Savings Accounts
You protect and serve 24/7. Now it's our turn. When it comes to safeguarding your savings, that’s exactly what we do. All accounts are federally insured up to $250,000.00 by the National Credit Union Administration (NCUA).
Plus, we offer several different options to meet your individual needs.
Savings
Savings Account
Opening a savings account establishes you as a member and part owner of our credit union. With a minimum opening deposit you’ll have access to all the great products and services we have to offer.
- Great rates on loans
- Higher yields on deposits
- 24/7 access to your accounts through Telephone, Online and Mobile banking
- Complimentary eStatements
- Complimentary use of coin counter
- Insured up to $250,000.00 by the NCUA
We have many savings accounts to choose from that will serve your needs and help you achieve your financial goals.
Primary Savings
You’ve got a tough job serving our community. Let HPCU serve you with a Primary Savings account.
Who’s eligible?
- Active and retired Houston police officers
- Active and retired Houston Police Department civilian employees
- Surviving spouses of deceased Houston police officers and Houston Police Department civilian employees
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Dependent Savings
Even though you’re not on the front lines, dependents are the support systems and cheerleaders for our city’s finest. A Dependent Savings account can help family members also save and plan for their future.
Who’s eligible?
Family members of active or retired Houston police officers or Houston Police Department civilian employees including:
- Spouse
- Children (includes daughter- and son-in-law)
- Siblings
- Parents (includes mother- and father-in-law)
- Grandparents
- Grandchildren
- Great Grandchildren
- Any legal dependent of the main member or the main member’s spouse
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Lil Star Savings
Get them started young! It’s never too early for the youngest in the family to start learning about the importance of saving money. A Lil Star Savings account is perfect for any legal dependent of the main member, ages 0-12.
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Five Star Savings
Whether they're saving for a car or college, teens ages 13-17 can get a jump start on achieving their financial goals with a Five Star Savings account! Holders have access to our other products and services including Share Certificates2, a debit card with a checking account and more.
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Silver Star Savings
You’ve worked hard and are coasting into some much deserved retirement and relaxation. A Silver Star Savings account is perfect for any member, 55 years or older. Plus, you get to enjoy several other perks.
- $100.00 Minimum opening deposit
- Earns dividends based on a tiered structure, compounded and paid monthly
- Discount on renewal of safe deposit boxes
- Discount on purchase of money orders
- Complimentary box of checks with Silver Star Checking account
- Access to all the benefits of membership at HPCU
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Secondary Savings
There will always be those expenses that seem to hit us at the most unexpected time. A Secondary Savings account is available to help you save for a rainy day, vacation or unexpected emergency expenses.
With just a $200.00 minimum opening deposit, this account is the perfect addition to any savings account and earns dividends based on a declared rate, compounded daily and paid monthly when a $500.00 balance is maintained.
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Share Certificate
Certificate of Deposit
Having a well-rounded investment portfolio means having a mixture of high and low risk investments. With a Share Certificate from Houston Police Credit Union, you get a guaranteed return on your deposit and higher yields than a regular savings account—with less risk. Our Share Certificates are federally insured up to $250,000.00 by the NCUA.
Share Certificates are perfect for members that are nearing retirement and want a safe place to keep their money with a guaranteed return, or for members that want their money to grow at a higher rate but still want to stay conservative.
We offer many Share Certificate options with flexible terms to choose from. View our rates!
Term Options
Want your money to grow at a higher rate than a regular savings account? We have a variety of term options for your needs!
$1,000 minimum opening deposit. Earns dividends at a declared rate, compounded and paid monthly.
- 12-Month
- 18-Month
- 24-Month
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IRA & ESA
Individual Retirement & Education Savings
You work hard for your community and your family. The long hours and time spent away from family serving your community takes dedication and commitment. After all those years of selfless service, you deserve to enjoy a comfortable retirement.
Developing a retirement plan can seem confusing and daunting. There are lots of options, rules, regulations—and benefits. How do you sort it all out? Well, that’s what we’re here for.
What is an IRA?
An IRA, or Individual Retirement Account, is an investment account that helps you save for retirement through yearly contributions while offering tax advantages. And, they’re protected—all of HPCU’s IRAs are federally insured up to $250,000.00 by the NCUA.
Which one is right for you?
You should consider the rules, regulations and tax advantages when selecting an IRA or ESA. Depending on your retirement goals and expectations, as well as your employment status and income level, one may be a better option than the other.
We offer a variety of IRAs and retirement accounts that will help you achieve your retirement goals.
    
Traditional IRA
A Traditional IRA is for anyone who has earned income during the year. This type of retirement account could be tax deductible depending on your employment status and income level.
- For anyone under the age of 70 ½ with earned income
- $100.00 Minimum opening deposit
- Earns dividends based on a tiered structure, compounded daily and paid monthly
- Up to 100% tax deductible contributions depending on Modified Adjusted Gross Income (MAGI), filing status and participation in an employer’s retirement plan
- Taxed at withdrawal
- Tax deferred growth
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- $6,000.00 if under 50 years of age
- $7,000.00 if 50 years of age or older
- $12,000.00 for married couples who file jointly Max yearly contributions
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Roth IRA
A Roth IRA is a retirement account that lets you enjoy tax-free withdrawals when it’s time to retire, but requires you to pay taxes on contributions now. This account is best if you expect to be in the same or higher tax bracket at retirement.
- $100.00 Minimum opening deposit
- Earns dividends based on a tiered structure, compounded daily and paid monthly
- Eligible to contribute at any age with employment compensation
- Tax-free growth on earnings
- Tax-free withdrawals
- No mandatory withdrawal age
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- $6,000.00 if under 50 years of age
- $7,000.00 if 50 years of age or older
- $12,000.00 for married couples who file jointly Max yearly contributions:
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Roth Conversion IRA
Thinking about converting your Traditional IRA to a Roth IRA? Tax savvy people like to switch from a Traditional IRA to a Roth, so they avoid paying taxes at withdrawal. Some restrictions apply though, based on the Roth IRA income limits.
Visit one of our branches or give us a call to find out if you qualify to make the switch and convert your Traditional IRA to a Roth Conversion IRA.
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Coverdell Education Savings
Paying for college or any other higher education is getting more and more expensive as the years go by. HPCU offers a Coverdell Education Savings account so you can save for your child’s or grandchild’s college tuition with ease.
- $100.00 Minimum opening deposit
- Earns dividends based on a tiered structure, compounded daily and paid monthly
- Designed for people wanting to save for their children or grandchildren who are under the age of 18
- Contribute up to $2,000.00 per year, per child under the age of 18
- Tax-free withdrawals
- Tax-free growth
- No penalties at withdrawal
- Beneficiary must be 30 years or younger at withdrawal
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Traditional IRA Share Certificate
A Traditional IRA Share Certificate allows you to transfer your funds from an existing IRA to a Share Certificate without penalties. When your Share Certificate matures, you can either renew or transfer your money right back into an IRA.
- $1,000.00 Minimum opening deposit
- Earns dividends based on a declared rate, compounded and paid monthly
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Roth IRA Share Certificate
Our Roth IRA Share Certificate allows you the freedom to transfer your Roth IRA funds to a Roth IRA Share Certificate. When your Roth IRA Share Certificate matures, you can either renew or move those funds back into a Roth IRA—all without penalties!
- $1,000.00 Minimum opening deposit
- Earns dividends based on declared rate, compounded and paid monthly
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Roth Conversion Share Certificate
If you’re thinking about converting your Traditional IRA to a Share Certificate, consider our Roth Conversion Share Certificate. This Share Certificate allows you to move your Traditional IRA to a Roth Share Certificate without penalty. You get a guaranteed return on your investment, and at maturity, you can transfer your money into a Roth IRA.
- $1,000.00 Minimum opening deposit
- Earns dividends at a declared rate, compounded and paid monthly
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Visit us at one of our branch locations or give us a call to find out more about our savings accounts and become a member of HPCU today!
All share certificates subject to a penalty for early withdrawal prior to maturity.
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