Share Accounts

Share Account

Your membership share in the credit union is a $25 minimum deposit which draws interest and remains on deposit while you are a member of the credit union.

Savings Accounts

The credit union offers a multiple number of savings (share) accounts under one account number. Use these accounts any way you like--regular savings, Christmas, vacation, insurance or taxes, or for children's accounts.

Money Market Account

This is an appealing and safe option for your investment. You must have a minimum balance of $1,000 to open this account. Interest is compounded and credited monthly. The is a tiered variable rate account.

Account Disclosure

Share Insurance

The shares in your credit union are insured by the National Credit Union Share Insurance Fund (NCUSIF), an arm of NCUA.  Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the NCUSIF is managed by NCUA under the direction of the three-person NCUA Board.  Your share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC).  The NCUA Share Insurance Estimator is an educational resource about share insurance and gives a detailed explanation of insurance coverage. The Your Insured Funds brochure gives a more detailed explanation of your insurance coverage.

Credit unions that are insured by the NCUSIF must display in their offices the official NCUA insurance sign which appears on the cover of this brochure.  All federal credit unions must be insured by NCUA, and no credit union may terminate its federal insurance without first notifying its members.

Here are some important facts to remember about your share insurance provided by the NCUSIF:

Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

As a member of a federally insured credit union, you do not pay directly for your share insurance protection. Your credit union places a deposit into the NCUSIF and pays an insurance assessment based on the total amount of insured shares and deposits in the credit union. Federally insured credit unions are required to deposit and maintain one percent of their insured shares and deposits in the NCUSIF.

Share accounts in federally insured credit unions are insured up to the Standard Maximum Share Insurance Amount (SMSIA), $250,000. You may obtain additional separate coverage on multiple accounts, but only if you have different ownership interests or rights in different types of accounts and you properly complete account forms and applications. For example, if you have a regular share account and an Individual Retirement Account (IRA) at the same credit union, the regular share account is insured up to $250,000 and the IRA is separately insured up to $250,000. However, if you have a regular share account, a share certificate, and a share draft account, all in your own name, you will not have additional coverage. Those accounts will be added together and insured up to $250,000 as your individual account.

Shares denominated in foreign currencies are insured as outlined in NCUA Rules and Regulations.

Coverdell Education Saving Accounts, formerly education IRAs, are insured as irrevocable trust accounts and will be added to a member’s other irrevocable trust accounts and insured up to the SMSIA. Roth IRAs will be added together with traditional IRAs and insured up to $250,000.

Additional coverage is available on revocable trust or payable on death accounts on a per beneficiary basis. A co-owner’s interest in all joint accounts in the same credit union will be added together and insured up to the SMSIA.

You may find the following publications and websites helpful: