Helping you prepare for your future, one deposit at a time.
Your membership begins with a Share Savings Account. After that, you may take advantage of a number of specialty savings programs to help reach your goals successfully.
Single and Joint Owner Accounts
Accounts may be opened with one or multiple owners. The single owner account is in the name of one individual and it’s advisable to have a will or other document to designate an heir or heirs in the event of the death of the account owner.
For married persons, children, and many others, joint accounts are encouraged so that the money passes to the other owner or owners upon the death of the first named owner automatically. There is no limit to the number of owners on an account.
Only the first-named person on Share Savings joint accounts may make loans, and this person is a credit union member. Therefore, it’s a good idea for each family member to be the first-named person on his or her own Share Savings Account, whether it be a single or joint owner account.
Account Agreement & Disclosures
Share Savings Account Truth in Savings Disclosure
Share Savings Account
A Share Savings Account is established when you join the credit union. The account serves as your primary savings account and is great for emergency savings and to cover any accidental checking overdrafts. As a member you are required to maintain a minimum balance of $5. Dividends are paid from the date-of-deposit to the date-of-withdrawal on all balances of $5 or more. They are calculated on daily balances and dispersed monthly.
Deposits can be made in person at our Main Office Location , by U.S. Mail, or by Payroll Deduction/Direct Deposit.
Withdrawals can be made at our Main Office Location or by calling ahead to have a check prepared for mailing or pickup. Open a YEFCU Checking account for easy access to funds via Online Banking, Mobile Banking and a YEFCU MasterCard Debit Card.
Money Market
Consider opening a money market account to earn more interest than the current rate of our Share Savings Account. It allows you flexibility to withdrawal funds without a penalty as associated with early withdrawals from a Certificate of Deposits. Minimum deposit of $500.
Christmas Club Account
The Credit Union offers a Christmas Club account for holiday savings. We recommend convenient payroll deductions for automatic deposits with each direct deposit. Withdrawals can be made at any time and if you don’t use all your Christmas savings this year, you can continue earning monthly dividends on them for next year.
Vacation Club Account
Everyone needs to get away at some point. Start saving a little bit at a time so you’ll have the funds when you’re ready with a YEFCU Vacation Club Account. We recommend convenient payroll deductions for automatic deposits with each direct deposit. Dividends are distributed monthly and funds are available for withdrawal at any time.
Club Accounts
Members may establish one or more Club Accounts for any special-purpose savings and earn rates equal to the Christmas and Vacation Clubs. We recommend convenient payroll deductions for automatic deposits with each direct deposit. Dividends are distributed monthly and funds are available for withdrawal at any time.
Stork Club
When a new baby arrives, the YEFCU Stork Club will waive the $1.00 membership fee and deposit the young one’s first $5.00 to his/her share account. All you need to do as a parent (or grandparent) is complete a membership card within 6 months of the baby’s birth (or adoption). A social security number will be required to open the account. The account must be maintained at a minimum balance of $5 to avoid any low-balance fees.
Savings & Club Account Rates
Effective January 1, 2022| Balance | Dividend | APY* |
|---|---|---|
| $5 – $2500 | 0.05% | 0.050% |
| $2500.01 and over | 0.05% | 0.050% |
| Money Market Tiers | ||
| Minimum $500-$10,000 | 0.30% | 0.30% |
| $10,001 to $50,000 | 0.35% | 0.35% |
| $50,001 and over | 0.45% | 0.45% |
| *APY=Annual Percentage Yield | ||