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Savings Accounts

Savings Accounts

Saving is an important part of your financial plan.  Quaker Oats Credit Union offers several savings accounts to fit your needs.

Share Savings Account

Investing only $5 in a Share Savings Account buys you a share of Quaker Oats Credit Union and makes you a member-owner. This also enables you to take advantage of all the products and services QOCU has to offer.

  • Minimum of $5 to open a regular share savings account.
  • Dividends paid on balances of $100 and over.
  • Deposit and withdrawal upon demand without penalty.

Please contact the credit union or complete the online forms to open a Share Savings Account.

Money Market Account

A Money Market Account is a special savings account that offers a rate of interest higher than a regular share account.

  • Minimum of $2,500 to open a Money Market Account.
  • Dividends paid on balances of $2,500 and over.
  • Deposit and withdrawal upon demand without penalty.

Please contact the credit union to open a Money Market Account.

Christmas and Vacation Club Accounts

Christmas or Vacation Club Savings Accounts are designed to help you save for these special times.  Transfer funds throughout the year into your Club Account each pay period or each month.

  • No minimum balance to open a Christmas or Vacation Club Account.
  • Christmas Club money will be automatically transferred to regular savings accounts on November 1st every year.
  • $10 early withdrawal fee per withdrawal on Christmas Club accounts only.
  • If you currently have a Christmas Club Account, you do NOT need to re-open the account for next year. The account will automatically restart with your first pay period in November.

Please contact the credit union to open a Christmas or Vacation Club Account.

LIFE Timer’s Club Account

The LIFE Timer’s Club is a savings account for members 55+ years old. For a minimum balance of $1,000 you can get many benefits such as:

  • Free Liberty Checks (1 box a year)
  • Free Cashier Checks
  • HIGHER CD Rates
  • LOWER Loan Rates

Please contact the credit union to open a Life Timer’s Club Account.  

 

*A Share Savings Account must be opened before any additional accounts can be opened.  Each member is insured up to $250,000 by the National Credit Union Administration.