Savings Account
This is the initial account you open to become a member.  An initial deposit of $5.00 is all you will need to give you access to all of our products and services.

Money Market Account
A money market account offers the best of both savings accounts and fixed investments by paying high dividends but allowing a limited number of withdrawals per month. Our money market account is structured in tiers that provide room for growth. Dividend earnings increase with each level. Investments start at $2,500. Money market accounts are easily accessible and secure.

Certificates
Earn higher-yielding dividends with certificates. Invest as little as $500 and choose from a variety of terms. It's a convenient, safe way to maximize your savings.

Step-Up Certificates
A flexible way to save. The PFCU step-up certificates are for 24 or 60 months and they allow you to increase your rate once during its term. So, if rates increase, step-up certificates will help your money earn more. PFCU offers step-up IRA term certificates with the same feature to move the rate up once during its term too.

IRA ACCOUNTS (Individual Retirement Account)
An IRA is very important because Social Security and Pension Benefits are not intended to provide all of your retirement income. We offer several types of IRAs to satisfy your individual needs.

Traditional IRA - A simple way to save for retirement. The traditional IRA is a tax-deferred savings account. This means that the earnings generated by a traditional IRA are free of income tax until the funds are withdrawn. Additionally, contributions into a traditional IRA may be tax deductible.

Roth IRA - Unlike a traditional IRA, where your earnings are tax deferred, the earnings from a Roth IRA can be tax free. Deposits into a Roth IRA are non-deductible and qualify for distributions if funds in your Roth have met a five-year holding period and the distribution is made for one of the following reasons: (1) you have reached age 59, (2) you have become disabled, (3) you are a first time home buyer, or (4) upon your death.

Roth vs. Traditional IRA Calculator

Coverdell Education Savings Account - A great opportunity to save for higher education costs, since all dividends earned and withdrawals can be taken tax free (age restrictions apply on withdrawals).

Consult your tax advisor for IRA contribution limits, deductibility, and more information on qualified withdrawals or contact us for an informative brochure. Once you've determined which IRA is best for you, visit PFCU. We have IRAs to suit your needs.

Commencing on April 1, 2006 the share insurance coverage provided by the National Credit Union Administration (NCUA) through the National Credit Union Share Insrance Fund (NCUSIF) will now insure your Palisades Federal Credit Union IRA and Roth account(s) up to an aggregate amount of $250K.