SHARE SAVINGS ACCOUNTS. Share Savings accounts include all savings accounts offered at the Credit Union. We will send You a statement at least quarterly for these accounts. To withdraw from Your share savings accounts, You must show us proper identification. We may, as necessary, transfer funds from Your Member Savings account to Your checking account to pay checks, debits and other items payable from Your account. See the Schedule of Charges for explanation of related charges.
SHARE SAVINGS ACCOUNTS. Deposits. After you have established your Membership Share Savings Account, you may make additional deposits into that account, or establish additional share savings accounts and other types of accounts as described below, at any time and in any amount. We may establish minimum amounts for deposits in your Share Savings Accounts or other accounts. Your Membership Share Savings Account and your other share savings accounts will be referred to singularly in this Agreement as “Share Savings Account” and collectively as “Share Savings Accounts,” as applicable. Additional Share Savings Accounts can be established by completing an Application to Add Additional Share Savings Account. You can make deposits in person or by mail. You can also arrange to have deposits made directly to Share Savings Account(s) by participating payers. If you have an automated teller machine (ATM) card, you may also make a deposit through automated teller machines equipped to accept deposits. If you have applied for and been given access to our Telephone Banking service or our Home Banking service, you can also transfer funds from one account to another. Deposits may also be made at a night depository at those Credit Union locations that have a night depository. Funds deposited to a night depository are considered deposited on the day on which the deposit is removed from such facility and is available for processing. The Credit Union is not responsible for deposits placed in the night depository until the depository is opened, and deposits are subject to count and verification by the Credit Union.
SHARE SAVINGS ACCOUNTS. Deposits. After you have established your Membership Share Savings Account, you may make additional deposits into that account, or establish additional share savings accounts and other types of accounts as described below, at any time and in any amount. We may establish minimum amounts for deposits in your Share Savings Accounts or other accounts. Your Membership Share Savings Account and your other share savings accounts will be referred to singularly in this Agreement as “Share Savings Account” and collectively as “Share Savings Accounts,” as applicable. Additional Share Savings Accounts can be established completing an Application to Add Additional Share Savings Account. You can make deposits in person or by mail. At the present time, you can arrange to have one or more of the following deposits made directly by the payer to your Share Savings Accounts: (1) payroll deduction deposits, (2) net pay deposits, (3) Social Security deposits, (4) pension plan deposits, (5) stock dividends or (6) other miscellaneous deposits. If you have an automatic teller machine (ATM) card, you can also make a deposit through automated teller machines equipped to accept deposits. If you have applied for and been given access to our Telephone Banking service or our Home Banking service, you can also transfer funds from one account to another, provided you are an owner on every account involved in the transfer.
SHARE SAVINGS ACCOUNTS. As previously stated, to establish Membership an initial deposit of $5 must be placed and maintained in a Share Savings account, your Primary Regular Share ID 01. Additional Share Savings accounts may be established with a minimum balance of $5. Unlimited deposits and withdrawals are allowed on your Share Savings. This is a variable rate account. Rates are subject to change daily, at our discretion. For federal reporting purposes, Share Savings accounts are reported as transaction accounts and consist of a transaction sub- account and a savings sub-account. Funds not routinely needed to pay debits may be transferred to a savings sub-account. We may periodically transfer funds between these two sub-accounts. Your dividend calculation will remain the same. The transaction sub- account will be governed by the rules governing our Share Draft Checking accounts outlined in this Account Agreement. This process will not affect your available balance, the dividends you may earn, NCUA share insurance coverage, your periodic statement, or any other features of this account.
