Defense Electronics Federal Credit Union

Member Owned, Member Operated

SAVINGS PROGRAMS

Regular Shares
Regular shares is a standard savings account. A minimum balance of $25.00 must be maintained to remain a member and utilize the credit union services. Dividends are posted quarterly based on the average daily balance. A member may have multiple share accounts.

Christmas Clubs
A Christmas club is a great way to set money aside every pay for holiday shopping. Christmas clubs begin every October and are paid out the following October. Dividends are posted quarterly based on the average daily balance. These funds cannot be drawn on during the year. The funds are automatically transferred into your checking or savings account at maturity

Vacation Clubs
A Vacation club is a great way to set money aside every pay for holiday shopping. Vacation clubs begin every April and are paid out the following April. Dividends are posted quarterly based on the average daily balance. These funds cannot be drawn on during the year. The funds are automatically transferred into your checking or savings account at maturity.

IRA Accumulation
Individual Retirement Accounts are standard IRA accumulations. It is up to the member to monitor for tax purposes and withdraw minimum distributions as required. Dividends are posted quarterly based on the average daily balance.

Certificates of Deposit
Certificates of Deposit are time savings account set for a specific period of time. They may be set up as standard Certificates or IRA Certificates depending on your need. The interest rate varies in correlation with the term. Certificates that are redeemed prior to their maturity will be imposed penalties. Members most monitor their IRA Certificates for specific tax purposes and minimum distributions. Dividends are posted monthly based on the average daily balance.

Premium Share Account
This product is similar to a money market account. You receive a higher return on your balances. The minimum balance is $5000.00. You are limited to (3) withdrawals monthly of at least $500.00 each. Checks are required for all transactions. If your balance falls below the $5000.00 you will receive the regular Share Draft Rate. Dividends are posted quarterly based on the average daily balance.