Rohm and Haas Credit Union

The RHCU has four savings options for its members:

Share Accounts—“Share Accounts” are really “savings accounts” which pay dividends calculated at a specific annual rate from day of deposit to day of withdrawal. Our dividend rate for Share Accounts is determined by the Credit Union's directors, who adjust it to reflect changes in the financial climate. See share rates for rates.

RHCU members can deposit cash into Share Accounts, or they can have money automatically deducted from their pay - and then deposited. A member who opts for payroll deduction must specify an even dollar amount. Deposits begin in the first pay period after a member’s request for payroll deduction has been processed.

Withdrawing funds from a Share Account is easy and convenient. An account holder simply submits a request to withdraw money, either by telephone or in writing. That money can be mailed in a check to the account holder, or picked-up at the RHCU office.

Note: All Share accounts are insured by NCUA, a Federal Government Agency, up to $100,000.

Certificates of Deposit— RHCU offers certificates of deposit (CD's) for members. Six (6) month, nine (9) month, and twelve (12) month certificates are available, all with a minimum deposit of $500. Thirty (30) and sixty (60) month certificates require a minimum deposit of $500. Interest is paid on these certificates at current commercial rates.

Money invested in a CD can be withdrawn before it matures, but there is a significant interest penalty for early withdrawal.

Christmas and Vacation Clubs—Money deposited in our Christmas and Vacation Club accounts earns the same dividend rate as RHCU Share Accounts from day of deposit to day of withdrawal.

As in the case of Share Accounts, the Credit Union accepts both cash payments and payroll deductions for Club accounts.

RHCU Christmas Club payout checks are automatically deposited in November, while our Vacation Club account holders have their checks automatically deposited in May.

Naturally, early withdrawal of money from an RHCU Club account will result in the loss of all interest earned on that account.

Individual Retirement Accounts – Members can build their retirement savings tax-free or tax-deferred by opening an IRA through RHCU. Whether saving for retirement or for a child or grandchild’s college education, there is an individual retirement account (IRA) that will do the job.

Note: Many do not know that they can save for educational IRAs by payroll deduction. For only $166.66 monthly or $76.92 bi-weekly members can begin saving for college tax free. Those who save early take full advantage of compounding interest.

Click here for a summary of IRA Limitations
See savings rates for rates.

Money Market Accounts – Money Market account is just like a share account, but usually bears a higher interest rate, and withdrawls are limited to 2 per month.