Share Account
This is our most basic savings account for people who want a safe, dependable place to keep their money. You can open a Bronco Share Account for yourself or your children with just $5, and with our competitive yields, you can watch that money grow over time.
A Bronco Share Account offers:
- Bronco Federal Credit Union membership
- Dividends posted and paid monthly
- Flexibility and complete availability to your money
- Convenient access through ATMs, Call24 and Online24
Important Notice: Federal regulation limits the number of withdrawals and/or transfers that may be made from a savings account by telephone/PC transfer, preauthorized transfer, check or debit card. You are limited to six (6) withdrawals and/or transfers from your savings account each monthly statement cycle by preauthorized transfer or telephone/PC transfer (including bill payments).
To start your Share Account, stop by any Bronco office and we’ll be glad to get you started.
Not a member yet? Give us a call today at 757.569.6000.
Share Certificates
If you’re looking for a solid method to grow your assets with a guaranteed yield, Share Certificates offer a great mid-level investment strategy. We offer a low minimum deposit and a number of term lengths so you can choose a commitment level you’re comfortable with, then sit back and watch your money grow. Of course, longer terms equate to higher dividends, but if you use a “laddering” method to stagger your investments, you can maximize your yield without tying up all of your assets in one basket.
“Laddering” Share Certificates
“Laddering” is a term that refers to breaking your overall investment into equal parts (or “rungs”) and staggering the term of each rung so you have a certificate maturing every year. Here’s an example of how it can work for you:
Suppose you have $50,000 to invest. Create your “ladder” by initially investing in five different $10,000 certificates, with each maturing at a different time (certificate one has a term of one year, certificate two has a term of two years, etc.). That way, at the end of each year for the next five years, you’ll have a certificate coming due. If you want to continue the process, at the end of the first year when the first certificate matures, roll it back into another five-year certificate. Then do the same in two years when your second certificate matures. Using this method, you’ll have a certificate maturing every year for as long as you continue the process. Again, this is a great way to ensure that you’re earning a guaranteed rate with a terrific yield year after year, without risk.
Bronco Share Certificates offer:
- A minimum deposit of just $1,000
- Convenient 6-, 12-, 24-, 36- and 60-month terms
- Higher dividend rates on longer terms
- Dividends that are paid quarterly and posted to the account quarterly
- The ability to apply your dividends back to the certificate or to another Bronco account.
Note: Certificates will automatically renew after maturity. You will have 10 calendar days after the certificate matures to withdraw funds without being charged an early withdrawal penalty. An early withdrawal penalty will apply if a withdrawal is made prior to the maturity date. However, you only pay a penalty on the amount that you withdraw from the certificate. In other words, if you have a $2,000 certificate and you need to take $500 out of it, you’ll only be assessed 25% ($500/$2,000) of what the penalty would be if you withdrew the entire $2,000.
To open your Share Certificate Account, stop by any Bronco office and put your money to work for you today.
Not a member yet? Give us a call today at 757.569.6000.
Money Market Account
Make your money work even harder without sacrificing safety or accessibility by opening a Money Market Account that offers higher yields than a Share Account.
A Bronco Money Market Account offers:
- Dividends compounded and credited to your account each month
- Higher dividend rates on higher balances (tiered rates
- The convenience of being able to make deposits anytime and withdraw money up to six times per month
- Easy access to funds through checks, ATMs, VISA® Check Card, Call24 or Online24
- Monthly statements
To open your Share Certificate Account, stop by any Bronco office and put your money to work for you today.
Not a member yet? Give us a call today at 757.569.6000.
