Food Industries Credit Union

Regular Savings

  • Your basic membership account
  • Free ATM card. No annual fee.
  • $10 minimum membership balance which represents two membership shares at $5.00 each

Holiday Savings

  • A great way to save for the Holidays
  • Minimum $10 deposit
  • Automatic roll over to Regular Savings Account during the 1st week of November

Ready to join Food Industries CU? Become a member now!

Checking Accounts

  • Free debit card. No annual fee.
  • Overdraft Protection available
  • Access to more than 25,000 surcharge-free ATMs nationwide with a debit card
  • Free ATM Locator mobile app

Ready to open a checking account? Give us a call!

Traditional IRA

  • Contributions are made with pre-tax dollars
  • Good choice if you expect to be in a lower tax bracket when withdrawals begin

Roth IRA

  • Contributions are made with post-tax dollars
  • Good choice if you anticipate being in a higher tax bracket when you retire

Is living comfortably after retirement a goal you are trying to achieve? If so, Food Industries Credit Union has the resources to help you.

For more details, please contact us by phone or send us a message!

Certificate of Deposit

Certificate of Deposit pays a higher interest rate than regular Savings accounts. In return, you agree to keep the funds on deposit for a specified period of time.

  • Terms: 6 months, 12 months, 18 months, 2 years, 3 years, 4 years and 5 years
  • Dividends are paid monthly and interest rates vary according to the term of the certificate
  • Minimum to open share is $ 1,000

Ready to open a Certificate Account? Give us a call!


Certificates & IRA Certificates Rate Schedule


Yes, we do. Apply for a line of credit and when approved, you will be protected from overdrafts up to your approved limit.

No. However, our deposit accounts are federally insured up to $250,000 by NCUA. For more information on Certificate Rates, click here.

You can find a surcharge free ATM location in your area using the ATM locator. There are more than 24,000 surcharge free ATMs nationwide. All US Bank on-premise ATMs are surcharge-free.

The $10 minimum balance represents two membership shares at $5.00 each. It is not a fee.

Yes, just give us a call at 800-452-6021 and we will send you your free ATM Card.


Yes, you can make withdrawals from your Holiday Savings. However, there will be a low $5 withdrawal fee per transaction.

Yes, you do. It’s easy and simple. When you apply for a checking account, we will process your membership at the same time. So, you do not have to complete each process separately.

Click here to order checks online or call us at 800-452-6021.

Yes, you can. Give us a call and we will send you your free debit card. You will have access to more than 24,000 surcharge- free ATMs nationwide.

A traditional IRA is a type of retirement plan that has been in existence since 1975. 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 a balanced, long-term savings plan.

You can contribute to a traditional IRA if you earn compensation and you will not reach age 70-1/2 by the end of the year. If you file a joint tax return, you can treat your spouse’s compensation as your own (except your combined contributions cannot exceed your combined compensation). All earnings in the traditional IRA are not taxed until they are withdrawn. The ability to defer taxes on the earnings, and to withdraw in a year when you may be in a lower tax bracket, can mean more after-tax dollars for your retirement.

Please refer to the IRA Contribution Limits Table at the top.

Yes, your participation in an employer sponsored retirement plan will not affect your ability to contribute to a traditional IRA (assuming age and compensation requirements are met). However, higher-income earners will lose their ability to deduct their traditional IRA contributions if participating in an employer sponsored plan.

Yes, you can. However, the limits on annual contributions described on the previous page apply to any combination of traditional and Roth IRA contributions that you make for the year.

If you are single, or married and neither spouse is an active participant in a retirement plan, your traditional IRA contribution is deductible regardless of income. If you or your spouse is an active participant, you may deduct contributions only if your income is below certain limits. Smaller deductions are available if your income is within the phase-out range, which is determined by your filing status. Higher-income earners with retirement plans may still contribute, but deductions are not available if income is over the phase-out range. If you have questions about your specific tax situation, please consult your tax advisor for an interpretation of how these rules apply to you.

You may be able to receive a tax credit for making contributions through tax year 2006. The full credit is 50 percent of the first $2,000 of contributions. The full credit is available for joint filers who have joint modified adjusted gross income (MAGI) up to $30,000, heads of households with MAGI up to $22,500, or other filers with MAGI up to $15,000. Smaller tax credits are available for joint filers with MAGI up to $50,000, heads of households with MAGI up to $37,500, or other filers with MAGI up to $25,000.

Yes, you will owe income taxes when you withdraw from your traditional IRA. However, if you make nondeductible contributions to a traditional IRA, a portion of each withdrawal will be treated as the nontaxable return of these contributions.

In general, you must pay a ten percent tax on early distributions or withdrawals before age 59-1/2. But the early distribution tax does not apply in the following situations:

  1. Amount is rolled over or directly transferred to another traditional IRA
  2. Amount is properly converted to a Roth IRA
  3. Withdrawal of an excess contribution before the tax return is due
  4. Withdrawal of an excess contribution after the filing deadline if certain conditions are met
  5. Payment is made to your beneficiaries after your death
  6. Withdrawal of up to $10,000 is for first-time home purchase
  7. Amount is used to pay for qualified post-secondary education expenses
  8. Amount is used to pay for medical expenses in excess of 7.5% of adjusted gross income (AGI)
  9. Amount is for pre-59-1/2 periodic payments
  10. Distribution is to an owner who is disabled (as defined by the IRS code)
  11. Distribution is for medical insurance premiums during unemployment that lasts 12 weeks or longer

You must begin taking required minimum distributions from your traditional IRA at age 70-1/2. The minimum distributions each year will be computed using an IRS formula. You are allowed to delay the first year’s payment until April 1 of the following year, but you will receive two year’s worth of payments in your 71-1/2 year if you choose to delay.

If you are entitled to receive an eligible rollover distribution from an employer’s plan, you can continue deferring taxes by moving the money into a traditional IRA. The best way to do this is to inform the plan administrator that you want the funds moved directly to your traditional IRA in a direct rollover. The plan administrator will inform you before making an eligible rollover distribution.

You can move money from your traditional IRA to a Roth IRA if your adjusted gross income for the year is $100,000 or less, and you are either single or married filing a joint tax return. In the year you convert, you will have to pay federal income taxes on the amount that you move, except the portion that is treated as the return of your nondeductible contribution. You may also be subject to state income taxes.

You may designate one or more beneficiaries to receive your IRA after your death. If your spouse is your beneficiary, he or she may directly transfer your traditional IRA to his or her own IRA tax-free. In addition, all beneficiaries have the option of taking a lump sum payment, and in most cases, they will be able to take periodic payments over a number of years. Any tax-deferred money in your traditional IRA at the time of death will be taxed when it is distributed to your beneficiaries.

Yes, the minimum opening balance is $1,000. For more information on Certificate Rates, click here.

No. Once the CD is opened, you may not make additional deposits to your account. You may, however, make a deposit or a withdrawal during the 10-day grace period after the CD matures.

At maturity there is a 10-day no-interest, no-penalty grace period for partial withdrawal or closure of your certificate. At the end of the 10-day grace period, the certificate balance will automatically renew for the same term as the maturing certificate, but at the rate then in effect for the same class of investment.

Yes, you can. Simply give us a call at 800-452-6021 within the 10-day grace period, and tell us the term of your reinvestment.

Yes, you can. However, because CDs are term accounts, there will be a penalty for an early withdrawal. To understand how the penalty is determined, please read our Certificate Disclosure.

Check your balance or make a transfer by using our free Online Banking, Mobile Banking, Text Banking, or call one of our friendly member service representatives at 800-452-6021. You can also get your balance information at one of surcharge-free ATMS. Click here to find the nearest ATM.