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Your savings are federally insured to at least $250,000.00 by the NCUA (National Credit Union Administration, a U.S. Government Agency) and backed by the full faith and credit of the United States Government. We offer several convenient ways for you to deposit money into your savings accounts. Please view the Deposit Options page for more information.

We offer these savings programs:


Regular Savings Accounts

Establish your Welcome Federal Credit Union membership simply by opening a regular savings account.

  • Minimum amount to open and maintain account = $5.00
  • Easy to access
  • Eligibility for ALL Credit Union programs and services requires an open share account with a $5.00 minimum balance.

For more information about a regular savings account or to obtain an application for this service, you can either print our membership forms from this web site or call or stop by any of our branch offices.


Custodian Accounts
(for children under the age of 18)

  • The custodian must be an adult person, a parent of the minor, or a guardian of the minor.
  • The custodian has complete control of the account and is the person to sign the agreement.
  • Minimum amount to open and maintain account = $5.00.
  • The money in the account belongs to the minor and the dividends are reported to the minor's social security number.
  • Withdrawals can only be made by the custodian.
  • When the minor reaches 21 years of age, the custodian is required by law to transfer the money in the account over to the minor.

For more information about a custodian account or to obtain an application for this service, you can either print our membership forms from this web site or call or stop by any of our branch offices.


Scholar Dollar Accounts
(for high school and college youth)

Scholar Dollar Accounts are designed to help high school and college youth learn financial responsibility, money management, and independence. The Scholar Dollar account package will include:

  • Savings account
  • Checking account
  • Debit Card
  • Virtual Branch® Home Banking
  • TellerLine Audio Response Account
  • A minimum deposit of $5.00 is required to open and maintain the savings account.
  • A minimum deposit of $50.00 is required to open the checking account.
  • Checking accounts for applicants under the age of 18 years require a member parent as joint owner.
  • Youth member must show responsibility with managing the account.
  • Members must be 18 years of age to enter into a binding lending contract and meet the Credit Union's lending criteria.

For more information about a scholar dollar account or to obtain an application for this service, you can either print our membership forms from this web site or call or stop by any of our branch offices.


Christmas Club Accounts

  • Minimum amount to open and maintain account = $5.00
  • One withdrawal per quarter is permitted--so, if you want to shop in July, the funds are available without penalty.

For more information about a Christmas Club account or to obtain an application for this service, you can either print our membership forms from this web site or call or stop by any of our branch offices.


Traditional Individual Retirement Accounts (IRA)

  • Minimum amount to open and maintain account = $100.00
  • There are contribution and deductibility limits and restrictions; please consult your tax advisor.
  • No maintenance fees
  • No Credit Union penalties for early withdrawal (IRS penalties do apply).
  • Dividends are posted quarterly and calculated on the average daily balance.
  • In addition to each member's funds being insured by NCUA, Traditional IRA accounts are eligible for separate insurance protection up to $250,000.00.

For more information about an IRA or to obtain an application for this service, you can either print our membership forms from this web site or call or stop by any of our branch offices.


Roth IRAs

Same features as listed for traditional IRAs with the following exceptions:

  • Contributions are not tax-deductible.
  • "Qualified" distributions are tax-free.
  • There are contribution limits and restrictions; please consult your tax advisor.
  • You can have a Roth IRA even if you participate in an employer-sponsored retirement plan.
  • You can have both a Traditional IRA and a Roth IRA.
  • Contributions can be made even after age 70½ if there is earned income.
  • Unlike a Traditional IRA which requires you to start withdrawing money at age 70½, a Roth IRA has no such requirement.
  • In addition to each member's funds being insured by NCUA, Roth IRA accounts are eligible for separate insurance protection up to $250,000.00.

For more information about a Roth IRA account or to obtain an application for this service, you can either print our membership forms from this web site or call or stop by any of our branch offices.


Coverdell Educational Savings Account (ESA)

Same features as listed for traditional IRAs with the following exceptions:

  • This IRA's sole purpose is to help you pay for your child's post-secondary education expenses such as: tuition, fees, books, supplies, equipment, and, in some cases, room and board and computers.
  • Contributions are not tax-deductible.
  • Anyone who meets the income qualifications can open and contribute to a Coverdell ESA. This includes parents, grandparents, and others. Total contributions per child (the designated beneficiary) cannot exceed $2,000.00 per year.
  • "Qualified" distributions are tax-free and penalty-free.
  • There are contribution limits and restrictions; please consult your tax advisor.
  • Every Coverdell ESA must have one, and only one, "responsible individual" to oversee the account. You can be the responsible individual as long as you are a parent or legal guardian of the child.
  • In addition to each member's funds being insured by NCUA, Coverdell Educational Savings Accounts are eligible for separate insurance protection up to $250,000.00.

For more information about an ESA account or to obtain an application for this service, you can either print our membership forms from this web site or call or stop by any of our branch offices.


Share Certificates

  • Various share certificates are available. Minimum amount to open and maintain a share certificate account begins at $500.00.
  • For your convenience, we offer several different terms.
  • The dividend rate and annual percentage yield are fixed and will be in effect for the term of the account. The annual percentage yield is based on an assumption that dividends will remain on deposit until maturity.
  • We may impose a penalty if you withdraw any of the principal before the maturity date.

For more information about a Share Certificate account or to obtain an application for this service, you can either print our membership forms from this web site or call or stop by any of our branch offices.


Money Market Accounts

A money market account (MMA) is a type of savings account that's similar to regular savings accounts. The difference is that an MMA usually pays higher dividends, has higher minimum balance requirements, and has a maximum number of withdrawals per month. MMAs are different from Share Certificates in that there is no term required to earn dividends.

  • Minimum deposit required to open, and the minimum Daily Balance required to avoid a service fee for the calendar month = $1,000.00.
  • Account transfer and withdrawal limitations apply. Please review the Rate and Fee Schedule for fees associated with an MMA account. Fees or other conditions could reduce earnings.
  • Dividends are accrued daily and calculated, compounded, and paid monthly at month-end. Dividends are variable and can change on a monthly basis at the discretion of the Board of Directors. Dividends are computed on the average daily balance method. The dividend period begins on the first calendar day of the period and ends on the last calendar day of the period (ex. 1/1/08 - 1/31/08).

For more information, restrictions, and disclosures for Money Market Accounts, please contact your branch.

We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. Your savings are Federally insured to at least $250,000 and backed by the full faith and credit of the United States Government (National Credit Union Administration, a U.S. Government Agency). The Tree Swirl Service Mark is a registered trademark of Welcome Federal Credit Union. Unauthorized use is prohibited.

We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

Your savings are Federally insured to at least $250,000 and backed by the full faith and credit of the United States Government (National Credit Union Administration, a U.S. Government Agency).