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We offer several
different share accounts.
Regular
Share Account -
requires a minimum of $5; dividends are earned from date of deposit to date
of withdrawal, and are paid and compounded quarterly.
Term
Share Account -
requires a $5,000 minimum balance; terms are set; higher annual yields are
paid; dividends are earned daily and are paid and compounded monthly; there
is a penalty for early withdrawal, 120 days loss of dividends.
Individual
Retirement Account (IRA) - requires a minimum balance of $5; higher annual yields are
usually paid on this account; dividends are earned from date of deposit to
date of withdrawal and are paid and compounded quarterly; term share IRA's
are also available.
Dividends
on Shares
The credit union uses the average daily balance method of computing
dividends, which applies a periodic rate to the average daily balance for
the period. The average daily balance is calculated by adding the full
amount of principal in the account each day of the period, and then
dividing that figure by the number of days in the period.
Dividends will be earned
from the date of deposit to the date of withdrawal and will be paid and
compounded quarterly. For example, the beginning date of the first dividend
period of the calendar year is January 1, and ends March 31. All other
dividend periods follow this pattern except for term share accounts. The
dividend is posted the last day of each quarter.
Rates on savings
accounts are listed in the monthly MAXIMS newsletter which is included
with your statement. Also, you may obtain our current
rates on this website.
Share
Deposits
Share deposits can be made at our office or by mail. Payroll deductions are
provided for Bridgestone/Firestone employees. Also, we can receive direct
deposits from other companies and government agencies. Contact our office
for more information about payroll or direct deposits.
NCUA
Share Insurance
Accounts are insured up to at least $100,000 by the National Credit Union
Administration, an agency of the federal government. Full details on
insurance coverage on multiple accounts are available upon request.
Share Rates
Click here for a listing of share account rates.
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