When first applying for membership to the Dairyland Power Credit Union, you are required to open a Share Savings Account. We require only a $5.00 deposit which will then act as your share in the credit union, providing you with the right to vote for the Board of Directors and to participate in the variety of service offerings available. We offer a variety of savings accounts to accommodate the differing needs of our membership. The following savings accounts are available to you at anytime:

Share Savings Account

The Share Savings Account is your main account at Dairyland Power Credit Union. Your initial $5.00 investment must remain in this account in order to maintain membership. Dividends are paid quarterly at the current rate at the time of posting on the Share Savings Account on amounts exceeding $45.

DIV APY
Without Insurance .05 .05
Christmas Club .10 .10
Menny Penny .05 .05
Share Drafts .05 .05
Value Plus .00 .00
Escrow .20 .20
DIV = Dividend | APY = Annual Percentage Yield

Christmas Club Savings

Dairyland Power Credit Union also offers a Christmas Club account to our members. The term for the Christmas Club account is November 1st through October 31st of each year. Deposits can be made at any time, but a $5.00 fee will be applied for all withdrawals made during the year. The balance of this account will then be transferred to your share savings during the first week of November.

Youth Programs

The Youth Programs are available for members aged 13-17 years old. Joint share accounts are available to our youth membership; and a joint share draft account is available with the permission of a parent or guardian. The monthly share draft fee is waived upon opening a share draft account. Dairyland Power Credit Union also provides education to our youth membership on financial matters and how to reconcile a share draft account.

Menny Penny

Membership in the Menny Penny Account is available to any child or grandchild of a credit union member that is currently aged 12 or under. The Menny Penny account requires a minimum balance of $2.50 and pays the same dividend rate as regular shares. Menny Penny members will receive a share account passbook, a savings bank and a certificate at the time the account is opened. When the child reaches age 13, the funds are then transferred to a regular share account under our Youth Program.

Certificates of deposit are also available to Menny Penny members with a minimum balance of $250. Terms of the certificates will be for one or two years only and will pay the same rate as the $500 minimum certificate of deposit.

And for the newest members of your family, Dairyland Power Credit Union offers a Menny Penny account to all babies born to existing members. The new baby will receive a Menny Penny account in its name and Dairyland Power Credit Union will waive the required membership fee. The account will be handled in accordance with the Uniform Gift to Minors Act and is the parent’s responsibility to notify the credit union of the birth.

Money Market

Money Market accounts are savings accounts which pay a dividend rate based on the daily balance method which applies a daily periodic rate to the principal in the account each day. The three tiers of minimum balances are $2,500, $10,000, and $25,000.

During any quarter, members may not make more than six withdrawals or transfers to another credit union account or to a third party by means of a preauthorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check withdrawal or similar order to a third party. If you exceed the transfer limitation during any quarter, the account will be subject to closure by the credit union or a fee of $1.00 per item.

Transfers into the account, however, are permitted without limits. In addition, Reg. D imposes no limits on the member’s ability to make withdrawals in person, at an ATM, by messenger, by mail (via check sent to the member), or by voice telephone (via check to the member).

Money Market accounts are non-transferable. The account may not be transferred by the member except by a change in ownership that is reflected on the books or records of the credit union.

Money Market DIV APY
UNDER $2,500 .05 .05
$2,500 min .05 .05
$10,000 min .05 .05
$25,000 min .05 .05
DIV = Dividend | APY = Annual Percentage Yield