Savings Accounts

Regular Shares

A $5.00 minimum balance must be maintained at all times in a regular share (savings) account. This deposit, along with your completed application, opens the door to credit union membership. For those under the age of 18, a deposit of just $5.00 will open a membership account. The benefits of membership are yours for a lifetime, even if you move, change jobs, or retire.

Share Certificates (CDs)

Paradise Valley Federal Credit Union members interested in an investment account can take advantage of a variety of competitive-yield certificates. Generally, CDs earn you more than a regular savings account because you deposit a specified amount (referred to as “Share”) for an established period of time. Dividends earned are paid monthly.

PVFCU CDs can be tailored to fit your financial needs, with terms as short as six months or up to five years to lock in high earnings requiring a minimum Share of $2,500.

Investing in CDs is a safe, simple way to earn a competitive rate on your money.

Like all deposit accounts at PVFCU, CDs are insured by the National Credit Union Administration (NCUA) for up to $250,000.

IRAs

IRAs have recently gained popularity due to some new and exciting changes to the rules/requirements governing IRAs. PVFCU offers all types of IRA plans including the Traditional, Roth, and Educational IRA programs.

  • TRADITIONAL
    A Traditional IRA program is an account that allows you to defer taxes on your earnings until you withdraw the funds. Based on your personal tax situation, you may receive a tax deduction for this type of deposit. You must start withdrawing funds once you reach 70 ½.
  • ROTH
    This NEW IRA program is gaining popularity because the account allows all earnings to grow tax-free in this account, and there is no age that you must start distributions from this account. This IRA is not tax-deductible; however, it does offer some true advantages over a Traditional IRA program. The Roth IRA has no required distribution, so if you do not need the funds, you do not need to take any withdrawals from the program.
  • EDUCATIONAL IRA
    This IRA allows you to save for upcoming educational expenses for your children. The contribution is not tax-deductible. Instead, earnings grow tax-free and you pay no taxes or penalties on the money withdrawn to pay for qualified higher education expenses, such as tuition, and fees, before the child reaches age 30.
  • IRA SAVINGS ACCOUNTS

    Because these accounts have many different features and the deposits are based on your personal tax situation, please contact your consultant, accountant, or tax adviser before making any decisions.

    Dividends are compounded & credited quarterly with a dividend period of a calendar quarter.

    • Balance Method – Average Daily Balance
    • Minimum opening deposit is $50
    • Minimum balance to earn the stated APY is $100
    • Annual maintenance fee may apply; see fee schedule
    • IRA accounts are insured by NCUA