No minimum deposit amount is required. This savings is to accumulate money for any reason. It originally was called Vacation Club Three withdrawals are allowed in a calendar year without a fee. The rate of dividend on this account is greater than a share savings account due to limited withdrawals. This is a large balance checking account used as an investment vehicle.
Authorized withdrawals consist of three checks per month and three withdrawals or transfers.
Dividends are paid on plateau balances. This savings is for Individual Retirement Accounts. IRA's are regulated by the Federal Government to promote savings for retirement. The money deposited or withdrawn may or may not be taxed, depending on the type. Share Certificates Also known as Certificates of Deposit, these are a contract savings plan.