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).

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: 10/16/2018
Saving Program Balance Tier Dividend Rate Annual Percentage Yield1 Min. to Open Min. to Earn
Regular Savings $25,000 and above 0.50% 0.50% $25 $25,000
Regular Savings $10,000-$24,999 0.35% 0.35% $25 $10,000
Regular Savings $2,500-$9,999 0.25% 0.25% $25 $2,500
Regular Savings $100-$2,499 0.20% 0.20% $25 $100
Saving Program Balance Tier Dividend Annual Percentage Yield1 Min. to Open Min. to Earn
Holiday Club Savings n/a 0.50% 0.50% $25 $100
Saving Program Balance Tier Dividend Annual Percentage Yield1 Min. to Open Min. to Earn
Health Savings $25,000 and above 0.65% 0.65% $25 $25,000
Health Savings $10,000-$24,999 0.40% 0.40% $25 $10,000
Health Savings $2,500-$9,999 0.25% 0.25% $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: 10/16/2018
Saving Program Dividend Rate Annual Percentage Yield1 Account Minimum Balance Account Maximum Balance
Launchpad Savings .50% .50% $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: 10/16/2018
High-Yield Savings Balance Tier Dividend Rate Annual Percentage Yield1 Min. to Open Min. to Earn
$200,000 and above 1.39% 1.40% $50,000 $200,000
$150,000-$199,999 1.14% 1.15% $50,000 $150,000
$100,000-$149,000 0.90% 0.90% $50,000 $100,000
$50,000-$99,999 0.80% 0.80% $50,000 $50,000
$0-$49,999 0.25% 0.25% $50,000 $10,000
1High-Yield Savings: Dividends and annual percentage yields (APY) accurate as of the last dividend declaration date. $50,000 minimum balance to open and maintain the account. 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 member accounts only, commercial deposits are not accepted in the High Yield Savings Account. Maximum deposits limits may apply.

 

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Comments (9)
Where to deposit
Jenn
 • 308 days 12 hrs 18 mins 32 secs ago
I am interested in opening a Holiday acct. but where do I deposit? Can I automatically transfer from other institution?
 

Re: Where to deposit
Dupaco Moderator
 • 306 days 18 hrs 46 mins 29 secs ago

Hi Jenn, we will have someone from our Member Service department contact you about this. Thanks!

 

Where to deposit
Jenn
 • 308 days 12 hrs 18 mins 32 secs ago
I am interested in opening a Holiday acct. but where do I deposit? Can I automatically transfer from other institution?
 

Re: Where to deposit
Dupaco Moderator
 • 306 days 18 hrs 46 mins 29 secs ago

Hi Jenn, we will have someone from our Member Service department contact you about this. Thanks!

 

OPENING DEPOSIT
Jennifer
 • 311 days 21 hrs 11 mins 15 secs ago
Is the 25.00 on hold to keep the account open?
 

Re: OPENING DEPOSIT
Dupaco Moderator
 • 308 days 21 hrs 31 mins 22 secs ago

Hi Jennifer, yes, the $25 is kept on hold as it is your share of ownership in the credit union.

 

Signature Card
Tiffany
 • 625 days 17 hrs 59 mins 24 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
 • 623 days 21 hrs 37 mins 48 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
 • 698 days 6 hrs 22 mins 38 secs ago
When can I get my money out my holiday account?
 

Re: Holiday Account
Dupaco Moderator
 • 697 days 22 hrs 12 mins 44 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
 • 707 days 17 hrs 37 mins 43 secs ago
Is it possible to roll money from an IRA to an HSA?
 

Re: HSA Savings
Dupaco Moderator
 • 706 days 21 hrs 7 mins 28 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
 • 866 days 21 hrs 29 mins 43 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
 • 865 days 22 hrs 8 mins 34 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
 • 1036 days 19 hrs 48 mins 39 secs ago
What is the interest frequency.
 

Re: Interest
Dupaco Moderator
 • 1035 days 17 hrs 44 mins 26 secs ago

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

 

Dupaco savings account
Robert
 • 1070 days 20 hrs 34 mins 24 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
 • 1070 days 15 hrs 43 mins 52 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
 • 1194 days 6 hrs 51 mins 45 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
 • 1193 days 22 hrs 47 mins 33 secs ago

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

 

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