Compare Account Types
Share (Savings)
A credit union savings account is called a share account because it represents actual share purchases in the credit union. These shares make you a member/owner in Heritage South Community Credit Union and make you eligible for every service we offer. A minimum balance of $5 must be kept in each share account to keep it active.
You will receive a quarterly statement detailing your account activity and transactions may be made at any of our offices, through the mail, or by the convenient method of payroll deduction or direct deposit. Every share account at Heritage South Community Credit Union is also insured to $250,000 by the National Credit Union Administration, a U.S. government agency.
Dividends
Every share account at Heritage South Community Credit Union receives dividends on a quarterly basis. Those dividends are declared by our Board of Directors and set in accordance with earnings. They are calculated through the last day of the quarter and paid out on the first day of the following quarter.
Share Draft (Checking)
Heritage South Community Credit Union offers a share draft account with numerous advantages over ordinary checking accounts:
Our basic share draft/checking account offers numerous advantages over traditional checking programs.
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No minimum balance requirement
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No monthly service charge
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No per-check charge
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Interest-bearing on balances over $1,000
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Preauthorized drafts for bill payment
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Monthly statements
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Optional overdraft protection
Heritage South Community Credit Union is also proud to offer its members the convenience of using a VISA Check Card. This card can be used wherever merchants accept VISA and can be utilized as either a debit or ATM card.
Deposits can be placed into your share draft/checking account at any of our offices, by mail, mobile deposit via our mobile app, or through payroll deduction or direct deposit. All deposits into your share draft account are federally insured in conjunction with the aggregate total of your account up to $250,000 by the NCUA.
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Share Certificate
Heritage South Community Credit Union has several options with its share certificates, depending on the term and deposit each individual member desires.
Certificate terms Term Minimum Deposit Six-Month $1,000.00 One-Year $100.00 Two-Year $100.00 Three-Year $100.00 Five-Year $100.00 Rates on these share certificates are subject to change weekly and dividends are available in a variety of methods, depending on each member's individual preference. A substantial penalty is imposed if the certificate is withdrawn prior to its maturity, though some exceptions may apply.
Certificate accounts are automatically renewed at the prevailing rate upon maturity unless the credit union is notified otherwise. Members are notified at least 10 days in advance of the certificate's maturity.
Gold Share Money Market
Our Gold Share Money Market account features a terrific yield, as well as access to your funds when you need them. The minimum balance is $2,500 and deposits are unlimited. However, the unique aspect of this account is that you may write up to three checks and make three over-the-counter withdrawals or transfers per month. The dividend rate tiers are as follows:
$2,500 to $9,999.99
$10,000 to $49,999.99
$50,000 to $99,999.99
$100,000 to $199,999.99
$200,000 & above.
60+ Club
Heritage South members over the age of 60 benefit by receiving all of the benefits of the Share Draft (Checking) product, plus having the option to receive all of their basic checks free of charge. Heritage South has also gone the extra mile to make it simple to set up direct deposit of most government or pension checks.
Christmas Club Account
The Christmas Club account at Heritage South Credit Union is a disciplined way for members to save money for the holidays. Rates and dividends are calculated the same as all other share accounts. The money saved will be transferred to your share/savings account around the middle of October.
Individual Retirement Accounts
An IRA share certificate from Heritage South Community Credit Union is an excellent way to save for your retirement years. Heritage South offers Traditional, Roth,and Education IRAs. These accounts are similar to a certificate in that it has a set maturity from one to five years. Dividends are compounded quarterly on IRA accounts and rates are the same as those on regular share certificates.
IRA accounts offer many benefits, including tax-deferred interest and possible tax deductions (on traditional IRAs). Withdrawal penalties for various reasons, however, can be stiff concerning IRA accounts. Consultation with your tax advisor is recommended before electing to make an early withdrawal.
Transfers IRA
Heritage South Community Credit Union has made it simple for members to transfer their IRA from another financial institution. The only requirement is that you are a current member of the credit union and that you have a valid IRA.
Direct Rollover IRA
As of January 1, 1993, distributions from an employer's retirement plan must be made as a direct rollover to an IRA or a mandatory 20% without exception, will be withheld before the funds are paid to the individual. Heritage South Community Credit Union provides this service to its members.
Rollover IRA
A rollover is a tax-free distribution of cash or other assets from one retirement plan to another. There are two types of rollover plans. One allows you to put the amount you receive from one IRA into another. The second lets you put the amount from an employer retirement plan into an IRA. Representatives from Heritage South Community Credit Union can help you decide which plan you will need to pursue.
Rally Checking
Don't lose hope if you have struggled to manage a checking account in the past! Our Rally Checking Account is your second chance for a successful financial future. When you open a checking account at Heritage South, we will check a national consumer reporting agency to see if you have had past overdraft issues or account closures. If we find a less-than-perfect banking history, you may be eligible for our Rally Checking Account. This second-chance checking account allows you to have a debit card. With satisfactory activity, you may qualify for optional overdraft protection after six months or be eligible to convert to a regular account after one year. Fees apply to our Rally Checking Accounts, so speak to us to learn more about these special accounts.
Rally Checking Accounts are closely monitored and closed without notice if abused. Additional fees do apply for this product. Visit your local Heritage South location for more information.
Special Club
This account is just like any other share account, with the only difference being that a Special Club account can be designated to save for specific purposes (i.e. vacation, taxes, education, etc.). There is no minimum amount to keeping this account active and dividends are paid the same as a regular share account.
Accounts for Kids and Teens
No matter the age of your kid or teen, we have the right account for them to learn how to save and manage money wisely! Whether they're saving for toys, bikes, their first car or their senior trip, we have three different accounts to help them develop crucial savings skills before they become adults. Learn more about these accounts.