Savings
Share Account
When you join Teacher Federal Credit Union and deposit your first $10 into a share account, you purchase one share in TFCU and become a member and an owner. You are now eligible to apply for all the services that TFCU has to offer.
Your Share (Savings) Account earns dividends and you receive a quarterly statement of all account activity. Your savings may also be used as collateral for a TFCU loan at a special rate of interest.
Sub-share Accounts
You may open several sub-share accounts for any purpose you wish. Then name the account for easy identification (such as Cruise Vacation, Sue's College Fund or Car Insurance). On your statements or via Personal Access Home Banking, you'll see at a glance how your special account is growing. Try saving directly from your paycheck or by automatic transfer from another TFCU account. It makes saving easy.
MoneyFund Account
Use this account to earn a higher dividend rate than the Share Account plus keep your money liquid. You can start your MoneyFund Account with a minimum opening deposit of $2,500.
Transaction Limitations for All Savings Accounts
Regulation D requires that during any calendar month you may not make more than six (6) withdrawals or transfers from your savings account to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction. Transactions governed by Regulation D include, but are not limited to:
- Automatic transfers from savings to checking for overdraft protection
- Automatic transfers from savings to any other account
- Telephone transfers from savings to any other account (including transfers made using Telexpress and the fax machine)
- Preauthorized payments from savings
- Transfers from savings to any other account using Personal Access Home Banking.
No more than three of the six transfers may be made by check, draft, debit card, point-of-sale transaction, if applicable, or similar order to a third party.
Regulation D allows unlimited transfers or withdrawals from a savings account when made by mail, messenger, ATM, or in person, or when such withdrawals are made by telephone provided a check is mailed to the member. Transfers to repay loans at the credit union and to pay safe deposit box rent are also unlimited.
MoneyFund Account
Teacher Federal Credit Union's routing number (or ABA number) is 291075080.
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