Savings & Investments
 •
Regular Share/Savings
• Share Draft/Checking
• Overdraft Protection
• Share Certificates (CDs)
• Traditional IRA
• Roth IRA
• Holiday Club Account
• Vacation Club Account
• Little Savers Club Account
• Duplicate Checks
• ATM Card
• Direct Deposit
•
Payroll
Deduction
Regular Share/Savings
Open your regular Share/Savings Account today with as little as $100. Earn dividends
on $100 or more and watch your money grow. You can also combine some of our other
servies with your Regular Share/Savings Account.
Share Draft/Checking
The Convenient, Money-Saving Way To Manage Your Money! Our Share Draft/Checking
Account is your money-saving alternative to traditional high-fee checking
accounts at other financial institutions. At NY Metro, you get all of
the standard checking benefits, plus the flexibility and outstanding no
fee savings you want to conveniently manage your money.
Automatic Overdraft Protection
Your credit union will automatically transfer funds from your Share Savings
account if your Share Draft/Checking balance does not cover the checks
you have written. There is a nominal $1.00 per transfer fee. You can also
establish an Overdraft Protection Line of Credit with no fees.
Share Certificates (CDs)
One of the best investments to consider is credit union Share Certificates.
They pay a high yield, are federally insured, and can provide you with
a liquid and worry-free investment. Plus, you can get started with $1,000
and enjoy terms ranging from six to 60 months. Dividends are calculated
daily and paid monthly.
Traditional IRA
IRAs offer higher contribution limits, allowing you the option to invest
more than you could in previous years. There is also a catch-up provision
for members age 50 and over. You can deduct your maximum contribution
on your tax return and defer paying taxes until you retire. Withdrawals
are permitted at age 59 1/2, and taxed as ordinary income.
Roth IRA
Your maximum contribution is not tax-deductible, but all future withdrawals
are tax-free and penalty-free if the account has been opened for five
years and you are 59 1/2 or older, or if you are buying your first house
(up to $10,000) or paying for a higher education.
You can also convert all or part of the Roth IRA if your combined income
is $100,000 or less in the year of the conversions. The amount you convert
is taxed as ordinary income. There are no conversion or penalty fees.
Holiday Club Account
You can always use a little extra cash for the holidays. Save a little
each pay period so you are ready for the next holiday season. Holiday
Club Accounts begin on October 1st and end on October 1st of the next
year. There is a $5 early withdrawal penalty.
Vacation Club Account
You work hard all year. Use this account to save a little on a regular
basis and get the vacation you deserve. You can start your Vacation Club
whenever you want to and you may close it whenever you need it.
Little Savers Club Account
It's never too soon to teach your children the importance of saving. Take
advantage of our Little Savers Club Account and watch your children learn
the value of saving and investing. Children 13 and under are eligible
for the Little Savers Club with their opening deposit of $5.00. This account
does not have any fees.
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