Regular – $5 initial deposit in share savings. This guarantees your membership and offers you a wide array of additional product benefits. View additional product benefits. These funds are returned to you upon closing of the membership.
- You then become an owner of Glendale Area Schools Credit Union which makes every member eligible to vote at our annual meetings.
- You are now eligible for all other credit union services which are often a cost savings for members compared to banks.
- No monthly service charge.
- Quarterly statements.
- Having a checking account initiates a monthly statement.
- Interest accrues on average balances of $250 or more and is paid out quarterly.
- The credit union does not issue ATM cards for only savings but rather a checking account initiates a Debit Card (both ATM and Debit).
- Regulation “D” governs this share which places a limit of six withdrawals or outgoing transfers per month from savings or money market accounts via several transaction methods (see below).
- 0-18 years old.
- Only a $5 on deposit required (unlike $50 for adults).
- When a minor account holder turns 18 years of age, this share savings converts to a customary $50 on deposit in the saving account.
- It’s never too early to teach children the value of money. Early conversations help set the foundation of financial responsibility.
You need money to buy things.
To help your child achieve this milestone, try these activities:
- Identify coins and their value.
- Discuss how you may value something that is free, such as playing with a friend.
- Identify items that cost money, such as ice cream, gas for the car, or clothes.
You earn money by working.
To help your child achieve this milestone, try these activities:
- Describe your job to your child.
- Explain that some people start their own businesses using examples.
- Encourage your child to think about how he could earn money by setting up a lemonade or cookie stand or by mowing lawns.
Below are a few tips to help you manage your non-transaction accounts and avoid Regulation D limits
Regulation D Requirements
Regulation D is a federal law that applies to all financial institutions. Regulation D allows a maximum of six withdrawals or transfers per month from your non-transaction accounts such as your savings and/or Money Marketing Accounts.
Please view the chart below for Regulation D limitations.
Limit of Six Transactions per Month:
- PAL-Personal Audio Line (phone teller) or online Home Branching transfers
- Phone transfers
- Overdraft transfers to cover checks
- Point of Sale (POS) transactions from savings
- Overdraft transfers to cover Point of Sale (POS), ATM and Visa® Check Card transactions
- Electronic debits—Automated Clearing House (ACH)/Electronic Funds Transfer (EFT)
Unlimited Transactions:
- ATM withdrawals
- In-person (transfers or loan payments)
- Credit union checks sent to the account holder
- Mail (transfers or loan payments)
Within your checking account:
- Make one large transfer instead of several small transfers. Each transfer (made by calling the PAL-Personal Audio Line (phone teller) or using online Home Branching) counts as one transaction.
- Keep sufficient balances in your checking account to avoid overdrafts. Every overdraft made from your savings account into your checking account counts as one transaction. You’re only allowed six overdrafts to cover checks, ACH, ATM, POS and Visa Debit Card transactions. After you reach the limit, you may be subject to non-sufficient funds or Courtesy Pay fees.
- Set up ACH automatic debits with merchants or service providers to come out of your checking account instead of your savings account. Checking accounts are not subject to Regulation D.
Line of credit transfers:
- Apply for a Glendale Area Schools Credit Union overdraft from your VISA Credit Card. Regulation D transfer limits do not apply.
ATM transfers:
- Perform transfers at an ATM or in person at one of our branch locations.
