Share Investments

Money Market Account

What is a Money Market Account?

A Money Market Account is a type of savings account that usually earns a higher dividends than a basic savings account. The minimum deposit and balance for our money market accounts are higher than the minimum balance of a basic savings account.

Withdrawals are limited to six per quarter with a minimum withdrawal amount of $250.00.

IRA  & ESA Share* Account

What is an IRA?

An Individual Retirement Account (IRA) is an excellent tool for retirement savings. Unlike most investments, depending on the type of IRA you choose, contributions may be tax-deductible and will grow either tax-deferred or tax-free. Cedar Point Federal Credit Union offers both traditional IRAs and Roth IRAs. Please contact a member service representative for more information.

What is an ESA?

A Coverdell Education Savings Account (ESA), formerly referred to as an Education IRA, is a great way for parents, grandparents and others to help meet the rising costs of a student's education. Income limitations apply. Consult your tax advisor for more information on how IRAs can affect your taxes.

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*Rate information is accurate as of January 1, 2024. See our Share Rate & Fee Schedule for details.

Looking for a  more traditional checking or savings account?

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Certificate Accounts**

What is a Certificate?

A certificate account is different from a traditional savings account in several ways. Savings accounts allow members to deposit and withdraw funds relatively freely. But with our certificates, members put money in the account for a set period of time, during which they can’t access the funds without paying a penalty.

We offer certificate terms from three months to 60 months. The minimum deposit for a certificate account is $1,000.00. A penalty* will be charged for early withdrawal of certificate accounts. Rates are fixed for the entire term of the certificate account and funds cannot be deposited into existing accounts until maturity.

*Early withdrawal penalty: 90 days dividends for certificate terms of 13 months or less; 180 days dividends for terms of 24 months; 270 days dividends for terms of 36 months; 365 days dividends for terms of 48 months; and 455 days dividends for terms of 60 months

**Please note that Certificate Accounts are offered through Cedar Point Federal Credit Union and not through Penn Mutual Life Insurance Company or Hornor, Townsend and Kent, LLC (HTK).

Rate information for certificates is accurate as of August 1, 2024. Early withdrawal penalties will apply. Fees could reduce earnings on your account. See Account Agreement and Truth in Savings Disclosure for details or contact Cedar Point to receive a copy of these disclosures.