College Savings

We do. It is designed for our members as they graduate from high school. Applications are available around the first of February each year. Find more information in the About > Our Community section of this website.

Not at the current time.

Coverdell Savings

At least a day old! Seriously, a good time would be when the child has been issued a Social Security number.

No, there are significant differences. Please refer to the chart found on our College Financing page to view them.

Yes. Single taxpayers must have an adjusted gross income of $95,000 or less in order to contribute. The level is $190,000 for those filing jointly.

Yes, but each beneficiary can only receive a total of $2,000 per year no matter how many accounts are opened for them.

General Savings Questions

Yes, if applicable. Please remember to keep the mailing address on your account updated.

Yes! You may open Special Savings accounts when you would like to keep your savings separate for something...you know, very important!

Yes! Your accounts with us are federally insured to at least $250,000 by the National Credit Union Association (NCUA).

  • $25 initial deposit
  • Government Issued Photo ID
  • Social Security Number
  • Physical address must match ID. If it does not, please be prepared to furnish proof of address.

You are eligible if:

  • If you reside, work, attend school or worship in Taylor or Callahan counties in Texas.
  • You are an immediate family member of a current ATFCU member.
  • You are an immediate family member of a person that is eligible for membership, even if the eligible member has chosen not to join the credit union.
  • You are an employee of the public school system in one of the following Texas counties:

o   Callahan                                    ○  Knox

o   Coleman                                    ○  Nolan

o   Eastland                                    ○  Runnels

o   Fisher                                        ○  Shackelford

o   Haskell                                      ○  Stephens

o   Jones                                         ○  Stonewall

o   Kent                                           ○  Taylor

○   King                                           ○  Throckmorton

HSA Savings

If you are married, the spouse becomes the owner of the account and can continue to use it as an HSA. If you’re not married, the account will no longer be considered a Health Savings Account and will pass to a designated beneficiary or become part of your estate. At that time, it will become subject to any applicable taxes.

  • Payments to doctors or dentists
  • Prescriptions
  • Prescription glasses or contacts
  • Medical equipment or supplies
  • You may reimburse yourself for qualified expenses that your insurance didn’t cover and you paid out-of-pocket. (Keep good records on this one.)

The following items are not eligible expenses:

  • Vitamins
  • Over the counter medicines
  • Elective cosmetic surgery

You can continue to use your account for qualified out-of-pocket medical expenses. Funds can also be used to pay for deductibles, co-pays and coinsurance after you are enrolled in Medicare.  

The purchase of a Medicare supplemental insurance policy is not considered a qualified expense.

After you turn 65, you are allowed to use the money in your HSA for non-medical expenses. If you choose to do so, the amount withdrawn will be treated as income. It is subject to income tax but not to penalties.

If the funds are already in your HSA, you can continue to use them to pay for qualified medical expenses. However, you are no longer allowed to make contributions to the account.

IRA Savings

You can designate in your will who will receive the funds in your IRA. This beneficiary can be a person or organization. If no beneficiary is named, the IRA generally becomes part of your estate and will be distributed as your executor specifies.

The normal contribution deadline is April 15 - the same day that your income tax return is filed. In 2020, both deadlines were extended until July 15th due to the coronavirus pandemic. At the current time, no announcements have been made about 2021 deadlines.

There is no minimum age limit. But you must have taxable income that equals or is greater than that amount of your IRA contribution. Taxable income includes wages and self-employment income.

Not at this time. There are many considerations and tax implications associated with IRA’s and we believe that a personal conversation is important.

Youth Savings

Yes. The minimum deposit amount is $5. That amount will remain in the savings in order to maintain credit union membership.

At that time, the guardian’s oversight ceases and the account becomes the responsibility of the child.  Until then, it is a great way to teach the importance of savings while you monitor your child’s progress.

Yes. Please bring his/her social security card (or a clear copy) with you for account opening.