Savings

This is the second requirement for membership and represents a members’ ownership of, or members’ equity in the Credit Union. This amount cannot be withdrawn while the person remains a member; they can be only be sold or transferred to other members. In addition to Regular Shares all new members must also purchase at least one (1) Ordinary Share valued at $5.00 each.

Deposits give you the flexibility to save for your own specific needs and are kept separate from your regular shares. This account features:

• No minimum balance
• Withdraw funds as needed
• 2% interest rate paid annually.

For members who need some assistance with saving for special reasons and occasions may save over a defined period and withdraw at the maturity date.

Save monthly towards buying or building your first home. Members get a tax shelter of up to $500.00 saved monthly. Set your savings target and join the WINNERS CIRCLE today.

Spirit of the Calabash Account (SOCA) is designed for members’ children ages fifteen (15) and under to encourage and promote a good savings habit and a healthy appreciation for thrift among our youth from a very early age. Activities associated with the owners of this account aims at strengthening the family bond amongst youth at a very early age.