These are prospective dividend rates and anticipated Annual Percentage Yields (APY) for the current dividend period and may change at any time without limitations as determined by the TruStone Board of Directors. To confirm the current rates, call 763.591.4949 or 800.343.8328

The minimum deposit to open a Primary Share and maintain membership is the purchase of a $5 share in TruStone Financial. For these account types, the dividend period is quarterly: for example, the first dividend period of the calendar year is January 1 through March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period: for example, March 31.

Money Market Accounts

Prospective for March 1, 2021 (rates subject to change)
Tier Minimum Opening Deposit Dividend Rate Annual Percentage Yield (APY)*
Money Market Tier I: $.01 to $9,999.99 $2,500 0.25% 0.25%
Tier II: $10,000 to $24,999.99 $2,500 0.30% 0.30%
Tier III: $25,000 to $49,999.99 $2,500 0.40% 0.40%
Tier IV: $50,000 to $99,999.99 $2,500 0.45% 0.45%
Tier V: $100,000 - $249,999.99 $2,500 0.55% 0.55%
Tier VI: $250,000+ $2,500 0.70% 0.70%
MoneyWise Money Market Tier I: $0 - $499.99 $500 0.30% 0.30%
Tier II: $500 - $9,999.99 $500 0.35% 0.35%
Tier III: $10,000 - $24,999.99 $500 0.45% 0.45%
Tier IV: $250,000+ $500 0.60% 0.60%

*APY: Annual Percentage Yield. Fees could reduce the earnings on the dividend bearing accounts.

DIVIDEND INFORMATION:
Balance computation method — Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Accrual of dividends on non-cash deposits — Dividends will begin to accrue on the business day you deposit non-cash items (e.g. checks) to your account. Nature of dividends — Dividends are paid from current income and available earnings, after required transfers to reserves at the end of the dividend period. Compounding and frequency - Dividends will be compounded monthly and credited to your account on every monthly statement or at the end of the calendar quarter. Effects of account closing — If you close your account before dividends are paid, you will receive the accrued dividends. These are prospective dividend rates and anticipated Annual Percentage Yields (APY) for the current dividend period and may change at any time without limitations as determined by the TruStone Board of Directors. To confirm the current rates, call 763.591.4949 or 800.343.8328

For these account types, the dividend period is monthly; for example, the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period: for example, January 31.


Savings Certificates

Effective March 1, 2021 (rates subject to change)
Dividend Rate Annual Percentage Yield (APY)*
3 month 0.30% 0.30%
6 month 0.45% 0.45%
12 month 0.70% 0.70%
24 month 0.85% 0.85%
36 month 1.00% 1.00%
60 month 1.24% 1.25%
48 month 1.05% 1.05%

*APY: Annual Percentage Yield. Fees could reduce the earnings on the dividend bearing accounts. TruStone Financial membership required.

CERTIFICATE INFORMATION: Minimum Balance - Minimum balance to open a certificate is $500. If you are under age 18, the minimum balance to open a 12 month MoneyWise Certificate is $25. Renewal Policy – Automatically renewable certificate accounts will have up to a 10-business-day grace period after the maturity date to withdraw or close the account. Accrued dividends will be paid during the 10-day grace period. For certificate accounts that do not automatically renew at maturity, dividends will no longer be paid. Early withdrawal penalties – Penalties may be imposed if you withdraw any of the principal in your account before the maturity date. The penalty will equal 90 days’ dividends on your account if the original term is one year or less. The penalty will equal 365 days’ dividends on your account if the original term is greater than one year. If a certificate is withdrawn within 6 calendar days after the account is opened, a penalty of at least 7 days’ dividends will be assessed. If the account is part of an IRA, see your plan disclosure for details on penalty exceptions.

DIVIDEND INFORMATION: Balance computation method – Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Accrual of dividends on non-cash deposits – Dividends will begin to accrue on the business day you deposit non-cash items (e.g. checks) to your account. Compounding and crediting frequency – Dividends will be compounded and credited at the end of the calendar quarter and on the maturity date of your certificate. On certificate terms of 12 months or longer, dividends can be paid out to you monthly or quarterly. Withdrawal of dividends prior to maturity – The APY assumes that dividends will remain in your account until maturity. A withdrawal will reduce earnings.

RATE INFORMATION: These are prospective dividend rates and anticipated Annual Percentage Yields (APY) for the current dividend period and may change at any time without limitations as determined by the TruStone Board of Directors. To confirm the current rates, call 763.591.4949 or 800.343.8328. The dividend rates on certificates will be in effect until the maturity date.


Traditional and Roth Individual Retirement Accounts (IRA)

Effective March 1, 2021 (rates subject to change)
Minimum Opening Deposit Dividend Rate Annual Percentage Yield (APY)*
None 0.40% 0.40%

*APY: Annual Percentage Yield. Fees could reduce the earnings on the dividend bearing accounts.

DIVIDEND INFORMATION: Balance computation method — Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Accrual of dividends on non-cash deposits — Dividends will begin to accrue on the business day you deposit non-cash items (e.g. checks) to your account. Nature of dividends — Dividends are paid from current income and available earnings, after required transfers to reserves at the end of the dividend period. Compounding and frequency - Dividends will be compounded monthly and credited to your account on every monthly statement or at the end of the calendar quarter. Effects of account closing — If you close your account before dividends are paid, you will receive the accrued dividends. These are prospective dividend rates and anticipated Annual Percentage Yields (APY) for the current dividend period and may change at any time without limitations as determined by the TruStone Board of Directors. To confirm the current rates, call 763.591.4949 or 800.343.8328

For these account types, the dividend period is quarterly: for example, the first dividend period of the calendar year is January 1 through March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period: for example, March 31.


Looking for a savings account for a child or teen?

Our MoneyWise accounts are made specially for members age 17 and under.

Learn about MoneyWise savings accounts

 

Get full details and disclosures for these deposit products.

Updated on December 2, 2021 10:03:09 AM EST
Thursday’s bond market has opened in negative territory, possibly influenced by strong stock gains. The Dow is currently up 464 points while the Nasdaq is up 137 points. The bond market is currently down 11/32 (1.43%), but a strong rally late yesterday should still allow this morning’s mortgage rates to be slightly lower than Wednesday’s early pricing. If you saw a large improvement yesterday before closing, you may see a slight increase this morning.

Yesterday’s afternoon release of the Federal Reserve's Beige Book didn’t show any surprises. In summary, it indicated modest to moderate economic growth throughout the Fed regions. There were reports of supply chain issues that likely restricted growth in many areas. Again, no surprise there. Bonds appear to have rallied around the time the book was released, but it is hard to justify that move being a result of the release itself.

Today’s only relevant economic data was last week’s unemployment figures that showed 222,000 new claims for unemployment benefits were filed last week. This was up from the previous week’s revised 194,000 and lower than the 250,000 that was expected. Rising claims is a sign of weakness in the employment sector, making the data bad news for bonds and mortgage rates.

Tomorrow has two economic reports set for release, one of which is highly influential to the financial and mortgage markets. The key release is November’s Employment report at 8:30 AM ET that contains many employment statistics and readings. Most watched are the unemployment rate, the number of new jobs added or lost during the month and average hourly earnings. Current forecasts show the unemployment rate to have slipped 0.1% to 4.5% while 535,000 new jobs were added back to the economy. The income reading is forecasted to show an increase of 0.4%. The ideal scenario for mortgage shoppers would be a higher unemployment rate, a much smaller increase in payrolls (or a decline) and no change in the earnings reading. That would likely cause bond prices to rise, pushing yields and mortgage rates noticeably lower tomorrow. However, stronger than expected readings may fuel bond selling that would lead to higher mortgage rates.

October's Factory Orders report will close out this week's calendar at 10:00 AM ET tomorrow morning. This Commerce Department report is similar to the Durable Goods Orders report that was released last week, except this one includes new orders for both durable and non-durable goods. It usually doesn't have a significant influence on bond trading since a good portion of the data has previously been made public. Analysts are expecting to see a 0.4% rise in new orders. Favorable news would be a weaker reading because it would signal softer than expected manufacturing sector activity. However, the Employment report will draw all the attention, limiting the importance of this one even more than usual.