A Credit Union share account is like a regular savings account, but there are differences. It's called a share account because when you deposit your funds, you are actually purchasing shares and becoming a credit union owner.
Share accounts earn dividends.
Dividend rates are declared by the Board of Directors, and may be changed at any time. Interest on these accounts is also computed using the average daily balance method and will be paid and compounded monthly. Many members want access to their funds, while earning interest. For them, the Sterling Fund money market type account pays attractive rates of interest while allowing limited check writing privileges. Annual Percentage Yield Interest Rate Minimum Balance Tier 1 2.