Savings Account at Priority Credit Union
At Priority Credit Union, we believe saving should be simple, flexible, and rewarding. Whether you’re building an emergency fund, planning for retirement, saving for a vacation, or preparing for the holidays, we offer a variety of savings solutions to help you reach your goals. From Basic Savings and Money Market Accounts to CDs, IRAs, and Club Accounts, our savings products are designed with competitive rates and convenient options to fit your financial needs.
| Basic Savings | Money Market | Certificate of Deposit (CD) | Individual Retirement Account (IRA) | Vacation Club | Holiday Club | |
|---|---|---|---|---|---|---|
| Primary Goal | Building foundational savings | Growing savings faster while retaining access | Secure, guaranteed growth | Saving for retirement | Saving for travel and getaways | Preparing for holiday expenses |
| Interest/Earnings | Dividends earned daily, paid quarterly | Tiered variable rates, paid monthly | Competitive fixed rates | Competitive rates with tax advantages | Dividends earned daily, paid yearly | Dividends earned daily, paid quarterly |
| Accessibility | Online, Mobile, Branch, etc. | Online, Mobile, Branch, etc. | Term-based (locked for 3 months to 5 years) | Flexible contributions; subject to annual IRS limits | Multiple convenient deposit options | Automatic transfer to share account each November; easy deposits |
| Minimum Requirements | $5 to open and maintain | No minimum deposit required | See CD terms for details | No mandatory monthly deposits | $5 to open, no minimum balance | $5 to open, no minimum balance |
| Unique Perks | Overdraft protection for checking | Overdraft protection for checking | Guaranteed return for the chosen term | Tax-deferred (Traditional) or tax-free (Roth) growth | Dedicated structure for travel funds | Automatically pays out in November just before the holidays |
Basic Savings
Your membership starts here. A Priority Credit Union Basic Savings Account is the foundation for building strong financial habits while enjoying convenient access to your money.
Key Features
Dividends earned daily and paid quarterly
Convenient deposit options including payroll deduction, direct deposit, online transfers, mail, mobile deposit, or in-branch
Easy access to your funds whenever you need them
Low Minimum Balance: Just $5 to open and maintain your account.
Overdraft Protection:** Use your savings to protect your Checking Account from overdrafts.
Money Market Accounts
Grow your savings faster while maintaining flexibility. Our Money Market Account offers competitive rates and easy access to your funds.
Key Features
Interest paid monthly
Competitive tiered variable rates
Convenient access to your savings
Overdraft Protection:** Use your Money Market Account to protect your Checking Account from overdrafts.
Certificate of Deposit (CDs)
Looking for a secure way to grow your savings? Priority Credit Union Certificates of Deposit offer fixed rates and flexible terms to help you reach your financial goals with confidence.
Key Features
Flexible term options from 3 months to 5 years
Competitive Rates: Enjoy competitive, fixed rates for the chosen term.
IRAs
Plan for a stronger financial future with a Priority Credit Union IRA designed to help you save for retirement at your own pace.
Key Features
Flexible monthly contribution options
No mandatory monthly deposits
Competitive rates to help your savings grow
Tax Advantages: Traditional IRAs offer tax-deferred growth, while Roth IRAs offer tax-free qualified withdrawals.
Contribute a maximum each year (double if you and your spouse file jointly), with higher allowable contributions over certain age limits
| Features | IRA Savings Account | IRA Certificate of Deposit |
|---|---|---|
| Account Description | The IRA Savings Account offers liquidity and flexibility. You can make additional deposits whenever you’d like and for any amount. | Fixed-rate, fixed-term IRA accounts. Automatically renew at maturity for a matching term at the current rate offered. |
| Dividend Rate | View Rates | View Rates |
| Minimum Opening Deposit | $5 | $500 |
| IRA Type Available | Traditional, Roth | Traditional, Roth |
Traditional IRA
Your earnings grow tax-deferred, so you won’t owe income taxes until you make withdrawals
Contributions are tax-deductible
Maximum age requirements for contributions may apply. See IRS website for more information on contribution requirements and limits.
Roth IRA
Earnings in a Roth IRA grow tax-free and are also tax-free when you make qualified withdrawals
Roth IRAs offer more flexible withdrawal rules
Early distribution penalties may be waived for medical, first-time home buying, and college expenses
As long as you meet the Modified Adjusted Gross Income (MAGI) limits, and as long as you’re working and have earned income, you can make contributions to a Roth IRA, even after turning age 70½
Roth IRAs do not require you to take required minimum distributions when you turn age 70½
Participation in an employer-sponsored retirement plan does not affect your Roth IRA eligibility
Maximum age requirements for contributions may apply. See IRS website for more information on contribution requirements and limits.
Contribution Amounts
Contribute up to $7,000 to a Roth IRA. If you’re age 50 or older in each tax year, you can make an extra $1,000 catch-up contribution
Contributions for the 2025 tax year ended on April 15, 2026
For the 2026 tax year, make contributions anytime between January 1, 2026, and April 15, 2027
Vacation Club Savings Account
Start saving today for the getaway you deserve. Our Vacation Club Savings Account makes it easy to set aside funds for your next adventure.
Key Features
Dividends earned daily and paid yearly
Multiple convenient deposit options, including payroll deduction, direct deposit, online transfers, mail, mobile deposit, or in-branch
A simple way to save for travel and special experiences
$5 opening deposit and no minimum balance required
Holiday Club Savings Account
Make holiday spending less stressful by saving throughout the year with a Priority Holiday Club Savings Account.
Key Features
Automatic transfer to your Share Account each November
Dividends earned daily and paid quarterly
An easy way to prepare for holiday expenses
$5 opening deposit and no minimum balance required
Make deposits through payroll deduction, direct deposit, by mail, through online fund transfers, or at any Priority branch location
Not a Priority Credit Union Member Yet?
Become part of a credit union that puts people first. At Priority Credit Union, membership means more than just opening an account — it means gaining a financial partner that’s committed to helping you reach your goals. From competitive rates and personalized service to convenient banking solutions and local support you can trust, we’re here to help you every step of the way.
If you live, work, worship, or attend school in Brevard, Lake, Polk, Seminole, Orange, or Volusia County, you are eligible to become a member. Find out more about membership eligibility and discover the difference of banking with a credit union that makes you the priority.
If you want help getting started, contact us at (407) 425-2561 or visit a nearby branch.
