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Share Insurance Estimator

As a member of North Central Area Credit Union, “Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States  Government.”  NCUA has improved the online share insurance estimator tool used by members to calculate share insurance coverage.  Now you can keep track of your share insurance coverage and get quick answers to your share insurance questions.  To use the Share Insurance Estimator click here.

Certificate of Deposit

An important thing to look for when making your investment is compound interest. Your interest earnings grow because you continue to add to your investment.

When investing your money always remember the more you put into a CD and the longer you invest it …the more money you will make. When locking in to CDs, keep in mind that there is a fee for early withdrawal.

When you open a CD at North Central, you can earn above market rates and feel secure with NCUA insurance, getting the best of both worlds.

Ask for our CD Bonus Rates with your Checking Account – you’ll rest easy knowing you’re earning the most for your month! Add .25%* to any CD Rate by having an active checking account.

Money Markets

Money Markets are savings accounts that have a higher rate of interest and are mostly beneficial to those who want to save a large portion of money. The Money Market account interest is paid monthly.

Money Markets are considered a liquid asset, unlike CD’s that have time commitments and penalties for early withdrawal. The money market accounts can have withdrawals or deposits at anytime as long as the transaction amount is at least $250.

Check out our great Money Market rates on our rates page.


Health Savings Accounts are tax-favored individual investment accounts that allow eligible members to make tax-deductible contributions and accumulate tax-deferred earnings. Account owners can make tax-free withdrawals from their HSAs to pay medical expenses that are not covered by insurance.

Account Overview:

  • No minimum balance requirements — with no opening, maintenance, or transaction fees.
  • Earn a competitive .50% APY*.
  • Enjoy a free Debit Card, and unlimited transactions.
  • Monitor funds, make transfers, and track balances via Online and Mobile Banking.
  • Track expenses with convenient eStatements.
  • Funds roll over each year and grow until retirement.
  • Earnings are tax-free when used for a qualified medical expense.
  • At age 65, withdrawals from an HSA can be made for any purpose (beyond medical expenses), subject to normal income taxes.

Qualified Expenses:

  • Doctor’s office visits
  • Prescriptions
  • Vision expenses
  • Dental expenses
  • Long-term care insurance

Earn a .50% APY*

You’ll earn interest on your HSA Checking Account, paid monthly. So as you gain valuable tax benefits today, you also receive a competitive return on your money.

Contribution Limits:

  • $3,650 single coverage
  • $7,300 family coverage

Individuals age 55 and older may be permitted to make an additional $1,000 “catch-up” contribution.

Funds Are Never Forfeited.

Unlike other types of tax-favored accounts, such as Flexible Spending Accounts (FSAs), the money in your HSA Checking is yours — with no “spend it or lose it” stipulation. HSA funds can be used for non-medical expenses, but the funds will be subject to income tax and a 20% IRS penalty. (Penalty does not apply after age 65).

We recommend you save all HSA transaction receipts. If you have specific questions, please consult your tax advisor.


North Central offers Traditional and Roth IRA’s, Coverdell ESA, and HSA accounts. Depending on your saving needs one of these accounts may be what you are looking for.

Traditional IRA

If you are looking to save on taxes now the traditional IRA may fit your needs. Traditional IRAs offer tax deferred earnings and the possibility for tax deductible contributions. These tax advantages make the traditional IRA a powerful tool in creating part of a balanced, long term retirement plan. You can contribute to a traditional IRA if you have earned compensation within the eligibility guidelines and you will not reach age 70 ½ by the end of the year. Earnings in a traditional IRA are not taxed until they are withdrawn.

Contribution limits to a Traditional IRA are $6,000.00 if you are under age 50; $7,000.00 if age 50 and over. However contributions cannot exceed earned compensation for the year.

In general, funds withdrawn from the Traditional IRA before age 59 ½ incur a 10% tax penalty; withdrawals after age 59 ½ have no penalty.  When you reach 70 ½ you must start receiving required minimum distributions from the Traditional IRA. You are allowed to delay the first year’s payment until April 1 of the following year, but you will receive two years’ worth of payments in that year if you choose to delay.

Roth IRA 

If you don’t need the tax break now and flexibility is what your looking for consider a Roth IRA. Unlike traditional IRAs, contributions to a Roth IRA are never tax-deductible. However, the money in your Roth IRA, including earnings, can be withdrawn tax-free. Of course, you must conform to certain tax requirements to get this tax-free advantage.

Contribution limits to a Roth IRA are $6,000.00 if you are under age 50; $7,000.00 if you are 50 and over. However contributions cannot exceed earned compensation for the year. Unlike Traditional IRAs, contributions to a Roth IRA have no age limit. You are eligible if your income is less than the limit set by Congress and you earn compensation (or your spouse earns compensation and you file a joint return). If your income is too high to contribute the annual contribution limit, you may be able to make a smaller contribution. Check with a tax professional for current figures.

You can withdraw regular contributions at any time, tax-free and penalty -free. You don’t have to take mandatory distributions at any age. Earnings from the account are tax-free if account is open for five tax years and withdrawn for a qualified reason (age 59 ½, disability, death or a first-time home purchase)

Coverdell ESA

Coverdell ESA (formerly Education IRAs) is a savings plan to help you pay for your child’s education expenses. Every Coverdell ESA must have one, and only one, “responsible individual” to oversee the account. The “responsible individual” must be a parent or legal guardian of the child.

Contributions to the Coverdell ESA are never tax-deductible.  However, earnings are tax-deferred and distributions are tax-free if the money is used to pay qualified education expenses.  Total contributions cannot exceed $2,000.00 each year for each child. Anyone can contribute to the account if they meet the income limits: A single filer with Modified Adjusted Gross Income (MAGI) up to $110,000 or a joint filer with MAGI up to $220,000.

Withdrawals can be made by the “responsible individual” at any time for qualified education expenses including tuition, fees, books, and equipment required for enrollment or attendance at nearly any postsecondary educational institution. Funds must be used for the child (beneficiary) before the age of 30 (with exception to special needs beneficiaries).


*APY = Annual Percentage Yield. This offer is available for a limited time and can change or end at any time. Rates reflect a .25% bonus rate incentive. To receive the .25% bonus rate, the member must have an active Checking Account which includes a minimum of $250 ACH Direct Deposit monthly, an active Debit Card, and Online Banking with eStatements/eNotices. Interest is compounded and credited monthly. Penalties for early withdrawal, which will impact earnings. Minimum investment is $500; maximum investment is $250,000. Contact North Central for rates on deposits above $250,000. Cannot be combined with any other offers. Rates are not available to businesses. Other restrictions may apply; CD levels will be capped and the special terminated when certain deposit levels are reached. See North Central for details.