Savings

Planning for your financial security. Savings is just the start!

Rates & Fees

Regular Share Savings

Establish your Credit Union membership by opening a Regular Share Savings account with an initial deposit of $25 and start taking advantage of our wide range of accounts and services.

Features:

  • No monthly service charge
  • Interest is earned on balances of $100 or more
  • Dividends are compounded monthly and paid quarterly
  • Online and mobile banking for easy access to manage your money
  • Member shares insured by the National Credit Union Administration

The initial deposit of $25 is not a fee. It is an amount that must remain on deposit for the term of your membership, and if you terminate your membership the $25 is returned to you.

Term Share Certificates of Deposit

Term Share Certificates of Deposit (CDs) earn the highest interest rate. Share certificates give you the opportunity to earn more interest on your savings by placing a specific amount on deposit for a specific term.

Features:

  • Minimum deposit amount is $500
  • Terms are available from 91-days to 5-years
  • The 91-day and 182-day certificates are simple interest certificates and dividends are paid at maturity and monthly respectively. All other dividends are compounded and paid quarterly.

Best If:

  • You do not need access to your funds for a length of time
  • You want to calculate your dividends paid upon maturity at the onset of your investment
  • You want short-term or long-term investments options

Learn more about our Online Banking Services.

Christmas & Vacation Club Accounts

Club Accounts are designed to help you save for predictable annual expenses, such as Christmas or a vacation.

Features:

  • No minimum to open

  • Fund with regular payroll deduction to save all year

  • Balance paid out automatically at maturity

  • Maturity Dates: 
    Christmas Club - November 1st each year
    Vacation Club - May 1st each year

Why the Southern?

Building financial success one member at a time.

Learn more

Financial Calculators

We offer a suite of online calculators to help you take the next step.

Take a Look

Savings FAQs

Choose a Savings Account question below

Can I have more than one Savings Account?
  • Yes, having a second savings is a convenient way to save for a special occasion, or for a major purchase, by keeping your funds separate from your primary savings.
  • There is not a minimum deposit required for an additional Savings Account. Only the Primary Savings Account must have a $25 deposit to open the account.

How can I transfer* funds to and from my Savings Account?

* Reg D - Savings and Money Market Account Limitations: The account owners will not be permitted to make more than six (6) withdrawals from the Savings Account per month for the purpose of transferring funds from the Savings Account to another account with the Credit Union or for making a payment to a third party by means of pre-authorized or automatic transfer, telephonic agreement (e.g. IVR, Online Banking, or Online Bill Pay), order or instruction. The following transfers or withdrawals do not count toward the six (6) withdrawal limitation: (a) any transfer for the purposes of repaying the Credit Union loans; (b) transfers among accounts of the same person, when made by mail, messenger, ATM, or in person. You are allowed a certain number of withdrawals during a month and the entire calendar year, after which service charges may be assessed. Both the number of withdrawals and the charges that may be assessed are listed on the Disclosure Supplement.