Your initial deposit of $25 in your share savings account is your minimum opening balance to join Duke Credit Union. Once you've established your share savings account you are welcome to explore additional products and services offered by the Credit Union.
Share Savings1
FEATURES
- ATM Card
- $25 minimum balance²
- 24/7 online account access
- Dividends are calculated daily and posted quarterly
- May be used as overdraft protection
- The National Credit Union Administration (NCUA) insures cumulative deposits up to $250,000
Share Certificates
FEATURES
- $500 minimum balance
- Choose your term (6-36 months)
- Higher interest rate on a term that fits your needs.
Money Market
FEATURES
- $500 minimum balance
- No fees
- Can be used as overdraft protection
- Make regular deposits via payroll deduction
Holiday Club³
FEATURES
- No minimum balance
- No monthly service fee
- Deposits through payroll deduction
- Funds cannot be accessed via ATM, preventing spur of the moment withdrawals
- $5 Fee accessed for each withdrawal
- Automatically renewed October 1 (unless closed early)
Rainy Day Savings
FEATURES
- No minimum balance
- No monthly service fee
- Deposits through payroll deduction
- $25 Withdrawal fee*
Savings Bonds
Electronic Purchase Only
Effective January 1, 2012 paper savings bonds are no longer sold at financial institutions.
Purchase online:
Already have paper savings bonds?
Traditional IRA Savings
FEATURES
- Allows you to save for retirement
- Earnings are tax-deferred until they are withdrawn. Must be age 59 1/2 in order to avoid early withdrawal penalty
- Funds can be held longer and earn more money
- Withdrawals / distributions are taxed as income in the year withdrawn
Roth IRA Certificate
FEATURES
- Allows you to save for retirement
- Post tax contribution, accounts grow tax-free
- Withdrawals are tax-free if made for a qualified reason, after the account has been open for at least 5 years and one of the below requirements is met
-Retirement (age 59 1/2)
-First time home purchase
-Death or disability
Coverdell Education Savings Account (ESA)
(previously Education IRA)
FEATURES
- Open for any child under the age of 18 to fund his/her education
- $2,000 may be contributed per year
- Withdrawals from the account are tax-free if used to pay for primary, secondary, or post-secondary education expenses
Share Savings
Your membership begins with a minimum deposit of $25 in a Share Savings account. Access your account 24/7 on the mobile app, online, or by phone.
Share Certificates
Share Certificates offer you a guaranteed interest rate on a select term. Deposit a minimum of $500. Select your term. During that period you will earn the indicated interest.
| 6-12 month term | ||
| 13-24 month term | ||
| 25-36 month term |
Early withdrawals are subject to loss of dividends up to 90 days.
Money Market
A Money Market account offers a higher interest rate than a regular share savings. The account can be opened with $500. You can enjoy a higher interest rate as long as you keep a minimum of $500 in the account. Make deposits via payroll deduction, access your account via your ATM/Debit Card. No fees.
Holiday Club
The Holiday Club Account may be the perfect way for you to save for your holiday expenses. Save systematically and painlessly through payroll deduction or other regular deposits. A club account can be opened at any time. Funds are transferred into your share savings account during the first week in October, allowing you plenty of time to shop for gifts or plan a vacation.
Rainy Day Savings
The Rainy Day Savings Account may be the perfect way for you to save for an emergency. Save systematically and painlessly through payroll deduction or other regular deposits.
*Unauthorized withdrawals on a Rainy Day Share account are subject to loss of dividends up to 90 days.
Savings Bonds
Existing paper bonds are still valid and will earn interest for 30 years from the issue date or until redeemed. You can continue to cash savings bonds at Duke University Federal Credit Union.
Open a free TreasuryDirect account today! www.treasurydirect.gov
You can safely and securely:
- Buy, manage and redeem electronic savings bonds
- Convert paper savings bonds to electronic
- Purchase electronic savings bonds as gifts
- Purchase other Treasury securities, including bills, notes, bonds and TIPS (Treasury Inflation Protected Securities)
- and more!
Traditional IRA Savings
IRAs are savings accounts designed to help you save for retirement or education. Because IRA earnings are sheltered from taxes*, IRAs grow faster than ordinary savings accounts.
At the age of 70 1/2, you must begin receiving distributions. These distributions give a steady income to add to Social Security or other retirement benefits.
Duke Credit Union offers three (3) different IRAs to meet the individual needs of its members.
- IRA Share Savings Account
- IRA Certificate Account
- Education Savings Account
*Consult your tax advisor for consequences
Roth IRA Certificate
To qualify to open a Roth IRA there are some restrictions, including salary caps for a single filer up to $95,000 (phase out to $110,000) and on a joint tax return up to $150,000 (phase out to $160,000).
Duke Credit Union offers (3) different IRAs to meet the individual needs of its members.
- IRA Share Savings Account
- IRA Certificate Account
- Education Savings Account
Education Savings Account
Education Savings Accounts have a maximum contribution of $2000 a year, with a maximum salary of $190,000 (phase out to $220,000) on a joint return or $95,000 (phase out to $110,000) on a single return to qualify for a full contribution.
IRAs are savings accounts designed to help you save for retirement or education. Because IRA earnings are sheltered from taxes*, IRAs grow faster than ordinary savings accounts. Duke Credit Union offers three (3) different IRAs to meet the individual needs of its members.
- IRA Share Savings Account
- IRA Certificate Account
- Education Savings Account
*Consult your tax advisor for consequences
1 One-time $5.00 membership fee required at account opening
2 To avoid the $3 monthly fee you must meet one of these qualifications – have a loan, direct deposit, $100 in average compensating balances in savings or be under the age of 25
3 A $5 fee will be assessed for each early withdrawal prior to October of each year