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Empower Your Finances: Personal Banking Solutions

Our savings and checking account options offer safety, interest earning opportunities, and easy access to your money. Whether you are planning for a major purchase, building an emergency fund, or simply looking to manage your daily expenses, DoverPhila accounts help you reach your financial goals safely and effectively.

Savings Account Options

Your savings journey begins at DoverPhila.

Why choose DoverPhila’s savings accounts?

Share Master Account (Regular Savings) for Membership

Your DoverPhila membership starts with a minimum deposit of $5.00 into a Share Master Account. After the minimum deposit is made, you get instant access to exclusive benefits and other credit union accounts, products, and services.

Account Features:

Additional Savings Account Options

Daily Share Account (Extra Savings)

Our Daily Share Account earns the same dividend as our Share Master Accounter. This account is an additional savings account for special saving purposes without having to open a new membership account.

Account Features:

Custodial Share Account (Under the Age of 18)

Secure your child’s future with a DoverPhila Custodial Savings Account. This savings account is set up by an adult (the custodian) on behalf of a minor (the beneficiary). The custodian manages the account until the child reaches the age of majority, at which point the account legally transfers to the child.

Account Features:

Checking

Manage your daily finances with ease.

Our checking accounts offer you the very best we have to offer. We bolstered the benefits by flat-lining the fees to provide a straightforward checking that works the way you want it to work. Welcome to checking made simple.

Why choose a DoverPhila checking account?

Account Features:

Reorder Checks

We've streamlined the process to make ordering your checks a breeze.

We have two convenient options for ordering checks, so that you always have a fresh supply of checks on hand, ready for any payments or transactions you need to make.

  1. Visit your nearest DoverPhila branch office to place your order.
  2. Order online from Main Street. Click here to order today!

Please keep the following in mind if you order online from Main Street:

      • Your name and address must be the same as the name and address on your account at DoverPhila.
      • Their standard shipping is “USPS 1st Class.” Business packages have a higher delivery fee due to the size and bulkiness of the order.
      • Senior checks can be any of the standard styles with 90 checks per box in either single or duplicate.

If you have not ordered your free checks before, please visit one of our branch offices to order.

Image of DP Owl writing a check to pay bills

Club Savings Accounts

Summer fun or festive cheer, DoverPhila has you covered!

We offer Christmas Club and Vacation Club Accounts – or for anything in between – that provide a structured and disciplined approach to saving, ensuring you can enjoy those special moments without financial stress. Embrace the joy of planning and saving for your favorite seasons with us!

How do you benefit from a DoverPhila club account?

  • Structured Savings: Save consistently throughout the year by setting up automatic deposits to make saving effortless or make regular contributions.
  • Goal-Oriented: Focus your savings on specific goals to make it easier to budget for seasonal expenses, to avoid the stress of debt, and to plan with confidence knowing that you have the funds set aside.
  • Earn Dividends: Your deposits earn competitive dividends, maximizing your savings potential and helping you reach your goals faster.
  • No Monthly Fees: Enjoy fee-free accounts with no minimum balance requirements, ensuring your savings work for you without extra costs.
  • Accessibility: Access your funds when you need them for your planned expenses at any of our five full-service locations.

Account Features:

Money Market

Grow your savings with our insured Money Market Accounts.

Our Money Market Account gives you the best of both worlds with the freedom to withdraw money when you need to without penalty or sacrificing earning potential. It’s an ideal choice if you’re looking to earn more on your savings while maintaining access to your funds.

How you benefit from a DoverPhila Money Market Account?

  • Short-Term Savings: Save for short-term goals while earning higher dividends compared to traditional savings accounts.
  • Emergency Fund: Build a stable financial cushion with easy access to your funds in case of unexpected expenses.
  • Investment Alternative: Money Market Accounts are a conservative investment option with relatively low risk and steady returns.
  • Financial Stability: Protect and grow your savings with a reliable account that offers competitive rates and flexible access.

Account Features:

Certificate Accounts

DoverPhila's certificate accounts maximize earnings without risking principal.

Our certificate accounts offer fixed rates for a set term of your choice. They are a great, risk-free investment option if you do not need immediate access to your funds and want to invest for longer periods of time to receive higher dividends.

How It Works:

  • Commit to deposit a fixed sum of money for a fixed period for dividends.
  • Redeem your certificate at maturity. DoverPhila pays you the money you originally invested, plus any accrued dividends.
  • Early-withdrawal penalty or forfeit a portion of the dividends earned if you withdraw funds your prior to maturity.

How do you benefit from a DoverPhila certificate account?

Account Features:

*Members pay an early-withdrawal penalty or forfeit a portion of the dividends earned if they withdraw funds prior to certificate maturity.

Youth Savings – DP’s Kids Club

For Kids Ages 12 & Under

Parents, do you want to help your children learn to manage money? Then bring your children, ages 12 and under, to any DoverPhila branch and open their very own savings account through DP’s Kids Club.

By joining the club, children learn to manage money early and reap the special rewards this account offers.

DP's Kids Club image

Join Today

Simply bring your child, their social security card, birth certificate, and a deposit of $5 (or more) to any of our five convenient locations and activate their account. It’s that easy!

If your child already has a DoverPhila savings account, you can open a DP’s Kids Club account for your child. No additional deposit is required. (Note: If you currently have a custodial account, you will need to open a separate account for the DP’s Kids Club.)

DP's Kids Club Benefits

Here are just some of the benefits that come with DP’s Kids Club membership:

      • Fun Gifts– Kids receive a postcard in the mail each quarter with an incentive to save their money.
      • Membership Card – The official club membership card – kids love them!
      • Exclusive Savings – Certificate Accounts with low $250 minimum balance*.
      • Games & Contests – Quarterly contest with cash prizes.
      • Quarterly Newsletter – Credit union news and money facts tailored specifically to kids.
      • Special Events – Youth Week, always the last full week in April, celebrates our youngest members with a bonus on deposits and fun giveaways.
      • Financial Tools for Kids – Education is the key to success. Club activities and tools are designed to help kids learn money management.
      • Access to Banzai – An award-winning, online financial literacy program that allows members to discover real-world finances through “learning by doing.”
      • And More!

Early education is crucial to adopting lifelong money management skills. Working together we can help children learn to successfully manage their money. By joining the kids club, kids are given the opportunity to learn the value of saving money while also having fun.

When your child reaches the age of 13, their financial education really kicks into gear. Their membership will automatically be converted to a DP Savers Club membership.

*Only available to DP’s Kids Club and DP Savers Club accounts.

Youth Savings – Savers Club

For Teens Ages 13-17

Whether you’re babysitting, mowing lawns, work a part-time job after school or receive an allowance, chances are this is the stage of life where you’re earning money for the first time. Learning how to manage your money now will pay dividends throughout life. With a DP Savers Club account, you’ll be able to develop solid money management, budgeting, and good credit practices.

Now is the time to start saving and looking toward your future. A DP Savers Club account will give you a jump start on achieving your goals.  If you’re saving for your first car or college, we’re here to help.  DoverPhila offers many products and services that will help you stay focused on financial goals.

Dover Phila Savers Club

Membership Benefits:

      • Earn dividends on savings and checking accounts.
      • Certificate Accounts with low $250 minimum balance*.
      • Fun and educational quarterly newsletters with contests.
      • Exclusive savings event to earn bonuses and win giveaways.
      • Semi-annual savings incentive postcards.
      • Free access to Banzai, an award-winning, online financial program.

Join Today

Simply open a DP Savers Club account with an initial deposit of $5 or more.  If you already have a DoverPhila account, you can transfer it to a DP Savers Club account. No additional deposit is required.  If you currently have a custodial account, you will need to open a separate DP Savers Club account.

Additional Benefits:

      • At age 16, you can apply for a MasterCard® Debit Card+, with a parent joint on your account.  A debit card allows you to pay for purchases directly from your checking without the hassle of writing a check.
      • Online services consist of On Line-On Time® home banking, eStatements, and online bill pay++.
        • On Line-On Time® home banking is available to all members at no charge. You can sign up online or at any branch. Online access allows you to make transfers, view accounts, and make payments on your loan accounts with the credit union.
        • Online bill pay is also free. This service allows you to make payments to anyone.
      • When you turn 18, your account will automatically be converted to a regular share account. If you have a checking account, you will no longer be required to have an adult joint on your account. You will also be eligible to apply for a Visa® card** or an installment loan.

If you're not already a DP Savers Club member, become one today!

* Only available to DP’s Kids Club and DP Savers Club accounts.

** Some restrictions apply.

+ See Credit Union for disclosure information.

++ Checking account required.

See Credit Union for disclosure information. See Credit Union for disclosure information on excessive use charges.

 

Health Savings Account

A Health Savings Account (HSA) is a tax-advantaged account owned by an individual that is used to accumulate savings to pay for current and future health care expenses. Contributions are tax-deductible, dividends earned is tax-deferred, and withdrawals for qualified medical expenses are tax-free.

Account Benefits

      • Protection – save money for high or unexpected medical bills
      • Affordability – higher deductibles mean lower premiums
      • Savings – deduct your contributions and defer tax on the earnings
      • Flexibility – contribute at any time and roll the balance from year to year
      • Portability – you own the account, even if you change jobs or insurance providers
      • Investing – powerful tool for retirement savings

Eligibility

HSA eligibility is defined in IRS Publication 969.  To qualify to open and contribute to an HSA, you must:

      • Be covered by a high-deductible health plan (HDHP)
      • Not be covered by another health plan
      • Not be enrolled in Medicare
      • Not be claimed as a dependent on someone else’s tax return

High-Deductible Health Plan Requirements for an HSA

Tax YearSingle Coverage HDHP Minimum DeductibleSingle Coverage HDHP Maximum Out-of-PocketFamily Coverage HDHP Minimum DeductibleFamily Coverage HDHP Maximum Out-of-Pocket
2024$1,600$8,050$3,200$16,100
2023$1,500$7,500$3,000$15,000
2022$1,400$7,050$2,800$14,100

Contributions

Prior to contributing to an HSA, the eligibility criteria outlined above must be met. The amount you can contribute depends on your HDHP coverage, your age, and the dates you were eligible to contribute during the year. Contributions can be made with pre-tax money through payroll deduction, or contributions can be made post-tax and then deducted from your income when you file your income tax return.

HSA Contribution Limits

Tax YearSingle Coverage Annual Contribution LimitFamily Coverage Annual Contribution Limit55+ Catch Up
2024$4,150$8,300$1,000
2023$3,850$7,750$1,000
2022$3,650$7,300$1,000

Distributions

DoverPhila’s Health Savings Accounts were designed with your individual needs in mind. Accounts have allowable withdrawals for qualified medical expenses for the HSA owner, the owner’s spouse, and the owner’s dependents. Qualified medical expenses are defined in IRS Publication 502. Some examples include doctor visits, prescribed medicines, and surgeries.

Account Features:

Contact DoverPhila for more information.
Not intended as tax advice. Please consult your financial and/or tax adviser.

Educational Savings Account

Coverdell ESA

A Coverdell Education Savings Account (ESA) helps you save money to pay for your child’s current and future education expenses, such as tuition, fees, books, and supplies. Unlike state 529 plans, Coverdell ESAs can be used to pay for qualified elementary and secondary education expenses, in addition to post-secondary expenses.

Contributions to a Coverdell ESA are never tax-deductible. However, earnings grow on a tax-deferred basis, and distributions are tax-free if the money is used to pay for qualified education expenses. Anyone who meets the income requirements can contribute to your child’s ESA. Total annual contributions for each child cannot exceed $2000, and contributions must stop once your child reaches age 18.

Passbook ESA

      • No minimum balance required
      • Make deposits or withdrawals at any time in any amount with no dividend forfeiture penalty
      • Use payroll deduction/direct deposit to make deposits easily
      • Dividends are compounded daily and paid monthly
      • No custodial fees

Certificate ESA

      • $500 minimum balance
      • Lock in a rate for a specific term
      • Same terms/conditions apply as with share certificates
      • Dividends are compounded daily and paid monthly
      • No custodial fees
      • Dividend forfeiture for principal monies withdrawn prior to the maturity

Individual Retirement Account

Securing your financial future starts with making the right choices today.

Planning for retirement is one of the most important financial decisions you will make. Our Individual Retirement Accounts (IRAs) help you save and invest for a comfortable and secure future. Whether you are looking for tax-deferred growth or tax-free withdrawals, we have the right IRA option to meet your needs.

Why choose DoverPhila for your retirement needs?

  • Personalized Guidance: Our knowledgeable IRA specialist can help you choose the IRA that best fits your retirement goals.
  • Competitive Rates: Benefit from attractive interest rates that maximize your savings potential.
  • Low Fees: Enjoy no or low maintenance fees, ensuring more of your money goes towards your retirement savings.
  • Secure and Insured: Your funds are federally insured up to $250,000 by the National Credit Union Administration (NCUA).

Roth IRA: Enjoy Tax-Free Withdrawals

A Roth IRA is funded with after-tax dollars, meaning you won’t receive an immediate tax deduction. However, the benefit comes in retirement when your withdrawals, including earnings, are entirely tax-free, provided certain conditions are met.

A Roth Individual Retirement Account (Roth IRA) is available to anyone who has earned compensation and whose income falls below the limits set forth by Congress. Contributions to a Roth IRA are made after-tax, so there are no tax deductions for these contributions. However, your earnings grow tax-deferred, and withdrawals are tax-free as long as the funds have been in your account for at least 5 years and you are either over age 59½, disabled, buying your first home, or paying qualified education expenses.

  • Dividend forfeiture for principal monies withdrawn prior to the maturity

Traditional IRA: Save with Tax-Deferred Growth

Traditional IRAs are available to anyone regardless of age that has earned compensation. A traditional IRA may provide you with significant immediate tax savings since contributions are tax-deductible if you qualify. Income tax on the earnings is tax-deferred until you withdraw the funds. Minimum withdrawals are required once you reach age 73.*

      • Dividend forfeiture for principal monies withdrawn prior to the maturity
*The minimum withdrawal age was raised from 72 to 73 in 2023. If you turned 72 in 2022, you should have taken your first RMD by April 1, 2023 and made another one by the end of 2023. If you turned 72 in 2023, you do not have to take an RMD until 2024 (when you turn 73), which will be due by April 1, 2025.

Maximum Contributions

Tax YearContribution Limit50+ Catch Up
2024$7,000$1,000
2023$6,500$1,000
2022$6,000$1,000

Additional Retirement Options

Passbook IRA

Combining the benefits of a classic passbook with the tax advantages of an IRA, our Passbook IRA provides a simple and reliable solution to help you achieve your retirement goals.

      • No minimum balance required
      • Make deposits or withdrawals at any time in any amount with no dividend forfeiture penalty
      • Use payroll deduction/direct deposit to make deposits easily
      • Dividends are compounded daily and paid monthly
      • No custodial fees

Certificate IRA

Our Certificate IRA is an excellent choice for those looking to maximize their retirement savings with a fixed-rate investment.

      • $500 minimum balance
      • Lock in a rate for a specific term
      • Same terms/conditions apply as with share certificates
      • Dividends are compounded daily and paid monthly
      • No custodial fees
      • Dividend forfeiture for principal monies withdrawn prior to the maturity

Not-For-Profit

Discover how DoverPhila's not-for-profit accounts empower your organization's mission.

As a not-for-profit credit union, we appreciate the unique governing structure of not-for-profits, their need to keep expenses in check, and their desires to show results for programming. For that reason, our not-for-profit account offers all of the great features and benefits of our business checking account, but without the monthly service charges (waived for qualified 501c3, not-for-profit organizations).

Why choose DoverPhila for your not-for-profit?

Account Features:

*While your first order of checks needs to be made through a DoverPhila branch location, you can reorder checks quickly and easily online.

Account Opening

Open your account online with DoverPhila Federal Credit Union.

As a resident of Tuscarawas County, you are eligible to join DoverPhila. Anyone who lives, works in, worships in, or attends school in Tuscarawas County is eligible for membership. 

Join today and take advantage of the benefits of credit union membership. We’re here to support your financial journey with personalized service, competitive rates, and a commitment to your financial well-being. Once you become a member, we gladly extend our credit union membership perks to any member of your immediate family.

Opening any personal account at DoverPhila will require individuals to present the following:

  1. A valid driver’s license.
  2. Social Security Number (either issued card or government document).
  3. Proof of address, if:
    • Address differs from your driver’s license – proof must be within the last six months.
    • Driver’s license has been issued within the last 30 days, even if the address listed is correct. Proof must be within the last six months.

Savings Account Options

Your savings journey begins at DoverPhila.

Why choose DoverPhila’s savings accounts?

Share Master Account (Regular Savings) for Membership

Your DoverPhila membership starts with a minimum deposit of $5.00 into a Share Master Account. After the minimum deposit is made, you get instant access to exclusive benefits and other credit union accounts, products, and services.

Account Features:

Additional Savings Account Options

Daily Share Account (Extra Savings)

Our Daily Share Account earns the same dividend as our Share Master Accounter. This account is an additional savings account for special saving purposes without having to open a new membership account.

Account Features:

Custodial Share Account (Under the Age of 18)

Secure your child’s future with a DoverPhila Custodial Savings Account. This savings account is set up by an adult (the custodian) on behalf of a minor (the beneficiary). The custodian manages the account until the child reaches the age of majority, at which point the account legally transfers to the child.

Account Features:

Checking

Manage your daily finances with ease.

Our checking accounts offer you the very best we have to offer. We bolstered the benefits by flat-lining the fees to provide a straightforward checking that works the way you want it to work. Welcome to checking made simple.

Why choose a DoverPhila checking account?

Account Features:

Reorder Checks

We've streamlined the process to make ordering your checks a breeze.

We have two convenient options for ordering checks, so that you always have a fresh supply of checks on hand, ready for any payments or transactions you need to make.

  1. Visit your nearest DoverPhila branch office to place your order.
  2. Order online from Main Street. Click here to order today!

Please keep the following in mind if you order online from Main Street:

      • Your name and address must be the same as the name and address on your account at DoverPhila.
      • Their standard shipping is “USPS 1st Class.” Business packages have a higher delivery fee due to the size and bulkiness of the order.
      • Senior checks can be any of the standard styles with 90 checks per box in either single or duplicate.

If you have not ordered your free checks before, please visit one of our branch offices to order.

Image of DP Owl writing a check to pay bills

Money Market

Grow your savings with our insured Money Market Accounts.

Our Money Market Account gives you the best of both worlds with the freedom to withdraw money when you need to without penalty or sacrificing earning potential. It’s an ideal choice if you’re looking to earn more on your savings while maintaining access to your funds.

How you benefit from a DoverPhila Money Market Account?

  • Short-Term Savings: Save for short-term goals while earning higher dividends compared to traditional savings accounts.
  • Emergency Fund: Build a stable financial cushion with easy access to your funds in case of unexpected expenses.
  • Investment Alternative: Money Market Accounts are a conservative investment option with relatively low risk and steady returns.
  • Financial Stability: Protect and grow your savings with a reliable account that offers competitive rates and flexible access.

Account Features:

Club Savings Accounts

Summer fun or festive cheer, DoverPhila has you covered!

We offer Christmas Club and Vacation Club Accounts – or for anything in between – that provide a structured and disciplined approach to saving, ensuring you can enjoy those special moments without financial stress. Embrace the joy of planning and saving for your favorite seasons with us!

How do you benefit from a DoverPhila club account?

  • Structured Savings: Save consistently throughout the year by setting up automatic deposits to make saving effortless or make regular contributions.
  • Goal-Oriented: Focus your savings on specific goals to make it easier to budget for seasonal expenses, to avoid the stress of debt, and to plan with confidence knowing that you have the funds set aside.
  • Earn Dividends: Your deposits earn competitive dividends, maximizing your savings potential and helping you reach your goals faster.
  • No Monthly Fees: Enjoy fee-free accounts with no minimum balance requirements, ensuring your savings work for you without extra costs.
  • Accessibility: Access your funds when you need them for your planned expenses at any of our five full-service locations.

Account Features:

Certificate Accounts

DoverPhila's certificate accounts maximize earnings without risking principal.

Our certificate accounts offer fixed rates for a set term of your choice. They are a great, risk-free investment option if you do not need immediate access to your funds and want to invest for longer periods of time to receive higher dividends.

How It Works:

  • Commit to deposit a fixed sum of money for a fixed period for dividends.
  • Redeem your certificate at maturity. DoverPhila pays you the money you originally invested, plus any accrued dividends.
  • Early-withdrawal penalty or forfeit a portion of the dividends earned if you withdraw funds your prior to maturity.

How do you benefit from a DoverPhila certificate account?

Account Features:

*Members pay an early-withdrawal penalty or forfeit a portion of the dividends earned if they withdraw funds prior to certificate maturity.

Individual Retirement Account

Securing your financial future starts with making the right choices today.

Planning for retirement is one of the most important financial decisions you will make. Our Individual Retirement Accounts (IRAs) help you save and invest for a comfortable and secure future. Whether you are looking for tax-deferred growth or tax-free withdrawals, we have the right IRA option to meet your needs.

Why choose DoverPhila for your retirement needs?

  • Personalized Guidance: Our knowledgeable IRA specialist can help you choose the IRA that best fits your retirement goals.
  • Competitive Rates: Benefit from attractive interest rates that maximize your savings potential.
  • Low Fees: Enjoy no or low maintenance fees, ensuring more of your money goes towards your retirement savings.
  • Secure and Insured: Your funds are federally insured up to $250,000 by the National Credit Union Administration (NCUA).

Roth IRA: Enjoy Tax-Free Withdrawals

A Roth IRA is funded with after-tax dollars, meaning you won’t receive an immediate tax deduction. However, the benefit comes in retirement when your withdrawals, including earnings, are entirely tax-free, provided certain conditions are met.

A Roth Individual Retirement Account (Roth IRA) is available to anyone who has earned compensation and whose income falls below the limits set forth by Congress. Contributions to a Roth IRA are made after-tax, so there are no tax deductions for these contributions. However, your earnings grow tax-deferred, and withdrawals are tax-free as long as the funds have been in your account for at least 5 years and you are either over age 59½, disabled, buying your first home, or paying qualified education expenses.

  • Dividend forfeiture for principal monies withdrawn prior to the maturity

Traditional IRA: Save with Tax-Deferred Growth

Traditional IRAs are available to anyone regardless of age that has earned compensation. A traditional IRA may provide you with significant immediate tax savings since contributions are tax-deductible if you qualify. Income tax on the earnings is tax-deferred until you withdraw the funds. Minimum withdrawals are required once you reach age 73.*

      • Dividend forfeiture for principal monies withdrawn prior to the maturity
*The minimum withdrawal age was raised from 72 to 73 in 2023. If you turned 72 in 2022, you should have taken your first RMD by April 1, 2023 and made another one by the end of 2023. If you turned 72 in 2023, you do not have to take an RMD until 2024 (when you turn 73), which will be due by April 1, 2025.

Maximum Contributions

Tax YearContribution Limit50+ Catch Up
2024$7,000$1,000
2023$6,500$1,000
2022$6,000$1,000

Additional Retirement Options

Passbook IRA

Combining the benefits of a classic passbook with the tax advantages of an IRA, our Passbook IRA provides a simple and reliable solution to help you achieve your retirement goals.

      • No minimum balance required
      • Make deposits or withdrawals at any time in any amount with no dividend forfeiture penalty
      • Use payroll deduction/direct deposit to make deposits easily
      • Dividends are compounded daily and paid monthly
      • No custodial fees

Certificate IRA

Our Certificate IRA is an excellent choice for those looking to maximize their retirement savings with a fixed-rate investment.

      • $500 minimum balance
      • Lock in a rate for a specific term
      • Same terms/conditions apply as with share certificates
      • Dividends are compounded daily and paid monthly
      • No custodial fees
      • Dividend forfeiture for principal monies withdrawn prior to the maturity

Educational Savings Account

Coverdell ESA

A Coverdell Education Savings Account (ESA) helps you save money to pay for your child’s current and future education expenses, such as tuition, fees, books, and supplies. Unlike state 529 plans, Coverdell ESAs can be used to pay for qualified elementary and secondary education expenses, in addition to post-secondary expenses.

Contributions to a Coverdell ESA are never tax-deductible. However, earnings grow on a tax-deferred basis, and distributions are tax-free if the money is used to pay for qualified education expenses. Anyone who meets the income requirements can contribute to your child’s ESA. Total annual contributions for each child cannot exceed $2000, and contributions must stop once your child reaches age 18.

Passbook ESA

      • No minimum balance required
      • Make deposits or withdrawals at any time in any amount with no dividend forfeiture penalty
      • Use payroll deduction/direct deposit to make deposits easily
      • Dividends are compounded daily and paid monthly
      • No custodial fees

Certificate ESA

      • $500 minimum balance
      • Lock in a rate for a specific term
      • Same terms/conditions apply as with share certificates
      • Dividends are compounded daily and paid monthly
      • No custodial fees
      • Dividend forfeiture for principal monies withdrawn prior to the maturity

Health Savings Account

A Health Savings Account (HSA) is a tax-advantaged account owned by an individual that is used to accumulate savings to pay for current and future health care expenses. Contributions are tax-deductible, dividends earned is tax-deferred, and withdrawals for qualified medical expenses are tax-free.

Account Benefits

      • Protection – save money for high or unexpected medical bills
      • Affordability – higher deductibles mean lower premiums
      • Savings – deduct your contributions and defer tax on the earnings
      • Flexibility – contribute at any time and roll the balance from year to year
      • Portability – you own the account, even if you change jobs or insurance providers
      • Investing – powerful tool for retirement savings

Eligibility

HSA eligibility is defined in IRS Publication 969.  To qualify to open and contribute to an HSA, you must:

      • Be covered by a high-deductible health plan (HDHP)
      • Not be covered by another health plan
      • Not be enrolled in Medicare
      • Not be claimed as a dependent on someone else’s tax return

High-Deductible Health Plan Requirements for an HSA

Tax YearSingle Coverage HDHP Minimum DeductibleSingle Coverage HDHP Maximum Out-of-PocketFamily Coverage HDHP Minimum DeductibleFamily Coverage HDHP Maximum Out-of-Pocket
2024$1,600$8,050$3,200$16,100
2023$1,500$7,500$3,000$15,000
2022$1,400$7,050$2,800$14,100

Contributions

Prior to contributing to an HSA, the eligibility criteria outlined above must be met. The amount you can contribute depends on your HDHP coverage, your age, and the dates you were eligible to contribute during the year. Contributions can be made with pre-tax money through payroll deduction, or contributions can be made post-tax and then deducted from your income when you file your income tax return.

HSA Contribution Limits

Tax YearSingle Coverage Annual Contribution LimitFamily Coverage Annual Contribution Limit55+ Catch Up
2024$4,150$8,300$1,000
2023$3,850$7,750$1,000
2022$3,650$7,300$1,000

Distributions

DoverPhila’s Health Savings Accounts were designed with your individual needs in mind. Accounts have allowable withdrawals for qualified medical expenses for the HSA owner, the owner’s spouse, and the owner’s dependents. Qualified medical expenses are defined in IRS Publication 502. Some examples include doctor visits, prescribed medicines, and surgeries.

Account Features:

Contact DoverPhila for more information.
Not intended as tax advice. Please consult your financial and/or tax adviser.

Youth Savings – Savers Club

For Teens Ages 13-17

Whether you’re babysitting, mowing lawns, work a part-time job after school or receive an allowance, chances are this is the stage of life where you’re earning money for the first time. Learning how to manage your money now will pay dividends throughout life. With a DP Savers Club account, you’ll be able to develop solid money management, budgeting, and good credit practices.

Now is the time to start saving and looking toward your future. A DP Savers Club account will give you a jump start on achieving your goals.  If you’re saving for your first car or college, we’re here to help.  DoverPhila offers many products and services that will help you stay focused on financial goals.

Dover Phila Savers Club

Membership Benefits:

      • Earn dividends on savings and checking accounts.
      • Certificate Accounts with low $250 minimum balance*.
      • Fun and educational quarterly newsletters with contests.
      • Exclusive savings event to earn bonuses and win giveaways.
      • Semi-annual savings incentive postcards.
      • Free access to Banzai, an award-winning, online financial program.

Join Today

Simply open a DP Savers Club account with an initial deposit of $5 or more.  If you already have a DoverPhila account, you can transfer it to a DP Savers Club account. No additional deposit is required.  If you currently have a custodial account, you will need to open a separate DP Savers Club account.

Additional Benefits:

      • At age 16, you can apply for a MasterCard® Debit Card+, with a parent joint on your account.  A debit card allows you to pay for purchases directly from your checking without the hassle of writing a check.
      • Online services consist of On Line-On Time® home banking, eStatements, and online bill pay++.
        • On Line-On Time® home banking is available to all members at no charge. You can sign up online or at any branch. Online access allows you to make transfers, view accounts, and make payments on your loan accounts with the credit union.
        • Online bill pay is also free. This service allows you to make payments to anyone.
      • When you turn 18, your account will automatically be converted to a regular share account. If you have a checking account, you will no longer be required to have an adult joint on your account. You will also be eligible to apply for a Visa® card** or an installment loan.

If you're not already a DP Savers Club member, become one today!

* Only available to DP’s Kids Club and DP Savers Club accounts.

** Some restrictions apply.

+ See Credit Union for disclosure information.

++ Checking account required.

See Credit Union for disclosure information. See Credit Union for disclosure information on excessive use charges.

 

Youth Savings – DP’s Kids Club

For Kids Ages 12 & Under

Parents, do you want to help your children learn to manage money? Then bring your children, ages 12 and under, to any DoverPhila branch and open their very own savings account through DP’s Kids Club.

By joining the club, children learn to manage money early and reap the special rewards this account offers.

DP's Kids Club image

Join Today

Simply bring your child, their social security card, birth certificate, and a deposit of $5 (or more) to any of our five convenient locations and activate their account. It’s that easy!

If your child already has a DoverPhila savings account, you can open a DP’s Kids Club account for your child. No additional deposit is required. (Note: If you currently have a custodial account, you will need to open a separate account for the DP’s Kids Club.)

DP's Kids Club Benefits

Here are just some of the benefits that come with DP’s Kids Club membership:

      • Fun Gifts– Kids receive a postcard in the mail each quarter with an incentive to save their money.
      • Membership Card – The official club membership card – kids love them!
      • Exclusive Savings – Certificate Accounts with low $250 minimum balance*.
      • Games & Contests – Quarterly contest with cash prizes.
      • Quarterly Newsletter – Credit union news and money facts tailored specifically to kids.
      • Special Events – Youth Week, always the last full week in April, celebrates our youngest members with a bonus on deposits and fun giveaways.
      • Financial Tools for Kids – Education is the key to success. Club activities and tools are designed to help kids learn money management.
      • Access to Banzai – An award-winning, online financial literacy program that allows members to discover real-world finances through “learning by doing.”
      • And More!

Early education is crucial to adopting lifelong money management skills. Working together we can help children learn to successfully manage their money. By joining the kids club, kids are given the opportunity to learn the value of saving money while also having fun.

When your child reaches the age of 13, their financial education really kicks into gear. Their membership will automatically be converted to a DP Savers Club membership.

*Only available to DP’s Kids Club and DP Savers Club accounts.

Not-For-Profit

Discover how DoverPhila's not-for-profit accounts empower your organization's mission.

As a not-for-profit credit union, we appreciate the unique governing structure of not-for-profits, their need to keep expenses in check, and their desires to show results for programming. For that reason, our not-for-profit account offers all of the great features and benefits of our business checking account, but without the monthly service charges (waived for qualified 501c3, not-for-profit organizations).

Why choose DoverPhila for your not-for-profit?

Account Features:

*While your first order of checks needs to be made through a DoverPhila branch location, you can reorder checks quickly and easily online.

Account Opening

Open your account online with DoverPhila Federal Credit Union.

As a resident of Tuscarawas County, you are eligible to join DoverPhila. Anyone who lives, works in, worships in, or attends school in Tuscarawas County is eligible for membership. 

Join today and take advantage of the benefits of credit union membership. We’re here to support your financial journey with personalized service, competitive rates, and a commitment to your financial well-being. Once you become a member, we gladly extend our credit union membership perks to any member of your immediate family.

Opening any personal account at DoverPhila will require individuals to present the following:

  1. A valid driver’s license.
  2. Social Security Number (either issued card or government document).
  3. Proof of address, if:
    • Address differs from your driver’s license – proof must be within the last six months.
    • Driver’s license has been issued within the last 30 days, even if the address listed is correct. Proof must be within the last six months.
A SIMPLE $5 DEPOSIT IS ALL IT TAKES.

Holiday Closure: All DoverPhila locations will be closed Thursday, July 4th.

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