Regular Shares AccountsThe minimum deposit to open an account at the Credit Union is $25 plus a $3 New Member fee. The $25 is yours but must remain on deposit as long as the account is open. This account is available to all age groups. Dividends are compounded quarterly and are available for withdrawal on the 1st of January, April, July and October.
Freedom Checking accounts at Freedom 1st FCU have no monthly service charge, no per check fee, and no minimum balance required. Printed checks vary in price depending on the style ordered.
Emerald Checking Accounts(Available only to members age 55 or older) Emerald Checking Accounts at Freedom 1st FCU have no monthly service charge, unlimited check writing, a $5.00 discount on safe deposit boxes and no minimum balance required.
Youth Savings AccountsYouth Savings Accounts are for members age 17 and under. The minimum deposit to open an account is $10. The $10 is yours but must remain on deposit as long as the account is open. This account is designed to teach kids financial responsibility at a young age. The credit union will offer rewards for saving money throughout the program and move them toward the education sessions as they become older. Bring your child's social security number with you when opening the account. The credit union requires an adult to be joint on the account. Dividends are compounded quarterly and are available for withdrawal on the 1st of January, April, July and October.
Christmas Club AccountEnjoy the holidays more this season by opening a Christmas Club Account. Then when the holidays get here you can go shopping without having to worry about how you are going to pay for it. The amount you save is your decision. The more you save, the easier the holidays will be! No withdrawals are allowed from this account. You may close your account at anytime without penalty, however a closed account cannot be reopened until after October 1st. This account has a maturity period of October 1st each year. It can be opened any time during the year with a $5 minimum deposit. There is no minimum amount or pre-determined frequency of deposit required. The funds will automatically be transferred into Regular Shares upon maturity. Dividends are compounded quarterly and are credited on the last day of March, June, September and December. Your account continues every year unless you decide to close it.
Money Market Share Account
The Money Market Share Account is an ideal account for members who want a convenient pass through type account that compounds more often than quarterly.
A minimum deposit of $1000 is required to open a Money Market Account. With a $500 minimum balance, Money Market funds earn dividend credit the day they are deposited. Dividends are compounded and paid monthly, based on the average daily balance. Dividends are available for withdrawal the 1st of the following month. There is no penalty for withdrawal of funds. Dividend rates are declared by the Board of Directors at the end of each dividend period. Dividends are based on Credit Union earnings at the end of a dividend period and thus cannot be guaranteed.
Share certificates have various maturity periods and minimum balances to choose from. Dividends are compounded quarterly. Dividends may be withdrawn on the 1st of January, April, July and October. Three month share certificates compound at maturity only. Penalties for early withdrawal apply and depend upon the terms of the share certificate.
The rates are competitive with financial institutions in the local area. Please check with the Credit Union for current rates.
The minimum opening balance is $1,000 for a 3 month or 6 month certificate. The minimum balance to open all other certificates (1 year, 2 year, and 2 1/2 year) is $500.