IBEW Local 56 Federal Credit Union was chartered in 1961 - Once A Member ... Always A Member

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Share Accounts

Regular Shares

  • A normal savings account which is your share of ownership in this Credit Union
  • Deposits and withdrawals can be made at any time unless the shares are pledged as collateral on a loan
  • Dividends are calculated daily and paid quarterly

Holiday Shares

  • Can be used as an extra savings account - as an escrow account to plan ahead for car insurance, property taxes, or tuition
  • Deposits and withdrawals can be made at any time
  • Dividends are calculated daily and paid quarterly

Vacation Shares and Investment Shares

  • Can be used as a separate savings account
  • Deposits and withdrawals can be made at any time
  • Dividends are calculated daily and paid quarterly

Christmas Shares

  • A way to plan for your Christmas gift-giving
  • You can start the account at any time during the year
  • Deposits can be made for any amount, at any time
  • Dividends are calculated daily and paid quarterly
  • Checks are sent out the first week of October unless you request a hold or a transfer to another type of account
  • You are permitted 1 emergency withdrawal per year prior to the October withdrawal
  • A $2.00 fee is charged for any other withdrawals

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