Savings

Atlantic City Electric Company Employees FCU offers a variety of federally insured savings and investment accounts. You can use any or all of these ways to save for a great vacation, make holiday shopping easy, build an education fund, plan for your retirement, save for any other need, or earn the additional income you need today.

At Atlantic City Electric Company Employees Federal Credit Union, we offer you the following savings/investment options:

Share Savings Accounts

As a credit union member, your member-owner status is represented by the shares you save at Atlantic City Electric Company Employees Federal Credit Union.

That's why we call your savings account a Regular Share Savings Account. You must open this account with an initial minimum deposit of $5.00, and maintain that balance to remain a member in good standing.

All Regular Share Accounts earn money from day-of-deposit to day-of-withdrawal. Based on the earnings of the credit union, dividends on share accounts are declared and credited quarterly. Deposits can be made through Payroll Deduction to ensure savings growth. Your funds are insured by the NCUA.

You may open other Share Accounts for specific savings purposes like education, taxes, vacations, or special purchases. To open another Share Account for any purpose, visit or contact us.

A minimum amount of $5 must remain in your Primary Savings Account.

IRAs

An Individual Retirement Account makes a lot of sense when planning your retirement or your investment future.

Your Social Security benefits and pension are not intended to provide all of your retirement income. And planning ahead to pay for an education, or to buy a house, or any future goal is always wise.

Today's IRAs could possibly provide more tax benefits and greater earnings than in previous years.

Your IRA deposits may be made in a lump sum or by regular deposits through payroll deduction or over the counter. You may also "roll over" lump sum payments you receive from a qualified retirement account; such payments may be due to retirement, job termination, or termination of the plan. You are eligible to roll all or part into an IRA in order to defer current taxes.

At retirement, you are able to take out your funds or roll them over into another option. Taxes paid then are usually considerably less, since your income will be less.

For more information about IRAs, speak to your financial advisor.

IRA Share Certificates

Share Certificates (CDs) are also available as IRA investments.

An IRA Share Certificate requires a $500 minimum investment and can be purchased for a term of 2.5 years. The rate varies, so check with the credit union or this web site for the current weekly rate.

When planning your retirement or investment future, be sure to consider these higher yield certificates. They can be rolled over at the end of their term into other IRA options, so start planning now.

Remember that early withdrawals do incur penalties.

Share Certificates

Consider our Share Certificates. They pay higher interest rates because they are deposited for a fixed period of time.

Certificates can be purchased at the Credit Union. The terms are as low as 6 months up to 60 months with a minimum deposit of $500. The rate for a share certificate varies weekly so be sure to contact the Credit Union for the current day's rate.

The rate is fixed for the entire certificate term. Dividends are calculated daily and compounded and credited to your account quarterly.

Savings Club Accounts

Saving is easier when you have a goal and purpose in mind. Having a defined timeframe helps you stick to your savings budget. That's why the credit union tradition of Holiday Clubs and Vacation Clubs is still a great savings choice.

Open a Vacation Club or Holiday Club Account or open both! Whatever account you choose, you still earn dividends which are compounded and credited quarterly. You can even establish your own "club" accounts for tuition, taxes, insurance, and more!

And as a credit union member, you can make your saving even easier with Payroll Deduction, the "no excuses" way to save for that important goal. You can also transfer funds to your Account with Call-24, our 24-hour telephone teller, or you can mail in your deposit or deliver it in person.