The primary savings account of all members is called a share account since you actually own a share of the Credit Union and are entitled to vote in issues affecting the business thereof.

Deposits to this account may be made in person, by payroll deduction, automatic draft or by mail. There is a minimum balance requirement of $5.00 to maintain this account.

Dividends are paid quarterly and are based on the earnings of the credit union.

Click here for the current dividend rates.

 "REGULATION D ALLOWS ONLY SIX(6) TRANSFERS FROM SAVINGS PER MONTH"

What is Regulation D?

It is a Federal Regulation which limits the number of transfers, withdrawals or third party payments that can be made on or from your savings account (S1, S8 or S9).  The types of transactions that are limited are: Telephone Requests, Home Banking Transfers, Voice Response Transfers, ACH (such as a company withdrawing funds to make a payment for you) and System Generated Over Draft Transfers, and no more than three (3) of the six (6) may be made by check payable to third parties.  Your savings account is limited to 6 per month of any combination of these transactions.  (No more than three of the six may be made by a check payable to third parties)

The Regulation has been in effect many years but was most recently amended July 30, 1998. You may view the Regulation here.

SECTION 204.2—Definitions (Pages 8 and 9) is where this information is located.