A savings account is required to establish ILWU Credit Union membership. It's our primary account, and is a basic interest bearing savings account that pays a competitive dividend rate. And your funds are federally insured by the NCUA (National Credit Union Administration).
- NO monthly service fee or early withdrawal penalty
- NO minimum balance to earn dividends
- Tiered interest rates based on balance
- 6 FREE withdrawals per month
- Dividends accrue daily and are paid quarterly
- Funds can be directly deposited into your account
- Funds are federally insured up to $250,000 by the NCUA
UNDERSTANDING REGULATION D AND THE IMPACT ON YOUR SAVINGS ACCOUNT
All financial institutions must implement Regulation D. The Federal Reserve Bank’s Regulation D limits certain withdrawals and transfers from your savings and money market share accounts to a total of six (6) per account per calendar month. The six withdrawals exclude items such as automatic transfers to loan payments, ATM withdrawals and withdrawals made in person at the teller window. Click here for more detailed information on Regulation D.
All Deposits are insured up to $250,000 by the National Credit Union Administration (NCUA).