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Saco Valley Credit Union
Mobile Banking App

Free - On the App Store


Saco Valley Credit Union
Mobile Banking App

Free - On the App Store

Open an account today! 207-282-6169

Certificates & IRAs

We care [about helping you save for the future]

Open an account today! 207-282-6169

Save More For the Future

Maximize your dividends by opening a share certificate or IRA certificate!

  • Certificate terms as short as 6 months and as long as 60 months
  • Enjoy higher dividend rates than a standard savings account


IRA and Share Certificate Rates

TermBalanceDividend RateAPY*
6 Months$500.00 - $49,999.990.90%0.90%
6 Months$50,000.00 and above1.04%1.05%
12 Months$500.00 - $49,999.991.39%1.40%
12 Months$50,000.00 and above1.54%1.55%
24 months$500.00 - $49,999.992.03%2.05%
24 months$50,000.00 and above2.10%2.12%
36 months$500.00 - $49,999.992.28%2.30%
36 months$50,000.00 and above2.42%2.45%
48 months$500.00 - $49,999.992.67%2.70%
48 months$50,000.00 and above2.81%2.85%
60 months$500.00 - $49,999.993.06%3.10%
60 months$50,000.00 and above3.15%3.20%

*The Annual Percentage Yield (APY) is accurate as of 3/20/2019. These rates may change at any time without prior notice. APY is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for a 365 day period. For share certificates and IRA certificates, the dividend rate and annual percentage yield are fixed and will be in effect for the term of the account. The annual percentage yield is based on an assumption the dividends will remain on deposit until maturity. A withdrawal will reduce earnings.
Rate Information. All Certificate Accounts are subject to a Fixed Rate. Your account will earn dividends according to the daily balance in your account related to the table above.
Minimum Balance Requirements. To open any account, you must deposit or already have on deposit at least the par value of one full share in any account. The par value amount is $25.00. The minimum balance requirements for IRA and Share Certificates is $500.00. If the minimum daily balance is not met each day of the dividend period, you will not earn the stated Annual Percentage Yield.
Transaction Limitations. After your account is opened you may make withdrawals subject to the early withdrawal penalties stated below.
Maturity. Your account will mature as stated on your Certificate of Deposit or Renewal Notice.
Early Withdrawal Penalty. We may impose a penalty if you withdraw from your account before the maturity date.
Amount of Penalty. For all Certificate accounts the amount of early withdrawal penalty for your account is the dividend amount for a period of half the term of the Account.
How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.
Renewal Policies. For Certificate accounts, your Account will automatically renew for another term upon maturity if you do not take any action. You have 30 days prior to maturity to notify us of the action you would like to take on your Account. You may withdraw funds in the Account without being charged an early withdrawal penalty on the day of maturity only.
Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your Account may not be pledged to secure an obligation of owner, except obligations with the Credit Union.
Nature of Dividends. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Compounding and Crediting. The dividend period is the Accounts Term. It begins from the date that your Account is opened and ends on the stated maturity date unless renewed, and dividends will be compounded daily and will be credited monthly. Your annual percentage yield assumes dividends will remain on deposit until maturity. A withdrawal will reduce earnings. Accrued dividends (less any early withdrawal penalty) will be paid when you close your Account.
Balance Computation Method. For dividend bearing Accounts, dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in Your Account each day.
Accrual on Non-cash Deposits. For dividend bearing Accounts, dividends will begin to accrue on the business day that You deposit non-cash items (e.g. checks) into Your Account. If you close your account before accrued dividends are credited, you will receive the accrued dividends that have been earned up to the date of closure.
Fees and Charges. Any fees and charges applicable to Your Account are disclosed separately in the “Fee Schedule”.

Safe, Secure Savings

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Frequently Asked Questions

An IRA account or IRA certificate is a great way to save for retirements and have various tax advantages. Call us at 207-282-6169 to discuss whether an IRA is right for you!
A share certificate is a savings certificate, very much like a CD (certificate of deposit), but it is issued by a credit union instead of a bank. A share certificate is straightforward in that you know what you are getting. You put a fixed amount in, and that will earn the given rate for the term of the certificate. There are penalties for early withdrawal, but there are also a number of different terms, both short-term and long-term, to provide you with the right term for your needs.

What It’s Like When Your Credit Union Cares

Financial Confidence

We are here to listen to your goals, needs, and struggles and then make recommendations for you that won’t break the bank!


Banking should be easy! With three branches and online and mobile apps, we try to make banking easy and convenient for you.


Sometimes life throws us a curve-ball and we need help. Saco Valley is your financial family. We want to help and will often have the tough conversations needed to help you get through a tough time.