Savings Certificates

Savings Certificates

Watch your assets grow with a solid investment.

WECU® members have a wide range of investment options available. Both our Savings Certificates and IRA Certificates fall under the same rate structure. To calculate what you can expect on your investments, use our returns calculator.

Term Savings Certificates

Whatcom Educational Credit Union has designed a certificate program that is competitive and, more importantly, specifically meets your needs. Certificates have a contractual term and set maturity date and may be used as collateral for lending purposes at 2% over the issue rate -except when being used as an IRA investment.

There are several options available to you at maturity:

  • The principal may automatically renew into the same term certificate.
  • The dividends may automatically renew into the same term certificate.
  • The principal may be transferred into any other accounts you have at WECU®.
  • The dividends may be transferred into any other accounts you have at WECU®.
  • The principal may be sent to you in the form of a check or to someone else that you choose.
  • The dividends may be sent to you in the form of a check or to someone else that you choose.

Nest Egg

Individual Retirement Accounts

It is important that you consult your tax advisor for information regarding your specific tax implications prior to investing in an Individual Retirement Account (IRA).

Traditional and Roth IRAs at WECU® are insured in the aggregate to $250,000 by the National Credit Union Administration (NCUA.)

Traditional IRA
Effective 2016, the maximum contribution for a Traditional IRA is $5,500 per year up to age 49, $6,500 per year from age 50 to 70.5 or 100 percent of compensation, whichever is less, in a tax-deferred retirement savings plan. Based on your income, all or part of your IRA contribution may be tax deductible. Dividends earned through the years of this plan are also tax-deferred. No federal income tax is paid on either savings or dividends until distribution begins.

Roth IRA
Effective 2016, the maximum contribution for a Roth IRA is $5,500 per year through age 49, $6,500 per year from age 50 and beyond or 100 percent of compensation, whichever is less, in a tax-deferred retirement savings plan. Contributions are not deductible. However, distributions, including earnings, may be tax free if certain conditions are met.

IRA dividends and principal automatically renew into the same term certificate. Contact our member service department for more detailed information on Individual Retirement Accounts.