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Investment Accounts

The key to achieving your dream of financial freedom is to take the planning process one step at a time. Each step you take will bring you closer to reaching your goals. It's never too early or too late to start securing your future.

Bayou Federal Credit Union can help you reach your financial goals with our investment products. These include our two special checking/savings accounts – CUPID and Money Market Plus, which allow members access to their invested funds, as well as Share Certificates, IRAs, and Heath Savings Accounts.

Your account is insured up to $100,000 by the NCUA (National Credit Union Administration), an agency of the federal government. IRAs are insured separately from other deposit accounts.

CUPID Savings/Checking
Our CUPID account is a high yield demand deposit account for members who like the convenience of free unlimited check writing with an entire list of added advantages. (CUPID is an acronym for Credit Union Pays Interest Daily)

  • Earns dividends daily with monthly posting and compounding
  • $2,500 Minimum Balance to earn dividends
  • NO monthly service charge when minimum balance is maintained
  • Competitive dividend rates; subject to change monthly
  • Unlimited check writing privileges
  • Overdraft Protection (transfer from Share Savings Account, VISA credit card or line-of-credit loan)
  • Bayou FCU Visa Check Card
  • Direct Deposit and Payroll Deduction available
  • FREE Online Banking
  • Online Bill Payment
  • FREE Personal Teller 24-hour Account-by-Phone Automated Access

Money Market Plus Savings/Checking
This checking account is offered for members looking for the highest earning return on their checking deposits and access to their savings.

  • Dividends paid and compounded monthly
  • Tiered Rate Account – the more you deposit, the higher rate you earn
  • $10,000 Minimum Balance
  • NO monthly service charge when minimum balance is maintained
  • Competitive dividend rates; rates subject to change monthly
  • 6 withdrawals per month permitted
  • FREE Online Banking
  • FREE Personal Teller 24-hour Account-by-Phone Automated Access

Share Certificates
Our Share Certificate Accounts (or Share Certificates of Deposit) are for our members wishing to invest their deposits with competitive returns for terms from six months to five years with a minimum deposit of only $1,000.*

  • Terms range from six months to five years
  • Dividends paid monthly, quarterly or at maturity
  • $1,000 Minimum Balance
  • Competitive dividend rates (check with us for current rate information)
  • Substantial penalty for early withdrawal
  • Quarterly statements

    *Jumbo CDs ($100,000 min.) and Small Savers CDs ($500 min.) are also available

Individual Retirement Accounts
The perfect investment tools for preparing your golden nest egg, as well as to save for education expenses while making smart tax decisions. Prepare today and afford a comfortable return for your future.

  • The Traditional IRA allows you to defer taxes on your earnings until they are withdrawn. Contributions are tax deductible in the tax year for which they are made.
  • The Roth IRA is a non-deductible account that features tax-free withdrawals, for certain distribution reasons, after a five year holding period.
  • The Coverdell Education Savings Account (CESA) allows individuals to contribute, on behalf of any child, to an account that can be used to pay for that child's elementary, secondary or higher education.

Health Savings Accounts
If you have a high deductible health plan, you can open a Health Savings Account (HSA) with Bayou Federal Credit Union. Our HSA is a smart way to set aside money for qualified medical expenses while enjoying these tax benefits:

  • Tax deductions when you put money in;
  • Tax-free withdrawals for qualifying medical expenses;
  • And pay no tax on the earnings in your account!

Similar to an IRA, you control how much you contribute each year up to the legal limits. You decide which qualified medical expenses to pay from the account, and you can keep your HSA even if you change employment, move, or change your medical coverage.

With a Bayou Federal HSA, you can choose either a Health Savings Share Account, Share Draft/Checking Account, or Share Certificate (CD) Account to fit your needs. Bayou Federal is a leader among credit unions nationwide for Health Savings Accounts, so visit a Bayou FCU branch or call 225-925-8800 or 1-800-349-2900, ext. 3010 to open a new account or rollover an existing account today.

* Consult your tax advisor regarding any tax implications of your HSA contributions or withdrawals.