savings

We refer to savings type accounts as share accounts,
because a share represents your ownership in the
Credit Union. Health Systems Credit Union offers a
variety of accounts in order to meet your savings needs.
Funds on deposit at HSCU are federally insured up to
$100,000 by NCUA (National Credit Union Administration).

A share account is opened when
you join the Credit Union. A $50
deposit is required before using
any of our services. This $50
minimum balance is set by the
Board of Directors and must stay
on deposit the length of time you
are a Credit Union member. Over
the counter withdrawals and requests
for withdrawals by phone or mail
are limited to three per month without
a charge. Additional withdrawals within
a calendar month will be available for a
charge of $1.00 each.*

If you want to save larger sums of
money while still having the money
available when you need it, then our
Special Share account may be just
what you need. The minimum deposit
to open this account is $1,000. Dividends
will be earned daily and are paid and
compounded quarterly. Over the counter
withdrawals and requests for withdrawals
by phone or mail are limited to two per
month without a charge. Additional
withdrawals within a calendar month will be
available for a charge of $1.00 each.*

Don't be caught off guard when it is time to
pay your auto/homeowners insurance or property
taxes. Many members use the convenience of
having their funds electronically transferred out
of this account to pay for such items. Just think
of all those times you had to come up with a
large chunk of money for auto insurance.
Not any more!*

What a simple easy way to take the
stress out of the holiday season. Just
payroll deduct an amount each pay
period to deposit directly to your Christmas
Club Account. On the 1st business day of
October you're ready to shop with cash in
hand. You don't have to do anything, we will
automatically transfer the funds to your regular
checking account, or regular share account if
you do not have a checking account with HSCU.
The normal term of a Christmas Club account is
the 12 month period from October 1st through
September 30th (withdrawals throughout this
period are not permitted).*

Are you still dreaming of a Caribbean cruise
or maybe a family vacation to Disney World?
Turn your dream into reality by taking advantage
of payroll deduction. You'll be amazed at what
you can save. We help you by limiting your
access to the funds....only two withdrawals per
calendar year at your convenience.*

Get the most out of your money by opening a 6
or 12 month term certificate of deposit. Once
the term is up, you can either remove the funds
or allow the certificate to automatically renew for
an additional term. An early withdrawal will result
in a penalty equal to 90 days dividend. Dividends
will accrue daily and can be credited at maturity
or paid to your share or share draft account on the
1st business day of each month. Be on the lookout
for our "special" 18 month term certificate offered for
limited time periods throughout the year.

Below you will find the types of IRA accounts
available at HSCU:
Traditional IRA
Roth IRA
Coverdale IRA
Check with your tax advisor to see which product
best suits your needs. Ask a Credit Union staff
member for more detailed information at 865-689-6152.*

*For complete information on fees that may apply, refer to our fee disclosure listed under savings rates and service fees.