Savings Accounts
Competitive interest rates and personalized service to help you grow your money securely.
Save with Austin FCU
Whether you’re saving for today or preparing for tomorrow, we have just what you need.
Savings (Share) Account
Earn dividends with a basic savings account.
- Free, simple savings account
- Your ticket to Austin FCU membership
- Get started with just a $5 deposit
- Earn dividends on balances $100 to $100,000
- Free e-statements*
- Surcharge-free ATM access with the Alliance of Austin Credit Unions ATM network
Holiday Club Accounts
Don’t let the holidays sneak up on you!
With our holiday account, you can save up throughout the year and reduce your holiday shopping stress.
- Set money aside little by little, year-round for holiday expenses
- No monthly maintenance fees
- Make deposits at any time, in any amount you feel comfortable with
- Funds available at any time
- Free e-statements*
- No minimum deposit to open
Step-Up Savings
Earn higher dividends when you pair your Austin FCU savings with Performance Checking or E-Checking.
- No monthly maintenance fees
- Tiered dividends up to 0.50% APY on balances up to $100,000
- 2 free withdrawals per month**
- Free e-statements*
- No minimum deposit to open
Custodial Accounts (TUTMA)
Your kids future starts now.
A custodial account (TUTMA) lets you easily save and invest money for your child’s future, with great tax benefits since kids typically pay lower tax rates than adults. The best part is you can use the money for anything that helps your child – from education to their first car – and it automatically becomes theirs when they turn 18 or 21.
- Custodians can save funds for the benefit of a minor up to the age of 21
- Competitive dividends on balances of $100 or more
- Parent or legal guardian must be custodian of the account
- Custodian administers the account for the benefit of the minor
- Free online banking
- Free mobile banking
- Free e-statements*
- $5 minimum deposit to open
*Paper statements subject to current fee schedule
**Additional withdrawals subject current fee schedule
Individual Retirement Accounts (IRAs)
Your “future you” will thank you!
Individual Retirement Accounts set you up for success in retirement while delivering tax benefits today. We offer both Traditional and Roth IRAs.
Competitive dividends above standard savings rates
Traditional & Roth IRA options
- No setup fees
- Avoid the $20 annual maintenance fee by meeting two of the following qualifications:
- Have an active debit card (used within 30 days)
- Have an active credit card (used within 30 days)
- Have a loan of any kind
- $7,000 contribution limit per year
- Additional $1,000 “catch-up” contribution allowed for ages 50+
- Funds can be used to purchase CDs within IRA
- $100 minimum deposit to open
Difference between Traditional and Roth IRAs
When would you like to enjoy your tax advantages? A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement.
Traditional IRA
- No income limits to open
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax*
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty**
- Mandatory withdrawals at age 70½
*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
Roth IRA
- Income limits to be eligible to open Roth IRA***
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal*
- Principal contributions can be withdrawn without penalty*
- Withdrawals on interest can begin at age 59½
- Early withdrawals on interest subject to penalty**
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor.
For more information, please fill out the contact form below.