Municipal offers a variety of federally insured savings and investment accounts.
You can use a any or all
of these ways to save for a great vacation, make holiday shopping easy, build
an education fund, plan for your retirement, save for any other need, or earn
the additional income you need today.
At Woburn Municipal we
offer you the following savings & investment options:
Share Savings Accounts
a credit union member, your member-owner status is represented by the shares you
save at Woburn Municipal.
That's why we call your
savings account a Regular Share Savings Account. You must open this account with
an initial minimum deposit of $5.00, and maintain that balance to remain a member
in good standing.
All Credit Union Savings
Accounts and IRAs earn dividends when a minimum balance of $50.00 is maintained.
Share Accounts earn money from day-of-deposit to day-of-withdrawal. Dividends
are distributed quarterly. Your funds are insured by the NCUA. And you receive
the service you deserve.
You may open other Share
Accounts for specific savings purposes like education, taxes, vacations, or special
purchases. To open another Share Account for any purpose, visit
or contact us.
Individual Retirement Account makes a lot of sense when planning your retirement
or your investment future.
Your Social Security benefits
and pension are not intended to provide all of your retirement income. And planning
ahead to pay for an education, or to buy a house, or any future goal is always
Today's IRAs provide more
tax benefits and greater earnings than in previous years. You can choose from
taking advantage of yearly tax deductions now, or save your tax breaks for future
withdrawals. Dividends are distributed quarterly.
At Woburn Municipal FCU,
we offer Traditional IRAs and Roth IRAs. Call to discuss which option better suits
your needs. Maybe both!
Money Market Fund
you want high-interest savings and flexible, fixed term investing, our Money Market
Fund is a good choice for you.
This safe, federally insured
option offers the best of both savings accounts and fixed term investments by
paying the high interest rates of fixed term investments, while allowing you to
withdraw money as you need it.
Share Certificates (Certificates
Looking for higher earnings
on your savings?
Consider our Share Certificates
which are the same as Certificates of Deposit (CDs). They pay higher interest
rates because they are deposited for a fixed period of time. You can open a Share
Certificate with as little as $500.
Investment terms range
from 6 months to 3 years. The rate is fixed for the entire certificate term. Dividends
are calculated daily and compounded and credited to your account monthly or at
a specific time period.
On 6 month CDs, the dividend
is given at maturity. A substantial penalty will be imposed for a withdrawal on
any certificate prior to maturity.
Saving is easier when you
have a goal and purpose in mind. Having a defined timeframe helps you stick to
your savings budget.
You can open a Christmas,
Vacation, or All-Purpose Club account. Whichever account you choose you
still earn dividends. You can transfer
funds to your Club Account with direct-deposit payroll or benefit checks.
in or call your nearest location and start your Club Account today. Save with
a goal in mind, and watch your money grow!