Share Savings Account Share Draft Account Sub-Share Account Share Certificate Account Individual Retirement Account Holiday Club Account
		Share Savings Account The Share Account is the Credit Union name for your savings account. This is the base account that every member is required to open and maintain in order to retain Credit Union membership. Opening this account establishes your Credit Union account number. All other accounts opened (sub-shares, share drafts, IRAs, loans) will be under this primary account number. By establishing a share account with MCEFCU, you earn membership privileges, including voting privileges. You may establish a share account with a minimum deposit of $5.00, but do not earn dividends until your balance reaches $100.00. Once you have established the base share account, you are eligible to use any of the other services offered by MCEFCU. All share accounts earn dividends on an average daily balance method (once your account has a minimum balance of $100.00). Dividends on share accounts (except IRAs) are paid and compounded on a monthly basis. The Board of Directors declares the dividend rate monthly.