A Credit Union share account is like a regular savings account, but there are differences. It's called a share account because you are actually purchasing shares and becoming an owner when you deposit your money into a membership share account.
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- Paid Quarterly
- Tax Sheltered
- Member Privileges
At Buckeye Community Federal Credit Union, one share is worth $5.00. To maintain membership privileges, each member must own one share; that is, keep at least $5.00 on deposit. This is a Tax Sheltered account.
A share account earns dividends, which are a distribution of the net earnings of the Credit Union. Dividends are computed using the average daily balance method and are compounded and paid quarterly.