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North Star Credit Union

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Business Investments

At the North Star Credit Union, we want our business members to be set up for success. As you plan for the future of your business, we are able to show you ways to optimize your finances and maximize your gains.

Preferred Share Account

No minimum balance required – No monthly fee – Higher interest bearing on larger dollar amounts

Deposit Amount Interest Rate (APY)*
$100-$9,999 0.10%
$10,000-$19,999 0.30%
$20,000-$39,9990.35%
$40,000-$99,9990.40%
$100,000 and up0.40%

*Annual Percentage Yield

Rates effective March 19, 2020 and subject to change without notice.

Money Market Share Account

Three free withdrawals per month; $10 per withdrawal above 3. Balance below $1,000 at any time is a service of $10 at the end of the month.

Deposit Amount  Interest rate (APY)*
$0 – $9990.00%
$1,000 – $9,9990.30%
$10,000 – $24,9990.35%
$25,000 and up0.40%

*Annual Percentage Yield

Rates effective March 19, 2020 and subject to change without notice.

Certificate of Deposit (CD)

Certificates are a secure solution to your savings.

Our terms range from 6 months to 60 months, the longer the term, the more you will earn. You can choose to have dividend payments compound or transferred to your account monthly, quarterly, semi-annually, annually, or at maturity.

Certificate Term Certificate Rates (APY*)
6 Months  0.35%
12 Months 0.60%
18 Months 0.70%
24 Months0.75%
36 Months0.75%
48 Months 0.90%
60 Months 1.00%

*Annual Percentage Yield

Rates effective March 19, 2020 and subject to change without notice.

 

Minimum Deposit of $500

 

Penalty for early withdrawal:

6-18 Month CD = 90 days, 24-60 Month CD = 180 days

 

Dividends Compounded Daily

 

Certificates will automatically renew at maturity unless redeemed. The renewed certificate will earn the current rate at the time of renewal.

Individual Retirement Accounts (IRA) Savings

Retirement should be a time to relax; North Star Credit Union wants to help you by making sure you have the money when you need it.

 

Share/Savings IRA Accounts

IRA Certificate of Deposits (current rates apply)

 

Traditional IRA

With a traditional IRA, you may invest up to the amount allowed by the U.S. Government, and contributions may be partially or fully deductible depending on your income and participation in an employer-sponsored plan. Withdrawals may not be made without penalty until age 59 ½ unless they are for higher education expenses or the purchase of a first home. Earnings are tax-deferred until withdrawn, and distributions must occur at age 70 ½.

 

Roth IRA

With a Roth IRA, you may also contribute up to the amount allowed by the U.S. Government. Contributions may be withdrawn tax-free anytime but are not tax deductible. Dividend income is subject to taxation, except after five years to buy a first home, or for any purpose after age 59 ½. Contributions from earned income can be made after age 70 ½, and mandatory distributions are not required.

 

IRA Certificate Rates

TermRate (APY*)
6 Month0.60%
12 Month0.85%
18 Month0.95%
24 Month1.00%
36 Month1.00%
48 Month1.00%
60 Month1.00%

Minimum Deposit of $500

 

Penalty for early withdrawal:

6-8 months = 90 days and 24-60 Months = 180 days

 

Dividends Compounded Daily

 

*Annual Percentage Yield

Rates effective March 19, 2020 and subject to change without notice.

 

IRA Savings

Minimum Balance     Rate (APY)*
$10 initial share deposit  0.50% Variable

*Annual Percentage Yield

Rates effective March 19, 2020 and subject to change without notice.

 

Consult a tax adviser for recommendations.

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Routing Number: 291273510

NMLS #: 407735

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North Star Credit Union

24 South River Street

Cook, MN 55723

Copyright © 2021 North Star Credit Union | Powered by North Star Credit Union

Dear Nashwauk members,

Due to issues with internet connectivity, the Nashwauk is still open, but is currently unable to take phone calls or answer emails. If you have any inquiries or need help, please call the main branch in Cook at (218) 666 -5940.

Thank you for your patience and we will keep you updated with any changes!