Share Accounts


Savings in a credit union are called shares, because by depositing these funds, you, in essence, own a part of the credit union.

 

You can open your share account by simply making a deposit of $25.00 or more. Each share account is insured to $250,000.00 by an agency of the United States Government.


Dividends


Quarterly dividends are paid on your shares at the end of March, June, September and December of each year. The dividend rate may vary according to the credit union's net earnings for each quarter. It should be noted that your shares are fluid every three months. They earn dividends for each month if they remain on deposit through the end of the quarter.

 

Tax Records

 

Computer printed statements on account will be mailed to each member just after the end of each quarter. These statements will reflect all share and loan transactions in your account during the quarter. The four statements received each year provide a permanent tax record.

 

Payroll Deductions

 

ou may want to participate in your company's payroll deduction plan to increase your credit union shares or to repay a loan. Your paycheck stub reflects each deduction which is forwarded to the credit union. All member accounts accurately record share and loan transactions and produces accounting records.

 

Insurance

 

Each $1.00 of your share account up to the first $2,000.00 on deposit in each account also represents a "no-cost-to-you" life insurance policy for insurable members, according to the following tables:

 

Funds deposited between the ages of: Beneficiary will receive insurable share balance of:

6 mos. and 55 years

55 years and 60 years

60 years and 65 years

65 years and 70 years

Over 70 years

100%

75%

50%

25%

0%

Current Rates

 

Share Certificates

Term

6 months

12 months

Rate

.65% / .6519% APY

.75% / .7526% APY

Share Dividends

Amount

$100 - $500

$500 - $5000

$5000 +

Rate

0.15%

0.35%

0.50%

New Vehicle & Motorcycle

Credit Score

Tier 1

Tier 2

Tier 3

Rate

2.50%

4.50%

6.50%

Used Vehicle & Motorcycle

Credit Score

Tier 1

Tier 2

Tier 3

 

Rate

2.95%

4.95%

7.50%

Signature Loans

Credit Score

Tier 1

Tier 2

Tier 3

 

 

 

Rate

9.50%

11.50%

13.50%

 

 

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