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Member Described Account

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Member Described Savings Account

  • Savings account with your own custom name
  • Competitive dividend rates
  • $100 minimum to open and earn dividends
  • Free online, mobile, and branch access
  • Federally insured by NCUA

View Details tab for account details and rates.

Member Described Savings Account Details

  • You choose the name of your saving account – You can set up multiple accounts and give them names to help you identify what each is for. The names will appear on your DCU account statements and in Online Banking so you can easily organize 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.
  • Competitive dividend rates – Compare DCU's Member-Described Account to bank statement savings accounts. Your dividends are compounded daily and paid monthly each day your balance is $100.00 or more.
  • $100 minimum balance to open and earn dividends – There are no monthly fees.
  • Free online, mobile, and branch access – You can access your account 24 hours a day using any DCU ATM, Online Banking, and Easy Touch Telephone Teller. You can access your account in any DCU branch and make deposits online anytime with a scanner or camera in your smart phone by Online Deposit.
  • Federally insured by NCUALearn more about insurance on all your savings at DCU and how to maximize your coverage.

*Federal Reserve Regulation D limits total phone or Online Banking 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.

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. 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.

Rates for Member Described Savings Accounts*

Minimum/Terms Dividend Rate Annual Percentage Yield
Earned on entire balance when $100 or more 0.05% 0.05%

Rates are effective .

*Rates may change after the account is opened and are subject to change weekly. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on these accounts. Refer to DCU's Truth-in-Savings Disclosures and Account Agreements and Schedule of Fees and Service Charges

Annual Percentage Yield (APY) is a figure calculated using a federally-mandated formula. It's designed to help you compare the return you'll get in a uniform way between the certificate, savings, and money market accounts offered at various institutions. It tells you at what percentage your money will grow in one year at the same dividend rate – including the effects of compounding. For example, the APY on a 6-Month Certificate would be what you earned at the end of a year if you renewed your certificate once, did not add to or subtract from the balance along the way, nor withdrew any dividends.

Member Described Account is rated 4.8 out of 5 by 270.
Rated 5 out of 5 by from very good service very affordable rates for auto lone i love it i will recommend my friends to apply the DCU for auto lone
Date published: 2017-12-09
Rated 5 out of 5 by from DCU Rocks!! I've been a member for going on 5 years and DCU has been there for me each time I needed them. Questions about my accounts to assisting me in streamlining my finances, DCU has been there for me, saving me money along the way!
Date published: 2017-12-02
Rated 5 out of 5 by from Great products Great credit union the best hands down the best ever.
Date published: 2017-11-28
Rated 5 out of 5 by from Still going strong after 37 years as their customer! There is a very good reason we've been members of DCU fir 37 years...they have always had our backs! Whether financing vehicles, houses or major items, DCU has always had the best financing choices. The process has always been oainless as DCU's expert employees have provide clear, concise documentation that nit only protected DCU's interests but ours as well...something we never experienced at any other bank or credit union. Even when we moved out of the area, DCU has always been there for us, making it easy for us to conduct all our banking transactions easy and convenient. A heartfelt thank you to all the DCU employees thru the years that have been so helpful and supportive.
Date published: 2017-11-25
Rated 5 out of 5 by from good feature It lets me set up different accounts for special reasons
Date published: 2017-11-18
Rated 5 out of 5 by from They are very helpful when planning your monthy expensise I like to use member described account to place my weekly pay into them for the end of the month bills. At the end of the month when the bill comes in I just transfer the money out the checking and pay
Date published: 2017-11-14
Rated 5 out of 5 by from Add member defined account It was nice to add this account on line. It was a more detailed proces than I expected, but it worked out well.
Date published: 2017-10-28
Rated 5 out of 5 by from Alert: no ach-out available from memb desc savings acct The member-described savings account works as advertised, easy, inexpensive. Use a checking account instead if you need to support outbound ACH transfers.
Date published: 2017-10-21
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Member described savings

How can I change the name of my member described savings account?
Asked by: Mary
Login, open the Account Manager either from the top green house area, or just from the menu choice. Once in there, look for Account Information Once you see all your accounts listed, there will be a little pencil icon which puts you into edit mode. If you have trouble, login then open the Live Chat to ask for help. Usually the wait time is tolerable.
Answered by: Clover
Date published: 2017-10-21

Will I get a separate ATM card if I open a new Member described account? If not, how do I request for one?

Asked by: Ann
No. Your member described account is not a whole new account. It's just a new savings account all under the same member number. You don't need a new ATM card; you should still be able to access the account with the existing ATM card.
Answered by: Boscoseven
Date published: 2014-04-19

How to delete or close a member described account ?

Asked by: SS
My only experience with closing an account with DCU - I called and it was done. In a matter of minutes what I wanted was completed without any hassle!
Answered by: BpllP
Date published: 2017-12-02

can i set-up direct deposit to member described account?

i am told by th some reps that direct deposit cannot be set-up for these accounts.
Asked by: memberSinceLong
yes i have direct deposit and it is great
Answered by: rayjoyce
Date published: 2017-12-09

Are there monthly fees on a member described account, if a certain balance isn't maintained?

Asked by: Autumn
There are no fees assessed on the Member Described account, however, to earn dividends a minimum balance of $100 must be maintained.
Answered by: DCU Staff
Date published: 2017-02-18
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Easy Ways To Open a Member Described Account

  1. Open Online
  2. By Phone
    Call 508.263.6700 and press 3
  3. Visit a DCU Branch