Use this quick reference guide to help move your finances over to Downeast Credit Union
This is the first account you will open at Downeast Credit Union. The minimum opening deposit is $5 and the balance can not go below that. The five dollars represents your share in the credit union, every member must have a Share Savings Account.
This draft account gives you total flexibility and liquidity as well as competitive rates. All that is required is that you maintain a $2500.00 balance. You may write up to six checks per month and there is no limit on over the counter withdrawals.
Share and IRA Certificates help you start planning for your future with only $500. The power of guaranteed, compounded interest growth then goes to work. The certificate rate is fixed at the time of deposit ranging in terms. Interest is compounded daily. Accumulated dividends are available monthly in one of two ways:
Use OurShare Certificate Calculator to plan for your future
Youth Savings Accounts can be opened with $5.00.
Individual Retirement Accounts (IRAs) are accounts designed to help you save for retirement. With a Roth IRA, earnings grow tax free and are also tax free when you make qualified withdrawals. With a traditional IRA, your earnings grow tax deferred, so you won’t owe income taxes until you make withdrawals. And if you’re eligible, your contributions are tax deductible.
You must have earned income for the tax year you are making a contribution for. You can open, or make deposits to, an IRA any time through April 15th for the previous tax year. Current year deposits may be made throughout the year. There are several IRA options at Downeast including Regular IRA accounts, Roth, Educational and IRA Certificates.
Christmas, vacation, taxes, or whatever you need a special savings account for, Clubs are a great way to serve your short-term savings needs.
This is a great way to get started saving for the future. See our Rate and Fee schedule for current information including penalties for early withdrawals.
A one-year product with a minimum opening of $2, and with at least a $2 per week deposit.
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Routing Number: 211288996
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