Savings

TRADITIONAL SAVINGS

START SAVING FOR YOUR TOMORROW

A traditional savings account is a basic deposit account offered by Fort Sill FCU to help you save money by providing a safe place to keep your funds and earn interest on your balance.
Fort Sill FCU strives to be your preferred provider for lifetime financial services. The best place to start is with a Traditional Savings Account. Upon meeting eligibility requirements, you can establish a Traditional Savings Account with only $5.00.

Traditional Savings Account Benefits

  • Safety: Savings accounts at Fort Sill FCU are insured by the National Credit Union Administration (NCUA) in the United States
    • Similar to the FDIC, the NCUA provides up to $250,000 in deposit insurance per account holder at Fort Sill FCU.
  • Easy Money Access: Fort Sill FCU members can access their savings accounts anytime through our online banking system via our virtual branch.
    • This makes it easy for you to manage your money no matter where you are!
  • Interest: Savings accounts earn interest on your balance that is calculated and paid to you on a regular based on your account’s interest rate.

    • Let us help you save for the future!

    Direct Deposit | Mobile Deposit | Deposit Cash

    We offer competitive dividends which are earned quarterly when your average daily balance meets or exceeds $25.00.

    Current Dividends

    If you live, work, worship or attend school in Comanche County, you may be eligible for membership.
    Become a member today and start experiencing the credit union difference.

    OPEN YOUR ACCOUNT

    For information regarding fees, please refer to our Fee Schedule

    Once you have established an account, you can take advantage of these beneficial offers and services:
    Checking Accounts | Online & Mobile Banking | Special Offers on Loans
    Credit Cards with Rewards | ATM/Debit Cards | Shared Branching


    IRA Accounts

    START SAVING FOR YOUR TOMORROW

    An IRA, or Individual Retirement Account, is a type of investment account that allows you to save money for retirement. At FSFCU, we offer two main types of IRA accounts: Traditional and Roth.


    Please consult a tax professional for an interpretation of current figures, information and how these rules apply to you.

    Traditional IRA Accounts


    A Traditional IRA offers tax-deferred earnings and the possibility for tax-deductible contributions. Earnings in a Traditional IRA are not taxed until they are withdrawn. The ability to defer taxes on earnings, and to withdraw in a year when you may be in a lower tax bracket, can mean more after-tax dollars for your retirement.

    These tax advantages make the Traditional IRA a powerful tool in creating a balanced, long-term savings plan.

    • Traditional IRA FAQ...

      Who can contribute?

      Anyone 72 who earns compensation from employment (or who is filing jointly with a spouse who earns compensation). Contributions cannot exceed compensation.

      How much can I contribute?

      If you are under age 50, your annual contribution limit is:
      $6,500.00 for Tax Year 2023 and $7,000.00 for Tax Year 2024.

      If you are age 50 and older, your annual contribution limit is:
      $7,500.00 for Tax Year 2023 and $8,000.00 for Tax Year 2024.

      Many people can deduct contributions on their tax returns. However, certain rules do apply.

      When can I withdraw funds from the IRA?

      In general, you must pay a 10% tax penalty on withdrawals before age 59½, but the early withdrawal tax does not apply in the following situations:

      Withdrawal of up to $10,000.00 for a first-time home purchase.
      Amount is used to pay for qualified post-secondary education expenses.
      Distribution is for medical insurance premiums during unemployment that lasts 12 weeks or longer.
      Distribution is to an owner who is disabled (as defined by the IRS code).
      Amount is used to pay for medical expenses in excess of 10% of Adjusted Gross Income (AGI).
      Payment is made to your beneficiaries after your death.
      Payment of a federal tax levy.

      Please consult a tax professional for a complete list of all exclusions.

      When must I begin receiving distributions from my Traditional IRA?

      You must begin receiving required minimum distributions from your Traditional IRA at age 72. The minimum distributions each year will be computed using an IRS formula.

      You are allowed to delay the first year's payment until April 1st of the following year, but you will receive two years worth of payments in that year if you choose to delay.

      Please consult a tax professional for an interpretation of current figures, information and how these rules apply to you.



    ROTH IRA Accounts


    Unlike Traditional IRAs, contributions to a Roth IRA are never tax-deductible. However, the money in your Roth IRA, including earnings, can be withdrawn tax-free. Of course, you must conform to certain tax requirements to get this tax-free advantage.

    To be eligible for a Roth IRA at Fort Sill FCU, you must have a specific earned income amount and meet income requirements. The contribution limit for a Roth IRA is the same as a traditional IRA and is subject to annual adjustments by the IRS.

    • ROTH IRA FAQ...

      Who can contribute?

      Anyone who earns compensation from employment (or who is filing jointly with a spouse who earns compensation) with income less than or within the applicable IRS limits. Contributions cannot exceed compensation.

      How much can I contribute?

      If you are under age 50, your annual contribution limit is:
      $6,500.00 for Tax Year 2023 and $7,000.00 for Tax Year 2024.

      If you are age 50 and older, your annual contribution limit is:
      $7,500.00 for Tax Year 2023 and $8,000.00 for Tax Year 2024.

      Note: Contributions to a Roth IRA are never tax-deductible.

      When can I withdraw funds from the Roth IRA?

      You can withdraw regular contributions without paying income tax at any time.
      There are two requirements to qualify for tax-free withdrawals of the income your Roth IRA has earned.
      The Roth IRA must meet the Five-Year-Test. In other words, it must be five years after the first year for which Roth contributions were made.One of the following conditions must apply:

      You are over age 59½.
      Funds are going to your beneficiary upon your death.
      You have become disabled.
      You are using the funds for a first time home purchase (lifetime limit $10,000.00 per person).

      What if I make a withdrawal from the Roth IRA and I am not age 59½ or covered by any exceptions?

      Unless an exception applies, earnings distributed before age 59½ are subject to the 10% early distribution tax.

      Do I have to receive minimum distributions at age 72?

      No. Unlike the Traditional IRA on the Roth IRA you are not required to receive minimum distributions at age 72. If you don't need the cash, you can let your money continue to grow tax-free for as long as you like.

      Please consult a tax professional for an interpretation of current figures, information and how these rules apply to you.

    If you live, work, worship or attend school in Comanche County, you may be eligible for membership.
    Become a member today and start experiencing the credit union difference.

    OPEN YOUR ACCOUNT

    For information regarding fees, please refer to our Fee Schedule

    Once you have established an account, you can take advantage of these beneficial offers and services:
    Checking Accounts | Online & Mobile Banking | Special Offers on Loans
    Credit Cards with Rewards | ATM/Debit Cards | Shared Branching


    CERTIFICATES

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    A certificate account is a savings account offered by Fort Sill FCU that offers our members a higher interest rate in exchange for locking up the funds for a fixed period of time. Our certificate accounts are a low-risk investment option that can help you earn more interest on your savings. These are NCUA insured, meaning that funds in the account are protected up to a certain limit.

    When you open a certificate account with Fort Sill FCU, you agree to keep a specific amount of money deposited in the account for a predetermined period of time. Terms can range from a few months to several years, with longer terms offering higher interest rates.

    With a variety of terms and required minimum amounts, there is sure to be a term to fit your needs. From 6 months to 5 years, our Certificate Accounts are a low risk savings option.

    IRA Share Certificates/Share Certificates Rates

    Prospective rates for , to ,

    Term Dividend Rate Annual Percentage Yield (APY**) Minimum Balance to Earn APY** Dividend Compounded
    6 Month $2,500.00 Monthly
    1 Year $2,000.00 Monthly
    2 Year $2,000.00 Monthly
    3 Year $1,000.00 Monthly
    4 Year $1,000.00 Monthly
    5 Year $1,000.00 Monthly

    Dividend rates and annual percentage yield rates are subject to change without notice. The annual percentage yield (APY) calculation assumes dividends are compounded monthly and remain on deposit until maturity. Withdrawal prior to maturity date will result in a substantial penalty. For current dividend rates and annual percentage yield rates, please Call or Contact Us. This credit union is federally insured by the National Credit Union Administration.

    If you live, work, worship or attend school in Comanche County, you may be eligible for membership.
    Become a member today and start experiencing the credit union difference.

    OPEN YOUR ACCOUNT

    For information regarding fees, please refer to our Fee Schedule

    Once you have established an account, you can take advantage of these beneficial offers and services:
    Checking Accounts | Online & Mobile Banking | Special Offers on Loans
    Credit Cards with Rewards | ATM/Debit Cards | Shared Branching


    MILESTONE YOUTH SAVINGS

    START SAVING FOR YOUR TOMORROW


    Level Up

    We want to encourage our young members to start saving and learning the basics of managing their own money.
    Take the first step of your financial journey with our
    Milestone Kids

    MILESTONE YOUTH SAVINGS!

    		Milestone Wizard

    At Fort Sill FCU, we want to encourage our young members to start saving and learning the basics of managing their own money. Opening a savings account for your child can:

  • Encourage Savings Habits!
    • Fort Sill FCU’s youth accounts can help children learn the importance of saving money from a young age. By depositing money into a savings account on a regular basis, kids can start to see how their money can grow over time!
  • Learn Financial Responsibility!
    • Managing a savings account can help children develop financial responsibility and decision-making skills. With Fort Sill FCU’s youth savings accounts, children can learn to set goals for their savings, track their progress, and make choices about when and how to spend their money.
  • Earn Interest!
    • Just like regular savings accounts, our youth savings accounts offer interest on deposits. This means your child can also earn money on their savings over time!
  • Building a relationship with Fort Sill FCU
    • Opening a youth savings account with Fort Sill FCU can help your child become familiar with the banking system and build a relationship with us! This can help them prepare for managing their finances as they get older.


    • With only a $5 deposit and no monthly fees, youths ages 17 and under may have an account of their own*. With a variety of online tools, financial education programs, scholarship opportunities and student loans, we understand that planning for the future needs to start early. We want kids and teens to get involved, educate themselves and start their own financial journey.
    *Conditions may apply. Speak with an associate for details.

     

    Banzai!™

    Banzai Financial Education

    FSFCU is proud to bring financial education to our community through Banzai, an award-winning and fun online curriculum used by over 150 teachers in Comanche County and over 30,000 teachers in all fifty states. FSFCU has helped educate over 11,000 students since 2014.

    More About Banzai...

    STUDENT FINANCES

    iManage Savings Accounts

    Education is a top priority for parents and teens. That is why we support our young members who seek higher education and need assistance with the cost. We offer scholarship opportunities and student loans from Sallie Mae®.

    Apply for a Scholarship
    Sallie Mae® Student Loans

     

    If you live, work, worship or attend school in Comanche County, you may be eligible for membership.
    Become a member today and start experiencing the credit union difference.

    OPEN YOUR ACCOUNT

    For information regarding fees, please refer to our Fee Schedule

    Once you have established an account, you can take advantage of these beneficial offers and services:
    Checking Accounts | Online & Mobile Banking | Special Offers on Loans
    Credit Cards with Rewards | ATM/Debit Cards | Shared Branching


    MORE SAVINGS OPTIONS

    START SAVING FOR YOUR TOMORROW


    Christmas Club


    A Christmas club account is a type of savings account offered by Fort Sill FCU to help you save for all your holiday expenses! When you open a Christmas club savings account, you agree to make regular deposits throughout the year, typically on a weekly or monthly basis. The funds from your Christmas club account are automatically transferred to your main checking or traditional savings account just in time for the holiday season!

    Christmas club savings accounts offer higher interest rates than traditional savings accounts and may offer bonuses or rewards for reaching certain savings milestones.

    Upon meeting eligibility requirements, you can establish a Christmas Club Account with only $5.00 and decide how much you want to tuck away for the holidays! Make regular deposits and start shopping for Christmas early to lessen the strain on your wallet during the holiday season.

    Armed Forces Financial Guide


    Understanding the financial needs of an active military service member can only be obtained by experience. That is why would like to offer you the Armed Forces Financial Guide. A comprehensive personal finance guide, written by seasoned military leaders who are intimately familiar with the challenges of life in the armed forces.

    ARMED FORCES FINANCIAL GUIDE

    Note: Due to file size, please allow the file time to load.

    If you live, work, worship or attend school in Comanche County, you may be eligible for membership.
    Become a member today and start experiencing the credit union difference.

    OPEN YOUR ACCOUNT

    For information regarding fees, please refer to our Fee Schedule

    Once you have established an account, you can take advantage of these beneficial offers and services:
    Checking Accounts | Online & Mobile Banking | Special Offers on Loans
    Credit Cards with Rewards | ATM/Debit Cards | Shared Branching