Savings

What is a Savings Account?

In credit union language, a savings account is called a "share account." When you open yours at Dupaco with a minimum $25 deposit, you’re buying your share of ownership in the Credit Union. You’ll earn dividends on your savings above $100, and the money you deposit enables us to make loans to other Dupaco members, thus completing the cooperative circle. Plus, your deposits are federally insured for up to $250,000 by the National Credit Union Administration (NCUA).

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Open a Savings Bank Account at Dupaco

In becoming a Dupaco member, you are becoming a member-owner of a not-for-profit financial cooperative that is focused on helping you achieve your personal financial goals. And, as a way to say "welcome" to our youngest members, kids 12 or younger are automatically part of the DoPACK Kids' Club, Dupaco's Positive Action Club for Kids.

Our online application makes it easy to open your account and join Dupaco — in less than 10 minutes. Click below to get started, visit any of our locations, or contact a member service representative at (563) 557-7600 / 800-373-7600, ext. 206.

Open an account
Name additional savings accounts whatever you wish!

Whether it's for vacation, bills, an emergency fund or anything else, systematically save for what you need or want by opening additional You Name It Savings Accounts.  And don't forget about these other ways you can save and manage your money without thinking about it:

Open an account

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Savings Rates

Current as of: 7/27/2017
Saving Program Balance Tier Dividend Rate Annual Percentage Yield1 Min. to Open Min. to Earn
Regular Savings $25,000 and above 0.40% 0.40% $25 $25,000
Regular Savings $10,000-$24,999 0.25% 0.25% $25 $10,000
Regular Savings $2,500-$9,999 0.15% 0.15% $25 $2,500
Regular Savings $100-$2,499 0.10% 0.10% $25 $100
Saving Program Balance Tier Dividend Annual Percentage Yield1 Min. to Open Min. to Earn
Holiday Club Savings n/a 0.40% 0.40% $25 $100
Saving Program Balance Tier Dividend Annual Percentage Yield1 Min. to Open Min. to Earn
Health Savings $25,000 and above 0.45% 0.45% $25 $100,000
Health Savings $10,000-$24,999 0.30% 0.30% $25 $10,000
Health Savings $2,500-$9,999 0.15% 0.15% $25 $2,500
1Savings Rates: Dividends and annual percentage yields (APY) accurate as of the last dividend declaration date. The interest rate and annual percentage yield may change after account opening. Fees could reduce earnings on the account.
*S9 Escrow accounts must be opened and maintained by the credit union for any real estate loan with less than 20% equity. Escrow account dividends are subject to change at any time.

Launchpad Rates

Current as of: 7/27/2017
Saving Program Dividend Rate Annual Percentage Yield1 Account Minimum Balance Account Maximum Balance
Launchpad Savings .40% .40% $5 $1,000
1Launchpad Rate: Dividends and annual percentage yields (APY) accurate as of the last dividend declaration date. The dividend rate and annual percentage yield may change after account opening. Fees could reduce earnings on the account.
Limitations: If there is no deposit to this account in any 90-day period, account will be closed and the funds will be deposited, less the $5, into member's share savings. Once the balance reaches $1,000 you have 90 days to move the funds into a Dupaco, Dupaco Financial Services, or First Community Trust IRA. If the funds are not moved into one of these accounts within 90 days of reaching the $1,000 balance, the account will be closed and the funds will be deposited, less the $5 fee, into member's share savings. A $5 penalty applies for each withdrawal from this account. The penalty is waived if the funds are transferred to an IRA. This is not a retirement account and there are no tax benefits on this account.

High-Yield Rates

Current as of: 7/27/2017
High-Yield Savings Balance Tier Dividend Rate Annual Percentage Yield1 Min. to Open Min. to Earn
$200,000 and above 1.00% 1.00% $50,000 $200,000
$150,000-$199,999 0.80% 0.80% $50,000 $150,000
$100,000-$149,000 0.65% 0.65% $50,000 $100,000
$50,000-$99,999 0.50% 0.50% $50,000 $50,000
$0-$49,999 0.15% 0.15% $50,000 $1
1High-Yield Home-Grown Savings: EFFECTIVE 4/19/2010, HIGH YIELD SAVINGS NO LONGER IS OFFERED AS AN INVESTMENT OPTION AND MAY NOT BE OPENED. Existing High-Yield Savings members may continue to make withdrawals from and deposits to their High-Yield account and take advantage of the yields. However, if the High-Yield savings account is closed, it may not be re-opened (effective 4/19/2010).
Dividends and annual percentage yields (APY) accurate as of the last dividend declaration date. $50,000 minimum balance to open and maintain the account. Available for personal and business accounts and requires a minimum of $15,000 in new money to the credit union. Rates may vary after account is opened. Minimum daily balance to earn must be maintained each day to obtain the disclosed APY. Dividends are calculated daily and credited and compounded monthly. Programs, rates, terms, and conditions are subject to change without notice. Fees may reduce earnings on account. Available to individual and small business member accounts, only. Not available to investment companies and financial institutions. Maximum deposits limits may apply. In order to qualify for the High Yield Savings account members must maintain an active checking account with direct deposit (net check) and at least one electronic debit monthly OR have joined the credit union on or before 2/1/2010. If member fails to meet the aforementioned requirements this account will be closed and the funds will be transferred into the Regular/Asset Builder Share Savings account whereby current rates will apply.

 

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Comments (7)
Signature Card
Tiffany
 • 180 days 3 hrs 4 mins 18 secs ago
I am new to setting up a savings account, but do I need to provide my own signature card or does Dupaco give me one so that I can set up my savings account?
 

Re: Signature Card
Dupaco Moderator
 • 178 days 6 hrs 42 mins 42 secs ago

Hi Tiffany, Dupaco provides the signature card after the account is approved. We will have someone reach out to you.

 

Signature Card
Tiffany
 • 180 days 3 hrs 4 mins 18 secs ago
I am new to setting up a savings account, but do I need to provide my own signature card or does Dupaco give me one so that I can set up my savings account?
 

Re: Signature Card
Dupaco Moderator
 • 178 days 6 hrs 42 mins 42 secs ago

Hi Tiffany, Dupaco provides the signature card after the account is approved. We will have someone reach out to you.

 

Holiday Account
Terrance
 • 252 days 15 hrs 27 mins 32 secs ago
When can I get my money out my holiday account?
 

Re: Holiday Account
Dupaco Moderator
 • 252 days 7 hrs 17 mins 38 secs ago

Hi Terrance, if the account had a balance on Oct 30 it would have been paid out on Oct 30. If it's a new account, the balance can be withdrawn prior to the Oct payout, but then the account is essentially closed, as it is not intended to be a withdrawal account - instead its a deposit only account.

 

HSA Savings
Terrie
 • 262 days 2 hrs 42 mins 37 secs ago
Is it possible to roll money from an IRA to an HSA?
 

Re: HSA Savings
Dupaco Moderator
 • 261 days 6 hrs 12 mins 22 secs ago

Hi Terrie, we will have an IRA Specialist reach out to you. It is possible, but this is something that we highly recommend that you speak to a competent tax advisor about before proceeding with the transaction.

 

calculated interest formula
Tony
 • 421 days 6 hrs 34 mins 37 secs ago
what is the calculation on quarterly interest? (balance x .004 / 90 ) assuming .4% also if your in a money market account how would the equation differ?
 

Re: calculated interest formula
Dupaco Moderator
 • 420 days 7 hrs 13 mins 28 secs ago

Hi Tony, the formula used to calculate compound interest is A=P(1+r/n)^nt. There are two main differences between Regular Savings and Money Market. First, the rates are different. Secondly, Regular Savings compounds quarterly, and Money Market compounds monthly. If you have further questions, I would recommend that you give our Member Service department a call at 800-373-7600 / (563) 557-7600, extension 206, or stop into your nearest branch. Thanks!

 

Interest
Ian T
 • 591 days 4 hrs 53 mins 33 secs ago
What is the interest frequency.
 

Re: Interest
Dupaco Moderator
 • 590 days 2 hrs 49 mins 20 secs ago

Hi Ian, the interest on our savings accounts accrues daily and is paid out quarterly.

 

Dupaco savings account
Robert
 • 625 days 5 hrs 39 mins 18 secs ago
What is the current interest rate on the savings account and how much is required to earn interest or avoid any penalties on this account
 

Re: Dupaco savings account
Dupaco Moderator
 • 625 days 48 mins 46 secs ago

Hi Robert. $25 is required to open the savings account, and $100 to earn interest. The rate will then be .10%. The only way to incur penalties on the savings account is if you do over 6 withdrawals/transfers per month.

 

Savings Card
Jodie
 • 748 days 15 hrs 56 mins 39 secs ago
When you set-up a new savings account do you receive a money card or is that only for checking accounts? Thanks :-)
 

Re: Savings Card
Dupaco Moderator
 • 748 days 7 hrs 52 mins 27 secs ago

Hi Jodie, Moneycards are only issued to members when they open a checking account.

 

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