Savings & Investment
Saving for retirement? Planning a big vacation? Sending kids to college? No matter what your plans, Liberty Bay Credit Union can help you save for the future.
Liberty Bay Credit Union's Savings account establishes membership for the Greater Boston community, as well as voting privileges at the annual meetings. This account can be opened for as little as $5! Dividends are compounded daily and paid monthly. Deposits and withdrawals can be made in person, by mail, by payroll deduction, by transfer via MoneyLine or by wire transfers. You can also access your account through our ATM network.
Money Market Account
With a Money Market account from Liberty Bay, you earn money market rates every day that your balance is $2,500 or more. If your balance drops below $2,500, you will earn the dividend rate on our Regular Savings account. Dividends are compounded daily and paid monthly. Unlimited deposits can be made in person, by mail, payroll deduction, transfer via MoneyLine, and wire transfers. A minimum deposit of $2,500.00 is required to open a Money Market account.
We are excited to introduce three CD specials this year in honor of Liberty Bay's 100th Anniversary!
17 months | 1.50% coupon rate | 1.51% APY | $1000 in new money required to open
The "1917" CD:
48 months | 1.92% coupon rate | 1.94% APY | $500 required to open
The "2017" CD:
60 months | 2.02% coupon rate | 2.04% APY | $500 required to open
We offer an array of Certificates of Deposit available for terms ranging from 3 to 60 months. The rates on Certificates of Deposit are guaranteed for the term of the certificate, and dividends are compounded daily and paid monthly. The minimum deposit to open a 3-month to 18-month certificate with the credit union is $1,000 and the minimum opening deposit for a 24-month to 60-month certificate is $500. Early withdrawals of principal are subject to a substantial penalty. View all of our CD rates, terms and conditions here!
Individual Retirement Accounts (IRAs)
Setting aside money for your retirement or education needs? Liberty Bay CU offers a variety of traditional IRAs, Roth IRAs, and Education IRAs. No matter which IRA option you choose, saving with Liberty Bay Credit Union offers you two key advantages: there are no annual fees and your contributions and earnings are insured in full. Compare all of your IRA options here!
Christmas Club Account
Avoid higher rate credit card bills and fees in the new year. Start saving now for holiday spending with a Christmas Club account from Liberty Bay Credit Union. Dividends earned on these accounts are set at an annual simple interest rate and must remain on deposit for the entire year. Christmas Club funds will be automatically transferred to the credit union member's regular Savings account following the dividend posting on October 31 of each year. Deposits may be made in person, by mail, payroll deduction, or transfers.
Vacation Club Account
Does the idea of taking a vacation just seem like a dream? Whether your dream vacation is a month in Europe or two weeks with the kids in Florida, a Vacation Club from Liberty Bay makes your dreams a reality. Dividends earned on these accounts are set at an annual simple interest rate and must remain on deposit for the entire year. Vacation Club accounts can be opened at any time of the year and have a maturity date of one year from the day of opening. Deposits may be made in person, by mail, payroll deduction, or transfers.
Rainy Day Club Account
Need to put money aside for another purpose other than Christmas and a vacation? Open a Rainy Day Club Account and you can choose when you want the club account to mature - available terms range from 3 months to 60 months. The rate of your club account will be equal to the rate on the corresponding Certificate of Deposit. For example, if you select a maturity date of 3 months you will receive the same rate as our 3-month CD is earning!
For more information on any of these products, please call our Member Services department at (617) 439-6500. And remember, because we're a member-owned, not-for-profit financial cooperative, we return our profits to the members in the form of higher dividends on savings and investments - and lower loan rates. Click here to check out our current dividend rates!
*Savings refers to Liberty Bay Credit Union's Regular Share Account.