SHARE SAVINGS
Share Savings Accounts are the building blocks for
the credit union.
They are used to fund the borrowing needs of members and to meet daily cash
requirements for withdrawals and operating expenses. In return for the use of their
funds, members are paid dividends on a quarterly basis. Dividends are paid from current income
and available earnings after required transfers to reserves at the end of the dividend
period. Share Savings Account balances are insured to at least $250,000 and
backed by the full faith and credit of the United State Government. Share Savings Account
features include:
►Easy access to your funds. Withdrawals may be made from our lobby, drive-thru,
at an ATM or
by mail.
►Save effortlessly with payroll deduction (where offered by employer).
►Direct Deposit and automatic debits available with no service charges. The
credit union's Routing & Transit Number is: 2515-8400-3.
►STAR® ATM access is available for inquiries, withdrawals, deposits and transfers.
Cardholders receive 3 free transactions per month. There is a $1.00 fee for each
transaction over 3 per month, with a maximum monthly fee of $5.00. Be sure to
look for the "Alliance One" logo for surcharge free transactions. You
may visit www.atmallianceone.org for
a complete participant listing.
►You may pledge some or all of your Share Savings Account as collateral to obtain a
preferred interest rate on a personal loan.
►A $100 minimum daily balance is required to earn the stated Annual Percentage Yield
for the dividend period.
After ninety days, a $100 minimum daily balance is required to avoid the $1.00
monthly service charge. The charge is waived for members with an active loan account, an active Share Draft
Checking Account or another share account with a $100 minimum daily balance.
With optional Overdraft Protection by Transfer, your Share Savings Account can be
linked to a Share Draft Checking Account to help avoid embarrassing and costly "NSF"
fees.
A deposit of $5.00 is required to open a Share Savings Account. A minimum balance of $5.00 is required to be considered an active member and utilize
our other services. You may withdraw the initial $5.00 only upon closing your account.
