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Savings Accounts

Howard University Employees Federal Credit Union offers two types of savings accounts—regular shares and holiday club shares.

Share Savings Account

Member savings are called Share accounts. The minimum deposit is $50, which is equal to one share. There is a $1.00 one time processing fee. All members must establish a share account when they join. These accounts earn dividends using the Average Daily Balance method. Dividends are paid on the first day of each quarter (January, April, July and October) and are compounded quarterly. Dividends are not guaranteed and are based on the income and expenses of the credit union on the last day of each quarter.

Club Accounts

Saving for the holidays is easy with a Credit Union Club Account!
   • $5 minimum balance
   • Holiday checks are disbursed the first week in November
   • No withdrawals are permitted unless the account is being closed
   • Payroll deduction available

Accounts are insured to $250,000 per member by the National Credit Union Administration, an Agency of the U.S. Government

To open your Savings Account, contact the Credit Union today!