Savings Products

Western CT has many savings products and services to fulfill all of your financial needs.

We offer many ways to save, from a basic savings account or money market account, to Certificates or IRAs. Check out our current rates and let us know how we can service you.

Basic Savings Account

Our basic savings account requires a $300.00 minimum balance. Withdrawals are not restricted and ATM access is available. Many of our current members use this to put their loan payments aside each month.

Premium Savings Account

The Premium Savings can be combined with a Premium Checking to maximize your membership experience with the Credit Union. The Premium Savings requires a $1,000.00 minimum balance to avoid service fees. With Premium Savings you will earn higher dividends than our Basic Savings and have flexibility to have an unlimited number of electronic withdrawals each month.

Money Market

A minimum balance of $2,000.00 is required and electronic withdrawals are restricted. The money market account pays a higher dividend than our basic savings but still allows you the flexibility of withdrawing funds at any time without penalty.

Holiday Club

Our Holiday Club accounts require a minimum balance of $10.00 and deposits can be made in any amount and any frequency. Withdrawals are limited to specific time period. Funds are generally available the fourth Friday of October each year. The exact date is announced in September’s newsletter. Any prior withdrawals are subject to a penalty.

Vacation Club

Our Vacation Club accounts require a minimum balance of $10.00 and deposits can be made in any amount and any frequency. Withdrawals are limited to 2 (two) per calendar year. Each additional withdrawal is subject to a penalty.

Growth Certificate

An initial deposit of $500.00 is made to open the account, then each month following you need to increase the balance by a total of $500.00. If you are able to meet the increase requirements a high dividend is paid. If the increase is not met, the lower dividend will be paid. Should the increase not be met for 2 consecutive months, the account becomes a basic savings.

Certificates of Deposit (CDs)

We offer a variety of terms from 6 months to 60 months, all at competitive rates. A minimum of $2,500.00 is required to open a certificate. A maturity notice will be sent to you about two weeks before the maturity date. You have a 10 day grace period following the maturity date to change the term of the certificate, otherwise it is automatically renewed for the same term at our current rates.

IRA Shares and Certificates

We offer many types of Traditional, Roth, or Coverdell ESA accounts. We can help you open a new account or you rollover from another IRA. We can help match up your needs to appropriate type of IRA Share or Certificate. The dividends are competitive and funds are insured up to $250,000.