CP Federal Credit Union is now offering an IDA program which will match your savings and allow eligible members to earn on every dollar saved toward the purchase of a home, (up to $1000).

IDA Matching Structure

• Home Purchase Savings accounts pay an additional 1.00% over our base savings rates
  
  
• The credit union provides $2 : $1 match for members who complete all program requirements (member save $1000, the credit union matches $2000 for a total of $3000)
  
  
• Matching funds are paid directly to the Title Company at the time of closing
  
  
• Limited number of accounts available 

Participant Requirements

• Participants must deposit a minimum of $25 per month into the designated CP Federal Credit Union account (no withdrawals allowed without program administer approval)
  
  
• Educational requirements- Obtain a certificate of completion of home ownership workshops offered by Jackson Affordable Housing (2-3 hour sessions)
  
  
• Time frame for participation, minimum of 6 months, maximum of 3 years

Members must meet all eligibility requirements. Some restrictions may apply. Limited number of accounts available, accounts will be approved on a first come, first serve basis.

For more information please contact Stacy Snyder at (517) 784-7101 ext. 4351.

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 by CLICKING HERE

Great Expectations Savings
Ages 0-19 (parent/guardian co-signer may be required)

• Savings account for your future.
  
  
• Education Savings Club
  
  
• First Auto Savings Club
  
  
• First Home Savings Club 

CP Federal Credit Union, Leading Financial Education! 
       for more information 

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 Super Cash Savings account for balances of $5,000 or more
  
  
• An interest premium is paid on balances of $20,000 and over
  
  
• 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

A S20 or Super Cash account is permitted to have up to six preauthorized or automatic withdrawals, telephone transfers, or transfers initiated by personal computer to another account at the same credit union or to a third party during a calendar month or statement cycle. Unlimited withdrawals are permissible when made in person.

Club Accounts

Plan ahead, save money for a special event in the year.

• No minimum balance required*
  
  
• Earns a higher rate of return than a regular savings
  
  
• Funds can be used for any purpose
  
  
• Flexibility of having the funds automatically transferred to your regular savings, or receiving a check in the mail on the role over date

Christmas Club

• Role over date of November 1st

Vacation Club

• Role over date of June 1st

*1 withdrawal per year allowed without having to close the account. Second withdrawal requires closing the club account.

Independence Checking
Ages 16-25* (parent/guardian co-signer may be 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 Online Bill Pay

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