We also offer the convenience of automatic savings via payroll deduction or direct deposit from your employer that will go directly into your savings or checking account. We are currently receiving funds from direct deposit and payroll deduction from over 150 employers in our area so, chances are, your employer is already participating. Why not begin this easy way to build up that nest egg or, save that trip to the credit union by having a deposit go directly to your checking. You, of course, are encouraged to save more than the minimum. Your savings earn interest on the average daily balance in your account.
Interest is compounded daily and paid quarterly.
There are no minimum balance fees or service fees connected to our savings accounts. We think it's a shame that at some institutions, people are being charged to save money. The River Valley Credit Union offers a number of different club accounts, all loosely structured. Club accounts are just a way to separate your savings for a specific purpose. We pay the same interest rates to club accounts that we pay to the base share account.