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Savings Accounts

All the ways to achieve safe, secure and steady growth

Basic Statement Share Account

    Overview

    No-frills and no fees, this simple savings account grows your shares and gives you access to:

    Features

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    As of 11/21/2024

    Basic Statement Share Account
    Right for you if you want to…Set up a simple savings account with online banking, online bill pay and a free ATM card
    Minimum Deposit$5
    Minimum Balance1$100
    Maximum BalanceUnlimited
    Monthly Service ChargeN/A
    Dividend Rate0.05%
    APY20.05%

    1Minimum balance to earn dividends

    2APY: Annual Percentage Yield / Fees may reduce earnings on the account.

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    Advantage Statement Share Account

      Overview

      Get the added advantage of earning a higher rate2 for a higher-than-average balance,3 plus:

      Features

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      As of 11/21/2024

      Advantage Statement Share Account
      Right for you if you want to…Get higher rates with a higher balance, plus free online banking, online bill pay and ATM card2
      Minimum Deposit$50,000
      Minimum Balance1$50,0002
      Maximum BalanceUnlimited
      Monthly Service Charge$302
      Dividend Rate0.10%
      APY20.10%

      1Minimum balance to earn dividends

      2Balances below minimum are assessed a monthly service charge

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      Credit Builder Statement Share Account

        Overview

        Build (or rebuild) your credit using a small amount of credit builder loan-secured funds as collateral.4

        Features

        • $500 minimum deposit
        • Improves your credit score

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        As of 11/21/2024

        Credit Builder Statement Share Account
        Right for you if you want to…Establish or reestablish credit using secured funds as collateral2
        Minimum Deposit$500
        Minimum Balance1$500
        Maximum BalanceUnlimited
        Monthly Service ChargeN/A
        Dividend RateN/A
        APY2N/A

        1Minimum balance to earn dividends

        2Retains secured funds as collateral for the life of the loan; released upon successful completion of loan terms and regular timely payments.

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        Savings Is Fun Statement Share Account

          Overview

          For the youngest savers in the house. Experience the joy of watching your money “grow” with this starter savings account.5

          Features

          • LUSO funds the first $5 to open your account
          • Converts to Smart Start share savings account (L-U-S-O Share) with ATM card at age 12

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          As of 11/21/2024

          Savings Is Fun Statement Share Account
          Right for you if you want to…Set up a savings account for the youth savers in your life2
          Minimum Deposit$5
          Minimum Balance1$5
          Maximum BalanceUnlimited
          Monthly Service ChargeN/A
          Dividend Rate0.05%
          APY20.05%

          1Minimum balance to earn dividends

          2Account automatically converts to a Smart Start Share Account (L-U-S-O Share) when account holder reaches age 12.

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          Smart Start Share Account (L-U-S-O Share)

            Overview

            Get more financial flexibility (and responsibility) as you enter middle school and higher grades.6

            Features

            View Rates

            As of 11/21/2024

            Smart Start Share Account (L-U-S-O Share)
            Right for you if you want to…Give more financial flexibility to students in middle school and up, plus free mobile banking and mobile check deposit2
            Minimum Deposit$5
            Minimum Balance1$100
            Maximum BalanceUnlimited
            Monthly Service ChargeN/A
            Dividend Rate0.05%
            APY20.05%

            1Minimum balance to earn dividends

            2Requires e-Statement account processing except for In-School Banking accounts. Age qualification applies for mobile banking/mobile check deposit.

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            Club Accounts

              Overview

              Tuck money away for holidays, vacations, renovations or anything else in your future plans.

              Features

              • Open an account with as little as $5
              • Set your weekly savings amount

              View Rates

              As of 11/21/2024

              Club Accounts
              Right for you if you want to…Set money aside for the holidays, getaways, or other life expenses
              Minimum Deposit$5
              Minimum Balance1$5
              Maximum BalanceUnlimited
              Monthly Service ChargeN/A2
              Dividend RateN/A
              APY2N/A

              1Minimum balance to earn dividends

              2No dividend on Club accounts.

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              Classic Now Money Market Accounts

                Overview

                Earn competitive dividend rates and steady growth with more access to your funds than a term share.

                Features

                • Up to six free monthly transactions
                • Low minimum deposit and balance

                View Rates

                As of 11/21/2024

                Minimum Tier$500.00$5,000.00$25,000.00
                Maximum Tier$4,999.99$24,999.99Unlimited
                Dividend Rate0.10%0.15%0.20%
                APY10.10%0.15%0.20%

                $100 minimum balance

                1APY: Annual Percentage Yield/Fees may reduce earnings on the account. Allows 6 free transactions per month, $10 per item thereafter. Statement Share Account required to establish membership.

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                Compare your options.
                Basic Statement Share AccountAdvantage Statement Share AccountCredit Builder Statement Share AccountSavings Is Fun Statement Share AccountSmart Start Statement Share AccountClub AccountsClassic Now Money Market Account
                Right for you if you want to…Set up a simple savings account with online banking, online bill pay and a free ATM cardGet higher rates with a higher balance, plus free online banking, online bill pay and ATM card2Establish or reestablish credit using secured funds as collateral4Set up a savings account for the youth savers in your life5Give more financial flexibility to students in middle school and up, plus free mobile banking and mobile check deposit6Set money aside for the holidays, getaways, or other life expensesEarn competitive tiered dividend rates and steady growth7
                Minimum Deposit$5$50,000$500$5$5$5$1009
                Minimum Balance1$100$50,0003$500$5$100$5$5009
                Maximum BalanceUnlimitedUnlimitedUnlimitedUnlimitedUnlimitedUnlimitedUnlimited
                Monthly Service ChargeN/A$303N/AN/AN/AN/A$209
                Dividend Rate0.05%0.10%N/A0.05%0.05%N/A100.10% (Tiered)
                APY80.05%0.10%N/A0.05%0.05%N/A100.10% (Tiered)

                  1Minimum balance to earn dividends

                  2Requires active share draft (checking) account and e-Statement processing. Free debit card through SUM Program with ScoreCard Rewards.

                  3Balances below minimum are assessed a monthly service charge

                  4Retains secured funds as collateral for the life of the loan; released upon successful completion of loan terms and regular timely payments.

                  5Account automatically converts to a Smart Start Share Account (L-U-S-O Share) when account holder reaches age 12.

                  6Requires e-Statement account processing except for In-School Banking accounts. Age qualification applies for mobile banking/mobile check deposit.

                  7Allows 6 free transactions per month, $10 per item thereafter. Statement Share Account required to establish.

                  8APY: Annual Percentage Yield / Fees may reduce earnings on the account.

                  9Balances below $5,000.00 are assessed a $20.00 monthly service charge. Minimum to open is $100; minimum to earn dividend is $500.

                  10No dividend on Club accounts.

                  Checking Accounts

                  Experience all the benefits of banking with LUSO Federal Credit Union, starting with a $5 share account. Open an account today.

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