Savings

Insured deposits
High dividends
Certificate and IRA options

Members all over the world trust us with their savings!

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We offer a variety of savings products to help you reach your goals.

Savings Accounts

Share Savings

These basic dividend-earning savings accounts are the backbone of our savings program. Share Savings accounts earn high dividends from the date of deposit to the date of withdrawal. Dividends are compounded and paid out each quarter.

A Share Savings account must be opened with a minimum deposit of $50. Subsequent deposits can be made in any amount. A minimum balance of $50 is required to retain your membership in the credit union.

Preferred Savings

A Preferred Savings account can be opened with as little as $50 and you can make additional deposits of any amount at any time. Funds in your Preferred Savings account will earn a higher dividend rate than in your Share Savings or Checking account. And, if you have a Preferred Savings account balance of $20,000 or more, you'll earn an even higher rate. (Dividend rates may change at the discretion of the Board of Directors.)

The Preferred Savings account is designed to be a true savings account and not a transaction account. You can make six free withdrawals from this account per calendar quarter. You'll be charged $10 for each additional withdrawal.

Premier Savings

The Premier Savings Account pays the highest dividend rate of all our savings accounts. A minimum deposit of $50,000 is required to open the account and six withdrawals per quarter may be made without penalty. Members may earn even higher dividend rates as balances grow.

Members who have an existing Preferred Savings account with a qualifying balance may convert the Preferred Savings account to a Premier Savings account. Members may have either a Preferred Savings or Premier Savings account, but may not have both products under the same account.

Effective Sep 1, 2019

Account	Min to Open	Min to Earn APY*	Dividend	APY*
Share Savings	$50	$50	0.10%	0.10%
Preferred Savings Up to $19,999 $20,000+	$50 $20,000	$50 $20,000	0.20% 0.30%	0.20% 0.30%
Premier Savings** 1st $50,000 2nd $50,000 next $150,000.00 next $250,000.00 - $99,999,999.99	$50,000	$50,000	0.30% 0.40% 0.50% 0.75%	0.30% 0.30-0.35% 0.35-0.44% 0.44-0.75%
IRA Savings	$50	n/a	0.75%	0.75%

Savings Account dividends are compounded and paid quarterly on the first day of the next dividend period. Dividend Rates and APYs are variable and are subject to change. Certain fees and charges may apply to your share account as disclosed in the current Schedule of Fees. Assessed fees may reduce earnings.
*APY=Annual Percentage Yield.
The Premier Savings Account is a tiered-rate account with different rates applied to the different tiers. Member must maintain at least $50,000 in the account to earn dividends on this account.

Certificate Accounts

Variable-Rate Certificate Accounts

Variable-rate certificates are share accounts that are held for specific terms, in exchange for higher dividend rates. There are penalties for withdrawal before the end of the term, but you can make additional deposits in any amount at any time.

Effective Sep 1, 2019

Variable-Rate*	Min to Open	Min to Earn APY**	Dividend	APY**
18-month term	$50	$50	1.65%	1.66%
3-year term	$50	$50	1.85%	1.86%
5-year term	$50	$50	2.35%	2.37%

*Early withdrawal penalties may apply. Certificates will automatically renew upon maturity unless otherwise stipulated by the member. Variable Certificate Account dividends are compounded and paid quarterly on the first day of the next dividend period. Must establish membership with Lafayette Federal Credit Union, or be an existing member. $50.00 minimum balance required to open and earn 0.10% APY** on Lafayette Federal share savings account balances. $5 minimum balance required to open and earn 3.03% APY** on LFCU checking account balances up to $3,000 and 0.025% APY** on checking balances over $3,000. Please visit LFCU.ORG/BIG3 for full checking account requirements.**APY=Annual Percentage Yield.

Fixed-Rate Certificate Accounts

We offer five-year, four-year, three-year, two-year, one-year or, for a limited time, a seven-month fixed rate certificate account at competitive rates. Fixed-rate certificate accounts are held for specific terms, in exchange for higher dividend rates. There are penalties for withdrawal before the end of the term.

Effective Sep 1, 2019

Fixed-Rate*	Min to Open	Min to Earn APY**	Dividend	APY**
7-month term***	$500	$500	1.75%	1.76%
1-year term	$500	$500	2.00%	2.02%
2-year term	$500	$500	2.25%	2.27%
3-year term	$500	$500	2.50%	2.52%
4-year term	$500	$500	2.75%	2.78%
5-year term	$500	$500	3.00%	3.03%

*Early withdrawal penalties may apply. Certificates will automatically renew upon maturity unless otherwise stipulated by the member. Fixed Certificate Account dividends are compounded and paid quarterly on the first day of the next dividend period. Must establish membership with Lafayette Federal Credit Union, or be an existing member. $50.00 minimum balance required to open and earn 0.10% APY** on Lafayette Federal share savings account balances. $5 minimum balance required to open and earn 3.03% APY** on LFCU checking account balances up to $3,000 and 0.025% APY** on checking balances over $3,000. Please visit LFCU.ORG/BIG3 for full checking account requirements. **APY=Annual Percentage Yield. ***7-month term Fixed-Rate Certificates are not available as an IRA.

IRA Services

Individual Retirement Accounts (IRAs) were created by Congress to help Americans create long-term retirement savings. No matter how far off retirement seems to be, it's a good idea to take advantage of our IRA services. To help you get the most out of your retirement dollars, we offer a competitive IRA program. You may choose from IRA savings accounts or Traditional or Roth IRAs or Coverdell Education Savings Accounts (formerly Education IRAs).

To open a new IRA with us, or to service an existing IRA, visit our IRA Service CenterOpens in New Window.

IRA Savings Accounts

Variable IRA accounts: These accounts have the same features as our Variable Rate Certificate accounts mentioned above. The only difference is that they are used to save for an IRA.

IRA accounts: The IRA account is similar to our Share Savings account, with dividends compounded and paid each quarter. Dividends are earned from the date of deposit until the date of withdrawal. There is no term on this type of account.

Fixed-Rate Certificate IRA accounts: These accounts have the same features as our Fixed Rate Certificate accounts mentioned above. The only difference is that they are used to save for an IRA.

IRA Program

Traditional IRAs

Annual contributions to this type of IRA may be partially or fully tax-deductible in the year in which they are made. Distributions from a traditional IRA are generally taxable upon withdrawal. To learn more, visit our IRA Service CenterOpens in New Window.

Roth IRAs

While Roth IRA contributions are not deductible during the year in which they are made, distributions can generally be taken tax-free. To learn more, visit our IRA Service CenterOpens in New Window.

Coverdell Education Savings Accounts

These accounts were created to help parents pay for the education of their dependent children. Designate an account for each child, and start saving early. Then you won't have to stress over a tuition bill when they turn 18.

Have Questions? Just ask.

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Lafayette Federal Credit Union is one of the premiere financial institutions in the Washington, D.C. area, now serving DXC and CSRA employees. Since our founding in 1935, we have sought to provide our members with a safe and convenient place to save, and to offer loans at rates and terms more favorable than those of other financial institutions. We also work hard to provide top-notch customer service. Contact us to obtain a copy of our Annual Report.