When you become a member of the credit
union a savings account is opened in your name. An initial
deposit of $5 is required. All members must maintain
a $5 balance in their savings account to remain a member,
and demonstrate regular activity in their account to
keep it open.
Other features of Regular Savings include:
- A competitive interest rate paid quarterly on the
average daily balance in your savings account. Click
here for current rate information.
- Withdrawals: Members may make up to twelve savings
withdrawals per year free of charge for accounts with
average daily balances over $100.01. After twelve
withdrawals in one year a $2 charge per excessive
withdrawal is applied.
- Quarterly statements by mail.
deduction: You may have deposits to your savings
account deducted directly from your paycheck.
If you have any other questions about regular savings
accounts at First Reliance FCU, contact
here for the savings calculator.