Member-Described Accounts

You Name It  |  Competitive Rates and Terms

Convenient Access  |  Safety and Security  |  How to Open Yours

At DCU, you can set up multiple Member-Described Accounts to save for any purpose under the sun and name them. The names you select for your accounts will appear on your DCU account statements and on PC Branch so your can easily track your progress toward your savings goals. You might name one Vacation for that upcoming trip of a lifetime or Wheels for the down payment on your next new car.

Open each Member-Described Account with as little as $100.00.

Compare DCU's Member-Described Account to bank statement savings accounts and you'll see how much better it is. You'll pay no monthly fees and the minimum balance is low. The dividend rate is typically higher than interest rates paid by commercial banks.

Your dividends are compounded daily and paid monthly each day your balance is $100.00 or more. Current dividend rates.

Use our Savings Calculators to help you determine the savings plan to meet your goals.

You can access your account 24 hours a day using any DCU ATM, PC Branch, and Easy Touch Telephone Teller. You can also access your account in any DCU branch and make deposits by mail.

When you direct deposit your net pay, Social Security, or pension into your DCU Checking Account, you'll want to regularly transfer some of this money into your Member-Described Accounts. It's easy. You can set up automatic transfers on PC Branch or have us set up automatic transfers for you.* It's a great way to pay yourself first and make your money grow faster.

*Federal Reserve Regulation D limits total phone or PC Branch transfers or withdrawals from all savings accounts into your checking account to six per month. Loan payment transfers, teller counter transactions, ATM transactions, deposits, and transfers into your account are unlimited. Select here for more on Reg. D.

DCU's Member-Described Account is federally insured along with your other DCU savings up to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency. Additional aggregate coverage is possible depending on how you structure the ownership of your family's accounts.

To open your account, print out a Checking and Savings Application (.pdf format), fill it out completely, and return it to DCU with your opening deposit of $100 or more. You can also open your account at any DCU Branch.

For more information about savings accounts or any of DCU's products and services, visit a local branch or call our Information Center at 508.263.6700 or 800.328.8797, weekdays from 8:00 am to 11:00 pm and Saturdays from 9:00 am to 3:00 pm, Eastern time.

Rates may change after the account is opened and are subject to change weekly. Funds earn dividends from day of deposit to day of withdrawal, compounded daily and paid monthly. Dividends are calculated on the full balance each day the balance is $100.00 or more. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on this account. Refer to DCU's Truth-In-Savings Disclosure and Account Agreements and Schedule of Fees and Service Charges.

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