Visa Card LoginOnline Banking Login
ElecTel Cooperative Federal Credit Union
Savings Accounts

There are a lot of reasons to save money. Maybe you're planning a special purchase or family vacation. You may have long-range needs like a child's college education. Or maybe you just need to build a nest egg for some extra peace of mind.

When you're ready to start saving, we can help. We offer a variety of investment accounts - all with features you need like:

  • low minimum balance requirements
  • no maintenance fees
  • payroll deduction
  • competitive interest rates
  • deposits federally insured up to $250,000

Take a look at what we offer:

  • Regular savings - your basic membership account; makes you eligible for other credit union services. $1 to open and maintain. Unlimited deposits and withdrawals. Your membership may be single or joint with another person. As a general rule, all subsequent services (checking, loans, etc.) should be held in the same manner (single or joint) as the regular savings account.
  • Custodial or minor account - special credit union membership for children. Parent (custodian) controls the account; dividends are reported to the child's Social Security number. Account must be closed and/or converted to regular membership between age 18 and 21 (as designated by custodian). Any withdrawals must be issued by check.
  • Special savings account - allows you to save for a special purpose like vacation, taxes, insurance, etc. $1 minimum to open and maintain. Withdrawals limited to once or twice per year.
  • Christmas Club - easy way to save all year long for the holidays. $10 to open and maintain. Amounts are automatically deposited to your ElecTel checking account around October 15th.  If you prefer a check, your check will be mailed to the address we have on file.  Your Christmas Club will automatically renew for the next year. Withdrawals are not permitted; if you take the funds out early, the account will be closed. You can reopen it after November for the next year.
  • Money Market account - higher-yielding savings account. Minimum $500 to open and earn dividends. No penalty for lower balance.
  • Certificates of Deposit - allow you to invest a set amount of money for a fixed period of time. Our terms range from 90 days to 36 months. Minimum deposit as low as $500. 
  • Individual Retirement Account - a tax-sheltered savings plan designed primarily for retirement. We offer traditional and Roth IRA's, and Coverdell Savings Accounts. Depending on your needs, we can help you decide which account is right for you.
    All of our IRAs can be opened as share (savings), Money Market, or CD accounts. IRAs earn premium interest rates, and we charge no setup or maintenance fees. Members 59 1/2 and older have the unique option of transferring from one IRA CD to another at any time without penalty. This allows them to always earn our highest CD rate.

All of our savings and investment accounts (except CDs) earn interest that is compounded daily and paid monthly. Interest on Certificates of Deposit is compounded and paid monthly.

Regular Savings

Membership requirements are few, but you must open a Basic Savings account to be a member of ElecTel Cooperative. An initial deposit of just $25 establishes your membership and gives you ownership in the credit union. Why is this so important? As a member, you are now part owner of ElecTel Cooperative. You can participate in the annual meeting and have a say in the direction of the credit union. As a member and shareholder of the credit union you get the perks of ownership, not some suits on Wall Street!

Open an account today and reap the rewards of an ElecTel Cooperative FCU membership -- click here for an application.

Additional questions? Please call us at 1-800-849-5600 or email us at

Special Savings

This is a savings account similar to the Regular Savings account. This account can be used to save for a special occasion, event, etc. Once a Regular Savings account is opened, an initial deposit of only $10 starts you earning dividend rates that are compounded daily and paid monthly on this "Special" account.

Share Certificates

ElecTel Cooperative FCU offers highly competitive dividend rates on Share Certificates for terms of 90 days to 48 months. A low $500 minimum deposit lets you maximize your yield with the complete security of NCUA insurance. You’ll also enjoy:

  • A dividend rate that’s guaranteed throughout the term
  • Maximum return with dividends compounded and posted monthly
  • Statements detailing dividend earnings
  • At the end of the share certificate term, you will receive a maturity notice with a 10-day grace period. Take this opportunity to select another term, add funds to your account, or allow your certificate to renew automatically.

Please visit our rates page for more information, or call us at 1-800-849-5600 for our current specials!


Main Office: PO Box 27306, Raleigh, NC 27611
919-872-2395 | 800-849-5600 | fax: 919-876-8018