Savings Accounts | Free Checking Accounts | Clubs | Certificates | IRAs | Money Market Accounts | Deposit Insurance
Savings Accounts at credit unions are called Share Accounts. In order to open an account with Sun East Federal Credit Union, you must deposit the equivalent of one share ($5). Your initial deposit is credited to your account and allows you to take advantage of all the services the Credit Union has to offer. This $5 initial deposit must remain in the account at all times.
A joint account is an account held by a member (primary) and another person who has been designated by the primary member to have equal access to the funds in the account. Each joint owner must sign the membership card. Withdrawal checks are made payable to the primary member (unless otherwise specified). In the event of the death of the primary member, the balance remaining in the Share Account will be disbursed to the joint owner.
Deposits to your Savings Account can be made in person at any Sun East office, by mail, through an ATM, ATM/Check Card or by automatic direct deposit/payroll deduction. If you are interested in direct deposit of your payroll, contact your payroll department or call Sun East.
Your Savings Account is always available to you for withdrawal purposes. Withdrawals are permitted either in person, by mail, phone, ATM, ATM/Check Card, Internet Home Banking, or by using "SUNNY" our 24-Hour Automated Teller System.
Dividends on Sun East Savings Accounts are computed on a daily basis, from day of deposit to day of withdrawal. The dividends are credited to member accounts quarterly. The way credit unions establish the rate of dividends is unlike that of any other type of financial institution. At the end of each quarter, the Board of Directors declares the dividend rate for that particular quarter. Therefore, the dividend rate declared is in effect from the first day of that quarter to the end of the quarter. Whenever the dividend rate changes, the new rate is posted in Sun East branches, on our website, as well as on member statements. Historically the dividend rates paid to our members are substantially higher than those paid by other financial institutions.
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