Share Savings Accounts
 You can save time and gas by setting up Direct Deposit of your payroll, retirement payments, government pensions and government checks into all of the accounts described below.<
- Saving Plans
- Accounts Federally Insured up to $100,000 by the NCUA
- Share Accounts (Savings Account)
- Christmas Club Accounts
- Special Club Accounts
- Dream Club Accounts
- Share Draft Accounts (Checking)
- Certificates of Deposit
- Traditional IRA (Individual Retirement Accounts) insured up to $200,000 by the NCUA
- Roth IRA (Individual Retirement Accounts) insured up to $200,000 by the NCUA
- US Savings Bonds
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Services
- Automated Response Teller (ART) a 24 hour 7 days a week phone access.
- ATM Cards
- VISA Debit Cards
- VISA Gift Cards $25 to $500
- VISA Travel Cards (coming in 2008) Reloadable Debit Cards
- Money Orders
- Golden Opportunity Books
- Discounts at Theme Parks
- Guarantee Asset Protection Insurance on Vehicles
- Life, and AD&D Insurance through CUNA Mutual
- Free Notray Services
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Choosing Accounts That Fit Your Needs
- Share Accounts Credit Unions named their members' depository accounts shares as a reminder of it is their equity investment in the the credit union.
Current rates on all accounts can be found on the side bar. All rates are subject to change and determined at the monthly meeting of the Board of Directors.
- Share Account Our Savings Account and this is your membership account (that's why it is named Share. You can build your savings in this account and withdraw from the account up to four times a month. The Minimum Balance of $20.00 is similar to a stock in a corporation. All members must maintian this balance because it represents your equal share of ownership in SMH FCU.
- Christmas Club The best way to beat the "January Christmas Credit Card Blues" is to open a Christmas Club Account. Saving $20.00 each payday you can accummulate $520.00 for Christmas presents. This account automatically transfers to your Share Account on the first business day of October. Just in time for the Christmas Sales Season. To keep your hands out of the cookie jar we assess a $20.00 fee for early withdrawal.
- Special Share Accounts
This account is used for the special reasons we save. Saving for a wedding, big screen TV, down payment for a home, tuition, even those dreaded Property Taxes stowing money in this account could be the right place. Payroll Direct Deposits can be set up to account for any amount over $5.00. Limited to 4 withdrawal per year before a $5.00 early withdrawal fee is assessed.
- Dream Account
This is our vacation account. Whether you're saving for a weekend away or lavish cruise, Vacation memories won't tarnish when you come back with no nasty bills to pay for after. Payroll Direct Deposits can be set up to account for any amount over $5.00. Limited to 2 withdrawals per year before a $10.00 early withdrawal fee is assessed.
- Checking
Also called "Share Draft" is your daily tranactional account. With our checking you may also receive a VISA Debit Card. Basic checking - This is for people who just use a checking account to pay some bills and perhaps use a debit card to pay some daily expenses. Our accounts does not require direct deposit or a minimum balance. There is a monthly maintenance fee of $2.00. You are not limited to a certain number of checks per month.
- Share Certificates
Certificates of Deposit, or CDs, are another excellent savings program available to you. CDs offer higher dividend rates and are set up for specific terms and specific minimum dollar amounts. If you don't need your money for a while, a CD is a great way to earn a higher return on your savings. SMH offers 3, 6, 12, and 24 month CDs.
- Traditional IRAs
A Traditional Individual Retirement Account) is a personal tax-sheltered retirement savings plan that allows you to save for the future. Contributions to this account may be tax-deductible and interest earned may be deferred until the funds are withdrawn.
High Dividend Rate
Not locked in for a certain time period
No set-up or closing fees
Contributions may be tax-deductable
Contributions can be made through payroll deduction
- Roth IRAs
A Roth IRA gives you an easy and safe way to plan for the future. Contributions to this type of IRA are not tax-deductible, but the money in your Roth IRA, including earnings, can be withdrawn tax-free. This type of IRA offers unique and exciting savings opportunities.
Contributions are allowed at any age
Flexible withdrawal options available
Qualified distributions are tax-free
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