Share Savings
A share savings account is the account that establishes membership at the Credit Union. Open the account with a minimum $10 deposit. The initial $10 establishes ownership and grants you access to all the Credit Union products and services.
Features and Benefits:
- Increased dividends as your balance increases
- Free Online Banking & eStatements
- ATM card access to thousands of CO-OP Network surcharge-free ATMs
- Free Direct deposit of paychecks or other recurring income
- Private deposit insurance coverage up to $250,000 per account by American Share Insurance. By choice, this financial institution is not federally insured
- Immediate family members may open an account once your account is established
Personal Savings
Organize your savings by opening a separate savings account for a specific need – car insurance, summer camp for the kids, or an emergency fund. Just $10 opens the account and it pays the same dividend rate as your share savings account.
Features and Benefits:
- Up to three personal savings accounts. A holiday, vacation and club account
- You decide when and how much goes in and how much comes out of your savings account every day
- Interest paid on every dollar on deposit
Custodial Accounts
This account is administered by an adult for the benefit of a child. The adult determines when and how the funds should be used for the benefit of the child. The adult also determines when to turn the funds over to the child – age 18 or 21. As a special bonus for our youngest members, if the custodial share savings account is opened before the child’s first birthday, the Credit Union will deposit $25 to get the savings started.
Feature and Benefits:
- Funds are put aside specifically for the child’s benefit
- Earns dividends/interest on every dollar
- The funds can be transferred to a Certificate of Deposit and Money Market Account under the same primary savings account
- The child cannot access the money without the adult custodian’s approval
Club Share Savings
Associations, organizations and clubs can open accounts too. The Club Share has most of the same features and benefits as a primary share savings account. Contact either branch for additional details.
Teen Share Savings Account
The same membership rules apply to everyone, no matter the age. Getting a share savings account started only takes a $10 deposit. As long as that $10 says in the share savings accounts, that account does not require an adult co-signer or parent.
Features and Benefits:
- Only $10 minimum deposit to open account
- Only $1 minimum balance to earn dividends which are calculated and deposited to the account monthly
- The account is tiered – the more saved the more earned
- No adult co-signer necessary
- Additional products and services available specifically for teen adventures
- This account is insured up to $250,000 by American Share Insurance. By members’ choice, this financial institution is not federally insured.
