The Share account is the foundation of Credit Union membership. Sometimes referred to as a savings account, your Share Account represents your ownership in the Credit Union. The minimum deposit required for a DOT Credit Union Membership Share account is $5, and regardless of the amount a member has on deposit, each member has one share and one vote.
To remain a member in good standing and use the services and other accounts of the Credit Union, a member must keep a Membership Share account open with a least $5 on deposit. You may also open additional share accounts under your main account, but there are no minimum balance requirements for any additional accounts.
Share Certificate Accounts are fixed-rate, fixed-term investment accounts that combine competitive returns with the security of a guaranteed investment. We offer a variety of CD terms, along with competitive rates. Click here or call for current rates and terms.
Individual Retirement Accounts (IRA's)
An IRA is an account that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis. We offer two types of IRA's:
Traditional IRA - An Individual Retirement Account to which you contribute pre-tax or after-tax dollars, and which allows your money to grow tax-deferred. When you make withdrawals after age 59½, they're treated as current income.
Roth IRA - an Individual Retirement Account allowing a person to set aside after-tax income up to a specified amount each year. Both earnings on the account and withdrawals after age 59½ are tax-free.