Savings & Checking

Savings & Checking

Regular Share Account

The first $5.00 deposit in this account represents your Credit Union share. This $5.00 must remain on deposit in order for you to use services and to vote for the Board of Directors.
This account is also used for the automatic transfer of loan payments, family transfers, insurance payments, mortgage payments, and transfers to other CP Federal accounts.
Your balance in this account earns a dividend which is computed on the average daily balance, and paid monthly.
There is a one time membership fee of just $1.00.

Health Savings Account (HSA)

With the recent changes in the health insurance industry and the rise of the High Deductible Health Care Plan we are now offering HSA Accounts.

CPFCU offers a competitive rate and easy debit card access to your HSA funds.

With an HSA account you can use pre-tax dollars to pay for future medical expenses.

You will be able to deduct your contributions to your HSA, and the account earnings will accumulate on a tax deferred basis.

Distributions from your HSA are tax-free if they are used for qualified medical expenses.

To qualify for an HSA you must select a high-deductible health care plan. The high deductible health care plan provides protection from catastrophic medical costs, and the HSA provides a source of funds to pay some or all of the costs not covered by the health plan.

You can contribute to your HSA at any time during the year and unlike contributions to a flexible spending account, the balance of your HSA at the end of the year is carried over to the next year.

Your HSA account is yours, so it will follow you wherever you go regardless of job changes.

Please contact us to learn more about HSA Accounts at CPFCU.

Great Expectations Savings for Ages 0-19

Savings account for your future.

Save money for your education, first automobile or first home.

Click here for details!

CP Money Tree

Save money easily with your CP Money Tree Account.

This interest bearing account allows you the flexibility of unlimited withdrawals and deposits.
The CP Money Tree Account is ideal for members who wish to save money for specific needs.

Super Cash

Earn higher interest with your CP Supercash Savings account for balances of $5,000 or more.
An interest premium is paid on balances of $20,000 and over.
You can make up to 6 withdrawals and/or transfers per month.
The interest rate is established monthly by the Board of Directors, computed daily and compounded monthly.
Visit our rates page for the most recent Super Cash Interest rates!

Independent Checking
Ages 18-25 (minimum age 16 with parent co-signer)

*Regular Share Account required

Non interest bearing checking account
No monthly maintenance fees
No per check fees
No minimum balance required
Free Home Branching online account access
Free Overdraft transfers from savings (must have share savings account first)
Debit card with free unlimited use of CPFCU and Co-Op Network no-surcharge ATMs Click here for No Surcharge ATM Locations
Discounted rates on consumer loans*
Free On Line Bill Pay

*Excludes VISA, Mortgages, Lines of Credit, Home Equity and Student Loans

Benefits Plus Checking

A checking account that delivers added value by offering discounts and savings on products and services that club members utilize every day. It's a checking account with the red carpet treatment and numerous ways members can save.

Benefits Include:

One FREE box of Benefits Plus style checks
FREE Home Branching and Bill Pay
Unlimited ATM usage
Higher rates on certificates (0.10% APY increase on current rates)
Discounted rates on consumer loans* (0.25% APR decrease on current rates)
$100.00 off closing costs on mortgage loans
$5.00 per month service charge

Additional Benefits for Golden Power Club Members Only:

One Free box of Benefits Plus style checks with every check order
FREE money orders
FREE travelers cheques
No annual fee for the VISA Classic (Ages 62 and over)
FREE wire transfers and check certification
FREE Medallion Signature Guarantee
$2.00 per month service charge (first year FREE)

*Excludes VISA, Mortgages, Lines of Credit, Home Equity and Student Loans

Benefits Plus Checking brought to you by Generations Gold!

FREEdom Checking

FREEdom from monthly service charges
FREEdom from per check charges
FREEdom from minimum balance requirements
FREEdom to have your payroll, social security check, or other incomes directly deposited into your account(s)
FREEdom to access your account by using our ATM card, MasterMoney Debit card, TellerPhone 24, and online inquiries through Home Branching
FREEdom to use any of the Family Service Center(s), located throughout Michigan to make deposits, withdrawals, transfers, inquiries, and consumer loan payments
Checkmate Overdraft Privilege

Checkmate Overdraft Privilege

Overdraft Consideration for Checking Accounts Exclusively for Eligible CP Federal Credit Union members. We will charge our normal non-sufficient funds or overdraft charge, as set forth in our fee schedules, for each item that would create an overdraft on your account. We are not promising to pay your overdrafts, not all accounts are eligible, and some restrictions do apply.

Avoid high charges from merchants for returned checks
New convenience and flexibility in managing your funds

Payment of Overdrafts will be considered for the following account types:

Freedom Checking - Overdrafts up to $800
Benefits Plus Checking - Overdrafts up to $800
Golden Power Club - Overdrafts up to $800
Business Checking - Overdrafts up to $1,500