Savings

Enjoy all the advantages of Wymar membership by opening a Membership Savings Account with an initial deposit of only $5.00. Your membership also establishes a lifetime of financial benefits, including:

• Once a member, always a member – you can keep your account open even if you switch jobs or move away

• Quarterly dividends paid using the average daily balance method

• Funds are insured up to $1,000,000.00 - Federally insured up to $250,000.00 by the NCUA and privately insured up to an additional $750,000.00 by ESI

• Build credit when you use savings as collateral for a Share Secured Loan

• Invite your immediate family to join us, too – your membership opens the door for them! 

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Save throughout the year for a happy holiday!

• Set up direct deposit from your payroll or automatic transfers from your other accounts

• Save all year round, and we’ll transfer the balance in your account to your Membership Savings Account on October 1

• Earn dividends while you save!

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Whether you are saving up for education expenses, vacations, insurance, or a rainy day, you can open additional savings accounts to keep on track. All of our savings accounts have the following benefits:

• Quarterly dividends paid using the average daily balance method

• Funds are insured up to $1,000,000.00 - Federally insured up to $250,000.00 by the NCUA and privately insured up to an additional $750,000.00 by ESI

• Use savings as collateral for a share-secured loan

• Use It’s Me 247 online banking to name each account for budgeting and tracking ease

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Invest wisely and securely for your future with a Wymar FCU IRA. Every dollar you contribute builds upon your retirement savings and provides for a financially sound tomorrow. The following IRA investment options are available:

Wymar FCU offers both Traditional and Roth IRA plans. You choose how you want to invest your funds: in an IRA Savings Account or IRA Share Certificate. If you would like to transfer funds from an existing IRA or retirement plan into an IRA Savings or IRA Share Certificate, call (225) 673-7191 for more information.

*Remember every tax situation is different, and you should consult your tax advisor on deductibility of IRA contributions.

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When you open a savings account for a child 10 years old or younger, we will deposit the first $25.00!

Which Youth Account Is Right for You and Your Child?

Wymar Youth Account (Child Can Access)

• I want my child to have access to the funds and to be able to make deposits (such as birthday money or earnings from a job)

• When my child is old enough, I’d consider letting him or her have a checking account with a debit card on this account

• I want to be able to add more than one adult on this account with my child

• I am looking for an account that will help my child learn about saving with opportunities for prize drawings and other promotions throughout the year

Louisiana Uniform Transfer to Minor Account (Adult is the Custodian)

• I want an account to benefit my child, but I don’t want my child to have access to the funds

• I want an account that I control in order to save for college or a car for my child

• I am ok with an account that can only have one adult on it as a custodian

• I want an account that is “locked down” until I come into the credit union with my child to transfer the funds to a brand new account opened in his or her name

• I only want a savings account and will never require checks or a debit card for this account

Ready to open your child a savings account? All you need is to submit a new membership application here and a copy of their Social Security card plus one other form of ID such as a birth certificate, health insurance card, report card, or school ID. You’ll be glad you did!

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Take advantage of higher rates and a low minimum deposit of $1,000.00 by opening a Wymar Share Certificate today.  

• Choose a term of 6, 12, 24, 36, 48, or 60 months and watch your savings grow

• Upon maturity, your certificate renews automatically. Simply contact us anytime we are open for business, and let us know if you’d rather the funds transfer into a different account at maturity

• May be used as collateral for low-rate share pledge loans, where you borrow against your own money and keep your savings intact

• Funds are insured up to $1,000,000.00 - Federally insured up to $250,000.00 by the NCUA and privately insured up to an additional $750,000.00 by ESI

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