Share Savings Accounts

The Start of Membership

The first step to becoming a member in Freedom Community Credit Union is to open a share account. The share account (with this account, you gain a share in the Credit Union) is similar to a savings account at a bank. The share account provides the following with some basic rules:

  1. 1 Membership. It entitles the member to all the services (within Credit Union guidelines) of the Credit Union found on the Services/Clubs page. Membership includes a voting voice in the selection of Credit Union officers and committee members, an invitation to our annual meeting, and the opportunity to become a volunteer to serve on the committees.
  2. 2 $25 minimum balance. Share accounts require the member to maintain at least a $25 minimum balance, which is collected when the account is opened. This $25 isn't a fee and remains in your account; should you close your account, the $25 will be returned to you. Joint Accounts.
  3. 3 Multiple Accounts. Each member can maintain several share accounts; often these accounts can be for vacation savings, children's savings (see the special programs available for children's accounts), and whatever you might feel a need to save for. Joint accounts with a spouse are perfectly OK.
  4. 4 Dividends. Each share account is paid a dividend (as a shareholder, you get paid a dividend), which is the equivalent to interest paid at a bank.

Super Share Savings

A nice way to reward yourself for your good savings habits is through a Super Share Savings account. This form of savings account gives you extra interest income without the restrictions found in Certificates of Deposits (CDs). Here's how it works:

A separate super share account is created with a deposit of $2,500+. This account then draws a premium interest rate based on rates in effect at the time. While it doesn't pay at the levels of a CD, the money is available to you at any time (withdrawals are limited to six per month); as long as you maintain at least $2,500 in the account, the super share account will remain active. There is no time limit or renewal requirements for the account and an account statement is sent to you every quarter. Should you find you need to draw the account down below the $2,500 level, the remaining balance will be transferred to your regular share account and interest will accrue there at regular rates.

Starting a super share savings account is as simple as calling or visiting your Credit Union; it can be set up over-the-phone. One phone call can earn you a few extra bucks!

Pee Wee Penguin Young Savers' Club

Pee Wee Penguin™

Pee Wee Penguin is at your credit union! Pee Wee Penguin and his Young Savers' Club are here to help make saving money at the credit union lots of fun. By joining the Pee Wee Penguin Young Savers' Club, young members will receive the following items:

  1. 1 Membership Card (to use as identification)
  2. 2 Passbook (to keep track of their savings)
  3. 3 Coin Saver (to help save their quarters)
  4. 4 Birthday Card (sent automatically)

There is no cost involved in joining the Pee Wee Penguin Young Savers' Club. Just stop in at the credit union and sign up. Talk to your friends and let them know that Pee Wee is at your credit union. Chances are they will want to be a part of Pee Wee's club, too!

Today's Rates*:

*subject to change 

Conv. Conforming 30YR Fixed
rate points
6.375 0.000
6.250 0.625
6.125 1.125
Conv. Conforming 15YR Fixed
rate points
6.000 0.000
5.875 0.375
5.750 0.750
5.625 1.125
VA 30YR Fixed
rate points
6.375 -0.125
6.250 0.500
6.125 1.375
6.000 2.375
2nd Mortgages
7.00% - 10 year fixed with low closing costs
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Auto Loans
type rate
New/Used As low as 6.75%
Auto Financing Options
type rate
2007 100% retail for 72 mo.
2005-06 100% retail for 60 mo.
2004 & older 85% retail for 48 mo.
Signature Loans
as low as 9.50%
Tiered Share Rates
amount rate apy
$0-2,499.99 0.50%
$2,500-9,999.99 1.00%
$10,000+ 1.00%
Share Certificate Rates
amount rate apy
$5000-9,999.99 4.75%
$10,000-49,999.99 5.00%
$50,000+ 5.25%
6 month rates .50% lower
Others
type rate apy
Pee-Wee Shares 3.53%
Super Shares 3.82%
IRA 3.82%
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