Deposits
Regular Share Savings
The basic account required for membership. A minimum opening balance of $25 is required, which includes a one-time $10 membership fee.
Money Market Accounts
Earn higher yields, yet have easy access to your funds. Six withdrawals per month are permitted, with up to three by check. Our tiered dividend structure rewards higher balances with higher yields. Open your Money Market Account with a minimum deposit of just $2,500.
Summer Savings program
Make sure you have enough money to get you through summer vacation by setting up a Summer Savings account. Deposit a portion of each paycheck throughout the school year and withdraw from it to replace the paychecks you don’t receive during summer vacation.
Term Share Certificates (CDs)
Lock in a yield for your choice of terms from six months to five years with an opening balance of at least $2,500. You can open a three-month certificate with an initial balance of $10,000.
For protection against rate volatility, consider "laddering" your investments. Laddering simply means dividing your money among several certificates, each with an increasingly longer term, instead of putting all your money in one certificate. Periodically, part of your investment portfolio becomes available for re-investment at current rates, while the majority of your money continues to earn the rates at which you started. Call for more information about laddering.
Individual Retirement Accounts (IRAs)
It’s never too soon to start saving for retirement, and a Camino FCU IRA is a smart way to do it. You earn competitive yields and get the peace of mind of federal deposit insurance up to $250,000, separate from and in addition to the coverage on your regular savings.
For as little as $2,000 you can open a Traditional or Roth IRA, each with its own possible tax benefits. Consult your tax advisor to determine which is best for you. We can also accept rollovers of IRAs from other financial institutions, as well as from 401(k)s and 457s when you change jobs or retire.
Christmas Club
If your holiday gift needs usually exceed your holiday gift budget, open a Christmas Club account. You only need $15 to start with, and by saving all year long – we recommend automatic deposits via payroll deduction or direct deposit – you’ll have a tidy sum by next Christmas.
Checking accounts
Choose checking with no frills or requirements for just $3 a month, or pay no monthly fee at all with an average daily balance of $2,500 or direct deposit. Seniors age 55 and up enjoy free checking with no requirements.
Teens — we want to CU Succeed
Teens — are you shy about having "the talk" with your parents? You know… about where money comes from? Then go to the CU Succeed‡ web site and get answers about the things you need to know:
- Buying a first car
- What a credit report is, and why it’s important
- Finding the traps in credit card offers
- Balancing a checkbook
- And much more
Get published
Many CU Succeed articles are written by your peers, teens who have been where you are. If you have some financial advice to pass along, submit your story to CU Succeed and your story could be published in the print newsletter or online. In fact, writing financial advice would make a good class project.
Kirby Kangaroo for kids makes learning to save fun!
At Kirby Kangaroo’s‡ web site, your children will learn that it’s fun to save and plan for the future. Kids up to age 12 are automatically enrolled in Kirby’s program when you open a Camino FCU account for them.
Kirby’s kids receive their own savings passbook so they can keep track of their money, a quarterly newsletter, and access to the entertaining and educational Kirby Kangaroo Club website. Most important, they’ll learn important financial lessons they’ll use all their lives.
Federally insured security
Your deposits at Camino Credit Union are insured up to $250,000 by the National Credit Union Administration, a U.S. government agency. You can increase your coverage by setting up your accounts as shown below.
Here's an example of how a married couple established multiple accounts with different ownerships to maximize their insurance coverage:
| Individual Accounts Coverage | |
|---|---|
| John only | $250,000 |
| Jane only | $250,000 |
| Joint Accounts Coverage | |
| Held by John with Jane as co-accountholder | $250,000 |
| Held by Jane with John as co-accountholder | $250,000 |
| Retirement Accounts | |
| John only | $250,000 |
| Jane only | $250,000 |
| Revocable Trust Coverage | |
| John only | $750,000 |
| Jane only | $750,000 |
| Total coverage | $3,000,000 |
By putting various accounts under different legal ownership, John and Jane have increased their coverage to $3,000,000.
‡By clicking this link you will be leaving the credit union's web site. The privacy policies of the third-party web site you are linking to may differ from the credit union's. The third-party site is not owned or controlled by the credit union, and we are not responsible for its availability, content, security, claims, or for information, goods or services obtained from it. The credit union does not represent either the third party or the member if the two enter into a transaction.
