A savings account at a credit union; the shares are ownership interest in the credit union
This confers membership of a society with all the rights and potential benefits that can arise, for example, if it demutualises. Savers with deposit accounts, however, are not members. Any individual who still has a deposit account should arrange for it to be converted to a share account without delay.
Refers to a regular share savings account and any other account that isn't a share certificate account. A regular share account doesn't require a holder to maintain a balance greater than the par value and doesn't require notice of intent to withdraw (as except may be in accordance with official bylaws). Shares are legally defined as equity and represent ownership.
A savings account with a credit union. Opening a share account (or purchasing a share) is usually a nominal. The par value of your share ($5) is held in your account and is inaccessible to you until you close your account. A share account is required as a base on which to add additional products such as a checking account or loan.
The basic credit union savings account . You may usually withdraw money from your share account "on demand," that is, without giving your credit union advance notice and without paying a penalty. (Compare with share certificate account .)