Savings

Pay yourself first and your future self will thank you. Saving doesn't always come easy. In fact, 70% of Americans have less than $1,000 in their savings account**. Let's work together to make sure you fall into the other 30%. 
 
Saving money requires discipline and hard work, which is why we offer options that make saving effortless. No matter your goal, we're in your corner.    
 

Regular Savings

Step 1 to becoming a Cornerstone member: Open a regular savings account. Start with as little as $10 and reap all the rewards of credit union membership.
 
Details:
  • Cornerstone Community Financial membership
  • Save time with 24/7 access to Online Banking and Mobile Banking
  • Immediate access to your hard-earned money with free direct deposit
  • Simple and automatic savings via payroll deduction
  • Earn dividends with a low minimum balance of just $50
 
 

Rainy Day Savings

Use this versatile savings account to finally set up that emergency fund, plan a family vacation, or, for a rainy day. 
 
Details:
  • No minimum deposit to open
  • Check on your savings progress anytime with 24/7 access to Online and Mobile Banking.
  • Automate your savings when you set up auto transfers and payroll deduction
  • Only $50 required to earn dividends (i.e. Earn more money!) 
 
 

Holiday Savings

Instead of dreading credit card bills in January, set aside a little each month and enjoy a debt-free holiday season. This savings tool allows for unlimited deposits, and withdrawals beginning on October 15th. Just in time to kick off the holiday season!
 
Details:
  • No minimum deposit to open
  • Check on your savings progress anytime with 24/7 access to Online and Mobile Banking.
  • Automate your savings when you set up auto transfers and payroll deduction
  • Only $50 required to earn dividends (i.e. Earn more money!) 
  • Cash withdrawals begin on October 15th. 
 
 

Individual Retirement Accounts (IRAs)

When it’s time to shift from labor to leisure, we’ll help you make sure your nest egg is ready with a personalized IRA account. We offer both Traditional and Roth IRAs, both of which provide a variety of tax advantages. Compare them and consult with your tax advisor to find the option that suits your current and future needs.
 
Features of Both IRA Accounts:
  • Tax-advantaged retirement savings**
  • Competitive dividends above standard savings rates
  • No setup fees
  • No monthly or annual maintenance fees
  • Contribute up to $5,500 per tax year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Federally insured by NCUA
 

Comparing Traditional vs. Roth IRAs

Traditional IRA
  • No minimum contribution per year
  • Contributions may be tax deductible**
  • Earnings are tax deferred until withdrawal
  • Early withdrawals are subject to penalty**
  • Penalty-free withdrawals can begin at age 59½
  • Mandatory withdrawals at age 72
Roth IRA
  • Contributions are NOT tax deductible
  • Earnings are tax deferred**
  • Contributions can be withdrawn without tax or tax penalty
  • Early withdrawals are subject to income tax and possible tax penalty**
  • No mandatory distribution age
  • Qualifying withdrawals are tax-free**
 
Questions? Connect with us and one of our team members will get back with you soon or stop in to one of our local branches.
 
**Consult a tax advisor.