Savings

SUMA is a unique member-owned not-for-profit financial institution.

Every saver is a member, and every member is an owner!

We invite you to participate fully in all the cost-saving programs your credit union has to offer, to you and to all your family members.

Earn more when you save. A variety of savings accounts provide convenient and systematic savings and help you put aside funds for your future. No matter what your savings needs are, long or short term, you can build a portfolio that is right for you.

Regular Share

No annual fee
Minimum Balance: $50.00
Term: n/a
Rate Type: Variable
Minimum Balance Required To Earn APY: $50.00
Penalty Imposed For Early Withdrawal: No

Term Share Certificates (CD)

Minimum Balance: $1,000.00
Term: 3 months to 5 years
CD Rate Type: Fixed*
Penalty Imposed For Early Withdrawal: Yes
Dividends compound daily and post quaterly

Money Market Accounts

Minimum Balance: $2,500.00
Term: n/a
Rate Type: Variable
Minimum Balance Required To Earn APY: $50.00
Penalty Imposed For Early Withdrawal: No

IRA Accounts

Minimum Balance: $0.00
Term: n/a
Rate Type: Variable
Minimum Balance Required To Earn APY: $50.00
Penalty Imposed For Early Withdrawal: Yes

Your savings are federally insured for up to $250,000 by the National Credit Union Administration, a U.S. Government Agency.

For more information about how your shares are insured, click on the following links:

For non-members: please see our Membership Requirements first. With any questions related, please contact our member services department at 914-220-4900.

Not a SUMA FCU Member yet?

APPLY Here

Note: you will need the name and contact information of your Sponsor (Existing SUMA FCU Member).

To add additional share to your existing account, click a correspondent link below.

Add a share to your Personal Account

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Each member must maintain a Savings Account with a minimum balance of $50 to establish and keep membership with SUMA FCU.

This account earns dividends and can be conveniently accessed through Online Banking and Mobile Banking. You can make unlimited deposits and withdrawals, giving you easy access to your funds whenever you need them.

There are no limitations on quantity of withdrawals and deposits. Certain restrictions may apply as to the amounts of cash withdrawals and electronic inter-institutional transfers.

Looking for a higher return on your savings? A Term Share Certificate offers a fixed dividend rate for the entire term, helping your money grow with predictable earnings.

Choose a term that fits your goals, from 3 months to 5 years, with a minimum opening deposit of $1,000.

A Term Share Certificate is a great option if you can leave your funds on deposit until maturity and want to earn a higher rate than a regular savings account.

Looking to earn more on your savings while maintaining access to your funds? A Money Market Account offers a higher dividend rate than a regular savings account and provides flexibility for managing your money.

Open a Money Market Account with a minimum deposit of $2,500, and start earning dividends on balances of $50 or more.

To help you manage your account, up to 3 withdrawals and 3 transfers per month are permitted (Reg D). Money Market Minimum Balance Fees and Excess Transaction Fees may apply if account requirements are not met. Please refer to our Fee Schedule for complete details.

A Money Market Account is an excellent choice for members who want to earn higher dividends while keeping their savings readily accessible.

We offer Traditional IRA, Roth IRA and Coverdell Education IRA at NO fee. Minimum required deposit is $50.00.

Planning for retirement starts with saving consistently. SUMA FCU offers Traditional IRAs, Roth IRAs with no annual maintenance fees, making it easy to save for your future and your family's educational goals.

What you need to open an IRA

Membership / Eligibility with SUMA FCU (must be eligible to join the credit union)

Valid government-issued photo ID (driver’s license, passport, or state ID)

Social Security Number (SSN) or Tax Identification Number (TIN)

Basic personal information (name, address, date of birth, contact details)

Beneficiary information (name, date of birth, and relationship — recommended for IRA setup)

Additional notes

IRAs are subject to IRS rules and contribution limits

You may choose between Traditional IRA, Roth IRA

IRA Share Certificates (CDs) require selecting a term (e.g., 6 months to 5 years) if applicable

An IRA is a smart way to build long-term savings while taking advantage of potential tax benefits. Whether you prefer the flexibility of a variable-rate IRA savings account or the stability of an IRA Share Certificate, SUMA FCU offers options to help you reach your retirement goals. Consult your tax advisor to determine which IRA option is best for your financial situation.

Get Help Choosing the Right IRA