savingsThe economic realities of today find many increasing their efforts to save and make the most of the money they have. Whether you’re “staying the course,” rethinking financial goals and timelines, or have adopted a new financial focus, Sunmark’s savings options, when coupled with convenient services like direct deposit and online banking, can help you move forward on your saving plan!

Want to improve your finances? Feel free to call us at 866-SUNMARK, chat with us online, or stop by your local branch.

 


 

Banking with Sunmark is easy! If you live, work, worship, attend school, own a business, or volunteer in Albany, Rensselaer, Saratoga, Schenectady, Schoharie and Montgomery counties of New York, you can bank with us!

 

APPLY ONLINE TODAY!

Liquid Savings Options

Membership Savings Accounts

Sunmark’s Membership Savings Account offers more than a return on your savings, it opens the doors to all the benefits of banking with Sunmark! Open this account with as little as $.01. Maintenance charge free for six months, and future account maintenance fees are eliminated simply by keeping $100 or more in your Silver Savings (or maintain other Sunmark accounts).

Accessing your savings is easy by calling Sunmark’s Telephone Access Center, TAMI, or logging in to Sunmark’s Online Banking.  (Need more convenience? Open a checking account with a Sunmark debit card.)

Money Market Accounts

This tiered rate savings account positions your balances to automatically earn more when interest rates rise, or as your Money Market balances increase. Yet, it provides easy access to your savings with up to six withdrawals of $250 or more permitted each month. Open your Money Market Account with as little as $500* and use convenient services like direct deposit to help grow your savings!

*Subsequent deposits can be made in any amount.

Silver Savings Accounts

For those 62 or older who want freedom from fees and options to stretch their budget, Sunmark’s Silver Savings provides the opportunity to establish a Sunmark membership with as little as $.01. Maintenance charge free for six months, and future account maintenance fees are eliminated simply by keeping $100 or more in your Silver Savings (or maintain other Sunmark accounts).

On the go? Access your savings via Sunmark’s debit card, or by calling Sunmark’s Telephone Access Center, TAMI, or logging in!

Youth Savings Accounts

For children and students under the age of 25, Sunmark has developed products, resources and services designed to develop and encourage good money management and saving skills. As Youth Savings Account holders mature and take more responsibility for their money, Sunmark makes free online, mobile, and telephone banking services available to to these members.

Sunmark’s youth savings products provide the opportunity to earn a higher than average dividend, so establish a Sunmark savings account with as little as $.01 and no maintenance fees – ever! Contact us for more information about establishing a financial relationship that grows with the needs of those under 25.

Health Savings Accounts

A Health Savings Account, or HSA, allows you to pay for a wide range of healthcare expenses using pre-tax dollars deducted from your paycheck OR after-tax dollars that can be deducted from your annual tax return. HSAs are the only savings vehicle to enjoy a triple federal tax advantage with contributions, qualified withdrawals for medical expenses, and dividends on HSA balances being tax-free.

HSAs are designed to encourage employers to offer health care benefits to staff members in the face of rising health care costs and to encourage consumer enrollment in health care benefits.

A High Deductible Health Plan (HDHP) carries a higher deductible, but can be paired with a Health Savings Account to offset health care expenses until the deductible limit is satisfied.

In exchange for assuming the responsibility for a set dollar amount of medical expenses each year (the deductible), individuals benefit from lower premiums, tax incentives, and greater control over how they spend their healthcare dollars. Further, the accounts are individually-owned, and therefore move with the individual as they change jobs, health plan carriers and locations.

Term Savings Options

Certificates

Interested in protecting your savings, AND maximizing the return on these dollars? Consider a sure thing – Sunmark Certificates. Offering a variety of rates and terms, there’s bound to be one that fits your needs. In some cases, there’s even the option to add to your certificate balance in increments of $250 or more up to the amount of your original deposit!

Of course you can choose how to collect the dividends earned on your account – reinvest your earnings, or transfer them to your checking or savings account.

Special Event Savings Accounts

Harness the power of direct deposit or automatic transfers to set aside and accumulate the funds you need for the holidays or an upcoming special event! Designed to help you meet your goal, withdrawals on these accounts are limited – up to four withdrawals or transfers per year from the special event account, while the Holiday Savings Plan allows just one withdrawal per year besides the automatic transfer of your funds into your savings account in October – just in time for holiday shopping needs!

Individual Retirement Accounts (IRAs)

Whether you’re looking forward to retirement or saving for a child or grandchild’s college savings fund, Sunmark offers a variety of IRA (Individual Retirement Account) options to meet your needs.

With traditional IRAs, Roth IRAs and Education IRAs (also known as Coverdell Education Savings Accounts or ESAs), we’re happy to work with you and your tax advisor to help you determine which account type is right for you! Take advantage of NCUA-insured traditional, Roth, and Education IRA options by calling or stopping by any branch.

Investments

Whether you’re looking forward to retirement or saving for a child or grandchild’s college savings fund, Sunmark offers a variety of IRA (Individual Retirement Account) options to meet your needs.

With traditional IRAs, Roth IRAs and Education IRAs (also known as Coverdell Education Savings Accounts or ESAs), we’re happy to work with you and your tax advisor to help you determine which account type is right for you! Take advantage of NCUA-insured traditional, Roth, and Education IRA options by calling or stopping by any branch.

Education Savings Plans

With recent market volatility, student loan programs and tax law changes on the horizon, if you’re feeling that it’s time to see if your child’s college savings program is on track, or it’s time to get started, you’re not alone.

Let our experienced staff help you understand where things stand and plot a course to take advantage of available college savings opportunities that make sense for your situation and goals. Call today to update or start your education savings plan!

Securities and insurance products offered through LPL Financial and its affiliates member FINRA/SIPC

  • Not NCUA Insured
  • Not Credit Union Guaranteed
  • May Lose Value

Sunmark Federal Credit Union is not a registered broker/dealer, nor is affiliated with LPL Financial.  Member FINRA/SIPC

Financial Planning offered through LPL Financial, a SEC Registered Investment Advisor.

* This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financials U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all the investments and services are available in every state.