Navigating the investment world can be confusing, but understanding your options will go a long way toward getting you on the road to financial security.  Vons Credit Union offers Share Certificates, Jumbo Share Certificates, Individual Retirement Accounts (IRAs) and Money Market Accounts.

Share Certificate (similar to a CD)
A share certificate is a short- or medium-term, interest-bearing, National Credit Union Share Insurance Fund (NCUSIF)-insured debt instrument. They offer higher rates of return than most comparable investments in exchange for tying up your invested money for the duration of the certificate's maturity. Money removed before maturity is subject to a penalty. Share certificates are low-risk investments also known as "time deposits" because the member account holder has agreed to keep the money in the account for a specified amount of time (anywhere from six months to five years at Vons Credit Union).  Our minimum balance requirement is just $1000.  Click here to view current rates. 

Jumbo Share Certificate (similar to a Jumbo CD)
Jumbo share certificates are the same as basic share certificates except that the minimum balance requirement is higher in exchange for a higher annual yield.  Click here to view current rates.   

Individual Retirement Account (IRA)
An IRA is a tax-deferred retirement account that permits individuals to set aside money each year, with earnings tax-deferred until withdrawals begin at age 59½ or later.  Earlier withdrawal is subject to a 10% penalty. Only those who do not participate in a pension plan at work or who do participate and meet certain income guidelines can make deductible contributions to an IRA. All others can make contributions to an IRA on a non-deductible basis. Such contributions qualify as a deduction against income earned in that year and interest accumulates tax-deferred until the funds are withdrawn. A participant is able to roll over a distribution to another IRA or withdraw funds using a special schedule of early payments made over the participant's life expectancy.  Vons Credit Union offers Traditional, Roth and Coverdell IRAs. Your IRA accounts are federally insured to at least $250,000.  Click here to view current rates.   

Money Market Account
These accounts invest your balance in short-term U.S. government-insured investments or member loans. The rates they offer tend to be slightly higher than those on interest-bearing checking accounts, but they usually require a higher minimum balance to start earning interest.  At Vons Credit Union, we do not have a minimum balance requirement.  Your Money Market Account is NCUSIF-insured up to $100,000.  Click here to view current rates. 

 

To open an investment account, contact our Member Services Department at 800.488.8328, Ext. 231.