Baptist Hospital Credit Union Savings Page

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Share/Savings Account

A Share/Savings account is opened when you join the Credit Union. Your savings represent your share of ownership in the Credit Union. Your account must have a $50 balance to maintain your membership. Dividends (interest) are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. Dividends are paid on March 31, June 30, Sept 30 and Dec. 31 and are shown on your quarterly statement. Dividends are not paid on account balances below $100.00 or on accounts which are closed.

Payroll Deduction - *Sign Up Today!

The most effective way to save money is through payroll deduction. This way, money is sent by your participating employer directly to the Baptist Hospital Credit Union, and these funds may be deposited to the Share/Savings, Christmas Club, Money Market, Share Draft/Checking or Individual Retirement Accounts. Payroll deduction can also be used for repayment of loans. You may sign up for payroll deduction when joining the Credit Union, and deduction amounts can be changed at any time through the Credit Union office.

Share/Savings Withdrawals

Withdrawals can be made from your account during office hours or 24 hours a day at an Automated Teller Machine bearing the Money Pass^sm, MoneyBelt^sm, Pulse^® or Plus^® logos.
Share/Savings accounts maintaining $500 have unlimited withdrawal privileges.
Share/Savings accounts not maintaining $500 have 2 free withdrawals made in the office
There is no charge for withdrawals made at the credit union's ATMs located in the cafeteria of the central building, and at the 20th Avenue Food Court and at St. Thomas Hospital Credit Union owned ATM's located on the campus at St. Thomas Hospital. At other ATM locations, no fee for first two transactions* each month. Thereafter, $1.00 each. There is no surcharge for withdrawals made at the Money Pass Network.

*Transactions include withdrawals, inquiries and transfers.

Christmas Club Accounts

Accounts for Christmas Club savings may be opened at any time. This account earns dividends quarterly on a minimum balance of $50.00, and you may withdraw twice from this account during October through December. A charge of $5 will be assessed for each withdrawal made prior to October and for more than two withdrawals made between October and December.

Money Market Accounts

Money Market accounts are opened and maintained with a minimum of $500. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day and is paid monthly. Dividends are not paid on closed accounts or on accounts not maintaining $500. There are unlimited withdrawals and the account has no maturity date. Deposits may be made at any time. Contact the Baptist Hospital Credit Union for current rates.

Automated Teller Machines

Baptist Hospital Credit Union members can, without charge, access funds in their Share/Savings, Money Market, and Share Draft/Checking accounts 24-hours a day by using the Credit Union's two Automated Teller Machines. The ATM located in the cafeteria of the Central Building may be used to withdraw, transfer, inquire balances, or receive line of credit loan advances. The ATM located next to the 20th Avenue Food Court may be used to inquire balances, transfer funds, and withdraw funds at this location. ATM's owned by St. Thomas Hospital Credit Union located on the campus at St. Thomas Hospital may also be used without charge. You may inquire balances, transfer and withdraw funds.

All other ATM's may be used. Please check the fee/charges pages for limitations. There is no surcharge for withdrawals made at the Money Pass Network.

Plus

Term Certificates

A Term Certificate requires a minimum deposit for a specified term. Interest is paid at maturity or can be paid monthly by depositing in a Share/Savings, Money Market, or Share Draft/Checking account. Interest rates are based on local market conditions. Early withdrawals will incur a penalty, and this penalty is stated on the disclosure when the account is opened. Contact the office for minimums, terms, and rates.

TRADITIONAL - IRAs - * Open an Account Today!

The Traditional Individual Retirement Account (IRA) is a retirement savings account that allows you to deposit a portion of your income for retirement. You can contribute up to $3,000 annually or 100 percent of your yearly earnings, whichever is less. All or part of your contribution may be tax deductible, and earnings on the IRA are tax deferred until withdrawn.

ROTH - IRAs - * Open an Account Today!

The Roth IRA is an additional type of retirement savings account. Total combined contributions to Roth and Traditional IRA's or both for a given year cannot exceed your annual compensation or $3,000 per year, whichever is less. Contributions are not deductible, but you may withdraw tax and penalty-free the contributions you have made at any time. Earnings are tax-free if the account has been opened for five years and you are over the age 59½, disabled, or buying a first home.

EDUCATION - Coverdell Savings Account - * Open an Account Today!

Parents and other interested persons may be able to establish this IRA for a child under the age of 18. Contributions to the account will not be tax deductible, but the earnings will be tax free if used for qualified education expenses. Contributions are limited to $2,000 each year on the child's behalf.

Individual Retirement Accounts - INVESTMENTS

The Baptist Hospital Credit Union has an accumulated savings account for each of the 3 IRA types. These accounts can accept payroll deduction contributions or lump sum contributions. Interest is paid quarterly on a minimum balance of $100.00. For a minimum balance of $3,000, Traditional and Roth IRA's may be invested in Term Certificates. Educational IRA's require a $2,000 minimum. Interest is paid at the certificate's maturity. Penalties are involved for early withdrawals.

Member's Financial Services Program

The Member's Financial Services Center offers a variety of insurance and investment programs to complement the savings program offered by the credit union. Our representative, Gary Stringfield, can give you information on the following services:

    • Money Management
    • Estate Planning
    • Insurance Planning
    • Investment Planning
    • Tax Planning
    • Business Planning
    • Retirement Planning
    • Education Planning

Gary Stringfield will work with you to create a personal financial blueprint you can follow to help achieve your financial objectives. This service is offered at no obligation and no charge. Call Chyrica at 371-3737 to set up an appointment with Gary.

*Securities sold through CUNA Brokerage Services, Inc., member NASD/SIPC, 2000 Heritage Way, Waverly, IA 50677. Insurance sold through licensed CUNA Mutual Life Company Representatives, and in New York, licensed insurance representatives of other companies. Similar products may be purchased from an agent or company of your choice. Not federally insured, may lose value, not underwritten by credit union. FR08970937INT.

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Your savings federally insured to at least $100,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.