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Would you like the convenience of saving for your real estate taxes or your personal income taxes? If so, this is the account for you. This special account allows you to prepare for those tax bills. If you bring in your tax bill the credit union will pay it for you free of charge (CHECU will waive the bank check fee and apply first class postage for the payment to reach its destination via US Postal Service). Funds are federally insured by the National Credit Union Administration (NCUA).
- Sole purpose of this account is tax liability management
- Deposit schedule and amount is based on the annual real estate tax bills and/or income tax liability
- Funds are transferred/released directly to the tax payee
- May open account at any time through out the tax year
- No withdrawals allowed except with valid tax statement
- May view account balance and transactions online but can not access funds
- Earn dividends regardless of amount
- Earns dividends quarterly on average daily balance (March, June, September, and December)
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