High-Yield Savings
You work hard for your money. Let it return the favor.
Accelerate your savings with a High-Yield Money Market account.
Ideal for those who maintain a high balance, our tiered accounts offer a higher rate of return than traditional savings accounts and still allow you access to your funds 24 hours a day.
Earn a high-yield dividend rate
No monthly fee
Easy Online and Mobile Transfers
Send cash where you need it with real-time online transfers.
Mobile Deposit
Deposit checks into your high interest savings account using Mobile Deposit on the Sound mobile app. Learn more.
High-Yield Savings Accounts
Accelerate your savings with a High-Yield Money Market account. Ideal for those who maintain a high balance, our tiered accounts offer a higher rate of return than traditional savings accounts and still allow you access to your funds 24 hours a day.
- Earn a high-yield dividend rate
- No monthly fee
Certificates
Lock in a high rate and guaranteed return. Interest is compounded monthly and accounts can be easily rolled over once they reach maturity.
- Minimum deposit of $500
- Terms range from 3 to 60 months
- Get a one-time bump to a higher rate
- Add to your balance with one additional deposit
- Make a one-time withdrawal during your term
- Option to make a one-time deposit or bump to a higher rate
- Earn even higher dividend on balances of $100,000 or more
- Terms range from 6 to 60 months
Individual Retirement Accounts
Saving for retirement? IRAs are a flexible savings option with potential tax benefits*, making them a great way to supplement a 401(k) or other employer-sponsored plan.
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Traditional IRA |
Roth IRA |
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Good for those who want: |
Traditional IRA – Deductions now – Have income too high to qualify for a Roth IRA – Expect to be in a lower tax bracket in retirement |
Roth IRA – Tax-free withdrawals in retirement – No required minimum distributions at 70 1/2 – Expect to be in the same or higher tax bracket in retirement |
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Tax deduction on contributions* |
Traditional IRA |
Roth IRA |
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Tax-deferred earnings* |
Traditional IRA |
Roth IRA |
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Tax-free growth on earnings* |
Traditional IRA |
Roth IRA |
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Tax-free withdrawals during retirement* |
Traditional IRA |
Roth IRA |
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Required minimum distribution after 70 1/2 |
Traditional IRA |
Roth IRA |
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Available as a Savings Account (view rates) |
Traditional IRA |
Roth IRA |
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Available as a Certificate Account (view rates) |
Traditional IRA |
Roth IRA |
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No annual maintenance fees |
Traditional IRA |
Roth IRA |
SEP IRA
Have a Simplified Employee Pension (SEP) with your employer? Call our Contact Center or visit your local branch to open a SEP IRA and start saving for retirement today.
IRA Transfers and Rollovers
If you have an IRA at a different bank, simplify your finances by transferring- or rolling-over those funds to your Sound IRA. Call our Contact Center or visit your local branch to get started.
Education Savings Accounts
A Coverdell Education Savings Account (ESA) is a tax-favored account that helps pay for qualifying college and K-12 education expenses. Earnings on contributions may be tax-free and qualifying withdrawals are tax- and penalty-free.* You can even easily change beneficiaries should education priorities change.
ESA Requirements
- The beneficiary must be under age 18, unless they are special needs
- All funds must be used by age 30
- Responsible individual on the account must be a parent or legal guardian of the beneficiary
- Annual contribution maximum is $2,000
Open a High-Yield Savings Account Today.
Benefit from competitive rates and the flexibility of accessing your funds when you need them.
High-Yield Savings FAQs
High-interest savings accounts are bank deposit accounts that typically pay a higher interest rate that traditional savings accounts with better returns than traditional savings and checking accounts.
Sound Credit Union offers High-Interest Savings Accounts. Learn More »
To open a high-interest savings account you’ll need your application materials, complete a provided application, and make an opening deposit, if required. High-interest savings accounts can be opened online or at any branch location.
Sound Credit Union offers High-Interest Savings Accounts. Learn More »
Sound savings, money market, checking, IRA and certificate accounts are insured by the National Credit Union Administration (NCUA) up to $250,000. Additional coverage may be available based on account structure and number of owners on accounts. For more information, visit the NCUA website and this share insurance estimator tool.
Learn more in our Support section
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Investments offered through CUSO Financial Services, L.P. (CFS)
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Disclosures
Insured by NCUA.
For specific tax advice, consult your tax advisor. Requires a minimum $25 deposit.
Roth IRA: Owner must satisfy five-year waiting period for distributions and one of the following penalty tax exceptions: age 59 1/2 or older, disability, death or first-time homebuyer. For specific tax advice, consult your tax advisor.
1Bump Certificate: Minimum balance is $2,500. Rate Bump: One time upon request, we will increase your rate to the current Bump Certificate rate at the same term. The new dividend will not be applied retroactively. Penalty-Free Deposits: Unlimited deposits.
2 Flex Certificate: Minimum balance is $2,500. Add-on option: Unlimited deposits. Bump option: Upon request, rate will be increased to current Flex Certificate rate. Withdrawal option: Withdrawal amount cannot reduce the balance to less than the $2,500 minimum.