Savings accounts

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Shares


Becoming a Member means opening a Share account. This is a basic savings account with a $5.00 minimum balance. The $5.00 is your “share”, or piece of stock in your Credit Union. It means that you are an owner of the Credit Union, and that you can apply for any product or service that the Credit Union offers, attend and vote at the Credit Union’s Annual Meeting, and even run as a candidate for the Board of Directors yourself!

 

Club Accounts


A great way to manage your different savings goals is to put your money in different savings “club” accounts. Choose from one of our more common club accounts like a vacation club. Your money is just as available to you, and earns the same interest rates as it would in your share account. You can then arrange for a specific amount to be deposited into each club account from each paycheck, and/or you can make additional deposits or withdrawals from any club account at any time.

 

Holiday Club


While similar to other club accounts in some ways, the Holiday Club is very different in that it generally pays a higher interest rate than other club accounts, and that it has both a maturity date and a penalty for withdrawing funds before that maturity date.

So if you tell us to put $20.00 from each bi-weekly paycheck in to your new Holiday Club, your money will build up each pay period and earn a premium interest rate until the first week of October. Then, all of your funds deposited and all of the interest earned is automatically transferred from your Holiday Club to your checking account (or your share account, if you don’t have a checking account). This gives you cash at a time of year that you may really need it (holiday travel and shopping, rising heating bills, aftershocks of back-to-school bills, etc.). After paying out to your checking account, your Holiday Club then continues to build for the next year.

You can start a Holiday Club at any time and it will always mature in the first week of October. You can always withdraw your funds prior to the maturity date, though any such withdrawals will carry a $10.00 penalty (a helping hand to encourage you to leave these funds untouched until maturity).

 

Share Certificates


If you want to make more with your money than the dividend rates then a saving account provides, a share certificate maybe the savings solution you’re searching for.

All share certificates have a fixed “term”, which is a number of months or years it will take to reach maturity.  Click here to view our share certificate rates. Remember that the published interest rate is just the beginning. Your rate could be much higher based on:

Have your entire paycheck (or pension; or social security) directly deposited?
Add 0.25% to your certificate rate!

Have CUOnlineUHS e-Statements?
Add 0.25% to your certificate rate!

Have a total of more that $20,000.00 in certificates with us?
Add 0.25% to your certificate rate!

Have 100% of your loans with your Credit Union?
Add 0.50% to your certificate rate!

During the term of your share certificate you typically can not take your money out-without a penalty.  So when you put your money into a Share Certificate, you will want to make sure that the term is a duration of the time you can live without the money.