Your savings insured to
at least $100,000 by the
National Credit Union Administration, a U.S. Government Agency.
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Section contents:
 A Northrop Grumman Federal Credit Union savings account,
more commonly known within credit unions as a Regular Share Account,
is a federally insured, dividend-paying account that allows members to earn
dividends while permitting immediate access to funds. The account may be
opened with a minimum $5 deposit, and added to or withdrawn from as the
member chooses. In addition, the Regular Share Account may be used to
provide overdraft protection for checking accounts. |
 Eligibility |
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Anyone eligible for membership in Northrop Grumman Federal Credit Union is eligible to open a
Regular Share Account. |
Summary |
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When you join Northrop Grumman Federal Credit Union, you must open a
Regular Share Account to begin your lifetime membership. You can open as many savings accounts as you wish. If your minimum average daily balance
in an account is at least $100, dividends are compounded monthly, and accumulate by applying the periodic dividend rate to the average daily balance in the account for the period.
Offering a variety of benefits to members, Regular Share Accounts:
- Are federally insured up to $100,000 by the NCUA
- Pay dividends
- Allow unlimited free over-the-counter withdrawals per month
per suffix when total shares are $1,000 or more or there is an
outstanding loan balance on the account. (When this minimum
requirement is not met, 1 free over-the-counter withdrawal per month per
suffix.) See Schedule of Fees.
- May be opened as a:
- Gift to Minors Account
- Youth Account
- Trustee Account
- Business Account
- Company-Sponsored Club Account
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| Minimum Requirements |
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The following requirements apply to savings accounts:
- Minimum opening deposit of $8
- $5 minimum balance
- $3 membership fee
To earn a monthly dividend
- Maintain an average daily balance of $100 or more
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| Frequently Asked Questions |
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Q: I have a savings account with a large bank. Why should I move here?
A: As a member/owner of Northrop Grumman Federal Credit Union, you receive benefits in the form of high dividends on savings, low interest rates on loans, and no or low fees. You can also take advantage of the convenience of having your savings account where you conduct your other financial business, and have access to a variety of other time- and money-saving services.
Q: Do you charge for a savings accounts?
A: There are no charges as long you maintain the required minimum balance
and/or are actively using Northrop Grumman Federal Credit Union loan products.
Q: Can I get a passbook instead of a statement?
A: Northrop Grumman Federal Credit Union mails quarterly or monthly statements showing all activity on your savings account. You may also receive a print out of your current account activity in person by visiting one of our locations. |