| When you
become a
member
of the credit union a savings account is opened in your name. An initial
deposit of $25 is required. All members must maintain a $25 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:
To withdraw money from your savings account, simply stop by a
credit union branch or go to an ATM terminal. Members may make
up to five savings withdrawals per quarter free of charge. After
five withdrawals in one quarter a $2 charge per excessive withdrawal
is applied.
- Quarterly statements
by mail or estatements.
- Payroll
deduction: You may have deposits to your savings account deducted
directly from your paycheck.
- Youth Club: Children 0-12, $10 minimum deposit.
- Teen Club: Children 13-17, $15 minimum deposit.
Once You have
opened a savings account, you can also open an auxiliary savings
account. Auxiliary savings accounts are very similar to regular
savings accounts. The only difference is there is no minimum amount
required to open the account.
If you have any other
questions about regular savings accounts or auxiliary savings accounts
at Valdosta Teachers' FCU, contact
us.
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