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Savings

Share Savings Account

A HomeTown Share Savings account establishes you as a member and part owner of our credit union. Your initial $10 deposit represents your share of the credit union. It also means that you get to enjoy all the benefits HomeTown Credit Union has to offer.  

  • Low rates on loans
  • Higher dividends on deposits
  • Free 24/7 access through Online & Mobile Banking, including Mobile Deposit
  • Free debit card
  • Voting privileges for the Board of Directors
  • Free member financial education seminars

Holiday Club

Being prepared for the holidays may be the best gift you could give yourself. With a Holiday Club savings account, you can put some money away throughout the year and when it’s time to start shopping, you’re ahead of the game.

  • Make unlimited deposits all year
  • Conveniently set up deductions from paychecks
  • Earn interest monthly
  • October 1st funds availability
  • Low $10 early withdrawal fee

PayMeFirst Account

A PayMeFirst account helps you conveniently put away money each month so you can start a saving habit that’ll really pay off. 

  • Requires an electronic deposit of at least $15 each month
  • Earn competitive dividends on balance
  • No withdrawal fee for balances over $500

WinCentive Account

Save money, win money with a WinCentive® Savings account. Commit to 12 months of savings and for every $25 saved*, you’ll be entered into state-wide cash prize drawings.

  • $5 minimum opening deposit
  • Prize drawings ranging from $100-$5,000
  • Free withdrawals during your 13th month of Savings

*Up to 4 entries per month.

Money Market Account

Keep a short-term savings plan with a Money Market Account. These accounts are perfect for when you need emergency funds on hand because your money stays liquid, letting you withdraw anytime without penalty.

  • Dividends are paid at a higher rate than a regular Share Savings Account
  • The higher the balance, the more you earn
  • 3 withdrawals per month
  • Unlimited deposits

View Money Market Rates

Share Certificates

Grow your money risk-free.

When you open a share certificate, you get a guaranteed return on your investment with competitive dividend rates. Whether it’s a large chunk you’re looking to invest, or a small nest egg— a share certificate is a secure way to financial success.

  • Fixed rates
  • Flexible terms from 6 months to 5 years
  • Higher rates on deposits $10,000 or more
  • Insured up to $250,000 by NCUA

View Share Certificate Rates

*2.00% APY special. APY = Annual Percentage Yield; $2500 minimum, requires a minimum of $2500 new money for a 24 month term. Dividends are compounded monthly. Annual Percentage Yield is effective as of 11/22/2019. Rate subject to change. Penalties for early withdrawal may apply. Fees could reduce earnings on the account. Credit Union membership is required. Insured by NCUA.

Individual Retirement Accounts

Achieve the ultimate goal of financial freedom—a comfortable retirement.

With an IRA, or Individual Retirement Account, from HomeTown Credit Union, we can provide you with the knowledge you need to make the right IRA choices for you.

What is an IRA?

An Individual Retirement Account is an investment account that lets you save money for retirement through yearly contributions while offering tax advantages. They’re also protected and insured up to $250,000 by NCUA.

What We Offer

Traditional IRA

Traditional IRAs are taxed at withdrawal, but allow tax deductions on the contributions you make. This type of IRA requires that you begin withdrawing funds at 70 ½ years of age.

Roth IRA

A Roth IRA allows you to enjoy tax-free growth over the years but provides no tax breaks on your contributions. Your contributions are also dependent on the modified adjusted gross income limits. However, Roth’s don’t have withdrawal age requirements.

Compare Them
IRA Basics Traditional IRA Roth IRA
Contributions Up to $6,000 per year. Up to $7,000 for age 50 and older. Up to $6,000 per year. Up to $7,000 for age 50 and older. *Subject to modified adjusted gross income limits.
Maximum Contributions age limit Age 70 ½ None
Taxation Earnings taxed at withdrawal. Contributions may be tax deductible. Check with a tax advisor. Contributions subject to taxation. Earnings grow tax-free.
Withdrawals Optional beginning at age 59 ½. Mandatory at age 70 ½. Optional beginning at age 59 ½. No mandatory withdrawal age.
Early Withdrawal Penalties apply; exceptions exist for the first time home purchase, higher education expenses, or if disabled. Consult a tax advisor for details.

Coverdell Education Savings Accounts

College is expensive—but you can be ready. A Coverdell Education Savings Account makes it easy to plan, through yearly contributions, for your child or grandchild’s future education expenses.

  • $2,000 yearly contribution maximum
  • Earns dividends based on tiered structure that are compounded monthly
  • Tax-free withdrawals
  • Tax-free growth
  • No penalties at withdrawal
  • Beneficiary must be 30 years or younger at withdrawal

Health Savings Account

A Health Savings Account, or HSA, helps you save smarter to pay for any expected and unexpected healthcare costs. You may even be able to deduct your contributions and defer tax account earnings*.

In addition, you enjoy:

  • Flexibility- contribute any time during the year
  • Convenience- HSA balance rolls over from year to year if you don’t use the funds
  • Portability- Your HSA travels with you wherever you go—even if you change jobs.
  • Easy access- Get a HSA debit card linked to your account to use at doctor’s offices and pharmacies
Limits & Contributions 2018 2019
High Deductible Limits Minimum annual deductible of $1,350 for single and $2,700 for family. Maximum annual out-of-pocket of $6,650 for single and $13,300 for family. Minimum annual deductible of $1,350 for single and $2,700 for family. Maximum annual out-of-pocket of $6,750 for single and $13,500 for family.
Allowable Contributions $3,450 for single coverage and $6,900 for family coverage. If you are 55 or older, you can make an additional "catch up" contribution of $1,000. $3,500 for single coverage and $7,000 for family coverage. If you are 55 or older, you can make an additional "catch up" contribution of $1,000.

Eligibility requirements:

  • 18 years or older
  • Must be enrolled in a high deductible health care plan (HDHP)
  • Not enrolled in Medicare
  • Not claimed as a dependent on someone’s tax return
  • Not covered by a non-HDHP that provides any benefit also covered by your HDHP.

*This information is not intended for tax advice. For tax-related questions, consult a tax professional.

Youth Accounts

HomeTown’s here to help you get them started off on the right financial foot.

We know how important it is to teach our youth the value of saving a dollar—and our youth accounts are designed for just that.

Kirby Kangaroo

A kid’s account that makes money fun! Kirby will show your kids saving tips and what it means to be responsible with money.

  • Perfect for kids 11 years or younger
  • Price incentives for every $25 saved
  • Birthday letter
  • Kirby activities like printables, jokes and more

Steps Accounts for Teens

When it’s time to grow out of the kid’s stuff, Steps Accounts is what’s next. This account introduces your teen to basic money management and teaches financial responsibility.

  • 6 month no-minimum Share Certificate
  • Cinch up Your Savings Share Certificate
  • Access Money Market Savings
  • Free checking account
  • ATM card

Credit Builder Loans

Credit Builder Loans are the perfect way to introduce financial responsibility through a loan payment. These loans are great ways to save up for a new phone, computer or even a down payment on a car.

  • No cosigner required
  • Borrow any amount from $500 to $3000
  • 12 month repayment term
  • Proceeds are frozen in a savings account and available to be accessed once the loan is paid in full

For more information on Youth Accounts, visit any branch to speak with a Credit Union Representative.