Savings Accounts to Meet Your Goals

A Share Savings account in a credit union is the foundational savings account that establishes a person’s membership in the credit union. The term “share” refers to the fact that by depositing money into this account, the member is purchasing a share of ownership in the credit union.

• Membership Requirement: Opening a share savings account is typically required to become a credit union member. a small minimum deposit of $25 is required and must be maintained to keep the account open.

• Dividends: Instead of earning “interest” like at a bank, members earn dividends, which are distributions of the credit union’s earnings. The dividend rate may vary and is compounded monthly.

• Federally Insured: Like bank deposits are insured by the FDIC, credit union deposits are insured by the NCUA (National Credit Union Administration) up to $250,000 per member, per ownership category

Club Accounts are specialized savings accounts to help you save for specific goals like holidays or vacations.

For tips on effective budgeting, visit MyCreditUnion.gov for trusted financial advice.

Dividends are Credit Union terminology meaning Interest earned, and are calculated using the daily balance method and are posted monthly.

All deposits are federally insured up to $250,000, giving you peace of mind while you grow your savings. Learn more about NCUA insurance coverage