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

Save

 

Savings Rates

Current as of: 6/17/2018
Saving Program Balance Tier Dividend Rate Annual Percentage Yield1 Min. to Open Min. to Earn
Regular Savings $25,000 and above 0.45% 0.45% $25 $25,000
Regular Savings $10,000-$24,999 0.30% 0.30% $25 $10,000
Regular Savings $2,500-$9,999 0.20% 0.20% $25 $2,500
Regular Savings $100-$2,499 0.15% 0.15% $25 $100
Saving Program Balance Tier Dividend Annual Percentage Yield1 Min. to Open Min. to Earn
Holiday Club Savings n/a 0.45% 0.45% $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: 6/17/2018
Saving Program Dividend Rate Annual Percentage Yield1 Account Minimum Balance Account Maximum Balance
Launchpad Savings .45% .45% $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: 6/17/2018
High-Yield Savings Balance Tier Dividend Rate Annual Percentage Yield1 Min. to Open Min. to Earn
$200,000 and above 1.19% 1.20% $50,000 $200,000
$150,000-$199,999 1.00% 1.00% $50,000 $150,000
$100,000-$149,000 0.85% 0.85% $50,000 $100,000
$50,000-$99,999 0.75% 0.75% $50,000 $50,000
$0-$49,999 0.25% 0.25% $50,000 $10,000
1High-Yield Home-Grown 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.

 

Save

   
Comments (9)
Where to deposit
Jenn
 • 188 days 29 mins 40 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
 • 186 days 6 hrs 57 mins 37 secs ago

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

 

Where to deposit
Jenn
 • 188 days 29 mins 40 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
 • 186 days 6 hrs 57 mins 37 secs ago

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

 

OPENING DEPOSIT
Jennifer
 • 191 days 9 hrs 22 mins 23 secs ago
Is the 25.00 on hold to keep the account open?
 

Re: OPENING DEPOSIT
Dupaco Moderator
 • 188 days 9 hrs 42 mins 30 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
 • 505 days 6 hrs 10 mins 32 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
 • 503 days 9 hrs 48 mins 56 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
 • 577 days 18 hrs 33 mins 46 secs ago
When can I get my money out my holiday account?
 

Re: Holiday Account
Dupaco Moderator
 • 577 days 10 hrs 23 mins 52 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
 • 587 days 5 hrs 48 mins 51 secs ago
Is it possible to roll money from an IRA to an HSA?
 

Re: HSA Savings
Dupaco Moderator
 • 586 days 9 hrs 18 mins 36 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
 • 746 days 9 hrs 40 mins 51 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
 • 745 days 10 hrs 19 mins 42 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
 • 916 days 7 hrs 59 mins 47 secs ago
What is the interest frequency.
 

Re: Interest
Dupaco Moderator
 • 915 days 5 hrs 55 mins 34 secs ago

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

 

Dupaco savings account
Robert
 • 950 days 8 hrs 45 mins 32 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
 • 950 days 3 hrs 55 mins 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
 • 1073 days 19 hrs 2 mins 53 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
 • 1073 days 10 hrs 58 mins 41 secs ago

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

 

Post a Comment

Please provide your information. Name and email address are required. Email address will not be displayed with the comment.
 
Name:
Email:
Comment Title:
Comment:
 
Security:
Please enter the code shown in the image
 
 
 

Thank you. Your comment is being reviewed and if approved, will be posted shortly.