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Share Accounts

 

Glatco Credit Union offers several types of share savings accounts for different needs.  

 

Share Savings Account

 

Members are required to open and maintain a share savings account with an opening balance requirement of $20. Your dividends are credited and  compounded quarterly on your daily balance. All rates effective as of January 1, 2017

 

 

Annual Percentage Yield 0.20% APY
Dividends Compounded Quarterly
Dividends Credited Quarterly
Dividend Period Calendar Quarter
Minimum Opening Deposit $20.00
Minimum Balance to Avoid Service Charge N/A
Minimum Balance to earn the Stated APY N/A
Balance Method Daily Balance

 

Certificates of Deposit

 

A Certificate of Deposit is a great way to invest for the future.  Dividends are credited and compounded quarterly on your daily balance.  Rates are subject to change.  Check with the credit union for current rates.

 

Term Minimum Balance to open
and earn stated APY
Annual Percentage Yield (APY)
6 Months $2,500
0.30 %
12 Month $500
0.45 %
12 Month Special $10,000 0.45 %
24 Month $500 0.65%
36 Month $500 0.80 %

Christmas Club Accounts

A Christmas Club Account is a great way to save for holiday expenses.  You may open a Christmas Club at anytime during the year with no minimum balance requirement.  Make regular deposits to your Christmas club as a way to save for holiday expenses.  Your dividends are compounded and credited quarterly on your daily balance.  In October, after the final credit of dividends to your account, we'll distribute the account balance to either your Glatco CU Share or Share Draft account.  You also have the option to receive a check through the mail.  

 

 

Annual Percentage Yield 0.20% APY
Dividends Compounded Quarterly
Dividends Credited Quarterly
Dividend Period Calendar Quarter
Minimum Opening Deposit N/A
Minimum Balance to Avoid Service Charge N/A
Minimum Balance to earn the Stated APY N/A
Balance Method Daily Balance

 


Vacation Club Accounts

 

A Vacation Club Account is a great way to save for that trip of a lifetime.  You may open a Vacation Club at anytime during the year with no minimum balance requirement.  Make regular deposits to your Vacation Club throughout the year.  Your dividends are compounded and credited quarterly on your daily balance.  You tell us when you'd like to receive the funds and how much you'd like to receive and we'll distribute that amount to your Glatco CU Share or Share Draft account or mail you a check directly to you.  

 

 

Annual Percentage Yield 0.20% APY
Dividends Compounded  Quarterly
Dividends Credited Quarterly
Dividend Period Calendar Quarter
Minimum Opening Deposit N/A
Minimum Balance to Avoid Service Charge N/A
Minimum Balance to earn the Stated APY N/A
Balance Method Daily Balance

 

 

IRA Accounts

We offer Individual Retirement Accounts (IRAs) that can provide you with a comfortable nest egg when you retire.  Rules for deposits and withdrawals are subject to federal regulations.  There is no minimum balance to open this type of account, and automatic deposits are available.  Your dividends are compounded and credited quarterly on your daily balance.  

 

 

 

Annual Percentage Yield

0.853% APY

Dividends Compounded

Quarterly

Dividends Credited

Quarterly

Dividend Period

Calendar Quarter

Minimum Opening Deposit

$25.00

Minimum Balance to Avoid Service Charge

N/A

Minimum Balance to earn the Stated APY

$25.00

Balance Method

Daily Balance


 

Additional Truth-In-Savings Disclosure Information

 

Share Accounts

 

The dividend rate and annual percentage yield for Share Accounts, Club Accounts, and IRA Accounts may change at any time, as determined by the credit union board of directors.  

 

Dividends will be compounded and credited to your account every calendar quarter.  Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.  Dividends will begin to accrue on the business day you place non-cash items (for example, checks) to your account.

 

For a complete disclosure of all terms and conditions associated with a deposit account, please request a copy of "Important Account Information for Our Members".


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