Shares

Each member upon making the required minimum $5.00 deposit is allotted one share in the Credit Union. That $5.00 is deposited into what is known as a Share Account. A Share Account is very similar to a Passbook Savings account. There are no penalties or fees for withdrawal and all money is generally available on demand.

At present, there is a maximum share deposit of $500 per month, per member.  All Butler County public schools and Butler County Community College offer payroll deduction, which is the easiest way to save systematically and pay off a loan.  Dividends are calculated on an average daily balance beginning at $50 from the day of deposit to the day of withdrawal.  Currently, dividends are paid quarterly.  The amount of dividends paid is determined by the money earned by the Credit Union in the dividend period and is usually fixed at the Board of Directors meeting in the last month of the dividend period.  This dividend is credited to your account on the first day of the next dividend period.

Money received from the schools through payroll deduction is entered into your account as of the date it is received from the school. 

Money not loaned out to members is invested in financial institutions insured by an agency of the Federal Government and in U. S. Government backed securities.

Federally Insured Savings

Your shares/savings are Federally Insured to at least $250,000 by the National Credit Union Share Insurance Fund (NCUSIF) administered by the National Credit Union Administration (NCUA) and backed by the full faith and credit of the United States Government. The NCUA is a U.S. Government Agency.