Savings Accounts
Share Savings Account
This is a basic savings account. It's called a Share Savings account because it represents your ownership in the credit union and opens the door to our vast array of products and services. Every member must hold a Share Savings account to be a member of NCPD FCU. An initial deposit of just $5.00 starts you earning dividend rates that are compounded and credited quarterly.
Your savings are federally insured to $250,000 by NCUA, the National Credit Union Administration, a United States Government Agency.
Holiday Club Account
Our Holiday Club account let's you accumulate cash for holiday gifts. A minimum deposit of $5.00 will open the account. Deposits may be made through direct deposit, payroll deduction or over the counter. Funds in your Holiday Club account will be transferred to your Savings Account in October. Premature withdrawals will result in a $5.00 penalty.
Federal Savings Insurance
Your savings at NCPD FCU are insured to $250,000 by NCUA. The share insurance is similar to deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Federal Savings and Loan Insurance Corporation (FSLIC). Share accounts in federally insured credit unions are insured up to $250,000, an amount equal to the insurance protection offered by the FDIC and FSLIC. Generally, if a credit union member has more than one account in the same insured credit union, those accounts are added together and are insured up to $250,000. There are exceptions, however. If a member has a regular share account and an Individual Retirement Account in the same credit union, the regular share account is insured up to $250,000 and the Individual Retirement Account is insured up to $250,000. The NCUA Insurance booklet gives a more detailed explanation of insurance coverage.
As a member of the NCPD Federal Credit Union, you do not pay directly for your share insurance protection. NCPD FCU pays into the NCUSIF, the National Credit Union Share Insurance Fund, a deposit based on the total amount of insured shares in the Credit Union.
Determine if you have adequate share insurance for your NCPD FCU accounts using NCUA's Share Insurance Estimator
Life Savings Insurance
NCPD FCU furnishes members (at no cost) a Life Savings/Insurance Policy on your share balance up to a maximum benefit of $2,000. Certain restrictions apply. Contact the credit union for further details.
