Share Account Options
Regular Share Account
A 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.
Single Account
A Single Account is an account held by one person only.
Joint Account
A Joint Account is an account held by a member and any other person(s); the joint owner(s) does not have to be a family member. A joint account requires signatures of all persons on the back of the membership card. Either person(s) may deposit and/or withdraw savings from the account. However, only the person(s) who are eligible for membership may borrow and vote at the annual election.
Payable on Death Account
A Payable on Death Account is a single account in which you designate a beneficiary to receive the proceeds in your account at your death.
Term Share Account
A 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.
Other Account Options
Individual Retirement Account (IRA)
An Individual Retirement Account 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.