Parish Member Credit Union
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Savings/Share Account

A daily interest account is offered to the members of the credit union. A minimum of 5 shares are needed to open a daily interest account. The monetary value assigned to each share is $5.00.

There is a minimum daily balance of $25.00 required to obtain the Annual Percentage Yield for the dividend period. If the minimum balance is not met, the member will not earn the stated Annual Percentage Yield. Dividends are calculated by applying a daily periodic rate to the principal in the account each day. Dividends will begin to accrue on non-cash deposits on the business day the deposit is made to the account. If a member closes their account before accrued dividends are credited, accrued dividends will not be paid. Dividends are credited monthly and compounded monthly. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the calendar month dividend period. The Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors.

The National Credit Union Administration (NCUA), a United States Government Agency, insures deposits at the credit union to $250,000.

Dividend Rates
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