Savings

Regular Share Savings Account

Your Share Savings Account establishes your Parishioners Federal Credit Union membership. By opening a Share Savings account you give yourself access to all the other benefits of Parishioners Federal Credit Union membership. Click here to join now.

This is a savings account that is required to establish and maintain your membership with Parishioners Federal Credit Union. This account can be opened with as little as $10, your $5 membership fee and a $5 opening deposit, and has no monthly maintenance fee. Your funds are secure and just look at all the other features you'll enjoy with a Parishioners Share Savings Account:

  • Unlimited access with minimal or no fee depending on usage.
  • Dividends are calculated monthly on the daily balance and posted quarterly.
  • Ability to access information and perform transactions 24 hours a day using our online banking or voice response system.

Sub Account

Once you have established your membership with a Regular Share Savings, you may choose to open a Sub Account for just about any special purpose or savings goal.

Open your account with at least $5 and then choose a name to customize your account such as "Vacation Account", "My Wedding" or any other name that describes your goal.

Share Checking Account

This account earns dividends which are computed daily, compounded and paid monthly. Your funds are secure and you have access to your funds anytime either in person or by using checks, PAYSonline, your Debit or ATM Card or by using our Parishioners At Your Service (PAYS). Look at all the other features you'll enjoy with a Parishioners Share Checking Account:

  • First order of checks free with initial deposit of $500 or free checks to all members 65 and over (first order only).
  • Debit and ATM card access to checking account through ATM networks: CO-OP, STAR, PLUS system.
  • Deposits may be made automatically via Direct Deposit.
  • Overdraft protection available through automatic transfer from shares savings and/or money market accounts, or Cash Advance Line of Credit.

Parishioners Federal Credit Union ABA routing number is 322-281-031.

Money Market Account

A liquid, higher interest bearing account than our Regular Share Savings. Your funds are secure and the dividend rate paid by this account is tiered so accounts with higher balances receive a higher dividend rate. Interest is computed daily, compounded and paid monthly. This account has a minimum balance requirement of $2,500. Plus, look at all the other features you'll enjoy with a Parishioners Money Market Account:

  • Add to account as often as you like in any amount and allows up to three withdrawals per month.
  • Maximizes earnings through compound dividends. If balances drop below $2,500, dividends may be lower.
  • Can provide overdraft protection through automatic transfer to your Share Checking Account.

IRA Accounts

Your funds are secure and your contributions and earnings may be tax-deferred depending on which type of IRA you choose. No monthly contribution is required and you may invest in a variety of savings or certificate accounts designed to fit your needs.

We offer Traditional and Roth IRA share certificates each with a minimum opening balance of $1,000. Plus, all of the other great options come with all of the PFCU IRA accounts.

  • A $100 minimum balance to open our IRA share account.
  • No monthly fees.
  • Contributions may be made in "lump sums" or by regular deposits to the IRA Share throughout the year.
  • Dividends are paid quarterly.
  • IRA Share Certificates are also available with a minimum deposit of $1000 for Traditional and Roth IRA accounts; with terms available from 3 months to 5 years.

Share Certificates

Set aside savings for a pre-determined period at higher dividend rates. Your funds are secure and you may invest in Share Certificates with terms from 3 months to 5 years, which pay higher dividend rates than a regular share account. Dividends are compounded daily and paid quarterly. The minimum opening deposit for a Share Certificate is $1000. Look at all of the features you'll enjoy with a Parishioners Share Certificate Account:

  • No Fees. An early withdrawal penalty may be imposed if withdrawn prior to maturity.
  • Investments available from 3 months to 5 years.
  • Length of savings tailored to member needs.

To open a share Certificate, email us at members@parishionersfcu.org or contact us at 888-397-5111.

Christmas Club Account

A special interest bearing savings plan designed to make saving for the holidays easier. Your funds are secure and the annual term of the Christmas Club account runs from November 16 and ends on November 15 of the following year. On November 15 of each year the balance of the account is distributed to you before Christmas.

  • Unlimited access with minimal or no fee depending on usage.
  • Dividends are calculated monthly on the daily balance and posted quarterly.
  • Ability to access information and perform transactions 24 hours a day.
  • No minimum amount needed to open account or maximum deposit.
  • No service charges.
  • Account funds automatically mailed to you before the holiday season or deposited into your checking or share account.

Looney Tunes™ Savings Club

Parents, when you see how much fun your kids have learning to save money, you'll wish you could start your own Looney Tunes Savings Club account.

The Looney Tunes Savings Club is for kids up to 12 years of age. Membership is free; all they need is their own Parishioners Federal Credit Union account. New members receive a welcome kit complete with deposit slips, a Looney Tunes pencil, coinholder, and a welcome letter that has a detachable coloring contest entry sheet. When your child turns this entry in to us, they will receive a Baskin-Robbins gift certificate and have a chance to win a $25 "Toys R Us' gift card!

Call our office or apply online to open a Looney Tunes Savings Club account for your children, grandchildren, nieces, nephews, godchildren or other young loved ones. It's a gift that will grow with them.

First Checking

Take the first step in learning about basic money management by opening a PFCU First Checking account. With a minimum deposit of $20 and an adult co-signer, teenagers between the ages of 13 and 17 can open a First Checking account offering the following features:

  • No minimum balance
  • No monthly service fee
  • First set of basic style checks free
  • MasterMoney Debit Card
  • 24-hour online access
  • 24-hour Audio Response System

Click here to download a First Checking application or call us at 888-397-5511 to request one.

Traditional IRA

A traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions may be tax deductible in the year they are made. You can earn even higher dividends with an IRA Share Certificate. IRA Share Certificates are available with a minimum deposit of $1,000. Higher yields are available for larger deposits and longer terms. Plus, look at all the other features you'll enjoy with a Parishioners Traditional IRA Account:

  • Possible tax deductible contributions.
  • Tax deferred dividends until withdrawal.
  • There are no fees for maintenance of an IRA.
  • Invest in a variety of Certificates: with terms 3, 6 months, 1,2, 3 years at a fixed rate or our IRA passbook account.
  • No penalty for withdrawals for special circumstances such as a first time home purchase or education expenses.
  • Customized distributions in the form of lump sums or monthly, quarterly or annual payments.
Accounts at Parishioners are federally insured up to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency.

Roth IRA

The Roth IRA is an account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, members who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA than from a traditional IRA. Unlike the Traditional IRA, there is no requirement to begin taking distributions at age 70 1/2.

You can earn even higher dividends with an IRA Share Certificate. IRA Share Certificates are available with a minimum deposit of $1,000. Higher yields are available for larger deposits and longer terms. Plus, look at all the other features you'll enjoy with a Parishioners Roth IRA Account:

  • Tax Free Income During Retirement.
  • Available to individuals who are enrolled in employer sponsored retirement programs or not eligible for traditional IRA. May be subject to AGI limitations.
  • You do not have to take minimum distributions at age 70 1/2.
  • Invest in a variety of Certificates: with terms 3, 6 months, 1,2 & 3 years at a fixed rate or our IRA passbook account.
  • Possible tax shelter for distribution from another IRA by meeting certain criteria. Please consult your tax advisor for details.
  • Allows accumulation for a non-working spouse.
  • Tax free withdrawals after a 5-year period for individuals age 59 1/2, or, for special cirumstances such as purchase of a first home, education expense, disability or death.
  • Customized distributions in the form of lump sums or monthly, quarterly or annual payments.
Accounts at Parishioners are federally insured up to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency.

Overdraft Authorization Form

Click here to download the PDF form

Your Funds Are Safe

At Parishioners, membership is more than just an account. It's a lifetime relationship. To protect your accounts and the lifetime relationship you entrust to us, we strive to achieve solid levels of financial stability.

By an act of Congress, this statement is now part of the new official symbol of the National Credit Union Administration (NCUA), which insures your share accounts with us.

It's the best guarantee you can get.
And, it just got better.

That same act of Congress increased share insurance for individual retirement accounts (combined with other self-directed qualified retirement plans). While other basic account ownerships remain at a $250,000 insured limit, individual retirement account (IRA) shares of each IRA owner are now insured by the NCUA - and therefore the United States - to the amount of $250,000.

This increased coverage for IRAs brings an opportunity to remind you that share insurance is defined by "ownership." And, each ownership is insured separately, so you could have several different accounts with us and be fully insured to amounts well in excess of the basic $250,000 limit.

Accounts at Parishioners are federally insured up to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency.




     
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2355 Crenshaw Blvd. Suite #100 Torrance, CA 90501   Phone: (310) 320-4588   Toll-Free: (888) 397-5111   Fax: (310) 320-2405