Membership Share Account

A $50.00 minimum deposit in a Membership Share Account is required to become a member of EFCU. This account is ideal for members who want to earn dividends and still make deposits and withdrawals from their account.

NOTE: Beginning on January 1, 2002, our par value of the Base Share Account (Suffix 0) increased to $50. Members whose Base Share Account balance falls below the minimum par value are not eligible for new Credit Union Services.

Minimum Balance	$50.00
Dividends	Calculated daily, paid monthly
Service Fees	None
Additional Account Information	No-charge ATM card with unlimited, free transactions at EFCU ATMs and access to the Allpoint Surcharge-free Network.

Accumulator Savings Account
This account is great for a special savings tool in addition to your Membership Share Account. An Accumulator Savings Account is perfect for saving for special needs such as a new car, vacation or college tuition.

Minimum Balance	None
Dividends	Calculated daily, paid monthly
Service Fees	None
Additional Information	Unlimited transactions

For more information on saving or some useful financial tools,
click on the logo to the left.

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U.S. Savings Bonds: Looking for a safe, easy way to save money and a solid addition to your investment portfolio?

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Money Market
Our Money Market Limited Account pays competitive rates while giving you the advantage of a checking and savings account in one easy-to-use program. You can make up to six pre-authorized withdrawals per month (including up to three by check) and unlimited in-person withdrawals. The minimum balance to collect the Annual Percentage Yield is $2,500.

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Term Share Certificates

EFCU offers a variety of Term Share Certificates from 3-60 months with competitive dividend rates. Click Here for our great rates!

  EFCU Big Certificate Sale right now: Big Rates ... Big Opportunity
These special rates on 3- and 6-month Certificates won’t last long! You don’t want to miss out on this opportunity to give yourself a financial reward for 2007. Bring in money from other financial institutions and put it to work at Energy FCU. To open your Certificate, visit any Energy FCU office or call us at 1-800-223-2177 (press 3) for more information.

How to Make More Money With Your Deposits: Certificate Laddering

Enjoy both financial safety and liquidity with a technique known as "certificate laddering". Realize the savings of short and long-term certificates and start making more money with your money.

“Laddering” is a strategy that allows you to have the best of both worlds – long-term, higher rate investments and short-term, more readily accessible investments to use the cash for other purposes, if need be.

For instance, take a $5,000 investment and purchase five (5) $1,000 share certificates each at 1, 2, 3, 4, and 5 year maturities. After one year, a certificate will mature. If you need the money, cash it in. If you don’t, reinvest it in a new five year certificate. Keep doing this each year and by the fifth year all your money is earning at the 5-year rate. See the example chart below (based on an initial balance of $5,000 in savings) and start saving.

You choose the time span of your ladder, but the principle remains the same – giving you larger savings and the advantage of maintaining access to your money! Contact our Call Center at 301-670-1300, option 3, to open a term certificate (CD) today.

A member who has a savings account is only permitted to have up to six preuthorized or automatic withdrawals, telephone transfers, or transfers initiated by personal computer to another account at the same credit union or to a third party during a calendar month or statement cycle (defined as a period of at least four weeks), and no more than three of these six transfers can be made by share draft, draft, debit card or similar order and payable to third parties [§204.2(d)(2)]. This is sometimes short-handed as the "3+3 rule." Not counted against this six monthly transfer limit are those transfers that the member makes in person, at an automated teller machine (ATM), by mail, by messenger or by a telephone call that results in a share draft or check being mailed to the member. While ACH debits to an account constitute preauthorized transfers, unlimited ACH credits or any other types of transfer of funds into the account may be made.

If a credit union links a savings account (including a money market share account) with a share draft account, it must assure that no more than the acceptable number of transfers from the savings account will be permitted. To do otherwise will result in both accounts being classified as transaction accounts [FRB interpretation of Regulation D, #2-285]. Multiple savings accounts may be maintained by a member without triggering the possible re-classification as transaction accounts if there is a legitimate purpose, other than increasing the number of monthly transfers or withdrawals, for opening more than one savings account [FRB interpretation of Regulation D, #2-286].

RESTRICTIONS NECESSARY ON TRANSFERS OR WITHDRAWALS FROM CREDIT UNION SAVINGS ACCOUNTS TO KEEP THE ACCOUNTS FROM BEING CLASSIFIED AS TRANSACTION ACCOUNTS

Unlimited withdrawalspermitted when:	Unlimited transferspermitted when:	Up to six withdrawals or transfers permitted per month - but no more than three of the six can be by share draft,check, debit card or similar payment vehicle payable to a third party when:
Made in person or by messenger	Made between the accounts of the same member AND made in person, by messenger, by mail orat an ATM	Made by telephone, fax, or personal computer and payable to a third party
Made by a letter request (considered the functional equivalent of the member coming into the credit union)	Made by the member to pay a loan the member has with the credit union	Made by telephone, fax or PC to another account of the member at the credit union
Made by telephone, fax or PC, if a check payable to the member is mailed to the member		Made by preauthorized, automatic or bill-payment arrangement for transfer to the member's other account(s) at the credit union or to a third party
Made using an ATM

Material copied from the CUNA website.

Consumer Credit Counseling Services
The Consumer Credit Counseling Services of the Washington DC Area have information available through their website at www.cccswdc.org or 800-747-4222. For the Maryland and Delaware area, the Consumer Credit Counseling Service of Maryland and Delaware, Inc. has information available on their website at www.cccs-inc.org or 1-800-642-2227.

For more information on saving or some useful financial tools, visit the Choose to Save education program at www.choosetosave.org.

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