Certificate Accounts & IRAs

The experts agree - your credit union is the ideal place to save for the future.

Certificate Accounts

Our Certificate Accounts are perfect for individuals looking for a low risk investment. These accounts earn interest without penalty as long as you do not withdraw funds before maturity. Open a Certificate Account today and watch your money grow!

All Certificate Account dividends are compounded and credited monthly and at maturity. The dividend period is a calendar month. Rates and terms may vary.

Flex Certificates
A Flex Certificate rate can be increased one time when the Certificate Account two (2) year term rate exceeds the Flex Certificate account initial rate. The minimum opening deposit requirement is $2,500.00.

Plus Point Certificate
To open a Plus Point Certificate account you must open five certificates, one for each term. The minimum opening deposit requirement for each certificate is $1,000.00.

Individual Retirement Accounts

Our Individual Retirement Accounts are perfect for individuals who want to save for retirement while reducing their tax burden. IRA Savings Accounts can be opened with as little as $5 and IRA Certificates have a minimum opening deposit of $1000. You can set up an internal transfer or add any amount up to the maximum allowed per person per year.*

BFCU charges an early withdrawl penalty for breaking the term.*** However, the IRS imposes a penalty for early withdrawl and allows only one rollover every 365 days.

All IRAs are insured separately by the NCUA. The current law provides up to $250,000 of protection for the combined total of Tradition and Roth IRAs.

Traditional IRA
A Traditional IRA allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions are tax deductible in the tax year they are made.

Roth IRA
A Roth IRA allows non-deductible contributions, but features federal income tax-free withdrawals for certain distribution reasons after a five-year holding period. Individuals who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA.

Coverdell Educational IRA

Our Coverdell Educational IRAs are perfect for parents and guardians who want to save for future educational expenses. The Coverdell IRA can be opened with as little as $5, for a list of qualifying educational expenses visit, irs.gov.

One Coverdell Educational IRA can be opened per child up to age 17, and a non-deductible contribution can be made by a parent, grandparent or responsible party. Maximum contribution is $2,000.00 per year, per child.