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Products & Services: savings
Savings Services
Whenever
you put money into your Credit Union savings account, you
are purchasing a share in the ownership. Each member’s
savings, in total, is insured up to $250,000 by the National
Credit Union Administration. Here are some important facts
to remember about your share insurance:
- Not one penny of insured savings has ever been lost by
a member of a federally insured credit union;
- Insured credit unions are required to deposit and maintain
one percent of their insured shares and deposits in the
fund. The insurance fund is currently at the strongest and
best reserved level in its history.
- As a member of an insured credit union, you do not pay
directly for your share insurance program. Your Credit Union
pays an insurance assessment into the fund, based on the
total amount of insured shares and deposits in the credit
union.
The Credit Union offers a basic share savings,
savings bonds, a premier money market
account, share draft checking, along
with an Individual Retirement Account where
deposits can be made throughout the year, and accounts to
accumulate savings for special occasions such as: Holiday,
Vacation, and Personal Club Accounts.
For current rates, click here.
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