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- Base Share Savings
- Money Market Accounts
- IRA Money Market Accounts
- Subshare Savings Account
- Special Purpose Club Account
Base Share Savings
Here's your basic share savings account. Dividends are paid quarterly
on funds deposited into this account and the only minimum balance required
is the $5 membership deposit. By maintaining this minimum balance at all
times in this account, you have access to the many products and services
offered by Educational Systems Federal Credit Union.
Keep in mind that once a member, always a member, even should you leave your place of employment. Membership is based on your employer or family relationship at the time of credit union enrollment and maintaining the required Base Share minimum balance.
Money Market Accounts
Earn higher dividends and enjoy the flexibility of being able to withdraw
funds up to 3 times a month without a penalty. Educational Systems FCU's
Money Market Accounts are tiered with three minimum balance options of $2,500
and $20,000 and $100,000. Be sure to check out our competitive dividend
rates.
IRA Money Market Accounts
This account is very similar to our regular Money Market Account but tiered
with two minimum balance options of $2,500 and $20,000, and $100,000.
Be sure to check out our competitive dividend rates.
Under current tax regulations, you may not have to pay taxes on these investment accounts until you retire and/or begin withdrawals. Like other IRA investments, with an Educational Systems FCU IRA Money Market Account, you cannot make withdrawals without penalties until you retire. Always check with your tax advisor regarding your personal situation.
Subshare Savings Account
This is any separate share account where funds are deposited in your name
and under your single account number. Your Sub-share Account will be assigned
a specific suffix number. You must make an initial deposit of $5.00 or
more to open this type of account. Dividends are paid on increments of
$5.00 and compounded quarterly.
Special Purpose Club
Account
Planning for a special occasion? Or, is it the need for a little discipline
in your savings habits? This account is perfect for saving for the holiday
gift giving season, vacations, income tax payments, or school tuition.
You select the month that you would like the funds to roll to an accessible
account. Make regular deposits by direct deposit or payroll deduction
and watch your savings grow.
Educational Systems FCU's Special Purpose Club Accounts can be opened with an initial deposit of $5.00 or more. Dividends are paid on increments of $5.00 and compounded quarterly.
Taking care of tomorrow can be as easy as opening an Individual Retirement Account today. Educational Systems FCU offers a variety of Individual Retirement Account investment options, including Traditional, Roth and Educational IRAs.
IRA investment options can be purchased in either Certificate or Share Account form. They are available at the same dividend rates and terms as our Share Certificate Accounts and require a minimum deposit of $500 to open.
Under current tax regulations, you may not have to pay taxes on these investment accounts until you retire and/or begin withdrawals. Always check with your tax advisor regarding your personal situation.
Educational Systems FCU offers Share Certificate Accounts with varying terms and attractive dividend rates. Available terms range from 3 to 60 months with a $500 minimum balance requirement for all certificate types. Certificates purchased greater than the required minimum must be in increments of $100.00. Click on dividend rates to see a full listing of our certificates and terms available.
When it comes to checking…Educational Systems FCU has about the best deal in town.
We offer…
NO minimum balance requirement
NO monthly service fees
NO per check fees
NO restrictions on the number of checks you write
FREE overdraft protection from your Base Share Savings Account
(Note: Accessible funds must be available above the required $5.00 minimum
balance in that account.)
Audio Response Teller
All you need is a touch tone-phone and your Personal Identification Number
(PIN). ART is a free 7-days-a-week, 24 hours-a-day service to give you
access to your account information, transfer of funds, check clearing
confirmations and more.
With a local and toll free number, your account is always at your fingertips. Call one of our main numbers: 800-356-6660 and then press 1 for the Audio Response Teller Service.
Contact us to add this important Educational Systems FCU service.
Visa
Check Card
It's the EASY, convenient and safer way to pay! Use it for anything that
you would have paid cash for…such as gas, groceries, dining, entertainment,
mail order shopping and more. Educational Systems FCU's Visa Check Card
looks like a credit card, is honored like a VISA Credit Card…but the funds
come from your personal CHECKING ACCOUNT. Our check card is accepted worldwide,
even places where personal checks are not.
ATM's
You have unlimited use of the ATMs located at any of Educational Systems
FCU's branch offices without a charge to your account. We have offices
located in Greenbelt, Bowie, Upper Marlboro, Waldorf, Prince Frederick and
California, MD. Each of these ATMs can be accessed 7 days a week, 24 hours
a day. Entry to locked outer lobbies is accomplished by inserting your
ATM Card in the designated slot by the entry door.
All other ATM machines, worldwide, may be used for withdrawals or inquiries up to FIVE times per month without an Educational Systems FCU charge. Be sure to see your ATM disclosure for details. Keep in mind that Educational Systems FCU has no control over surcharge fees that may be imposed by foreign ATM owners.
Contact us to add this important Educational Systems FCU service.
Your savings are insured up to at least $500,000. The first $250,000 per member is federally insured by the National Credit Union Administration (NCUA), and backed by the full faith and credit of the United States Government. An additional $250,000 of coverage is provided by Excess Share Insurance (ESI), a private corporation.
Traditional and Roth IRAs are insured up to $250,000 by NCUA, and by an additional $250,000 through ESI, all at no cost to you.
Effective June 18, 2010
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* APY = Annual Percentage Yield
All rates are subject to change without prior notice. A penalty may be charged for Share Certificate early withdrawal. Jumbo Certificates are also available. Please call 800-356-6660 for details. Rates, terms and disclosures also apply to IRA certificates and individual retirement accounts.
Jumbo Share Certificates also available with a minimum deposit of $100,000.00.
