Savings

Membership Savings

Your deposit of $5.00 or more into a Towpath Credit Union Share Savings account not only establishes your Membership but also gives you the opportunity to take advantage of additional Towpath Credit Union financial services. This $5.00 deposit will remain in your Membership Savings account as long as your Membership remains open.

Special/Additional Savings

Open additional savings accounts for any dream or savings goal you may have. Special share savings accounts are perfect for setting aside a little bit each month if you're trying to save for vacation or just want an emergency fund; a savings account makes it easy.

Holiday Savings

A savings account built just for that special time of year. Don’t be caught out in the cold when the post-holiday bills arrive. Contribute automatically throughout the year or as you can. The balance of the Holiday Savings account is then disbursed to you in early October automatically, just in time for Holiday shopping. Avoid holiday debt and regret by utilizing a Holiday Savings account.

Share Certificates

Share Certificates are fixed-rate term accounts that require one initial deposit that stays in the account until it reaches maturity (Funds may be redeemed early but with a penalty). These accounts will often offer the highest dividend rates.

Members, click below to log into digital banking and open your certificate now!

Open a certificate in digital banking

Money Market Savings

A money market savings account is a high-yield savings account. They often feature more options for withdrawals than a typical savings account, such as check-writing privileges. The funds in the account are liquid and so may be withdrawn, or more funds may be added into the account at any time.

Towpath CU’s Everyday Money Market Savings account requires no opening deposit, no minimum balance, check-writing privileges, and tiered dividend rates, which depend on the account balance.

IRA Savings and Certificates

Individual Retirement Accounts (IRAs) are long-term savings accounts that allow Members with earned income to save and take advantage of tax advantages* designed to help you save for retirement. Towpath CU offers both IRA Savings accounts as well as IRA Share Certificates.

Traditional IRA:

Earnings are tax-deferred (no taxes until withdrawn)*
Contributions may be tax deductible*

Roth IRA:

Earnings are pre-taxed, and withdrawals are tax-free if the account is open for five tax years and withdrawals are for a qualified reason (age 59 ½, disability, death, or first-time home purchase*).
Contributions are not tax deductible*.
You can withdraw regulation contributions at any time, tax-free and penalty-free*.

*Not intended as tax advice. Please consult a tax professional.