Prime Share Account Credit Union Account Features and Options

Prime Share Account Credit Union offers a range of account features and options to suit your needs.

You can open a Prime Share Account with a minimum deposit of $5, and enjoy a low monthly maintenance fee of just $3.

The account comes with a Visa debit card, allowing you to make purchases and withdraw cash at ATMs worldwide.

You can also access your account online or through the mobile app, making it easy to manage your finances on the go.

With Prime Share Account, you can set up direct deposit to receive your paychecks or government benefits directly into your account.

This eliminates the need for you to physically deposit a check or visit a branch, saving you time and effort.

Prime Share Account also offers a range of benefits, including free bill pay and free online banking.

To open a Prime Share Savings Account, you'll need to deposit just $1. This is all it takes to join the credit union and start building your savings.

The account requires a minimum balance of $1.00 to maintain membership, but don't worry, there are no monthly service charges. This means you can save without any extra fees eating into your hard-earned cash.

Here are some benefits you can look forward to with a Prime Share Savings Account:

To open a savings account with Topside FCU, you'll need to have a minimum balance of just $1.00. This low requirement makes it easy to establish your credit union membership.

One of the best things about this account is that it comes with no monthly service charge, so you won't have to worry about extra fees eating into your savings.

You'll also get free mobile and online banking, which makes it easy to manage your account on the go. And, with the Personal Financial Tool, you'll have access to valuable resources to help you make the most of your money.

You can access your account at any Topside FCU credit union office, as well as at Plus, AFFN, and The Exchange ATMs. This means you can withdraw cash or deposit funds whenever you need to.

Your account will come with free descriptive quarterly statements, which will help you keep track of your spending and savings. And, with 24-hour account access through Topper, our Member Services Bot, you can check your balance or make transactions at any time.

You'll also be able to make mobile deposits, which is super convenient for depositing checks or other funds on the go. And, as an added bonus, you'll earn quarterly dividends on your savings.

Here are some of the key features of our Prime Share Savings Account:

Opening a savings account is a straightforward process. You can start by depositing just $1, which is all it takes to join the financial family and open an account.

To get started, you'll need to deposit the initial $1 into your account. This is a low barrier to entry and makes it easy to begin saving.

Once you've deposited the initial amount, you can start setting up regular transfers to build your savings. You can also set up direct deposit to make it easy to save a portion of your paycheck.

The user-friendly app allows for quick transactions, making it easy to manage your account and stay on top of your finances.

The Prime Share account is a great way to start your financial journey with a credit union. It's often the first step to membership and offers a competitive dividend rate.

To open a Prime Share account, you typically need to make a minimum deposit, which varies by credit union. In some cases, it's as low as $1, while others require a $25 deposit.

Once you've opened your account, you'll have access to a range of benefits, including free mobile and online banking, free personal financial tools, and free 24-hour account access.

Some Prime Share accounts come with a minimum balance requirement, which can range from $1 to $25. If you don't meet this requirement, you may be charged a fee or lose some of the account's benefits.

Interest is usually calculated on the daily balance method and paid monthly at rates set by the credit union's board of directors. The annual percentage yield (APY) may change monthly, so it's essential to check the credit union's website or contact them directly for the most up-to-date information.

Here's a quick rundown of the minimum deposit requirements for some Prime Share accounts:

Your deposits with a credit union are federally insured up to at least $250,000 with the National Credit Union Share Insurance Fund. This provides an added layer of security and peace of mind for your savings.

In some cases, the credit union may place holds on checks or other deposits, which can affect the availability of funds. Be sure to review the credit union's funds availability policy for more information.

Overall, the Prime Share account is a great way to get started with a credit union and take advantage of their benefits and services.

Dividends are compounded and credited quarterly, which means you'll earn interest on your interest, but if you close your account before dividends are paid, you'll miss out on the accrued dividends.

The dividend periods follow a specific pattern of dates, with the beginning date of the first dividend period of the calendar year being January 1st and the ending date being March 31st. This pattern is consistent for all other dividend periods.

The dividend declaration date follows the ending date of a dividend period, so in this example, it's March 31st.

The dividend rate and annual percentage yield may change every dividend period, as determined by the Credit Union Board of Directors.

Compounding is a key concept in earning interest on your investments. Dividends are compounded and credited quarterly, which means you'll get to earn interest on your interest.

The dividend periods follow a specific pattern of dates, with the beginning date of the first dividend period of the calendar year being January 1st and the ending date being March 31st. This pattern is repeated for all subsequent dividend periods.

If you close your share account before dividends are paid, you won't receive the accrued dividends. This is because the dividend declaration date follows the ending date of a dividend period, which in this example is March 31st.

Variable Rate Information is something you should be aware of, especially if you're considering a savings account with a variable rate. The dividend rate and annual percentage yield may change every dividend period.

This means you might see an increase or decrease in your interest earnings over time. The Credit Union Board of Directors has the power to change the dividend rate for your account.

Keep in mind that this change can happen at any time, and you won't be given advance notice. It's essential to review your account terms and conditions regularly to stay informed about any changes to your variable rate.

You can make up to six withdrawals or transfers to another account or to a third party by means of a preauthorized or automatic transfer or telephonic order or instruction during any statement period.

Only three of those six transfers can be made by check, draft, debit card, if applicable, or similar order to a third party.

Exceeding the transfer limitations in any statement period can result in account closure by the credit union or a fee listed on the fee schedule.

You can establish your credit union membership with a minimum balance of just $1.00, as seen in the Prime Share Savings Account details.

To compare savings accounts across different institutions, you can use Truth in Savings legislation, which requires financial institutions to disclose account terms and conditions, including fees, minimum balance requirements, and APY.

Some key questions to ask when evaluating a savings account include: What is the minimum balance required to earn dividends/interest? Are tiered rates offered? When does your money start earning dividends or interest? How often is the interest compounded?

Here's a quick reference guide to help you compare savings accounts:

You want to make the most of your savings, but not all savings accounts are created equal. Some have hidden fees or requirements that can eat into your earnings.

To avoid surprises, look for accounts that clearly disclose their terms and conditions. Truth in Savings legislation requires financial institutions to share this information, so you can make informed decisions.

When shopping for a savings account, pay attention to the minimum balance required to earn dividends or interest. Some accounts may require a minimum balance of $1.00, as seen with the Prime Share Savings Account.

Tiered rates can also be a factor, where different balance amounts earn different interest rates. For example, balances up to $10,000 or less may earn 1.00%, while balances more than $10,000 may earn 1.25%.

Interest is usually compounded on a quarterly or monthly basis, but it's essential to check the account details to confirm. Some accounts may pay dividends on your ledger balance, while others may wait until a deposited share draft or check clears.

Be aware of any fees associated with low balances or account closures. Some accounts may charge a fee if your balance falls below a required minimum, while others may have a monthly maintenance fee.

Here's a quick rundown of some key questions to ask when evaluating a savings account:

To open a Prime Share Savings Account at Topside Federal Credit Union, you'll need a minimum balance of just $1.

This account is a basic membership requirement, making you eligible for all the benefits and services the credit union offers.

You can link your Prime Share Savings Account to your Topside checking account for convenient access to your funds for everyday spending and withdrawals.

The National Credit Union Administration (NCUA) federally insures your Prime Share Savings Account deposits for up to $250,000, giving you peace of mind.

Here are some key features of the Prime Share Savings Account:

To become a member of a credit union, you must complete payment of one share in your Prime Share Savings account. This is a requirement for admission to membership.

The balance in your Prime Share Savings account must be at least $5.00 to remain a member. If the balance falls below $5.00, you may be terminated from membership immediately.