Membership at Johns Hopkins Federal Credit Union begins with a $25 deposit into a
Share Savings account. The $25 is not a fee, it gives you a “share” of ownership in the credit union and will be returned to you if you ever decide to close your account. The $25 initial deposit will remain in your savings account unavailable for you to use; if you look at your statement, or in
Online or
Mobile Banking, you will always see it reflected in your “Account Balance”, just not in your “Available Balance”.
Once you open a Share Savings account, you are eligible to open or apply for our
other great products and services we have to offer. You can also sponsor your immediate
family members in for membership once your account is established. And if you move or change employers you do not have to close your account - Once a member, always a member!
If you decide to open just a savings account with JHFCU, you are eligible for a free
ATM card, giving you access to over 50,000 surcharge free ATMs. You can also make up to three withdrawals per month from savings accounts in our branches; excess withdrawals are subject to a fee. (Note that you can make unlimited in-branch withdrawals from our Share Draft Checking account at no charge).
JHFCU pays dividends on all balances, with higher dividends paid on balances over $5,000, $10,000, and $25,000. Dividends are compounded daily and paid quarterly from date of deposit to date of withdrawal. Share accounts are federally insured by the
National Credit Union Administration (NCUA), up to $250,000.
Emergency Fund Boot Camp
The reality is that emergency expenses come in many forms and that there are less traumatic examples out there that would be equally good at messing up your financial situation, so it might make more sense to think of your emergency fund as a “life happens” fund.
Rule of 72
Everyone has some idea of what it means to be money smart — however, whether or not you’ve acted on that idea is a different story! There are a few nuggets of financial wisdom in particular that are echoed so many times in articles, blog posts and TV segments that they become clichés, albeit practical ones. Curb your spending. Pay off your debt. Contribute to your savings early and often. Compound interest is your friend. Start saving now and watch your money grow.