Share Savings Accounts
The purpose of a Regular Share Account is two- fold. Besides a place to save your money, this account is actually a required account at a credit union because it is what makes you a member. In fact, the minimum required balance of a regular share account represents your “share” or ownership in the credit union. Being an owner means you get to vote on who represents you on your board of directors, so you are in control of your credit union.
A deposit of $5.00 will establish your share account and make you eligible for all other services.
A deposit of $25.00 or more will earn you dividends.
Dividends are paid on the daily average balance, and posted to your Share Account on the last day of the quarter.
Club Accounts are special type of savings account. You deposit money toward a specific goal. Club Accounts typically offer a slightly higher dividend rate than regular shares.