Savings Accounts

As a member of Emerald Coast Federal Credit Union, you have access to a variety of affordable financial products. These include share/savings, term share certificates, free checking, and much more.

 Share (Savings) Accounts

Our regular share (savings) account is the basic savings account you must open to become a member of the credit union. The minimum balance required is $5.00. This amount must remain in your share account at all times to maintain your membership. There is also a one-time fee of $5.00 when establishing a new account. 

Dividends are calculated monthly and paid to share accounts on the last day of each month. To earn dividends, a share account must maintain an average daily balance greater than $100.00. Our Board of Directors determines the dividend rate paid on shares each month. 

All share accounts are insured by the National Credit Union Share Insurance Fund (NCUSIF), which is the federal deposit insurance of the National Credit Union Administration (NCUA), an independent agency of the United States government. Each account is insured up to $250,000. However, shares maintained in different types of accounts or combinations of accounts can increase the total coverage. For more information, please contact us or visit NCUA’s Share Insurance Toolkit by clicking here.

Christmas Club/Special Accounts

These accounts may be used for a variety of purposes. For example: saving for Christmas, a college fund, a child’s wedding, or any other special occasion or need. These accounts earn the same dividend rate as regular share accounts. There is no minimum balance required to open a Christmas Club/Special Account and there are no withdrawal limitations.  

Share Certificates

We offer a variety of term share certificates at competitive rates. A share certificate is a deposit made for an established period of time (term) and at a specified rate for that term. Dividends are payable monthly and may be added to the share certificate balance, transferred to a share or share draft account, or mailed by check to your home address. 

The minimum deposit required to open a share certificate is $1,000.00. Terms available for deposit are 91 days, 6 months, 12 months, 18 months, 24 months, 30 months, and 36 months. Penalties may apply for early withdrawals. 

Investing in share certificates is a safe, simple way to earn a greater return on your money. We also offer special rates to retirees (age 55 and over). Learn about our current offerings.

Individual Retirement Accounts (IRAs)

We can help you save for your retirement! This can be achieved by establishing an IRA account with us. We offer both Traditional IRAs and Roth IRAS. If you are interested in saving for a child or grandchild's education, we also offer Coverdell Education Savings Accounts. The minimum deposit required is $250.00. Terms available are 91 days, 6 months, 12 months, 18 months, 24 months, 30 months, and 36 months. 

If you are interested in setting up this type of account, please contact our Share Certificates Department for more information. As always, please consult your tax advisor for help in determining which type of IRA will best suit your individual needs.