Savings

Saving for a vacation, the holidays, new furniture, retirement, a child’s education or just for fun is easy and achievable at Yale New Haven Healthcare Federal Credit Union!

There Are Advantages to Saving at YNHHFCU

Earn competitive dividends and watch your balances grow.

Use the convenience of Direct Deposit or Payroll Deduction to benefit from automatic, committed savings.
Establish a healthy saving habit.

No required or predetermined deposit amounts.

No penalty if deposits are missed or discontinued without closing the account.

Regular Shares

Share Savings is your basic account required for credit union membership and can be used to build cash reserves for long-term goals or unexpected emergencies. A deposit of only $5.00 is required to open and sustain your membership.

Your Share Savings account earns a quarterly dividend on an average daily balance of $100 or more during the quarter. Click on Rates for the latest dividend earnings.

Holiday Club Account

Balances are automatically deposited to your Checking or Savings Account at the end of the Club term (October). There is a $15.00 fee to close before the end of the term. Click on Rates for the latest dividend earnings.

Vacation Club Account

Balances are automatically deposited to your Checking or Savings Account at the end of the Club term (April). There is a $15.00 fee to close before the end of the term. Click on Rates for the latest dividend earnings.

Quarterly Club Account

Your balance is withdrawn at your discretion, but only one withdrawal is permitted per calendar quarter. Click on Rates for the latest dividend earnings.

Term Share Certificate Account

A Term Share Certificate—commonly known as a certificate of deposit or CD—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. Click on Rates for current dividend earnings.

Individual Retirement Account (IRA)

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. YNHHFCU offers IRA accounts as follows:

Members are eligible to open an IRA if they have earned income or received alimony during the year.

Individual taxpayers may contribute up to $3,000 annually until age 70 1/2.

Individual taxpayers over age 50 may contribute an additional $500 annually.

Dividends are compounded and paid quarterly.

Taxes on earnings are deferred until funds are withdrawn after age 59 1/2.

Consult your tax advisor before opening an IRA account.

Contact Member Services for additional information on an IRA account.

CTGMA Account

The CTGMA is a Gift to Minors Act custodial account that allows members to save for their child or grandchild.

In Connecticut, the child cannot access the account funds until age 21.

Account earns a quarterly dividend on a competitive dividend rate.

Appropriate for Direct Deposit or Payroll Deduction contributions.

Contact Member Services for specific information regarding CTGMA special account.