Types

Regular Share Account

  • Members are required to purchase at least one share of capital stock at a cost of $5.00 which is to be deposited in the member’s regular share account.  By purchasing this one share of capital stock you become a voting owner of ACT 1st FCU.
  • Dividends will be paid at a rate approved by the Board of Directors by vote at the monthly meetings. Dividends are paid on the average daily balance and posted on the last day of each month.

Share Draft Account

  • There are no minimum balance, monthly fees, charge per draft or hidden service charges.
  • VISA check cards are available upon approval.
  • Members 55 years of age and older can receive free checks.
  • The regular share draft account does not pay dividends.
  • A dividend bearing share draft account is also available. Dividends on this account will be paid at a rate approved by the Board of Directors by vote at the monthly meetings. Dividends are paid on the average daily balance and posted on the last day of each month.
  • Overdraft protection will be offered to those members who have sufficient funds available, and who do not have a history of excessive non-sufficient fund checks. The Credit Union will make an automatic transfer from a designated share account to cover a non-sufficient fund draft at a cost of $3.00. A notice will be sent if the service is utilized.
  • A credit report may be run to verify the member’s credit worthiness before a share draft account is opened.

Share Certificate

  • 6-Month, 12-Month, 15-Month, 18-Month, 24-Month, 36-Month, 48-Month and 60-Month Term Certificates are available.
  • Minimum balance of $500.00 is required.
  • APY is fixed for the term of the certificate.
  • Share certificate dividends are calculated on the average daily balance, and compounded and posted monthly. Yield applies when dividend is reinvested in the account.
  • A penalty may be imposed for early withdrawal.

Individual Retirement Account

  • Traditional and roth options are available.
  • APY is subject to change.
  • Penalty may be imposed for early withdrawal.
  • Contributions may be tax deductible in whole or in part, depending on your situation. ACT 1st Federal Credit Union does not intend to offer tax advice. We recommend that you contact a tax professional with any questions or concerns about deductibility.