Types of Savings Accounts and Add-Ons
PRIME SHARE SAVINGS ACCOUNT
A Prime Share Savings account is the base account needed to become a member of Educators. Just deposit $5, which represents one share (and your ownership) in the credit union. You’ll now be able to use all of Educators services! Interest is earned on the Prime Share Savings account when your balance is $100 or more.
Visit an Educators location to open your Business Savings.
OTHER SPECIAL SAVINGS ACCOUNTS
Special Savings accounts can be set up for any purpose. No minimum balance is required and interest is earned when the balance in the account is $100 or more. You can open a Special Savings account and rename these accounts as Holiday, Summer Pay or Vacation Club account. Ask any Member Finance Representative for more information on these options.
Contact us or open a new special savings in Online Banking.
SHARE CERTIFICATE JUMP-UP AND ADD-ON OPTIONS
Some of the Educators Share Certificates have Jump-up or Add-on options. The Jump-up option allows you to request a rate increase when our rates increase once during the term of your Share Certificate. You will receive the higher rate for the remaining term of the certificate.
The Add-on option allows you to add to the value of your Share Certificate by depositing a minimum of $500 to your Share Certificate at any time. The new money you add starts earning dividends the same day you make the deposit.
Check out the Share Certificate rates to see which certificates offer the Jump-up and Add-on options.
To open any business account you must have:
- Sole Proprietor – Proof of EIN (if applicable)
- Partnership – Proof of EIN and Partnership Agreement*
- Corporation – Proof of EIN and Articles of Incorporation*
- LLC – Proof of EIN and Articles of Organization*
- Tax Exempt Club/Donation – Proof of EIN and Proof of Nonprofit/Tax Exempt Status
*All signers including any owner with 25% or more interest will need to provide personally identifiable information (PII) to establish the account. PII includes Name, Address, Date of Birth, Social Security Number and Valid ID with current address.