Savings & Share Accounts
DEXSTA has a wide variety of savings account options available:
- Share Savings
- Share Drafts
- Holiday Club
- Money Market
- Rate Information and Nature of Dividends
- Compounding and Crediting
- Accrual of Dividends
- Minimum Balance
- Daily Balance Computation Method
- Certificate Information
The rates and conditions below are applicable to all of our accounts at the Credit Union and are accurate as of the effective date. The Credit Union reserves the right to amend this schedule. Each applicant agrees to these terms at the time he or she becomes a member. Potential members or members may receive disclosure forms at any time upon request.
Share Savings
If you’re familiar with savings accounts at banks, you already understand the basics of a share savings account. The terminology is different because the account is held at a credit union, but the way you’ll use the account is the same.
A share savings account is an account at a credit union that pays interest on your savings, providing you with secure place to store your funds. Opening a share account establishes your membership in the credit union and makes you eligible to use other products like loans, checking accounts, and more.
Share Drafts
A share draft account is a liquid account at a credit union that allows you to make frequent payments and withdrawals. Share draft accounts are essentially the same as checking accounts at banks. Again, the only difference is that a “share” account is at a credit union instead of a bank.
Holiday Club
For this account, the entire balance will be transferred to your share account on the First Banking Day in October, and the account will remain open. If you withdraw any of the account balance at any time, we will close your Holiday Club account and pay you the full balance. You may make transfers or withdrawals in the first seven days after the account is opened without restriction.
Money Market
This is not intended to be a transaction account. You may make only three withdrawals of any kind from your money market account during any month. The penalty indicated on the fee schedule will be charged for any withdrawals beyond three. Share drafts will count as a withdrawal during the month they clear the account. All Shares excluding Share Drafts are limited to six total transactions per month by any combination of: Overdraft transfers, ACH Debits, ATM / POS withdrawals, checks, and transfers to other shares by home banking, phone, or mobile apps.
Rate Information and Nature of Dividends
Rates are subject to change as determined by the Board of Directors. Dividends are paid from available earnings. The Credit Union anticipates paying the dividend rates on the table above. The APY (annual percentage yield) is a projected rate that takes into consideration the effect monthly compounding has on the dividend rate.
Compounding and Crediting
All Dividends on the accounts listed above will be compounded monthly. The dividend period will be the first of each month to the last day of each month. Dividends are calculated on the last day of each month and will be credited to your account on the last day of the month.
Accrual of Dividends
Dividends begin to accrue on the day we receive your deposit. If you close an account, dividends will be paid as of that date.
Minimum Balance
DEXSTA FCU imposes no minimum balance requirements. The Money Market account has a $5,000 minimum balance requirement to earn dividends. $5 is always required in the share account as a condition of membership.
Daily Balance Computation Method
DEXSTA FCU imposes no minimum balance requirements. The Money Market account has a $5,000 minimum balance requirement to earn dividends. $5 is always required in the share account as a condition of membership.
Certificate Information
Additional Deposits: IRA and ESA certificates allow additional deposits such as contributions, rollovers, and transfers throughout the certificate term.
Maturity Notices: Your certificate will renew automatically; you will receive a maturity notice at least 10 days before it matures. Upon maturity, if we do not hear from you, your certificate balance will renew at the current interest rate posted on the Rate and Fee Schedule.
Non-transferable/Non-negotiable: Your account is non-transferable and non-negotiable. The funds in your account may not be pledged to secure any obligation of an owner, except obligations with DEXSTA.
Credit Union Deals:
