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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)
Account 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)
Term 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 May 24, 2024 10:08:47 AM EDT
Friday’s bond market has opened relatively calm as traders appear ready to coast into the holiday weekend. Stocks are showing gains of 47 points in the Dow and 79 points in the Nasdaq. The bond market is currently up 1/32 (4.47%), but weakness late yesterday is going to cause this morning’s mortgage rates to be approximately .125 of a discount point higher than Thursday’s early pricing. If you saw an intraday change yesterday afternoon, you will likely see no change this morning.

April’s Durable Goods Orders report that was released at 8:30 AM ET indicated stronger than expected manufacturing activity. It revealed a 0.7% rise in news orders for big-ticket products such as airplanes, appliances, and electronics. Analysts were expecting to see a decline in new orders. This data is known to be quite volatile from month to month, so the variance between forecasts and the actual number isn’t nearly as meaningful as it would have been if it came in many other reports. That said, even secondary readings within today’s report that are believed to be more stable also came in above forecasts. These point towards manufacturing sector growth, making the data bad news for bonds and mortgage rates.

Concluding this week’s data was May’s revised Index of Consumer Sentiment from the University of Michigan at 10:00 ET. They announced a reading of 69.1 that was higher than the 67.4 from two weeks ago, meaning surveyed consumers were a little more optimistic about their own financial situations than earlier in the month. This is technically bad news for rates because rising sentiment usually translates into stronger consumer spending that fuels economic growth. Fortunately, a secondary reading in the release that tracks feelings about inflation was a tad lower than predicted, helping to offset the negative headlines in this morning’s data.

Keep in mind that the bond market is closing at 2:00 PM ET today as part of Monday’s Memorial Day holiday recognition. Stocks are set to trade for a full day today but will also be closed Monday. Don’t be surprised to see a bit of pressure in bonds later today as traders look to protect themselves over the three-plus day weekend.

Next week has a fairly full calendar with at least one event scheduled each trading day that has the potential to affect mortgage rates. It begins Tuesday with a consumer confidence reading and ends Friday with the report that includes the Fed’s preferred inflation reading. In between, we will get an updated Gross Domestic Product (GDP) reading for the first quarter, the Fed Beige Book and a couple of Treasury auctions. Look for details on all of next week’s activities in Sunday evening’s weekly preview.