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Share Accounts Designed for Saving

Would you really miss $10 a paycheck?

We know it is hard to get started with a savings plan so we have tried to make it simple. Begin your savings plan with one of our specially designed share sub-accounts.

You control your deposit. Deposits are easy:

  • Automatic transfer from your Prime Share or Share Draft Account to coincide with your payroll deposit
  • Net Teller Transfer (Free)
  • Audio Teller Transfer (Free)
  • In person at a Teller Window

Choose the one that suits you best. You're bound to keep your hands out of the cookie jar and save!

Special Share Savings Account

This type of sub-share account is designed as a longer term savings vehicle. The dividend paid is usually higher than our Prime Share Savings Accounts.

Prospective dividends are specified at the beginning of each month. Your Board of Directors declares the dividend at the end of each month for deposit to your share account. Please refer to the section on dividends starting at 'Rate Information' for more information.

There are some special rules attached to this account:

  • Transaction Limits apply on the number of withdrawals per month.
  • No Debit/ATM Card Access
  • No Automatic Transfers for overdraft protection but members can initiate transfers from Net Teller, Audio Teller and in person at a Teller Window

Club Share Accounts

Planning and saving for special events is a greater way to establish the discipline of living within a budget!

There are three Club Share Accounts to choose from:

Holiday Club Shares

Put a few dollars aside with each paycheck, so that when the gift giving season approaches you are ready to celebrate the season!

You control your deposits. Deposits are easy:

  • Automatic transfer from your Prime Share or Share Draft Account to coincide with your payroll deposit
  • Net Teller Transfer (Free)
  • Audio Teller Transfer (Free)
  • In person at a Teller Window

Earns a monthly dividend - prospective dividends are specified at the begriming of each month. Your Board of Directors declares the dividend at the end of each month for deposit to your share account. Please refer to the section on dividends starting at 'Rate Information' for more information.

Withdrawal Limitations:

  • Three at-will withdrawals per year.
  • One automatic withdrawal 1st week of October to clear account

This sub-account stays open from year to year.

Vacation Club

The first steps toward making that vacation getaway a fun filled reality is to save for it! Months before you go plan how much to spend and start saving. Saving money before you leave means less financial pain when you return.

You control your deposits. Deposits are easy:

  • Automatic transfer from your Prime Share or Share Draft Account to coincide with your payroll deposit
  • Net Teller Transfer (Free)
  • Audio Teller Transfer (Free)
  • In person at a Teller Window

Earns monthly dividend - Prospective dived ends are specified at the begriming of each month. Your Board of Directors declares the dividend at the end of each month for deposit to your share account Please refer to the section on dividends starting at 'Rate Information' for more information.

Withdrawal limitations:

  • Four at-will withdrawals per year

This sub-account stays open from year to year.

Special Purpose Club

Are you planning to buy that special wedding or engagement ring? Will you owe the IRS to much? Did your mortgage company not escrow your real estate taxes and insurance?

You control your deposits. Deposits are easy.

  • Automatic transfer from your Prime Share or Share Draft Account to coincide with your payroll deposit
  • Net Teller Transfer (Free)
  • Audio Teller Transfer (Free)
  • In person at a Teller Window

Earns monthly dividend - Prospective dividends are specified at the begriming of each month. Your Board of Directors declares the dividend at the end of each month for deposit to your share account. Please refer to the section on dividends starting at 'Rate Information' for more information.

Withdrawal Limitations:

  • Four at-will withdrawals per year

This sub-account stays open from year to year.

Share (savings) rates
Effective September 1, 2017

Prospective Rates & Terms Regular (Prime Shares) Special Share Savings Special Share Savings Holiday Club Shares Vacation Club Shares IRA Shares
Prospective dividend rate 0.05% 0.45% 0.55% 0.05% 0.05% 0.45%
Annual percentage yield (APY) 0.05% 0.45% 0.55% 0.05% 0.05% 0.45%
Dividend compounded Daily
Dividend period Monthly
Minimum opening deposit $25 up to $49,999.99 $50,000 & Over Maintenance of membership share
Minimum balance to avoid fees $25 None
Balance method Daily
Account limitations Transfer limitations apply

The Credit Union makes every effort to provide up-to-date information on the web- site. However, the Credit Union's official rate disclosures are available only at the Credit Union office. Members should verify current official rates with the Credit Union office.

Rate Information: The Dividend Rate and the Annual Percentage Yield (APY) on share accounts are listed above. The APY is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and the frequency of compounding for a 365-day period. The Dividend Rate and the APY may change every month as determined by the FRB Federal Credit Union Board of Directors.

Nature of Dividends: Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rate and the APY are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.

Dividend Calculation: Dividends are calculated using the daily balance method. This method applies a daily periodic rate to the balance in the account at the end of each day.

Dividend Accrual: Dividends begin to accrue on cash and non-cash deposits, such as checks, on the business day you make your deposit.

Compounding and Crediting: Dividends will be compounded daily and credited monthly. The dividend period is one month. The beginning date of the first dividend period of the calendar year is January 1, and the ending date is December 31. All other dividend periods follow this pattern of dates. The dividend declaration date follows the end date of a dividend period and, for the example, is January 31. The dividend declaration date is the date the FRB Federal Credit Union Board of Directors declares a dividend for the preceding dividend period.

Effects of Closing an Account: If you close your account before dividends are paid, you will not be paid the accrued dividends for the period.

Minimum Balance Requirements: To avoid a service fee, you must maintain a minimum daily balance of $25 in your Share Savings Account. If the daily balance falls below the minimum during any day, you will be charged a service fee of $2 for the period.

To earn the annual percentage rate disclosed, you must maintain a minimum daily balance of $25 in your Share Savings Account for each day of the dividend period.

Transaction Limits: For a Share Savings Account in which transfer limitations apply, no more than six (6) preauthorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any one month. No more than three of these six transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations your account may be subject to a fee or be closed.

Member Accounts


Open an account

One application is all that is needed to enroll for all of the following:
  • Checking and savings
  • Online account access
  • Phone account access
  • Visa® debit/photo/ATM card

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