There are plenty of reasons to save: retirement, a child’s education, a special occasion or just the security of putting away money for the future. Whatever your reason, Empowerment Community Development Federal Credit Union has a savings product that’s right for you. Our savings accounts offer competitive dividend rates and such convenient features as direct deposit and payroll deduction.


Share Savings Accounts

When you become a member of the credit union a savings account is opened in your name. It only takes $30.00, this includes your initial deposit of $25.00 and a one time membership fee of $5.00. All members must maintain a $25 balance in their savings account to remain a member, and demonstrate regular activity in their account to keep it open.

Other features of Regular Savings include:

  • A competitive interest rate paid quarterly on the average daily balance in your savings account. Contact the Credit Union for current rate information.
  • Withdrawals: To withdraw money from your savings account, simply stop by the Credit Union. Members may make up to three savings withdrawals per quarter free of charge. After three withdrawals in one quarter a $5 charge per excessive withdrawal is applied
  • Quarterly statements by mail.
  • Payroll deduction: You may have deposits to your savings account deducted directly from your paycheck.

Club Accounts

At Empowerment Community Development Federal Credit Union, we offer the following 4 types of club accounts to help you save for whatever special purpose you have:

  • Special Club
  • Vacation Club
  • Taxes Club
  • Education Club
  • Features included in the Club Account include:
  • A competitive dividend rate
  • No minimum balance required
  • Quarterly statement
  • Payroll deduction for convenient automatic deposits

Share Rates

Please contact the Credit Union for current share rates

Fee Schedule

Share Account Fees
Regular Share Account Excessive Withdrawal Fee
(Can Waiver Fees on Senior Account)
$5 per withdrawal after 3 withdrawals per quarter
Special Share Account Early Withdrawal Fee $5.00
Other Service Fees (applicable to all accounts)
Account Research Fee $10.00 per hour
Statement Copy Fee $1.00
Deposited Items Return Fee $5.00
Items Sent for Collection Fee $20.00
Stop Payment Fee $25.00
Return Check Fee $25.00
Share Value
Par Value of one share $25.00

Direct Deposit

You can arrange to have your payroll, Social Security, pension or any other recurring check deposited directly into your Empowerment Community Development Federal Credit Union checking or savings account. By doing so, you can eliminate the possibility of losing your check and avoid the need to stand in line to cash or deposit it.

Please contact us or view the FAQs page if you have any questions about direct deposit.

Payroll Deduction

When you establish payroll deduction at Empowerment Community Development Federal Credit Unio, money is automatically deducted from your paycheck and deposited in your savings account or checking account, or used to make loan payments. It’s an easy way to save or to ensure that you’ll never miss a loan payment.

Please contact us for more information on payroll deduction.

Kids Club

The Kids Club is a fun and adventurous way to save. It is important for children of all ages to learn the fundamentals of financialmanagement. Your credit union invites all young savers ages 12 and under to join the Kids Club, a program designed to teach today’s youth the merits of saving their money.

Children build responsible, life long money management habits by:

  • Watching their savings grow
  • Making basic financial transactions
  • Learning the value of saving

For more information on how to join the Kids Club, please call or stop by the credit union

Federal Insurance (NCUA)

The National Credit Union Administration (NCUA) provides insurance coverage of up to $250,000 for your Credit Union account(s). To learn more about the type of accounts and the total amounts that the NCUA may insure visit this link directly to NCUA: