SAVING MONEY SHOULDN'T FEEL IMPOSSIBLE.
WE'LL HELP YOU GET THERE.
Savings Accounts are recommended when you need quick access to your money. This account is also recommended for overdraft protection of your checking account. Check out our savings rates.
Money Market Deposit Accounts are recommended when you meet the minimum balance requirement of $5,000 as they earn a higher dividend rate than our basic savings account. Check out our Money Market rates.
Individual Retirement Accounts are recommended when saving for retirement. There are different types of IRAs to consider including, Traditional, Roth, and Educational, each with different tax saving advantages. Check out our IRA rates.
Christmas Club Accounts are ideal if you want to stop using credit cards for holiday purchases. Deposits made to this account are available for you to use on November 1. Check out our Christmas Club rates.
How much do I need to start a savings account?
A minimum deposit of five dollars is required. This is your share of ownership in the Credit Union.
Is there a minimum opening balance for a money market account?
There is a required initial deposit of $5,000.
What is the minimum opening balance for a share certificate?
Share certificates require a minimum opening balance of $1,000.
How many different terms are available for share certificates
Share certificate terms are based on your financial savings goals. The terms can range from 30 days up to five years. We also offer jumbo rates for amounts over $60,000.
What is the step-up option on Share Certificates
The step-up option allows members a one-time dividend rate increase on all certificates with a term between two to five years.
What is an excessive withdrawal fee and how can I avoid this fee?
Our goal at Louisiana FCU is to provide you with a safe and convenient place to keep your money and to help you grow your balance over time, however savings accounts are not transactional accounts. The Federal Reserve's Regulation D puts a limit of six preauthorized withdrawals or transfers from a savings account during a monthly statement period, whereas withdrawals from checking accounts are unlimited. The Credit Union must adhere to this regulation and will charge an excessive withdrawal fee in lieu of stopping these transactions until July 1, 2018.
Here’s how you can avoid an excessive withdrawal fee:
Limit your withdrawals and transfers from your saving to six (6) per month.
Use your checking account to handle everyday expenses.
Have your direct deposit sent to your checking account.
Arrange for all ACH withdrawals, pre-authorized debits, and bill pay to come out of your checking account instead of your savings.
Plan ahead and make one large transfer instead of several small transfers from your savings account.
Use our ATMs or visit a branch to conduct transactions.
Apply for a Line of Credit and use this as your primary overdraft source.