Savings Accounts

We offer a variety of savings programs including Certificate Accounts, Money Market Accounts and Individual Retirement Accounts. Your money is safe at Cyprus. Accounts are insured up to $250,000.

Share Savings


Cyprus savings account dividends are declared, paid and compounded monthly. Your funds are available at any time and there are no penalties for withdrawals. A share savings account with a $5 minimum balance establishes your credit union membership.

Rates  Open a New Accountimage description

Special Share Savings

A share savings account you can name and save for a specific purpose. Open as many savings accounts as you'd like. Basically it's the equivalent of having an envelope to keep track of your savings. It's easy to keep track of these special savings account in Home Banking.

Certificate Accounts


A Certificate Account pays a higher interest rate than a savings account. Certificates are less liquid than a share savings account, meaning you must invest your money for a specific length of time: six months to five years. The longer the Certificates deposit time, the higher the interest rate. If you withdraw your money early, you pay a penalty. Cyprus Credit Union Certificates are federally insured to $250,000 by the NCUA. You can open a Certificate for $1,000 or more.

Rates  Open a New Certificate

 

Money Market Account

A money market account at Cyprus Credit Union is unique in that there is no minimum balance requirement, no monthly service charge and you can withdraw funds without penalty. Money market accounts also offer a higher rate of return than a share savings account. Dividends are declared, paid and compounded monthly.

Rates  Open a New Money Market

Dream CD

Rest easy knowing that saving money is now so simple. Open your Dream CD with just $1 and add any amount you choose while earning regular CD rates. Your deposits will be automatically transferred to your Dream CD every month or every paycheck. You must have an minimum automatic transfer of $10 per month. There is a $100,000 maximum balance per primary member.

Rates  Open a New Certificate

Ways to Fund Your Dream CD

Automatically deposit into your Dream CD while making your monthly loan payment. For example, if your loan payment is $300, pay $350 with an automatic payment or payroll deduction. Every month we'll put the extra amount in your Dream CD.

If you receive a raise or bonus from your employer invest your increase in a Dream CD

Save for your children or grandchildren. A Dream CD is perfect for college funds, weddings, down payment on a home, etc.

If you usually receive a tax refund you can adjust your W-4 withholdings to take out less each paycheck. You can then invest the difference in a Dream CD at a great interest rate rather than paying the government and receiving zero interest.

Fund an initial Dream CD deposit with part of your tax refund. If you Direct Deposit your Federal tax refund, you can split it into as many as 3 different accounts. Use IRA Form 8888. You will need our Routing Number (3243 77 202) and your account number.

 

Compare Accounts

Type of Plan
Share Savings
Certificates Money Market Dream CD
Recommended if you want... A regular savings account with a low minimum deposit and convenient access to your funds. A savings account with higher interest rates. Certificates are less liquid than a share savings account, meaning you must invest your money for a specific length of time: six months to five years. No minimum balance required, no monthly service charge and you can withdraw funds without penalty. Money market accounts usually offer a higher rate of return than a share savings account. A certificate account that lets you add to it monthly.  Open your Dream CD with just $1 and add any amount you choose while earning regular CD rates.
Minimum Opening Deposit & Term $5 $1,000
6 mo- 5 years
$0 $1
6 mo- 5 years
Fees None None None None
Interest Rate Current rate
• Declared, paid and compounded monthly
Current rate
• Declared, paid and compounded monthly
Current rate
• Declared, paid and compounded monthly
Current rate
• Declared, paid and compounded monthly
Withdrawals Up to six (6) withdrawals or transfers in a calendar month. Withdrawal at end of term.  Penalty incurred with early withdrawal Up to six (6) withdrawals or transfers in a calendar month. Withdrawal at end of term.  Penalty incurred with early withdrawal
Unique Features • Higher interest rate for balances of $10,000 or more
• Free automatic transfers
• Free direct deposits
• Free Online Banking
• Federally insured to $250,000 by the NCUA
• Higher interests than shares savings account
• Longer terms generate a higher interest rate
• Federally insured to $250,000 by the NCUA
• Higher interests than share savings account
• Higher balances generate a higher interest rate
• Federally insured to $250,000 by the NCUA
• Continually add to your certificate account at a fixed interest rate
• Longer terms generate a higher interest rate
• $100,000 cap per members
• Federally insured to $250,000 by the NCUA

 

Insured by the NCUA - Cyprus Credit Union is an independent member owned cooperative financial institution. Your savings are federally insured by the National Credit Union Share Insurance Fund (NCUSIF) to at least $250,000 and backed by full faith and credit of the United States Government.