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 of a not-for-profit financial cooperative that is focused on helping you achieve your personal financial goals. Our online application makes it easy to open your account and join Dupaco — in less than 10 minutes. Click below to get started!

Open an account

After your savings account is set up, you can skip a trip or phone call to the credit union by directly depositing your paycheck, pension, or benefit payments to your savings or checking account. You'll need Dupaco's Routing Number, 273974581, to set up direct deposit.

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.

Open an account now, visit any of our locations, or contact a member service representative at (563) 557-7600 / 800-373-7600, ext. 206.

Save

 

You Name It Savings: Systematically save for what you need or want by opening additional You Name It Savings Accounts. Name the account whatever you wish!

Health Savings: Members with high-deductible health insurance plans may be eligible for a Health Savings Account (HSA) to make tax-deductible contributions, earn tax-free dividends on contributions, and withdraw money tax-free for qualified medical expenses.

Youth Savings: Kids 12 and under with a savings account are automatically part of the DoPack Saver's Club

Holiday Club: Save all year long for the giving season. On October 31, the balance will be deposited into your checking account for your use (or your savings account if you do not have a Dupaco checking account).

Clubs & Organizations: Whether super-small or growing, Dupaco has an account solution that suits your needs.

High-Yield Savings Accounts: A completely liquid account paying higher than average rates. Please note, new High-Yield Savings accounts are not being opened at this time. Existing High-Yield Savings members may continue to make withdrawals from and deposits to their High-Yield account. However, if the High-Yield savings account is closed, it may not be re-opened until further notice. (Effective April 19, 2010)

   
Comments (6)
Holiday Account
Terrance
 • 64 days 18 hrs 56 mins 16 secs ago
When can I get my money out my holiday account?
 

Re: Holiday Account
Dupaco Moderator
 • 64 days 10 hrs 46 mins 22 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.

 

Holiday Account
Terrance
 • 64 days 18 hrs 56 mins 16 secs ago
When can I get my money out my holiday account?
 

Re: Holiday Account
Dupaco Moderator
 • 64 days 10 hrs 46 mins 22 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
 • 74 days 6 hrs 11 mins 21 secs ago
Is it possible to roll money from an IRA to an HSA?
 

Re: HSA Savings
Dupaco Moderator
 • 73 days 9 hrs 41 mins 6 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
 • 233 days 10 hrs 3 mins 21 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
 • 232 days 10 hrs 42 mins 12 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
 • 403 days 8 hrs 22 mins 17 secs ago
What is the interest frequency.
 

Re: Interest
Dupaco Moderator
 • 402 days 6 hrs 18 mins 4 secs ago

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

 

Dupaco savings account
Robert
 • 437 days 9 hrs 8 mins 2 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
 • 437 days 4 hrs 17 mins 30 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
 • 560 days 19 hrs 25 mins 23 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
 • 560 days 11 hrs 21 mins 11 secs ago

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

 

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