Savings Accounts

Regular Share Accounts
Savings at your Credit Union are called "Shares." A minimum deposit of $25.00 is required to open and maintain the account.

Dividends are earned daily and paid quarterly on accounts that have a balance of $100.00 or more. This account confers ownership rights to the member and proveds for continuing membership in the credit union.

All members shall be required to maintain a Regular Share Account in order to qualify for additional credit unions services.

Share accounts may be individually or jointly owned. Accounts may be opened for dependent children and family members.

Money saved in the credit union is always readily available, except if used as collateral for a loan.

Christmas Club Account
The Christmas Club account is established as a special savings account which allows a member to earmark certain funds for this seasonal spending need. Members may increase, decrease or discontinue deposits to the Christmas Club at anytime. Every October, the credit union will withdraw all funds.If the amount is over $500, a check will be issued, otherwise the amount will be deposited to the savings account. Members are asked to contact the credit union in October to identify where they would like to receive the funds. Early withdrawal of funds is allowed.

Vacation Club Account
Vacation Club Accounts may be opened anytime during the year and funds may be withdrawn at the owner's discretion.

IRA Shares
An Individual Retirement Account shall be used for the specific purpose of saving funds to be used by the owner upon retirement. The credit union program is currently administered by the CUNA Service Group.

Share Certificates
A Share Certificate is a savings account which earns dividends over a specified term of 6 months, 12 months or 18 months. A minimum balance of $1,000 is required for this account. Penalties of early withdrawal equal the amount of interest not yet posted to the certificate account.

Dividends
Dividends shall be set at a rate based upon available earnings. Dividend rates may vary among all account types and maturities. The Board of Directors reviews and adjusts rates at least quarterly.

NCUA Share Insurance
The credit union is insured by the National Credit Union Administration Insurance Fund for an aggregate amount of up to $250,000. Amounts on deposit exceeding $250,000 will not be insured. Individual Retirement Accounts are insured seperately up to $250,000.

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