From a Basic account to the Vacation Club, to a Flexible Retirement Plan, let Advantage FCU help you choose your savings account.

Advantage FCU offers many types of Rochester, NY Savings Accounts for your convenience; Basic, Holiday Club, Spread-the-Check, Money Market, Money Market PLUS, Vacation Club, Share Certificates, and I.R.A’s.

Basic

FREE

When you become a member of Advantage FCU, you automatically have access to a Basic (Share) Savings Account.   To open an account you will need a deposit of $5.00. There is no minimum balance to maintain. Funds can be deposited or withdrawn at your discretion.

Deposit Rates


Holiday Club

Plan Ahead

It’s easy to plan ahead with Holiday Club! Be prepared for year-end spending with a convenient Holiday Club savings account that earns dividends. Shop with confidence and know exactly how much you have available to spend, before you shop. With a Holiday Club account there is no need to worry about post-holiday bills.

Have a specific amount deducted from your paycheck so when October arrives, just in time for year-end planning, all the money you’ve accumulated in your Holiday Club savings will be transferred to your checking account. Start your account anytime, but the sooner you do, the bigger the savings.

How it Works: If you are paid twice a month and automatically deduct $20 from each paycheck into your Holiday Club, that would give you $520 to spend on STRESS-FREE holiday shopping! There is no minimum balance to maintain.

Deposit Rates

* If you withdraw from your account before October 15th, you will be charged a fee as disclosed in the Service Charges. However, no fee will be charged if the withdrawal occurs within seven (7) days of the date the account is opened.

Spread-the-Check

Pre-Plan

Spread-the-Check provides you with the ability to save automatically through payroll deduction with each pay period. Your money will then be available to use for a variety of options during the summer months.

Many of our members use this service to manage their cash flow during the summer months because they are paid on a 10-month basis. For these members, Spread-the-Check “spreads” their 26 pay periods by taking the funds deposited to their account through payroll deduction during their pay periods and dividing them equally over the summer months. A great way to plan and budget money!

How it Works:

  • Dividends will be calculated on actual daily balance and paid to the account quarterly at the then-current rate. The rate is variable and may change on a quarterly basis.
  • Funds will be disbursed at two-week intervals during the summer months, beginning in July. At that time, funds will be made available automatically in your checking account (or savings account if you do not have a checking account), every other Friday.*
  • The 2023 distribution dates are 7/14/23, 7/28/23, 8/11/23, 8/25/23. We historically have chosen the distribution dates based on the last pay period for RCSD teachers.
  • Your payroll deductions will continue to be deposited to your Spread-the-Check account with each pay period. This means that the amount of each of your disbursements during the summer will differ.
  • Payroll deductions and automatic transfer services are FREE!

Deposit Rates

*There will be a service charge of $5.00 for each unscheduled withdrawal from your Spread-the-Check account during the year. (The $5.00 service charge will be waived if you withdraw the entire balance of your Spread-the-Check account as a lump sum during the summer distribution time frame, July through August.)

Super Saver

High Yield Savings

The NEW Super Saver account allows you to maximize your savings- it’s like a money market only better.

Earn high dividends while you can access your money.  Save for all your tomorrow’s – today!

Deposit Rates

***Minimum balance required. Rates effective February 17, 2023. New money only. Balances less than $50,000 will not earn interest. Rates subject to change without notice. Membership subject to eligibility. Federally insured by NCUA.

Money Market

 Earn Dividends

If you want to earn higher dividends than our Basic Savings, a Money Market Account might be your best choice. Your funds are still accessible; you can have up to six (6) transactions per month*.

An Advantage Money Market Account will pay some of the highest dividends available for this type of account. Dividends are paid monthly and are calculated using the daily balance method. There is a $2,500 minimum balance required to open the account. If you are looking for a safe place to earn extra money, compare AFCU Money Market rates to the others!

Deposit Rates

*You may make no more than six (6) transfers or withdrawals from your account to another account of yours or to a third party in any method by means of preauthorized, automatic, internet transfers or telephone transfers, or by check, draft, or debit card. If you exceed these monthly limitations, your account may be subject to a fee or be closed. Balances below $2,000 are assessed a $5.00 monthly service charge. Fees may reduce earnings. The rates for the Money Market Account are variable and may change after the account is opened.

Money Market PLUS

Earn Even More Dividends!

Similar to our Money Market Account, the Money Market PLUS allows you to earn a much higher rate on your dividends. Although you are earning higher dividends, your funds are still accessible; you can have up to six (6) transactions per month*.

An Advantage Money Market PLUS Account will pay some of the highest dividends available for this type of account. Dividends are paid monthly and are calculated using the daily balance method. There is a $75,000 minimum balance required to open the account. If you are looking for a safe place to earn extra money, compare AFCU Money Market PLUS rates to the others!

Deposit Rates

*You may make no more than six (6) transfers or withdrawals from your account to another account of yours or to a third party in any method by means of preauthorized, automatic, internet transfers or telephone transfers, or by check, draft, or debit card. If you exceed these monthly limitations, your account may be subject to a fee or be closed. The rates for the Money Market Account PLUS are variable and may change after the account is opened.

Vacation Club

Plan

Be prepared for your vacation with a convenient Vacation Club savings account that earns dividends. With Vacation Club you can save money for your hotel room, travel-fare, expeditions, and much more! Shop with confidence and know exactly how much you have available to spent, before your trip to your paradise, so there will be no need to worry about post-vacation bills.

Have a specific amount deducted from your paycheck so when April arrives, all the money you’ve accumulated in your Vacation Club savings will be transferred to your checking account. Start your account anytime, but the sooner you do, the bigger the savings.

Deposit Rates


Share Certificates

Build

Share Certificates are a secure investment opportunity that helps you build your savings.  Advantage offers multiple terms, ranging from of 6 to 60 months.
Terms Available:

  • 6-11 Months
  • 12-17 Months
  • 18-23 Months
  • 24-29 Months
  • 30-35 Months
  • 36-47 Months
  • 48-59 Months
  • 60 Months

Deposit Rates


I.R.A.

Invest

Individual Retirement Accounts are an ideal way to save for retirement. Social Security and pension income may only provide about half of the income you will need for retirement. Advantage offers flexible IRA plans with no maintenance fees or commissions. Make saving easy by having a regular amount deducted from each paycheck. Your savings are federally insured and your balances will not be subject to losses from fluctuations in market value. Earnings are higher than regular saving accounts like the Money Market. If your retirement is far away, the sooner you start saving, the better!

Traditional or Roth IRAs are available in both Saving and Certificate options. Each type has its own unique benefits.

Traditional IRA Benefits:

  • Contributions (deposits) may be tax-deductible when you file your income taxes, therefore reducing your taxable income. (See your tax advisor)
  • Your earnings in a Traditional IRA are tax-deferred until they are withdrawn from your account. This means you won’t be charged taxes on these earnings until the time you take money out of your account.

Roth IRA Benefits:

  • Contributions (deposits) to a Roth IRA have already been taxed, so are not subject to future taxes as long as you stay within Roth guidelines and that contributions cannot be claimed as a tax deduction.
  • Earnings on a Roth IRA are tax free for qualified withdrawals, generally after age 59½ and your account has been open for at least five years.
  • Contributions (not earnings) can be withdrawn tax free at any time.
*Note, as of 2021, the maximum contribution allowed is $ 6,000 per year, with an additional $1,000 for members 50 years and older.  Consult your financial advisor about income verification.

IRA Rates