Savings

PREFERRED SAVINGS

PREFERRED Savings is a new savings account exclusively offered to our PREFERRED Rewards Checking members.¹

Save More

Access higher dividend rates – currently 0.15% APY¹ (subject to change) on any balance up to $10,000 and 0.10% APY¹ for amounts above $10,000.
Choose to automatically transfer your earned dividends from your PREFERRED Rewards Checking into your PREFERRED Savings each month.

Enjoy Convenience & Peace of Mind

No monthly maintenance fee
No minimum balance to earn rewards
Free online banking, mobile banking, and eStatements
No minimum deposit to open

Secondary Savings Account

Our share savings account is more than just an account—it’s also your ticket to enjoy the many benefits of becoming a Destinations Credit Union member. Once you’re a member, you’ll have access to educational resources, member-focused lending, and more to reach your goals. Get started today with just a $5 minimum deposit.

Establishes membership with Destinations Credit Union
Earn competitive dividends on average daily balances of $50 or more
No monthly service fee
Free online banking, mobile banking, and eStatements
Set up direct deposit or payroll deduction to build savings—automatically
$5 minimum deposit to open and maintain membership
NCUA insured up to $250,000
An additional $250,000 in coverage available through Excess Share Insurance

Club Accounts

Save money year-round for holidays, birthdays, vacations or other big events.

Avoid credit card debt and periods of financial stress
Competitive dividends paid on entire balance
No monthly service fee
Set up direct deposit or transfer funds from another account to build savings with ease
Internal transfers available via phone or online banking
Free online banking, mobile banking, eStatements
No minimum deposit to open
NCUA insured up to $250,000

Choose the Club Account that best suits your needs and deposit funds little-by-little to achieve your goals:

Holiday Account

Funds transferred to Share Savings in mid-October
Early withdrawal subject to penalty

Vacation Account

Funds continue to accumulate until withdrawn for special purpose
Funds can be withdrawn at any time
“You Name It” Account
Anything from “Birthday Fun,” to “Wedding Party,” or whatever else you like
Funds continue to accumulate until withdrawn for special purpose
Funds can be withdrawn at any time

Share Certificates

Regular Share Certificates

A share certificate from Destinations is not only a safe and secure form of savings, it also provides a guarantee in the form of fixed rates and a much higher earning potential. Decide the term that works best for you so you can plan for specific goals.

Fixed rates for guaranteed savings
- Higher rates than regular savings
- Rates increase by selecting longer terms
- Optional one-time boost in rates
Terms ranging from 6 months to 5 years
Early withdrawal subject to penalty
No setup or monthly maintenance fees
$500 minimum deposit to open
NCUA insured up to $250,000
An additional $250,000 in coverage available through Excess Share Insurance

High Yield Account

It’s your money, your goals — why not make the most of both? A versatile high yield account from Destinations offers more in the way of account access and earning potential. Your balance helps to make you more money via our tiered-rate system. At the same time, you’ll maintain access to your funds, including online and telephone access**. There’s no monthly service fee or balance requirements — just an opportunity to be gained. Benefit from a well-rounded account by signing up today!

Versatile savings solution for a wide range of goals
Save more to make more via tiered interest rates
- Gain a higher rate by meeting higher deposit levels
- Variable dividends calculated daily compounded and paid monthly²
No monthly service fee
Maintain immediate access to funds
Free online banking
Free mobile banking
Free eStatements
$2,500 minimum deposit to open
NCUA insured up to $250,000
An additional $250,000 in coverage available through Excess Share Insurance

Individual Retirement Accounts (IRAs)

We offer both traditional and Roth IRA plans — each with different associated tax advantages, plus Coverdell Education Savings to help save for your child’s education. There are no setup or monthly maintenance fees, just dividends above standard savings to be earned.

Tax-advantaged retirement savings³
Competitive dividends above standard savings rates
Traditional and Roth IRA options
No setup fees
No monthly or annual maintenance fees
$6,000 contribution limit per year
Additional $1,000 “catch-up” contribution allowed for ages 50+
Funds can be used to purchase share certificates within IRA
$25 minimum deposit to open shares
$500 minimum deposit to open a share certificate

Traditional vs. Roth

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. 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 minimum contribution requirement
Contributions are tax-deductible on state and federal income tax⁴
Earnings are tax-deferred until withdrawal (when usually in the lower tax bracket)
Withdrawals can begin at age 59 ½
Early withdrawals subject to penalty⁵
Mandatory withdrawals at age 72
No age limit on making contributions as long as you have earned income

Roth IRA

Income limits to be eligible to open Roth IRA⁶
Contributions are NOT tax-deductible
Earnings are 100% tax-free at withdrawal⁴
Principal contributions can be withdrawn without penalty⁴
Withdrawals on interest can begin at age 59 ½
Early withdrawals on dividends subject to penalty⁵
No mandatory distribution age
No age limit on making contributions as long as you have earned income

Coverdell Education Savings Account (ESA)

Create an easier transition into college for students and yourself by setting up a savings account early. A Coverdell Education Savings Account (ESA) provides a tax-free safe place to grow competitive dividends and also financial confidence for a new stage in life.

Set aside funds for your child’s education
No setup or annual fee
Dividends grow tax-free
Withdrawals are tax-free and penalty-free when used for qualified education expenses⁷
Designated beneficiary must be under 18 when contributions are made, or be a special needs student
To contribute to an ESA, certain income limits apply⁸
Contributions are not tax-deductible
$2,000 maximum annual contribution per child
The money must be withdrawn by the time he or she turns 30 unless they are a special needs beneficiary⁹
The ESA may be transferred without penalty to another member of the family in certain instances
No minimum deposit to open shares
$500 minimum deposit to open share certificates

Youth Accounts

Our youth savings account can teach your child lifelong saving habits.

Savings Account

Savings option for children ages 17 and younger
Competitive dividends on the entire balance
No monthly service fee
Established in child’s name with an adult as a joint owner or parent or legal guardian as custodian¹⁰
Make deposits at any time or set up recurring deposits with payroll deduction
Set your child up for success by establishing the habit of saving early
Free online banking, mobile banking and eStatements
$5 minimum deposit to open

Financial Info & Activities for Kids

Download an interactive activity book in English or Spanish to further promote the benefits of good savings habits.

¹APY=Annual Percentage Yield. APYs accurate as of January 1, 2024. Rates subject to change. Fees can reduce the earnings on the accounts. All PREFerred Rewards Checking qualifications must be met in order to qualify for any of the benefits. ²Rates subject to change every month. ³Consult a tax advisor. ⁴Subject to some minimal conditions. Consult a tax advisor. ⁵Certain exceptions apply, such as healthcare, purchasing first home, etc. ⁶Consult a tax advisor. ⁷Qualified expenses include tuition and fees, books, supplies, board, etc. ⁸Consult your tax advisor to determine your contribution limit. ⁹Those earnings are subject to income tax and a 10% penalty. ¹⁰You will need a birth certificate and social security card for the minor to open the account.