New Horizons Credit Union's regular savings accounts are referred to as share accounts because, as a member, you share in the ownership of the Credit Union. Your money works harder for you at New Horizons Credit Union. Thanks to the not-for-profit structure, our share savings accounts generally earn higher rates of return than similar accounts at for-profit financial institutions. As a not-for-profit, we don't share money with stockholders like a bank, we return profits to members like you — through higher savings dividends and lower loan rates.
Prime Share (Savings Account)
By opening a prime share at New Horizons Credit Union, you are establishing membership with NHCU and can take advantage of all that the credit union has to offer, including any one of our free Kasasa Checking accounts or low rate loans! An initial deposit of $25 will establish your account and your ownership. (This is not a fee.) Dividends on your share account are calculated daily and posted monthly. Dividend rates are reviewed by the Board of Directors periodically and are subject to change. These rates are posted in the Credit Union and on this site under Savings Rates.
You may, at any time, add a joint owner to your share account, thereby giving another individual access to your savings account. The joint owner has rights of survivorship on a share account, but is not entitled to membership privileges. Joint owners who are eligible for membership are encouraged to open separate accounts with the Credit Union.
A Money Market account is an NCUA insured investment type account that earns you a higher dividend than a regular savings and offers you flexibility with limited check writing which can be helpful in emergencies. Because a Money Market account is considered more of an investment than savings account, the number of transactions you are able to make is limited by the Federal Reserve. If you repeatedly make more than six transactions a month, your account may be subject to closure per the Federal Reserve. Also, for each transaction after six, there is a $5/transaction fee.
- Minimum to open is $2,500.
- Maximum of six transfers per month.
- Maximum of 3 of the transfers may be check, draft or similar order payable to a third party.
- Protect your cash from market risk since the account is insured.
- Earn a better dividend rate
- Keep your cash in a money market fund for short-term needs or until you decide how to invest it.
- Get easy access to your cash.
- View Money Market rates here.
If you are in the market for an insured account that offers a higher yield and you are willing to lock in funds for a set term ranging from 3 to 36 months, then a Certificate Account may be what you need. Minimum deposit requirement is only $500. Dividends are calculated and posted monthly. Call or visit any of our offices for details. You can also view our rates here.
Make saving for Christmas that much easier with our Christmas Club account. Open a Christmas Club Account with any amount and make deposits as often as you wish. Then, watch your deposits grow on this dividend bearing account.
The first week in November, you will receive a deposit into your primary account for the balance held in your Christmas Club account so you can get your holiday shopping underway. Deposits to keep an existing Christmas Club account opened after the annual, November balance transfer, can be made by an account transfer, over the phone or at any branch, automatic payroll deduction, transfers through Online & Mobile Banking, and deposits sent via mail. If no deposit is made in the 12-month period following the annual November Christmas Club funds transfer to Shares, the account will be automatically closed. But, be assured, the account can be reopened by contacting our Member Services Center at 1-800-824-3610 or by visiting any of our branches. Note: Withdrawals made from a Christmas Club Account prior to the November balance transfer date will incur an early withdrawal fee as posted on our Fee Schedule.
We make saving for that dream vacation easy with our Vacation Club account. It works similar to our Christmas Club account. The only difference is you can access your funds and make transfers at any time. The funds you deposit stay in the account earning dividends until you are ready to use. Note: If there are no transactions in a 12-month period, the account is subject to closing if there is a $0 balance. And, if there is a balance, but no transactions in a 12-month period, the account may be subject to dormant account fees as posted in the Fee Schedule.
New Wave Savers Club
With a New Wave Savers Club account, our young members will be able to open a savings account and learn about financial literacy. For more information on New Wave Savers Club, click here !
America Saves Program
New Horizons Credit Union participates with the National America Saves Program which holds an annual pledge program for members wishing to commit to a saving and budget plan. There is no cost to participate and have access to resources that are designed to help encourage saving. The annual, national pledge program is held the last week of February, but can be done anytime throughout the year. Visit americasaves.org for more information.