With thousands of savings options out there it can be tough to know where to turn. As a not-for-profit financial cooperative, your credit union believes in giving you the best options to protect your family’s future.
Whether you are saving for retirement, a new swing for the backyard or your child’s education, you can trust your friends at baylands to have your best interests at heart.
Check out our competitive rates!
share savings
A $25 deposit into your share savings account represents your ownership “share” of the credit union. With competitive dividends declared quarterly, this is an easy way to create a regular and routine savings account.
share certificate
If you are looking for a higher rate of return, try a Share Certificate. Similar to a bank’s CD, terms range from 6 months to 60 months with new specials and options all the time. Minimum balances start at a low $500. Plus, seniors can earn a higher yield on terms starting at 24 months. Certificates are great for children’s savings too!
IRAs (individual retirement accounts)
We offer 3 types of individual retirement accounts to help your family save for your future.
traditional: Contributions to this type of IRA may be tax deductible in the year the contributions are made, and taxes due on the earned interest are deferred until the funds are withdrawn.
roth: Contributions are post-tax, and growth may be tax-free. Since withdrawals are not reportable income, they won’t affect your adjusted gross income during retirement.
coverdell: Gives flexibility to families saving for college tuition and other related expenses. Up to $2,000 per year may be deposited for each child under age 18. Anyone can make a contribution - parents, grandparents, relatives, or friends. Earnings and withdrawals are tax free if used for educational expenses by age 30.
share investment
A share investment (money market) account is designed to earn a higher return while still allowing your
family easy access to your money. The minimum deposit to earn dividends is $2,000 with rates increasing at balances over $10,000 and $50,000.
christmas club
Ease the expense of holiday spending with a baylands christmas club account. These accounts traditionally begin and end in October. However, with as little as $25 you can begin a christmas club at any time of the year. On or about October 15th, the accumulated funds in your christmas club will be transferred to your savings account.
vacation club
A baylands vacation club works exactly the same as our christmas club making savings for your family vacation easy. The only difference is that a vacation club begins and ends in May. On or about May 25th, vacation club accounts pay out to your family’s account allowing you to withdraw the funds as needed.
Other non-insured investments are available through our financial partners.
