Savings & Deposits

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SAVINGS:

Whether you are new to the Savings Game, or an Established Saver,
Paul Quinn FCU has the account you are looking for.

Share Savings Account

Paul Quinn FCU offers a variable annual percentage yield (APY) savings account that provides greater dividends as your savings increase. A minimum of $5 is required to open a Share Savings account and a $1 joining fee. Minimum share balances to earn dividends may apply. Dividends are paid annually. Statements are mailed or can be picked up.

Payroll deduction can be established to automatically deposit funds to Any of your savings account each pay period.

 

Holiday Accounts

Are the perfect way to save for the holidays. This Savers Club is a term share account that opens annually in November and matures in October. To open this account you must have an established share account. Open this saving account with any amount. Dividends are paid annually.

New Holiday Clubs starts the 1st Sunday of November

Payroll deduction can be established to automatically deposit funds to Any of your savings account each pay period.


VACATION SAVERS CLUB

Need A Vacation!! Who Doesn’t!!
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The perfect way to save for a Vacation, a special purchase, or the holidays. The Savers Club is a term share account that lets you choose your own maturity date on accounts other than Holiday account. Dividends are paid annually, on balances of $10 or more.

Payroll deduction can be established to automatically deposit funds to Any of your savings account each pay period.


Young Savers


Paul Quinn FCU designed the Young Savers Account especially for children to start saving money early and to learn money management skills. This account earns dividends on a minimum balance of $5. Dividends are paid annually. Statements can be mailed to the account holder. Once the account holder reaches the age of 18, the funds are automatically transferred to a regular savings account.

Dividends Paid on Balances of $5 and over - Let's Encourage our young people to Save



DEPOSITS:

 

Deposits
Deposits may either be made in cash or check at the Credit Union Office. Personal check or money order will be accepted through the mail. Payroll deduction of Direct Deposit, also known as ACH is available. The maximum savings in any one account may not exceed $250,000. All savings are insured by the National Credit Union Administration (NCUA).

 

Dividend Of Shares
Our profits are derived from interest on loans to members, government bonds, investments, etc. The Board of Directors sets dividends. Dividends are paid annually.  No dividend is paid on accounts with balances under $10. The dividend will be posted to accounts on the last day of the year December 31st and appears on the year end statement. Report Form, 1099 is prepared for accounts earning over $10 in dividends. These forms are mailed to each member and a copy sent to the Internal Revenue Service.

 

Withdrawals
Can be made during normal business hours, contact CU in cases of emergency withdrawals

 

Holiday Club
New Club Accounts start November 1st each year; members may join at any point in the year. Interest is paid only once a year.   No withdrawals are allowed. Interest rate is determined during the third quarter each year.