Savings Accounts

$5.00 In A Savings Account

is your basic membership share in the credit union. That's why you'll see savings referred to as your "main share" account.

All accounts except checking earn interest ("dividends" in credit union language) on the last day of the month, based on your average daily balance for the month. (See "Rates & Fees" for dividend rates).

Members may automatically have funds credited (that is, direct deposited) to their savings accounts, but federal regulations do not permit members to automatically debit savings accounts to pay utility bills, life insurance bills, PayPal accounts, etc. Please inquire about a checking account if you would like to make payments from funds deposited at the credit union.

About Reg D and Your Savings

All financial institutions are governed by Federal Regulation D, which sets limitations on the number of electronic transfers individuals may make each month from their savings accounts to other accounts. The regulation allows no more than six pre-authorized withdrawals from your Main Share account or from Christmas Club and other auxiliary share accounts. These withdrawals include Automated Clearing House (ACH) transactions, Visa Debit Card purchases, telephone transfers, online banking transactions, and overdraft transfers to your checking account. A payment transferred to your JACFCU loan does not count.

Anyone who exceeds this limit at JACFCU may be assessed a fee of $30 per transaction to cover the additional administration required to comply with Regulation D.

Consider these ways to reduce the number of transfers you make:

  • Transfer more money at one time to your checking account, rather than allowing the system to pull funds over to your checking.
  • Change your direct deposit to go into your checking account rather than your savings account. Then, set up an automatic transfer from your checking to your savings as often as you like.
  • Consider an Overdraft Protection line of credit. You can transfer from your savings at any time to pay a loan without counting against your limit.
  • You may make unlimited transfers or withdrawals in person or through an ATM at any time.

JACFCU savings account you can:

  • Receive direct deposits
  • Withdraw cash, in person or at an ATM
  • Purchase money orders, Visa Gift Cards, etc.
  • Load funds onto a prepaid Visa debit card
  • Have payments automatically transferred to your JACFCU loan

Christmas Club

This is a self-directed savings plan: deposits may be payroll-deducted (check with your employer), automatically transferred from your checking or savings, or made in person on a schedule you choose. In the first week of November, we will mail you a check for the balance of your Christmas Club if it totals more than $25.00, just in time for holiday shopping!

Vacation Club and other Auxiliary Accounts

If you would like to put money aside for a specific purpose--vacation, taxes, motorcycle, emergencies--ask about adding an auxiliary account. This will appear on the same statement as your main share, but is separate so you can easily track your progress toward your goal.

IRAs (Individual Retirement Arrangements)

JACFCU offers both Traditional and Roth IRAs to help you in your retirement planning. You can access official IRS information about retirement account contributions (590-A) and distributions (590-B)


There are no fees charged for ordinary use of your savings account. The following are some uncommon situations where you might encounter a fee:

  • Return of deposited check - $30.00
  • Dormant Account Fee (per year, after two years inactive) - $10.00
  • ATM Cards - First ATM Card is free, replacement ATM Cards are $5.00 by mail, $10 instant-issue