Savings Accounts

Looking for the best savings account to help you save your money? LAFCU’s savings accounts come with these benefits:

  • Funds easily transferrable to other accounts
  • Save your money while earning competitive dividends
  • Other savings account options available
  • Deposits insured up to at least $250,000 per individual depositor by the National Credit Union Administration.

LAFCU offers a variety of savings accounts to help you save your money to meet your goals. Whether saving for the holidays or building retirement savings, we have the account you need.


Join LAFCU with a Regular Share Savings Account

To establish your Los Angeles Federal Credit Union (LAFCU) membership you need to first open a Regular Share Savings account with the following:

OPEN A SAVINGS ACCOUNT

Other Account-Opening Requirements

CHECK SAVINGS RATES


Money Market Accounts

We offer two Money Market options including a “Regular” account and an “Online Money Market” higher-rate account.* Both require a $2,500 minimum opening deposit with no term requirement, and retain the flexibility of a liquid savings account.

To open an Online Money Market account, visit online or mobile banking then click "Open an Account."

OPEN A MONEY MARKET ACCOUNT

* To receive the Online Money Market account rate: (a) You must open and maintain a LAFCU Checking account and during each calendar month, the account must have a combination of any five (5) of the following debit (withdrawal) transactions: ATM, Automated Clearing House (ACH), Debit Card debit or POS, Bill Pay, or Share Draft Checks; (b) You must sign up and receive online monthly LAFCU Online Statements; (c) You can access this account at no charge online via online banking, TouchTel-24, and with personalized Money Market Checks, and if you need to visit a branch or call our staff for a transaction, you can do that too, for a minimal fee (search “Consumer Fee” in “How Can We Help You?”).  If you do not maintain the requirements, your Online Money Market account will be changed back to our Regular Money Market Account for the entire quarterly dividend period, unless you re-apply and qualify for the Online Money Market.


Holiday Account

OPEN A HOLIDAY ACCOUNT 


Health Saving Accounts

Our Health Savings Accounts are designed to help you save money by providing an additional source of funding for any future medical expenses not covered by your regular medical insurance. To be eligible, you must be under age of 65; covered by a high deductible health plan; not covered by another health insurance carrier or Medicare; and not claimed as a dependent by another individual. To open this account3 today, call us at (877) 695-2328, or visit a LAFCU branch.

Benefits

OPEN A HEALTH SAVINGS ACCOUNT 

1To receive the Online Money Market account rate: (a) You must open and maintain a LAFCU Free Checking or Second Chance Checking account and during each calendar month, the account must have a combination of any five (5) of the following debit (withdrawal) transactions: ATM, Automated Clearing House (ACH), Debit Card or POS, Bill Pay, or Share Draft (checking) Checks; (b) You must sign up and receive monthly online LAFCU statements; (c) You can access this account at no charge online via online banking, TouchTel-24, and with personalized Money Market Checks, and if you need to visit a branch or call our staff for a transaction, you can do that too, for a MINIMAL FEE [LINK TO RATES PAGE]. If you do not maintain the requirements, your Online Money Market account will be changed back to our Regular Money Market Account for the entire quarterly dividend period, unless you re-apply and qualify for the Online Money Market.

2APR is Annual Percentage Rate; subject to change without notice.

One HSA per member. No minimum balance. Inherited accounts are still considered HSAs and are subject to no tax consequences unless unqualified withdrawals are made. Not intended as tax advice, please consult your tax advisor for details.


IRAs & Share Certificates

Individual Retirement Accounts (IRAs)

These share certificates can help you build retirement savings and are available for Traditional, Roth & Coverdell Education savings accounts. Each pays competitive dividends and requires a $500 minimum opening deposit with fixed terms from 3 to 60 months. To open an IRA, call (877) 695-2328 or visit a LAFCU branch.

Roth IRAs

  • Contributions are taxed
  • Earnings on your retirement savings and qualified withdrawals are tax-free
  • Penalty-free withdrawals begin at age 59½ if open 5+ years

Traditional IRAs

  • Offers potential tax deductions on contributions
  • Earnings on your retirement savings are tax-deferred until withdrawn
  • Distributions generally begin at age 59 ½ (mandatory at age 70 ½)

OPEN AN IRA

Coverdell Education Savings Accounts

OPEN A COVERDELL EDUCATION SAVINGS ACCOUNT

Share Certificates

Our share certificates offer high yields with flexible terms from 3 to 60 months. To open a share certificate, call (877) 695-2328 or visit a LAFCU branch.

Regular & Jumbo

  • Minimum deposits are $1,000 (Regular), or $100,000 (Jumbo)
  • Jumbos earn higher yields

Starter (if age 24 or under)

  • $100 minimum deposit
  • Additional deposits of $50+ are allowed until balance reaches $10,000

Senior & Senior Jumbo (if over 60)

OPEN A SHARE CERTIFICATE ACCOUNT


Savings Calculators

LAFCU’s Financial Calculators can help you determine ways to accumulate wealth, build retirement savings, and save your money to reach your financial goals.

SAVINGS CALCULATORS