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Your Share (Savings) Account
Share (Savings) Accounts are the foundation of your LES People’s FCU membership.
They are called Share Accounts, as opposed to simply Savings Accounts, to signify each member’s ownership of the credit union. Your Share Account represents your share in the cooperative and is the key to becoming a member-owner.
The Share Account is the required account needed to open additional products such as:
Membership Benefits
- ✔️ Share Draft (Checking) Accounts
- ✔️ Share Certificates
- ✔️ Lending Products
- ✔️ Credit Cards
- ✔️ And more!
Your funds in the Share Account are federally insured through the National Credit Union Administration (NCUA), providing safety and security for your deposits.
Accounts for Every Age
LES People’s FCU has accounts for every age, including members under 18. Open an age-appropriate account and start building healthy financial habits early. All accounts are insured by the National Credit Union Administration (NCUA) up to $250,000.
Children Younger Than 14
A parent or adult must accompany the minor and bring:
- ✔️ Copy of the child’s Birth Certificate
- ✔️ Child’s Social Security Number or ITIN
- ✔️ Parent’s picture ID with current proof of address
Youngsters & Teens Ages 14 to Under 18
Members ages 14 to under 18 must provide:
- ✔️ Photo ID: State, Municipal or School ID, Passport
- ✔️ Social Security Number or ITIN
- ✔️ Proof of Address: School letter, notarized parent’s letter, pay stubs, bank statement, or clinic card
Your youth savings funds are federally insured through the National Credit Union Administration (NCUA) up to $250,000, providing safety and security for your savings.
Opening a Share Certificate
With a Share Certificate, members can lock in a higher interest rate by committing their money for a specific period of time. Share Certificates offer a fixed rate of return and are secured through the National Credit Union Administration (NCUA).
- ✔️ Minimum opening deposit of $500
- ✔️ Terms from 6 months to 3 years
- ✔️ Automatically renews at maturity
- ✔️ Seven-day grace period after maturity to withdraw funds or change the renewal term
Opening a Holiday Club Account
Save for holiday expenses while earning higher dividends with more flexibility than a Share Certificate. The Holiday Club Account is secured through the National Credit Union Administration (NCUA).
- ✔️ Minimum opening deposit of $15
- ✔️ Maximum balance eligible to earn dividends is $10,000
- ✔️ Dividends are paid annually on October 31
- ✔️ Funds become available November 1
- ✔️ Withdraw funds anytime without an early withdrawal penalty