The savings account is the basic account for all of our members. Every credit union member is required to open a savings account, and must maintain a minimum balance of $5.00 in this account to maintain your membership. This account functions like most other savings accounts that you would find at other institutions. You may make deposits, withdrawals, direct deposits and more from your CSE savings account.
PLEASE NOTE: The minimum balance needed to earn dividends on this account is $100.00 for adults and $25.00 for children who have an M3 Kids account or Elements of Money Teen account.
Current Savings Rates
Money Management Accounts
This account traditionally earns a higher rate of return than the share account. Dividends are compounded weekly. Guidelines for this account are:
- Minimum average daily balance of $1,000.00 to earn dividends
- Minimum withdrawal of $500.00
- Maximum 3 withdrawals per month
Term Share Certificates
The minimum amount for a Term Share Certificate is $500.00. Certificate rates are reviewed and set monthly by the credit union's Board of Directors. There is a penalty for early withdrawals. CSE offers several Term Share Certificates:
- 91 Day
- 6 Month
- 1 Year
- 18 Month
- 2 Year
- 3 Year
- 4 Year
- 5 Year
Current Certificate Rates
CSE offers two club accounts - a Christmas Club and a Vacation Club. These accounts may be opened anytime during the year. Christmas Club funds are disbursed on November 1st and Vacation Club funds on April 1st.
Special savings accounts can be set up to help you save for a special purpose. These accounts are exactly the same as CSE’s Savings (Share) Accounts, but allow members to have an extra account for rainy days or other saving purposes. Please speak to a member service representative for details.
The credit union offers Traditional, Roth and Coverdell Educational IRAs for your financial planning. Rates are reviewed and set monthly by the credit union's Board of Directors. There is a penalty for early withdrawals. Call for details.
Health Savings Account (HSA)
Health Savings Accounts (HSAs) were created so that individuals covered by high-deductible health plans could receive tax-preferred treatment of money saved for medical expenses. Generally an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA. Please consult with your tax advisor before opening one of these accounts.