St. Pius X Church Federal Credit Union

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St. Pius X Church Federal Credit Union
2998 Chili Ave,
Rochester, NY 14624
(585) 247-0724

Savings Products

Savings
Your savings at the Credit Union will often be referred to as "shares." The term "shares" defines your ownership role in the Credit Union. As a "shareholder" you are entitled to have a say in how the Credit Union is run.

Every quarter (January, April, July, October) you will receive an account statement. It will include your dividend which is posted on the first day of each quarter. This "dividend" is set by the Board of Directors at their monthly meeting. The current declared dividends are posted on the rate board in the Credit Union and in the quarterly newsletter.

The day-to-day savings program at the Credit Union features:

High dividend rates
Day-to-day availability of funds
Free life insurance on savings between $500 and $2,000
Deposit insurance up to $100,000 per account guaranteed by the National Credit Union Administration
Transfer capability to or from checking
Saving at your Credit Union is easier than at a bank. When you save in your share or savings account, you earn quarterly dividends. If you want money, you can withdraw it in person. If that's not convenient, you can ask the Credit Union to send you a check (which is always mailed out that same day). You can also transfer money from one account to another by phone, or with CU Connect. Simple as that!
Checking
As a member, you are eligible to open a dividend earning checking account. There are no monthly fees, no minimum balance and no per check charges associated with this account. Just ask a teller to complete an application card. Your checks will arrive by mail within 7 - 10 days.

As a share draft account holder, you may request an ATM card or Visa debit card. Your ATM card allows you 24 hour access, worldwide at ATMs displaying the Cirrus, Cartel and MoneyMaker logos.

Enjoy the added benefit of five (5) free withdrawals or inquiries per month at any ATM.

All transactions will be listed on your monthly statement.

Your Credit Union checking share draft account works like most other checking accounts. However, there are some real advantages:
Dividends are credited quarterly
No monthly service charge*
No minimum balance
Duplicate format checks
No per check charge
Itemized monthly statements
Automatic payroll deduction
Overdraft check protection
ATM debit card
*Other fees may apply

IRA
An IRA is a must for a better retirement. Your credit Union IRA is an open-ended savings account (no term commitment). These accounts have several excellent features:

Variable rate
For you and your spouse (even if he or she is not working)
Fully insured
Dividends are credited quarterly
Small administrative fees
Early withdrawals are subject to IRS penalties.

Money Market Accounts
A Money Market Account is a great way to save money, with a low $2,500 opening deposit. You get a lot of pluses with your Credit Union:

Deposit of $50,000 or more is required for the highest rate
Higher than bank or fund rates
No penalty charges for withdrawal
Insured up to $100,000
Three transactions per month
Monthly statements
Dividends are credited monthly
Savings Certificates
Our Share Certificates come in all sizes:

91 Day ($500 minimum dep.)
6 Month ($500 minimum dep.)
1 Year ($500 minimum dep.)
2 Year ($500 minimum dep.)
5 Year ($500 minimum dep.)
Rates are based on weekly changes in Treasury Bill auctions. History proves that your Credit Union has consistently paid higher Annual Percentage Yields over the last five years. There is a substantial penalty for early withdrawal from the principal of all certificates.