Stories Matter
Savings Accounts
Savings Accounts We Offer
- Regular Savings (Share Accounts): Pays dividends on the daily balance, compounded quarterly.
- Special Savings (Sub-Share Accounts): Additional savings accounts for specific purposes, like vacations or taxes.
- Christmas Club Savings: Save all year for holiday expenses, with funds distributed on November 1st.
- Round Up Savings: Automatically round up debit card purchases to the nearest dollar, with the difference transferred to your savings account.
Additional Services
- Overdraft Protection: Link your savings with a checking account.
- Rates: Check out our Savings Rates Page.
ONE SHARE = ONE MEMBER = ONE VOTE
Every member has a savings account called the “Share Account.” The minimum deposit in your Share Account established membership in the credit union.
- Minimum Deposit:
- $50.00 for members over 18 years old.
- $5.00 for members under 18 years old.
- Establish Membership: Your initial deposit establishes your membership and ownership share in the credit union.
- Cancel Membership: Withdraw your minimum deposit and close your accounts (unpaid debts may offset this deposit).
This is how your savings help others
When you deposit money into a savings account at Media Credit Union, you’re not just saving for yourself; you’re also supporting fellow members. Here’s how it works:
- Loans for Members: Your savings are used to provide loans for other members, whether it’s for buying a car, purchasing a home, or starting a business.
- Earning Interest: The interest borrowers pay on these loans helps fund the interest on your savings and covers the credit union’s operating costs.
Share accounts vs savings accounts
Members hold a financial stake in the credit union and your savings account represents your share. That’s why we call your savings account a “share account” (or sometimes a share savings account).
The Share Account also offers the features of other savings accounts allowing you to deposit money, earn interest, and save for future expenses.
ONE SHARE = ONE MEMBER = ONE VOTE
Why choose media credit union?
Member Owned: As a not-for-profit organization, any extra money made is returned to members through better rates on loans and savings, lower fees, or additional services.
Community Focused: We focus on serving the financial needs of our local communities, which benefits the community we live in. Members help each other financially, creating a supportive and collaborative environment.