Savings & Investments

Young mother with child holding a pink biggy bank

Patterson Federal Credit Union has a savings product that's right for you.

There are plenty of reasons to save: retirement, a child's education, a special occasion or just the security of putting away money for the future. Whatever your reason, Patterson Federal Credit Union has a savings product that's right for you. Our savings accounts, certificates and IRAs offer competitive dividend rates and such convenient features as direct deposit and payroll deduction.

Check Deposit Rates

Share Savings

When you become a member of the credit union, a savings account is opened in your name. An initial deposit of $25 is required. All members must maintain a $25 balance in their savings account to remain a member, and demonstrate regular activity in their account to keep it open.

Other features of Regular Savings include:

  • Competitive interest rate paid quarterly on your average daily balance
  • Make up to three (3) savings withdrawals per month free of charge. After three (3) withdrawals in one month, a $5 charge per excessive withdrawal is applied.
  • Online account access
  • Quarterly statements by mail
  • Payroll Deduction & Direct Deposit


Christmas Club

A Christmas Club account is a smart and convenient way to save for the holiday season.

  • Pay-out November 1st of each year
  • Competitive Dividend Rate
  • No Minimum Balance Required
  • Quarterly statement
  • Payroll deduction for Automatic Deposits
  • There is no withdrawal fee if it occurs with 7 days of opening otherwise there is a $20 fee.

A $20 withdrawal fee is imposed if it occurs after seven (7) days of the date the account is opened.


Share Savings Certificates

Regular Savings Certificates

You can open a regular savings certificate with the following features:

  • Minimum balance of $500
  • Terms of six (6) up to 60 months
  • Fixed dividend for the term of the certificate
  • Competitive dividend rate
  • Interest paid quarterly

Bump Rate Savings Certificate
This is one way we put you in control of your financial future. This type of certificate allows you to enjoy the benefit of knowing that you will get our best rates.

You can open a bump rate savings certificate with the following features:

  • Minimum balance of $500
  • Terms of 36, 48, and 60 months
  • Any one time during the term the member can bump their interest rate to the current rate
  • Interest paid quarterly
  • Maturity date remains the same regardless of when bump is implemented

Individual Retirement Accounts

We offer Roth Individual Retirement Accounts that pay competitive market rates. Traditional IRAs are valuable long-term savings tools that can provide safety and security for you and your family. Your contributions can be deducted from your taxable income, reducing the income taxes you are currently paying.

  • Can be opened and funded without any employer participation
  • Contributions and/or earnings are tax-deferred until retirement
  • Possible deductions based on retirement plan participation and income
  • Provide full accessibility to your funds; 10% early distribution penalty if younger than 59 ½ years
  • Completely flexible as there is no minimum contribution in any year
  • Members under age 70 ½ years may contribute a maximum of $5K per year
  • Minimum amount required to set up Traditional IRA savings account is $500.

We are here to help

Young pretty college graduate

One of the greatest challenges facing Americans today is ensuring the financial well-being and security of your family throughout your retirement years. With uncertainty over the adequacy of social security growing daily, it’s increasingly necessary to rely on your own savings plans and resources to support your future retirement plans.

Yet another challenge is finding money for the impending college education expenses for your children. Tuition and other collegiate expenses are on the rise, so it’s a good idea to get a head start on saving for those expenses now, instead of getting caught unprepared later. Call today and let one of our experts help you find the right savings plan for your needs!