Share Account & Other Accounts
What is a Federal Credit Union Share Account?
Share Account is Your Savings Account
This is your initial account with the Credit Union.
Every member must deposit at least $25.00 to open a Share Account.
Deposits can be made in person, by mail, or the simplest way to save, by Payroll Deduction.
Direct Deposit is another way to make deposits to your Share Account.
The Share Account pays periodic dividends on balances of $300.00 or more at rates set by the Board of Directors.
Term Share Accounts
This account is designed to meet your investment needs.
An IRA is a personal tax sheltered plan developed to help individuals plan and build a secure and comfortable retirement. Federal law allows contributions up to $3,500.00 each year. If you have a non-working spouse, you may contribute an additional $3,500.00. Your yearly earnings may affect the amount of your yearly tax deductible contribution. (Please check with your accountant on this.) Contributions may be deposited over a year, or lump sum annually. Give us a call for current rate information.
Holiday Savings Account
The Credit Union can make your special events even brighter by helping you save for the occasion. This set aside account is an excellent way to save for one of your major expenses of the year. You can open this account anytime during the year. This account will be handled like a share savings account.