Savings – Checking & Savings – Telcom Credit Union

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Savings

Regular Savings
A regular share savings account is required for all members of Telcom Credit Union. Once this regular savings account is established, a member may apply for any of our services. Our share savings account features:

	Interest calculated daily, paid monthly
	Dividend rate set by Board of Directors monthly
	Easy access at any Telcom Credit Union branch, Michigan Family Service Centers, ATMs, Telephone Banking System or Online Banking
	Low $5 minimum balance requirement (see Fee Schedule)
	Detailed statements of account activity: monthly if member has any type of electronic fund transfers (EFT), automatic withdrawals, online bill paying service, ATM -- quarterly for all others.
	Safety – accounts insured by the NCUA, an agency of the federal government, up to $250,000.

Christmas Club
Telcom’s Christmas Club accounts allow for members to save for the holidays, by direct deposit, monthly automatic transfer, or by depositing on their own, and features:

	Deposits can be made at any time
	Automatic monthly transfers can be made to this account from regular savings
	Earns daily interest - the same rate as the regular savings - paid monthly
	Funds accumulate all year, and in November they are transferred to a member's checking or savings account
	Safety – Christmas Club accounts are included in your NCUA $250,000 coverage.

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