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