Share Account

A savings account that represents ownership of a specific amount of money deposited with the credit union and establishes membership in the credit union.

More Details

A share account at a credit union is a type of savings account that represents ownership of a specific amount of money deposited with the credit union. These deposits earn interest and establish membership in the credit union, giving the member the right to vote on credit union business and to participate in credit union decision-making.

Example

Credit union membership is established by opening a share account, which is a type of savings account that represents your ownership stake in the credit union and earns interest on your deposits. Share accounts are federally insured (up to the maximum insurance limit) and can be used to save money for a specific goal or as a regular savings account.

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