Prime Share Account
When you join NMA, a Share account is opened with a minimum deposit of $5.00. This minimum must be maintained throughout the membership. Each member's account is federally insured up to $100,000.00 by the National Credit Union Administration (NCUA).  Click the NCUA Share Insurance Estimator button in the left column on this page to calculate the amount of insurance protection provided to you. Dividends are paid quarterly on the Share account based upon the average daily balance for the quarter. Share accounts must maintain an average daily balance of $250 or more to earn dividends and must be open at the end of the quarter to receive dividend payment.

 

Share Draft Checking
NMA's Share Draft account is a basic checking account which offers the same acceptability and convenience with some attractive extras.

- Earns Dividends with an average daily balance of $2,500 or more
- No minimum balance requirement
- No monthly service charges
- No per check fees
- Carbonless copies of share drafts
- Convenient monthly statements
- Direct Deposit and payroll deduction available
- 24 Hour access to your account through ATMs (No transaction fees with Diamond Account)
- EZ Access Line of Credit Overdraft protection available

The benefits of our Share Draft Checking account are clearly better than what was offered at other financial institutions. Some services such as stop payment orders, copies of share drafts, and items returned for insufficient funds require a processing fee. See fee disclosure for details.

 

Maxi Share
NMA's money market account is called Maxi-Shares. The minimum balance to earn dividends is $2,500.00. Dividends are paid monthly, deposits earn from the date of deposit to the date of withdrawal and the account must be open at the end of the month to receive dividend payment. Unlimited activity is permitted.

 

Individual Retirement Account
Regardless of your income, or tax status, an Individual Retirement Account is a recommended means of assuring a more financially secure future. Traditional IRAs, IRAs and Roth IRAs are available through NMA Federal Credit Union

You can contribute to a traditional IRA if you earn compensation, and you will not reach age 70 ½ by the end of the year. 

If you meet the eligibility test and you are under age 50, you can contribute up to $4,000 through 2007. For owners age 50 or older, limit is $5,000 for 2007.

The tax laws may affect the amount of tax deductions your IRA can receive. Regardless of the deductibility of contributions, you will be compounding interest earnings which may be tax deferred until you withdraw them. In this way an IRA will add up to significantly more than the same investment in a similar but taxable account.

We offer competitive rates on IRA accounts along with the security of insurance by the National Credit Union Administration (NCUA). IRA accounts are insured up to $100,000 separately from other accounts. Dividends are paid quarterly, deposits earn from the date of deposit to the date of withdrawal and the account must be open at the end of the quarter to receive dividend payment.

There are no fees to open an IRA, and a minimum deposit of only $ 25.00. Deposits can be made in person, by mail or by direct deposit. An early withdrawal penalty may apply.

Individual Retirement Account Certificate

IRA Certificates earn higher interest than the regular IRA account, but there are minimum balances and terms. Conditions are the same as the regular Individual Retirement Account. Members must first open an IRA Share Account before taking out one or more certificates.

The tax laws may affect the amount of tax deductions your IRA can receive. Regardless of the deductibility of contributions, you will be compounding interest earnings which may be tax deferred until you withdraw them. In this way an IRA will add up to significantly more than the same investment in a similar but taxable account.

IRA certificates are insured up to $100,000 separately from other accounts. Dividends are compounded and paid quarterly on the anniversary date.

Penalty for early withdrawal depends on the term of the certificate. 

 

Share Certificates
Share Certificates offer a higher rate of interest on your savings. Dividends may be paid monthly and transferred to shares, share drafts, money market or club accounts or dividends may be compounded quarterly. Early withdrawal penalties depend on the term of the certificate. Check Current Rates page for today's certificates:

 

Christmas Club
This is the best way to save for your holiday shopping. You determine how much to save. Once your total reaches $250, your account will earn the same interest (and perhaps extra dividends) as a NMA Prime Share Account. The savings are transferred to your choice of accounts in mid-October.

 

Vacation Club
Savings for that family vacation to Disney World? How about traveling the Pacific coast? You can do it! Set your goal and NMA will help you set up regular transfers to this account to help you reach your goal. You customize the goal and the reward date. Once your savings total reaches $250, your account will earn the same interest (and perhaps extra dividends) as a Prime Share Account.