Term Share Certificate Account

A Term Share Certificate is an ideal way to save for a specific goal or to build a cash reserve.
We offer a variety of terms from 6 months to 18 months at competitive dividend rates. Earn at a higher rate than Regular Shares; plus your rate is guaranteed for the term you choose. Dividends are posted quarterly. The rate is set at the time of purchase. View current dividend rates.

IRA Term Share Certificate Account

Established by the federal government in 1978 to provide consumers with a tax-deferred personal retirement savings vehicle, the IRA is an ideal way to save for retirement.

HCFFCU offers IRA accounts as follows:

• Members are eligible to open an IRA if they have earned income or received alimony during the year.
• Dividends are compounded and paid quarterly.
• The maximum annual contribution limit for 2023 is $6,500 or your taxable income, whichever is lower (or $7,500 if you are age 50 or over by the end of 2023).
• Contributions may be tax-deductible in the year they are made.
• Investments within the account grow tax-deferred.
• Withdrawals in retirement are taxed as ordinary income.
• The IRS requires individuals to begin taking money out of the account at age 73.
• Unqualified withdrawals before age 59 1/2 may trigger a 10% early withdrawal penalty and income taxes.

For more information, contact Member Services.