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Telephone: 410.368.3125 |
Savings Accounts St. Agnes Federal Credit Union offers three types of savings accounts (in addition to IRAs and term Share Certificates). Share Savings Account Member savings are called Share accounts. The minimum deposit is $5, which
is equal to one share. All members must establish a share account when they
join. These accounts earn dividends using the Average Daily Balance method.
Dividends are paid on the first day of each quarter (January, April, July and
October) and are compounded quarterly. Dividends are not guaranteed and are
based on the income and expenses of the credit union on the last day of each
quarter. We make saving for that special purpose as easy as payroll deduction -- save
for vacation, tuition, insurance, or whatever you'd like. This is a six month
savings plan with deductions taken from 13 pays. The money you save also earns
dividends. Sign up for a Planner's Club in December or June. Distributions are
made in January and July and are transferred into your Regular Share account.
There is a 10% penalty on any early withdrawal amount. If you make an early
withdrawal, payroll deduction will stop and the account will be closed. If you
already have a Planner’s Club there is no need to sign a card unless you
want to set up a new account, change the amount deducted, or stop deductions.
Make the holidays a pleasure instead of a financial burden. Sign up during the month of October. Funds are deducted for 26 pay periods. Money is then transferred to your Regular Share Savings account at maturity in early October. The money you save also earns dividends. There is a 10% penalty on any early withdrawal amount. If you make an early withdrawal, payroll deduction will stop and the account will be closed. If you already have a Christmas Club there is no need to sign a card unless you want to set up a new account, change the amount deduction, or stop deductions. To open your Savings Account, contact the Credit Union today! |
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