Save Time & Money By Keeping Your Account Active

It is important not allow your credit union account to go dormant.

Keeping you account active is as simple as making a single deposit or withdrawal of any amount at least once every 11 months. That is all there is too it! By following this very simple practice you avoid your account going dormant and incurring quarterly dormancy fees.

In addition, if an account is dormant for 3 years we are required, by state law to remit the funds in that account to the state as abandoned property. So if you have a savings account with E&G, or any other institution, following this one simple rule and it will save you both time and money.

What would my rate be on my savings?

We  offer our members the best rates possible on their savings. The rate a member receives is determined account type you use:

  1. A Regular Share Account is a basic savings account allowing easy unrestricted access to your money.
  2. A Money Market Account offers higher dividends than does a share account. You still maintain easy access to your money but are limited to 6 transactions per month and each transaction (withdrawal or deposit) must be for at least $200.
  3. A Share Certificate is like a CD as it has a specific term of maturity from 6 to 36 months. These certificates offer a still higher dividend rate. These can be Regular Share Certificates or IRA Certificates, if they are held inside an IRA.




How do I set up automatic deposits from my employer?

If you work for one of our groups we are happy to contact the payroll department to set up the automatic deposits as per your request. If you don’t work for one of our groups or prefer to set it up yourself with payroll you will need the following information:

Our Routing/Transit Number      221977035

Your Account number (found on your statement or the card we provided you). Your should indicate if you wish the deposit to be made into your savings or checking account

You can also provide a voided check to payroll which will provide the information they need (see image below)

Are my savings federally insured and protected?

Yes, your savings are protected buy the full faith and credit of the United States Government. They are insured by the NCUA, National Credit Union Administration, for at least $250,000. See the chart below for details about how the coverage works.

What type of savings accounts are available at E&G?

There are several savings options at E&G EFCU members can take advantage of. All of our savings federally insured by the NCUA for at least $250,000.

  1. Regular savings account is the main account which makes an individual a member. Members need to maintain a balance of $25 in this account and it returns dividends on every dollar while maintaining its availability to the member.
  2. Club accounts are available to save for those special times of year, holiday time and for Summer vacations. Either club can be started at any time but each have a specific time to be disbursed with the dividends they earn. Holiday club accounts are disbursed around the 2nd week of October for Holiday shopping and the vacation club is disbursed the 2nd week of June for your vacation plans.
  3. Money market provides members higher dividend rates, while maintaining availability to members. Money market accounts do require a minimum balance of $2,500 and also are limited to 6 transactions per month. Plus, each transaction, deposit or withdrawal, must be for at least $200.00.
  4. Share certificate offer the highest dividend rates and do restrict access to the money saved within them for a specified term. Terms range from 6 to 36 months and require a minimum investment amount of $500.
  5. IRAs are also available to our members for retirement savings. These savings are invested into regular IRA savings or an IRA share certificate with a term of your choosing. This is a great way to set aside retirement savings without the risk of investing in stocks or bonds.