Deposit Accounts

Saving a portion of your earnings is a fundamental component to managing your money. It may seem like a daunting task, but it doesn't have to be. The process can be simplified by using direct deposit and automatic transfers. With direct deposit, your funds are deposited into your checking account automatically on pay day. Using automatic transfers from your checking account into a savings account or club account each pay day establishes a routine savings plan. We'll help you through the process from start to finish - just give us a call!


Our savings account is the first step to becoming a member of the credit union. Anyone living or working in Boone, DeKalb, Ogle, Stephenson or Winnebago Counties is eligible to become a member. With a deposit of just twenty-five dollars, you can begin enjoying the benefits of belonging to Generations Credit Union.
Our savings accounts are intended for the purpose of saving money; therefore, we allow only six withdrawals or transfers from this account per calendar month.


Traditional Checking Account

  • MasterCard debit card
  • Courtesy pay - overdraft protection up to $500
  • Dividends paid monthly - no minimum balance required
  • Free online bill payment
  • Full service online branch access
  • No monthly fees for e-statement accounts
  • No per check fees - unlimited deposits and withdrawals

Non-Traditional Checking Account

  • No Checks
  • Unlimited deposits and withdrawals
  • Prepaid/Reloadable Visa Debit Card
  • No minimum balance requirement
  • Full service online branch
  • Monthly fee automatically deducted from the account
Club Savings

Christmas Club Accounts
Our Christmas Club provides an opportunity to put money away for those holiday expenses. This club account matures in mid-October every year, at which time the funds are either transferred to your share account or paid out in the form of a check. A penalty may be applied for early withdrawal.

Fortune Fund Accounts
Our Fortune Fund account offers you an opportunity to save for an intended purpose such as property taxes, annual or semi-annual insurance premiums, or any other purpose that you would like. You are allowed only four withdrawals per calendar year from this account.

Vacation Club Accounts
Our Vacation Club account offers you the opportunity to save for your vacation at a higher rate of return than a standard savings account. You are allowed only four withdrawals per calendar year from this account.

Certificates of Deposit

Our Certificates of Deposit offer members the security they require with the return they desire!

The benefits include:

  • Solid yields
  • Variety of terms
  • Automatic renewal

A penalty may be applied for early withdrawal. This penalty will be waived for members 60 years and older who make withdrawals due to a documented medical emergency.

We offer the following Certificates of Deposit:

  • 90 Day
  • 1 Year
  • 2 Year
  • 5 Year
Retirement Savings

From college to retirement.

The more you know today, the easier it will be to:

  • Make plans
  • Set goals
  • Invest in tomorrow

Enjoy your journey!

Just starting out? When planning for a comfortable retirement, you may choose to begin saving with an Individual Retirement Account (IRA). IRA contributions may be tax deductible and the earnings are tax deferred.

Need peace of mind? At Generations Credit Union, your IRA account is federally insured up to $250,000. This account is ideal for protecting your retirement funds from market fluctuations and preserving your principal. Talk to our IRA specialist about a direct transfer from your qualified retirement plan to an IRA at Generations Credit Union.

To open a Traditional IRA,

  • Complete enrollment forms
  • Deposit $100 into the account

You may also want to consider moving an existing IRA you have at another financial institution to Generations Credit Union to take advantage of our competitive terms and rates.

NCUA Share Insurance

NCUA Share Insurance Logo

Your funds are federally insured up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF) which is regulated by the National Credit Union Administration (NCUA).  With the backing of the full faith and credit of the U.S. government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 111 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.


Open a savings account and begin to enjoy the benefits of belonging to a credit union. Once a member, you are welcome to apply for a checking account, a VISA Credit Card, or any of our full range of loans.

Members with traditional checking accounts may also apply for a MasterCard debit card. The MasterCard debit card can be used to purchase goods and services as if writing a check, and the those purchases are deducted automatically from your checking account. The MasterCard debit card can also be used like an ATM card at any participating network ATM machine.

Members with non-traditional checking accounts may apply for a cuMoney prepaid, reloadable debit card. The cuMoney Card allows you to spend only the amount on the card, so overdrafts and their associated fees are avoided entirely.