CDs & Savings

CDs & Savings

Certificates of Deposit​

Saving money for the future starts here.  Earn a guaranteed rate of return on your savings with our certificates of deposit.  Terms range from 6 months to 5 years, and minimum deposits are as low as $500, so you can choose what fits best for your needs and budget.

  • No monthly service fee
  • Competitive rates and a variety of term options available
  • Dividends you earn can be applied directly to the CD, or transferred to your savings or checking account
  • Relationship reward benefits of up to an Additional 0.25% APY!**
  • Open with $25,000 or more and earn an Additional 0.10% APY!**
  • Insured by the NCUA up to $250,000 per depositor for all accounts
  • 10-day grace period to renew or close
  • Online account access

Rates

Effective: 3/11/2020
Share & IRA Certificates of Deposit
(Includes Traditional, Roth & Education IRAs)
Rate
APY*
6-11 Month (excludes IRA products)
0.35%
0.563
12-23 Month
0.55%
0.56%
24-35 Month
0.66%
0.67%
36-47 Month
0.77%
0.78%
48-59 Month
0.86%
0.87%
60-84 Month
1.01%
1.03%

Frequently Asked Questions About Certificates of Deposit

$500.00 is the minimum required amount to open a CD.

  • 6 months
  • 12 months
  • 24 months
  • 36 months
  • 48 months
  • 60 months
  • If you are a Bronze Member, you will receive an additional .05 basis points in addition to any of our current rates.
  • If you are a Silver Member, you will receive an additional .10 basis points in addition to any of our current rates.
  • If you are a Gold Member, you will receive an additional .25 basis points in addition to any of our current rates.
  • In addition to the Relationship Rewards levels above, if the initial deposit is $25,000 or more, you will receive an additional .10 basis points.
  • You can add funds to your CD 10 days from the date it is opened and 10 days from the renewal/maturity date.
  • You can close your CD at any time; however, you will be subject to the following penalties if you are outside of the 10 days of opening of the CD or renewal/maturity date:

i. 6-11 months: The penalty is the first 90 days of dividends.

ii. 12-84 months: The penalty is the first 180 days of dividends.

CDs & Savings

Savings Accounts

Living well, below your means starts with saving money. We know that every dollar counts, so it only takes $5 to open a savings account and start earning interest as a member of DOCFCU.
  • No monthly maintenance fee
  • NCUA insured up to the maximum allowed by law (currently $250,000 for each depositor for all combined deposits)
  • Free Online Banking, mobile banking and Bill Pay

Rates

Effective: 3/11/2020

Savings Rates
Rate
APY*
Share Savings Account
0.05%
0.05%
Club Account
0.05%
0.05%
Youth Share Savings
0.05%
0.05%

Frequently Asked Questions About Savings Accounts

Yes, the initial funding amount is $5.00, and it remains on hold until the overall account is closed.

The basic coverage available to members of a federally insured credit union is as noted below:

Yes, according to Federal Regulation D, you can withdraw from your Savings Account 6 times per month.

Yes, your Savings Account is automatically linked to your Checking Account to cover any overdrafts up to 6 times per month.

CDs & Savings

Money Market Accounts

A money market account can help you earn a higher rate of return on your balance without sacrificing access to your savings. We offer tiered rates that are based on the balance in your account.

  • Only $2,500 minimum deposit to earn dividends
  • No monthly maintenance fee
  • NCUA insured up to the maximum allowed by law (currently $250,000 for each depositor for all combined deposits)
  • Free Online Banking, mobile banking and Bill Pay

Rates

Effective: 03/11/2020
IRA Money Market Accounts
Traditional, Roth, Education
Rate
APY*
for balances from $100 – $19,999
0.10%
0.10%
for balances from $20,000 – $49,999
0.15%
0.15%
for balances greater than $49,999
0.20%
0.20%

†All rates subject to change without notice.
‡APR – Annual Percentage Rate
*Variable rate is tied to the Wall Street Journal Prime Rate as published on the last day of the month.

CDs & IRAs

Individual Retirement Accounts (IRAs)

We understand that planning for the future isn’t always easy when you have expenses that need to be paid now, but putting even a small amount away regularly in an individual retirement account (IRA) can make a big difference in our finances – today and for years to come.

We have a number of different types of IRAs to choose from, including those that offer tax-deferred earnings and tax-deductible contributions.*  Best of all, we can help you select the type of IRA that best fits your needs and goals.

Our IRA Options Include:

  • Traditional IRA:  Your contributions are tax-deferred as long as they’re qualified, which means that you won’t pay taxes now as long as you stick to the requirements.
  • Roth IRA: You pay tax on your contributions now, but not on the interest you earn or when you make qualified withdrawals.
  • Education IRA:  Don’t let the name confuse you – this is another tax-advantaged option designed to help parents save for their children’s education expenses.
  • IRA Money Market Account:  Just like a regular money market account, except this one is within an IRA.  You can access your funds at any time, but the trade off is that the interest you earn is typically lower than other IRA options.
  • IRA CD:  As the name suggests, this is a certificate of deposit (CD) that is held within an IRA account.  Your interest rate is locked in for a set term, and your money can grow tax-deferred since the CD is in an IRA.

While each type of IRA is different, all DOCFCU IRAs have distinct advantages that include:

  • Dividends posted monthly
  • Deposits insured by the NCUA up to $250,000 for each depositor for all combined deposits
  • Gold members receive a rate increase of .01% for every month within term
  • Members receive a 10-day grace period to renew or close a CD
  • No monthly service fee
  • Online access to your DOCFCU accounts

Let us help you select the option that best fits your needs and goals.  Call 202.808.3600.

*Please consult with your tax advisor for details.

Rates

Effective: 03/11/2020
IRA Money Market Accounts
Traditional, Roth, Education
Rate
APY*
for balances from $100 – $19,999
0.10%
0.10%
for balances from $20,000 to $49,999
0.15%
0.15%
for balances greater than $49,999
0.20%
0.20%
Share & IRA Certificates of Deposit
(Includes Traditional, Roth & Education IRAs)
Rate
APY*
6-11 Month (excludes IRA products)
0.35%
0.36%
12-23 Month
0.55%
0.56%
24-35 Month
0.66%
0.67%
36-47 Month
0.77%
0.78%
48-59 Month
0.86%
0.87%
60-84 Month
1.01%
1.03%

Explore Our Calculators

Use our calculators to see just how much you need to save – and for how long – so you can better plan for a sound financial future.