Share Savings...Your Primary savings/membership account with the credit union. The primary savings is established when you join the credit union with an initial $5 membership amount.
The Primary Savings is the account that you can continue to use to build your savings through direct deposit, mail-in deposits or making deposits by cash or check directly at the Credit Union. This is also the account that your monthly loan payments come out of on the 15th of each month.
As your balance in your Share Savings account grows, so does your interest. We use a tiered rate system and as your balance increases over the next tiered amount your annual rate of interest increases automatically. It is not unusual for our annual percentage rate (APR) to be 2, 3 or 4 times the savings APR at other financial institutions.
Your savings in your Share Account, over and above your loan pledged amount, can be withdrawn at any time by check. You can stop at the Credit Union, call the Credit Union to request a withdraw or use our Audio Response System to make a withdrawal from your account.
This account also serves as your "Overdraft Protection" on your checking account at the Credit Union. If checks are presented and there is not sufficient funds in your checking account to cover the check we will automatically transfer funds from your "available" savings to your checking. This saves you the embarrassment of having a check returned for insufficient funds, the return check fees charged by the Credit Union and the organization to whom the check was given.
YOUR DEPOSITS AT THE CREDIT UNION ARE SAFE AND SECURE AND A GOOD INVESTMENT
