Want a Back-up Plan for Life's Twists and Turns?

Want a Back-up Plan for Life's Twists and Turns?



Simple as 1-2-3...



The Financial Freedom Account Savings Program is designed to create long-term financial stability for you and your family.

  • Set three realistic personal savings goals with our help — We will work with each participant to develop an Individualized Savings Plan.
  • Elect an automatic payroll deduction to achieve your goals
  • Earn 0.35% APY* — our highest savings rate — PLUS earn a dividend bonus up to $15.00 per quarter - up to $60.00 each year!**
  • Get rewards for hitting one or all three of your savings goals
    • Goal #1: $50 Target gift card
    • Goal #2: Dinner and movie package for two or a spa treatment gift certificate ($100 value)
    • Goal #3: $250 Best Buy or Lowe's gift card

To get started, download our handy Savings Plan Worksheet here.


Other program guidelines

  1. Must be signed up for e-statements to participate in the program.
  2. Active payroll deductions of at least $10.00 per pay period up to a maximum of $1,000 per pay period are required to participate in the program.
  3. Additional deposits outside of payroll deductions are permitted, but are limited to $1,000 in any one calendar week.
  4. If payroll deductions are terminated, you will have 30 days to move the funds to another Western Connecticut FCU account of your choice. If the balance remains after the 30 day period, the funds will automatically be converted to the Premium Savings account type.
  5. Account balance can't exceed $50,000 at any time. Upon reaching a balance of $50,000 you will have 30 days to move the funds to another Western Connecticut FCU account of your choice. If the balance remains after the 30 day period, the funds will automatically be converted to the Premium Savings account type.
  6. Program will begin on 3/1/14 and will be open to the first 100 members that enroll. The enrollment period will end on 9/30/14.
  7. Initial dividend rate of 0.35% APY is effective 3/1/14. Rate is subject to change at any time without prior notice.
  8. Bonus dividend payments will be made to qualifying accounts quarterly on January 1, April 1, July 1, and October 1 each calendar year for the time period the program is in effect. To qualify the member must have active deposits via payroll deduction that equal at least $15.00 on a per week basis and they must have completed the savings worksheet. The dividend credit will be calculated based on the balance in the account at the end of the quarter.
  9. The credit will be equal to 1.00% of the balance, with a minimum of $2.00 paid up to a maximum of $15.00.
  10. Any program participant leaving the program prior to meeting their 3rd personalized savings goal will be subject to an early termination penalty. The early termination penalty will be calculated by adding up the last 3 bonus dividend payments made to the account. You will not lose your base deposit and base dividend earnings.
  11. The terms of the program may be modified on 10/1/14 or any day thereafter. A written notice will be provided to program participants of any changes made via email at least 10 days prior to the change effective date.
  12. If no rent payment exists or documentation is not provided, a minimum rent payment of $1,000 will be used to determine Goal#1 in your Individualized Saving Plan.

*APY=Annual Percentage Yield.
**Dividend bonuses up to $15.00 are paid quarterly for qualifying accounts. See Credit Union for more details or visit our website to review the program guidelines.






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Rates
Type APR*
Personal Loan SPECIAL6.49%
10 Year Fixed Home Equity3.99%
New Auto up to 60 months2.49%
Type APY**
Financial Freedom Account0.35%
36 month Certificate0.753%
48 month certificate1.005%
* APR may vary month to month based on the Prime Rate. All rates disclosed are dependent on your credit rating. Other rates and terms may apply, please contact the credit union for details.
** APY as high as amount shown. APY=Annual Percentage Yield. Rates subject to change.