Savings with Blue
One realized dream at a time, Blue helps transform communities to reach their full potential.
We discover pathways to realize your possibilities.
Learn about all the benefits of having a savings account with Blue and explore one of our options to find the best fit for you. We offer a wide range of savings accounts that can help you save for what matters most.
Accelerate your path to financial freedom.
Take advantage of Blue's Accelerated Savings account, which earns you 5.00% APY* on a balance up to $1,000. Withdraw from it whenever you'd like, or watch your savings grow.
- Tiered structure for savings - the best part about the tiered rate is that you continue to earn dividends on the balances within each tier
- Earn 5.00% APY* on a balance up to $1,000 (Tiered rates apply to balances greater than $1,000)
- No monthly transfers required to earn dividends
- Make deposits to your account at any time or withdraw from it whenever you'd like
- Your savings account balance helps you earn more points towards Rewards for Life - where you can get discounts and bonuses on future products with Blue
*Annual Percentage Yield. Dividends compounded daily and paid monthly. Limit one per social security number.
Open a Sky High Savings through online banking in only a few minutes and you could earn 0.30% APY* on your balance.
Benefits of Sky High Savings:
- No minimum balance required to earn dividends
- No max, save and earn as much as you want
- No terms
- No catch
*Annual Percentage Yield. Subject to change without notice. Dividends compounded monthly. No minimum balance required to open. Sky High Savings can only be opened online.
Start saving now and enjoy when family matters most.
A Christmas Club account is a great way to start saving throughout the year for a one lump sum withdrawal right before the holidays. You can earn 1.25% APY* on balances up to $5,000! Christmas Club Accounts are FREE of charge for Blue members.
Set up your Christmas Club account today by visiting any of our conveniently located branches or give us a call anytime.
*Annual Percentage Yield. Minimum daily balance of $25.00 required to earn dividends. Rate changes once balance exceeds $5,000. Balances automatically pay out in October each year. Dividends compounded daily and paid quarterly. Penalty may be imposed for early withdrawal. Limit one per social security number.
Certificates and Term Shares are a low-risk savings option. The longer the term, the better the rate. Your money is also Insured by the NCUA, giving you even more peace of mind. To learn more, stop by your local branch or give us a call.
Regular Term Shares
- $1,000 minimum opening balance
- Various term options
IRA Term Shares
- $1,000 minimum opening balance
- Traditional, Roth & SEP
A Term Share is similar to a Certificate of Deposit, or CD at other financial institutions.
Dividends compounded and paid monthly. Additional deposits only permitted on the 30 month expandable term share account and all IRA term shares. IRA maintenance fees apply. We may impose a penalty if you withdraw any of the principal of the Term Share account before the maturity date. If the term of the account is one year or less the penalty will equal 90 days’ dividends on the amount withdrawn. If the term of the account is more than one year and less than three years, the penalty will equal 180 days’ dividends on the amount withdrawn. If the term of the account is three years or more, the penalty will equal 240 days’ dividends on the amount withdrawn. 30-Month Expandable Term Share account is not eligible for IRAs.
Transferring your money to a Blue Money Market account could earn you a higher rate and give you more access to your money through checks — plus, there’s no monthly fee to maintain the account.
Money Market Features:
- Minimum $1,000 balance on Tiered Money Markets
- Dividends are compounded and paid monthly
- Unlimited deposits once the account is established
- No minimum withdrawal amount
Minimum daily balance of $1,000 is required to earn dividends. UNLIMITED transfers and withdrawals in person at any branch. If the balance drops below the minimum balance their funds will earn the current share savings rate. Dividends compounded and paid monthly. Rates are subject to change.
Ultra Money Market Features:
- Opening balance $100,000
- Minimum balance $2,500 to earn dividends
- Dividends are compounded and paid monthly
- Unlimited deposits once the account is established
- No minimum withdrawal amount
Minimum daily balance of $2,500 is required to earn dividends. UNLIMITED transfers and withdrawals in person at any branch. If the balance drops below the minimum balance their funds will earn the current share savings rate. Dividends compounded and paid monthly. Rates are subject to change.
IRA Savings
- $25 minimum opening balance
- Traditional, Roth, & SEP
- No setup fee
- $10 annual fee (Free for Gold and Sapphire members)
- No fee for incoming transfers or rollovers from an IRA or 401(k)
- Direct Transfer - Unlimited direct transfers, which move IRA funds from one IRA to another, requires no IRS reporting.
If you have a 401(k) from a previous employer or are retiring, there is generally a deadline to rollover the funds in order to keep its tax-deferred status. Please consult your financial advisor on your maximum annual contributions.(IRAs) will grow over time with compounding interest. These accounts can come with certain tax benefits so be sure to consult your tax advisor when opening an IRA account.
If you have your Required Minimum Distribution setup up to be disbursed by the CU please contact us if you have made the decision to not take the Required Minimum Distribution (RMD ) for 2020. If you have decided to still take your Required Minimum Distribution (RMD’s) for 2020 you do not need to contact the credit union and your payments will be disbursed automatically as usual.
IRA Term Shares
- $1,000 minimum opening balance
- Traditional, Roth & SEP
- Dividends compounded and paid monthly
Additional deposits permitted on all IRA term shares. IRA maintenance fees apply. We may impose a penalty if you withdraw any of the principal of the Term Share account before the maturity date. If the term of the account is one year or less the penalty will equal 90 days’ dividends on the amount withdrawn. If the term of the account is more than one year and less than three years, the penalty will equal 180 days’ dividends on the amount withdrawn. If the term of the account is three years or more, the penalty will equal 240 days’ dividends on the amount withdrawn. See IRA Term Share rates above.
Membership Share Savings
A member’s first Share Savings account establishes their membership
at Blue Federal Credit Union. The motto “once a member, always a member”
applies as long as the Share account remains open. This provides voting
privileges and eligibility to use all credit union products and
services!
Open a Share savings:
- See if you're eligible to join Blue
- You must have at least $5.00 to open your Share Savings account. This amount keeps your membership open.
- You must keep a $25.00 daily balance or more to earn your maximum dividend
Supplemental Savings
A supplemental savings is an additional savings account that you can add any time to your account. While this differs from the Share Savings account (which keeps your membership open with Blue), these accounts are a great way to organize your finances and create savings "buckets" for special projects or needs - such as funds to save for your annual car insurance premiums or even that rainy day!
A supplemental share savings has no minimum balance to open, but you must keep a $25.00 daily balance or more to earn your maximum dividend.
Minimum daily balance of $25 required to earn dividends. Dividends compounded daily and paid quarterly.
