Share Account - Savings Account

“Share Account” is credit union terminology for what banks refer to as a savings account. All members of LOMTO FCU must have a share account with a minimum balance of $25.00. Dividends are declared on a Semi-Annual basis by the credit union board of directors after each period. Dividends are based on applying the daily periodic rate to any balance in the account greater than $500 each day. All accounts are insured to at least $250,000 by The National Credit Union Administration.