Membership Share Savings Account

Membership Share Savings Account
A Membership Share account is a savings account requiring $5 (*minimum balance) for an individual membership (or $10 minimum for a dual membership). This minimum balance purchases you one share in the credit union, which is required for membership and makes you a part-owner of the credit union. In addition, there is a one-time membership fee of $5 per individual. (Total cost to join SELCO Community Credit Union is $10 for an individual or $20 for a joint account).

• Balances above $500 earn daily dividends
• $100 minimum balance (to avoid service fees)
• No penalty on withdrawals
• Your share makes you part owner of SELCO and gives you voting rights. All SELCO members have a say in how their credit union is run.
• All savings accounts insured up to $100,000 per member account by the National Credit Union Share Insurance Fund.

Dual Membership Share Savings Account
This account qualifies two members for credit union privileges and requires $10 (*minimum balance) to purchase two shares of the credit union, one for each signer on the account and a $5 membership fee for each owner of the dual account. Both account holders are members in their own right. (Total cost to join SELCO Community Credit Union for two individuals is $20).

*The $5 minimum balance or share is refunded when your account is closed.