Share Savings Account
In credit union terms, a savings account is referred to as a “share account.” By depositing just $5 into a Share Savings Account, you become a member-owner of Gas & Electric Employees Credit Union. This grants you access to all the products and services GEECU offers. Not only will you earn dividends on your savings, but your deposit also helps provide loans to other Credit Union members, thereby supporting the cooperative community. This cycle of saving and lending benefits everyone involved!
With your savings account:
- dividends are paid on balances of $25 and over.
- dividends are calculated on the daily balance and paid quarterly.
- deposit and withdrawal without penalty.
- deposits may be made in person, by mail, or ach.
Term Share Certificates (CD’s)
Share Certificates are similar to Certificates of Deposit (CDs) offered by credit unions. The funds in these accounts are deposited with GEECU for a fixed term, providing savers with an opportunity to earn a higher return on their savings.
Your deposits are federally insured for up to at least $250,000 by the National Credit Union Administration (NCUA).