Whether saving for inventory, supplies, or other capital expenses, First Community FCU offers a variety of short and long term savings options for you to consider.
Business Savings
Start your savings plan with a Starter Savings/Share Account. This account initiates your membership with First Community Federal Credit Union, and features a low $5.00 opening deposit ($500 to earn stated dividend rate, compounded and paid quarterly).
Business Money Fund
Earn even greater returns when you open a Money Fund Savings Account. With a minimum balance of $2,000 to earn stated dividend rate (compounded and paid monthly), this account offers higher returns on tiered balances starting at $25,000. Our Money Fund Savings Account features unlimited deposits and up to six (6) withdrawals within a calendar month.
Special Goal Setter Club Accounts
Planning for a future business purchase and looking for a special savings option for realizing that goal? Open a special goal setter Club Account with no minimum balance and unlimited funds access. Dividends are compounded and paid quarterly on balances of $500 or greater.
SEP IRA’s
SEP (Simplified Employee Pension) IRAs are retirement plans through which employers can make contributions to the traditional IRAs of their eligible employees. SEP contributions, which have higher limits than regular IRA contributions, can be made once a SEP plan is established. For maximum flexibility, several contribution options are available to employers. Contact our IRA specialists at (269) 382-9845 for more information about how you and your employees could benefit by this type of program.
Certificates of Deposit
Pick your term, from 1-month to 60-months, to earn a higher yield on your deposit of $300 or more with our Certificates of Deposit. Dividends are paid monthly on terms up to 12-months and quarterly for those over 12-month in term. Jumbo CD rates available for amounts over $100,000. Note – certificates of deposit are subject to early withdrawal penalty.
Savings Bonds
We’re pleased to bring this important member service to you through Treasury Direct®, a division of
the United States Treasury. We can now service your Savings Bond needs in the following ways:
- Administer the purchase or redemption of your I, E and EE type Savings Bonds
- Provide resources to help you determine the value of your current Savings Bonds
- Convert paper Series, E, EE and I bonds to electronic securities through new online Treasury Direct Smart Exchange program
