A Savings Account is your ticket to Ohio HealthCare FCU. As a member, the first $5.00 of your Savings Account holds your membership share, along with the right to vote in the democratic governance of the credit union. As long as you wish to remain a member, this $5.00 must remain in the account.

• Access your Ohio HealthCare Savings account via your ATM card, or manage it with Digital Banking

• Open your account with just $5.00 ($25.00 is required for online account opening)

• Earn dividends on balances of $250.00 or more

• Monthly service charge of $5.00 waived if you have direct deposit, an account balance above $250.00, an active checking account, or active loan product

• Dividends are calculated on the average daily balance and paid monthly

• Sign up for Direct Deposit
  

A Savings Club Account is a great way to save up for something special. Whether it's for a wedding, a down payment on a house, or a special gift for someone...whatever you need, the Savings Club Account is the place to save for it. Just tell us what name you'd like to give it! There's no minimum balance, and you can have up to 99 Savings Club Accounts under your primary account number.  Using direct deposit distributions from your paycheck or regular automatic transfers from your other accounts, you can save painlessly and effortlessly!

• Earn dividends on balances of $250.00 or more

• Customize the account name to organize your savings

• Use Direct Deposit distributions or automatic transfers in online banking to systematically add to your savings

• Dividends are calculated on the average daily balance and paid monthly

Don't fret this holiday season! With a Holiday Club Account, you save all year so the holidays can be pleasant and free of the stress that comes with finding the money for presents. A new Holiday Club Account can be opened at any time during the year.

• Using Direct Deposit distributions or automatic transfers in online banking, you can put part of each paycheck into your Holiday Club

• Dividends are calculated on the average daily balance and paid monthly

• Funds are transferred to your Primary Savings account on October 1

*Fees and restrictions may apply.

Save Bigger with a Money Market Account

A Money Market Account offers you the freedom to withdraw money when you need to AND earn a higher interest rate. Money Market Accounts are a perfect place to park some cash between long-term investments. It’s also a great place to hold your emergency cash fund.

• Open a Money Market with just $1,000.00

• The more you save, the more you earn - as your balance increases, so does your rate

• No monthly service fee

• Make up to four withdrawals or transfers to another credit union account per month

• Dividends are calculated on the Average Daily Balance and paid monthly

• Set up Direct Deposit

*Annual Percentage Yield. See rate sheet for details.

Save for your future.

Traditional IRA

With a Traditional IRA, your contribution is tax deferred, which means you won’t be taxed on it until you withdraw it from your account after retirement. At this time, you’ll likely be in a lower tax bracket so the tax bite shouldn’t hurt as much. There are a couple words of caution here; if you’re covered by a pension, 401K, SEP, KEOGH or other retirement plan at work, your contributions are not tax deductible. You can contribute up to $6,000.00 per person per year to a traditional IRA, or $7,000.00 if you’re over 50 years old. Check with a tax advisor about deductible amounts and future tax savings.

Roth IRA

You don’t receive a tax deduction on your Roth IRA contribution, but your money grows tax-free, which makes it a very attractive option. Making it even more attractive is the fact that you can open and contribute to a Roth IRA even if you are covered by a retirement plan at work (just make sure you fall within the income limits). This means you can use your Roth IRA to augment your employer-sponsored plan. You can contribute up to the current year limits set by the Internal Revenue per person per year, or $7,000.00 if you’re over the age of 50.

Coverdell Education Savings Account

This account was formerly known as an Education IRA. You can put away money here, up to $2,000.00 per year, and have the earnings grow tax-free so long as the proceeds are used to pay for qualifying educational expenses. What qualifies? Almost any educational cost, from private or parochial elementary through high school all the way through college expenses. With automatic distributions, you can make these contributions painlessly, without thinking about them.

IRAs at a glance

• Annual contribution limits may change, please check with our tax advisor for details

• “Catch-up” contributions for people age 50 and older offer an additional $1000.00 on the maximum Roth and Traditional IRA limits

• Makes it easier to consolidate assets in IRAs and employer-sponsored plans

• Offers a tax credit to low-and-middle-income people who make IRA contributions

Check with your CPA or tax advisor as to which IRA account best suits your needs and personal situation.

Please contact the credit union to learn more about IRA contributions.

*IRA Share Certificates subject to penalties upon early withdrawal. Please see our Truth in Savings Disclosure for details.