Florida Rural Electric Credit Union

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Accounts

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Share/Savings Accounts

Your share/savings account establishes your membership. The account requires an initial deposit of $15.00 plus the current membership fee of $8.00. The initial $15 minimum balance must remain on deposit to maintain your membership. The account earns attractive dividends as declared by your elected Board of Directors. Dividends are calculated on the average daily balance method and paid quarterly.

Individual Retirement Accumulated Savings Accounts

This is a variable IRA savings account that allows recurring contributions.  The account requires a minimum opening deposit of $20.  The account earns attractive dividends as declared by the Board of Directors.  Dividends are calculated on the average daily balance method and paid quarterly.  At the accumulated $500 balance, this account has the option available to transfer to an IRA fixed-term certificate with no assessed penalty.

Christmas Club/Share Accounts

This is a special purpose savings account that enables you to plan ahead for a merry gift-giving season. There is no minimum balance or minimum deposit requirement. Dividends are earned based on the average daily balance method and paid quarterly. Funds in the account are automatically transferred to your shares/savings account on November 1.

Share Draft/Checking Accounts

This is a free account-no monthly service charge, no per check charges, and no minimum balance requirements. We offer a wide variety of competitively priced share draft/check styles, with one that is certain to meet your discriminating taste and/or life style.

Additionally, the account earns an attractive dividend rate based on the average daily balance and paid quarterly. Overdraft protection is offered through the share/savings account, line of credit loan or both for qualified applicants. Direct deposit and payroll deduction, if available from your employer, allow you to have your net paycheck or a portion thereof deposited into your credit union share draft/checking account.

Certificates of Deposit

Certificates of deposit are fixed rates with fixed terms ranging from six months to three years.  CDs held to maturity earn attractive dividends paid to the principal on a quarterly basis. CDs can be used to obtain very low interest rate loans.

Individual Retirement Account Certificates

IRA certificates are fixed rates with fixed terms ranging from six months to three years. Deposits earn very attractive dividends and are paid to the principal quarterly.