Savings Accounts | Pelican Credit Union

A credit union share account is just like a savings account, but with high-earning dividends. Our accounts give you more than a place to save—you get a place at the table. Join our financial family today for as little as $15!

What's the difference between a Primary and a Simple Savings?

Primary and Simple Savings are essentially the same savings account with just a few simple differences:

A Primary Share represents your ownership of the credit union and is required to have a membership at Pelican. Only one primary share per member. Requirements start at a $15 minimum opening deposit ($10 membership fee + $5 minimum account balance).

Simple Savings is an extra savings account that you can have multiples of in addition to your Primary Share to track all of your savings goals separately. The only requirement is that you must first have a Primary Share.

Benefits (the same for both accounts):

Up to 0.60% APY⁹
No monthly service fee
Tiered dividends paid quarterly on balances of $100.01 and above
3 free withdrawals per month ($5 per withdrawal thereafter)

Apply for Simple Savings

Stack Savings

Link your checking and savings to start saving automatically!

All ATM fee reimbursements and rewards earned in your Stack Checking or Cash Back account will be automatically deposited into your Stack Savings account to help you save each month.

To earn your Checking and Savings rewards, complete these simple tasks in your checking account each monthly qualification cycle.

Be enrolled and receive FREE eStatement notice
Be enrolled and log into MyPelican
Have at least 15 debit card purchases post and settle
Have at least 1 direct deposit, online bill payment, or automatic payment (ACH) post and settle

Miss a month? You still save and you can try again the next month!

Look under "Bundles" when you apply to find Stack Savings!

Apply for Stack Savings

Team Pelican Youth Account

Get on the right path to financial success early—this free account is available exclusively to our youngest members, ages 17 and under.

Pelican Credit Union's Team Pelican youth account gives our community's most impressionable members the right impression when it comes to managing money. Members 17 and under are exclusively eligible for this savings account that pays quarterly dividends.

BENEFITS

For ages 17 and under
Dividends paid on entire balance; credited quarterly
Get paid for good grades⁴
No monthly service fee
Learn how to save from an early age
Automatically converts to a regular savings account on 18th birthday
Open in conjunction with a Teen Checking Account

Open a Team Pelican Account

For kid-focused financial wellness resources such as videos, blog posts, and activity sheets, visit our For Kids page! It's full of fun for both parents and their kids as they begin their financial path with Petey the Pelican!

Visit For Kids Page

Freedom Shares

Choose a FREE savings account that will save you money on your Share Pledge loan!

When you pair a Freedom Share account with a Share Pledge loan of any amount, you can get the lowest interest rate possible from Pelican! By leveraging your collateral to get a lower interest rate, you can increase your saving power thanks to lower monthly loan payments.

The interest rate for our Share Pledge loan is 2.5% APR⁸ above the Freedom Share dividend rate of 0.25% APY⁵, resulting in a combined loan APR of 2.75%. For example, if you take out a $10,000 loan with a 5-year term, your monthly payment would be $178.58.

ADDITIONAL BENEFITS

Quarterly dividends paid on balances over $1,000⁶
No monthly service fee
No minimum opening deposit or minimum balance requirement
Three free withdrawals per month; $5 each thereafter
FREE digital banking through our MyPelican app
FREE eStatements

Apply for Freedom Share

Christmas Savings

Make Christmas that much merrier with the help of a savings account that lets you set aside cash throughout the year—and earn dividends!

Stay out of the red while enjoying a little extra green this holiday season. Christmas Savings funds are paid out the first week of November—leaving you with plenty of time to shop, wrap, and swap. So Santa isn't left sweating it out in the winter cold. And since we're in the giving spirit, there's no minimum balance to earn dividends and no minimum deposit.

BENEFITS

Dividend rates far above national average
Earn dividends on entire balance
No monthly service fee
Save little by little throughout year
Funds disbursed first week of November, just in time for holidays
Or choose to keep funds in Christmas Savings for next year
Penalty on earnings for early withdrawal⁷
Set up automatic transfers to help save
No minimum balance requirement
No minimum deposit to open

Apply for a Christmas Savings

Money Market

Looking for a smarter way to grow your money? Our Money Market Account is built for members who keep higher balances and want higher returns without sacrificing access to funds.

Plus, all Money Market Accounts come with Excess Share Insurance, which insures up to $1,000,000 in funds across your savings accounts.

Earn more as you save more:

$20,000.00 – $99,999.99: 1.82% APY
$100,000.00 – $199,999.99: 2.84% APY
$200,000+: 3.87% APY³

Features:

Minimum deposit of $20,000
Includes Excess Share Insurance—more protection for your money
Available for revocable or irrevocable trusts
Flexible access: 1 free withdrawal each month; $50 per withdrawal after

Get the account designed for serious savers who want both security and earning power!

Open a Money Market Account

_{¹Pelican Credit Union membership is required to open a Stack Checking account. To become a member, you must open and maintain the required share account. The par value of one share is $5.00, and one share is required for membership. A minimum deposit of $25.00 is required to open a Stack Checking account. Pelican reserves the right to limit Stack Checking accounts to one per primary account holder Social Security number. Not everyone will qualify to open an account. Stack Checking is a tiered-rate account. The dividend rate and Annual Percentage Yield (APY) may change at any time as determined by the Credit Union’s Board of Directors. The dividend rate and APY are the rate and yield as of the last dividend declaration date, which is set forth in the Rate Schedule. If your average daily balance is $20,000.00 or below and your Stack Checking account meets all minimum service requirements during the qualification period, the first dividend rate and APY listed for this account in the Rate Schedule will apply for the dividend period. If your average daily balance is greater than $20,000.00 and your Stack Checking account meets all minimum service requirements during the qualification period, the second dividend rate and range of APYs listed for this account in the Rate Schedule will apply for the dividend period. Each dividend rate will apply only to that portion of the account balance within each balance range. The minimum service requirements include: (1) making 15 debit card point-of-sale purchases that are cleared and posted to your account during the qualification period; ATM transactions do not qualify; (2) having direct deposit, ACH debit, ACH credit, or Bill Pay transaction posted to your Stack Checking account; (3) accessing online banking once during the qualification period; and (4) receiving your monthly statement electronically. If you meet all minimum service requirements during the qualification period, all nationwide ATM fees will be refunded by the second day of the next calendar month. Dividends earned and ATM fees refunded on the Stack Checking account will automatically be transferred to the Stack Savings Share account, if available, during the first week of the next calendar month. If you do not meet all minimum service requirements during the calendar month, the third dividend rate and APY listed in the Rate Schedule will apply to the entire balance in your Stack Checking account. The qualification period is defined as a period beginning on the last day of the prior calendar month and ending on the next-to-last day of the calendar month in which the dividends are paid. For complete account terms, limitations, and current rate information, refer to Pelican’s Truth-in-Savings Disclosure, Rate Schedule, and Schedule of Fees and Charges. Federally insured by NCUA. Pelican Credit Union membership is required to open a Stack Savings account. Stack Savings is available only to holders of a Stack Checking account. The required membership share account must be opened and maintained in accordance with Pelican’s membership requirements. Pelican reserves the right to limit Stack Savings accounts to one per primary account holder Social Security number. Stack Savings is a tiered-rate account. The dividend rate and Annual Percentage Yield (APY) may change at any time as determined by the Credit Union’s Board of Directors. The dividend rate and APY are the rate and yield as of the last dividend declaration date, which is set forth in the Rate Schedule. If the average daily balance in your Stack Savings account is $150,000.00 or below and your Stack Checking account meets all minimum service requirements during the qualification period, the first dividend rate and APY listed for this account in the Rate Schedule will apply for the dividend period. If the average daily balance in your Stack Savings account is greater than $150,000.00 and your Stack Checking account meets all minimum service requirements during the qualification period, the second dividend rate and APY listed for this account in the Rate Schedule will apply for the dividend period. Each dividend rate will apply only to that portion of the account balance within each balance range. If your Stack Checking account does not meet all minimum service requirements during the calendar month, the third dividend rate and APY listed in the Rate Schedule will apply to the entire balance in your Stack Savings account. The qualification period is defined as a period beginning on the last day of the prior calendar month and ending on the next-to-last day of the calendar month in which the dividends are paid. For complete account terms, limitations, and current rate information, refer to Pelican’s Truth-in-Savings Disclosure, Rate Schedule, and Schedule of Fees and Charges. Federally insured by NCUA.}

^{²Pelican Credit Union membership is required to open a Cash Back account. To become a member, you must open and maintain the required share account. The par value of one share is $5.00, and one share is required for membership. A minimum deposit of $25.00 is required to open a Cash Back account. Not everyone will qualify to open an account. No dividends are paid on this account. However, you may qualify for ATM fee reimbursements and cash back rewards if you meet all minimum service requirements during the qualification period. The minimum service requirements include: (1) making 15 debit card point-of-sale purchases that are cleared and posted to your account during the qualification period; ATM transactions do not qualify; (2) having direct deposit, ACH debit, ACH credit, or Bill Pay transaction posted to your Cash Back account; (3) accessing online banking once during the qualification period; and (4) receiving your monthly statement electronically. If you meet all minimum service requirements during the qualification period, all nationwide ATM fees will be refunded by the second business day following the end of the last day of the statement cycle. Purchases up to $250.00 will receive 4.00% cash back, with a maximum of $10.00 per statement cycle. The qualification period is defined as a period beginning on the last day of the prior calendar month and ending on the next-to-last day of the calendar month. For complete account terms, limitations, and current fee information, refer to Pelican’s Truth-in-Savings Disclosure, Rate Schedule, and Schedule of Fees and Charges. Federally insured by NCUA. Pelican Credit Union membership is required to open a Stack Savings account. Stack Savings is available only to holders of a Stack Checking account. The required membership share account must be opened and maintained in accordance with Pelican’s membership requirements. Pelican reserves the right to limit Stack Savings accounts to one per primary account holder Social Security number. Stack Savings is a tiered-rate account. The dividend rate and Annual Percentage Yield (APY) may change at any time as determined by the Credit Union’s Board of Directors. The dividend rate and APY are the rate and yield as of the last dividend declaration date, which is set forth in the Rate Schedule. If the average daily balance in your Stack Savings account is $150,000.00 or below and your Stack Checking account meets all minimum service requirements during the qualification period, the first dividend rate and APY listed for this account in the Rate Schedule will apply for the dividend period. If the average daily balance in your Stack Savings account is greater than $150,000.00 and your Stack Checking account meets all minimum service requirements during the qualification period, the second dividend rate and APY listed for this account in the Rate Schedule will apply for the dividend period. Each dividend rate will apply only to that portion of the account balance within each balance range. If your Stack Checking account does not meet all minimum service requirements during the calendar month, the third dividend rate and APY listed in the Rate Schedule will apply to the entire balance in your Stack Savings account. The qualification period is defined as a period beginning on the last day of the prior calendar month and ending on the next-to-last day of the calendar month in which the dividends are paid. For complete account terms, limitations, and current rate information, refer to Pelican’s Truth-in-Savings Disclosure, Rate Schedule, and Schedule of Fees and Charges. Federally insured by NCUA.}

^³Pelican CU membership required. If you are not a Pelican member, you must be eligible to open a Primary Share account with Pelican to become one. The deposit to open a Primary Share account starts at a minimum of $15 ($10 to join + $5 minimum balance). APY = Annual Percentage Yield. Rates and account features are subject to change at any time. Advertised APY of 3.87% is highest for Money Market Accounts and applies to accounts with balances of $200,000 and above. Shares with balances of $20,000 - $99,999.99 earn 1.82% APY, and shares with balances of $100,000 - $199,999.99 earn 2.84% APY. Dividends are forfeited if account is closed prior to dividend payment. Money Market Accounts allow 1 free withdrawal per month; a fee of $50 will be charged on each additional withdrawal. A $25 fee will apply if the minimum balance falls under $1,000. Pelican reserves the right to limit the number of accounts allowed per member, joint or individually. Other account transfer and withdrawal limitations m

⁴Pelican CU membership eligibility required. Adult 18 years old or older must be a joint account holder on child’s Team Pelican youth savings account. To open an account, the joint account holder must provide a form of identification for themselves as well as a birth certificate and Social Security card for the child. Highest attainable grade on the report card pertains to each individual semester-end report card’s grading scale, including A, S (Satisfactory), and (O) Outstanding. Maximum of $35 per semester-end report card for Team Pelican accounts ($5 per A) and $70 per semester if the student also has an active Pelican Teen Checking account ($10 per A). Copy of official semester-end report card required. Report card must list account holder’s name, school name, and date or year to qualify for rewards. Only the student's most recent semester-end report card will be accepted. Report cards are accepted for either of the major semesters, such as May-end and December-end, or terms, such as spring or fall terms. December-end (or fall term) report cards can be cashed in until February 28 of the following year, and May-end (or spring term) report cards can be cashed in until July 31 of the same year.

⁵APY = Annual Percentage Yield

⁶Dividends are forfeited if account is closed prior to payment.

⁷Dividends are forfeited if account is closed prior to payment. At least $10.00 must be available in the account at maturity to receive paper check by mail. If you wish to access the funds in your Christmas Club accounts, at any other time, we may impose a fee.

^⁸APR = Annual Percentage Rate

_{⁹Pelican Credit Union membership is required to open a Simple Savings account. To become a member, you must open and maintain the required share account. The par value of one share is $5.00, and one share is required for membership. A minimum deposit of $10.00 is required to open a Simple Savings account. Simple Savings is a tiered-rate account. The dividend rate and Annual Percentage Yield (APY) may change at any time as determined by the Credit Union’s Board of Directors. The dividend rate and APY are the rate and yield as of the last dividend declaration date, which is set forth in the Rate Schedule. Once a particular balance range is met, the dividend rate and APY for that balance range will apply to the full balance in the account. A minimum average daily balance of $100.01 is required to avoid a service fee and to earn dividends. For complete account terms, limitations, and current rate information, refer to Pelican’s Truth-in-Savings Disclosure, Rate Schedule, and Schedule of Fees and Charges. Federally insured by NCUA.}