Savings & Club Accounts        

 

Traditional Savings Account*
By opening a Savings Account, you establish membership at Liberty Bay Credit Union. You also become part owner, earning you voting privileges at our 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.

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Certificates of Deposit
Our certificates of deposit are 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. Visit our Dividends page to view available terms, APY, and minimum deposit requirements. Early withdrawals of principal are subject to a substantial penalty.

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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 Traditional Savings Account. Dividends are compounded daily and paid monthly. Unlimited deposits can be made in person, by mail, by payroll deduction, by transfer via MoneyLine, and by wire transfers. A minimum deposit of $2,500.00 is required to open a Money Market Account.

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Holiday (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 Traditional Savings Account following the dividend posting on October 31 of each year. Deposits may be made in person, by mail, by payroll deduction, or by transfers.**

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Vacation Club Account
Dreaming of a vacation? Let your dream become a reality with a 12 month Vacation Club Account. Open your account at any time, make deposits as often as you'd like, and in just one year, you can withdraw your balance and interest earned. Your account will earn interest at an annual simple interest rate and must remain on deposit for the entire year.

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Rainy Day Club Account
Need to put money aside for a purpose other than Christmas or 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 interest rate on the corresponding certificate of deposit. For example, if you select a maturity date of three months, you will receive the same rate our three-month CD is earning!

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For more information on any of these products, please call our Member Services Department at (617) 439-6500, or check out our current dividend rates!


*Savings refers to Liberty Bay Credit Union's Regular Share Account.
**0.10% APY (Annual Percentage Yield). Rate is subject to change at any time. Credit union membership is required. Holiday Club accounts may be opened between November 1 and December 31 of each calendar year.  Minimum balance to earn APY is $5.00. Maximum deposit amount is $10,000. Dividends earned on Holiday Club accounts are compounded daily and paid at maturity. Deposits may be made at any time in person; by mail; or by transfer. Deposits by automatic payroll deduction can be made monthly, biweekly or weekly. Funds must remain on deposit for entire year. Early withdrawal before Club account matures results in closing of Club account and forfeiture of all dividends earned. Club funds will be automatically transferred to member's Traditional Savings (Share) Account following the dividend posting on October 31 the following year.