Deposit Accounts


With your initial deposit of $25 in your Prime Share Account, you are eligible for all of McKesson Employees' Federal Credit Union's other Products and Services.

  • Competitive Dividends - dividends are paid quarterly based on the average daily balance for the quarter, on all accounts, with the exception of Share Certificates...they are paid monthly.

  • Federally Insured - for your safety and security, your cumulative balances of your deposit accounts are insured up to $100,000 by the NCUA, a U.S. Government Agency (IRAs are insured separately up to $250,000.)

  • Automatic Deposits - payroll deductions and direct deposits may be set up with your employer and Government agencies.

  • Consolidated Statements - are sent to members quarterly (monthly if you have a checking account.) Members are provided with a complete record of transaction activity and dividends earned on each account at the Credit Union.

NOTE: In accordance with the Truth In Savings Act, McKesson Employees' Federal Credit Union has disclosures available containing the terms, fees and dividend rate provisions for your account. To receive a copy, go to the applications tab above to view or print a copy.



EFFECTIVE 2018-09-21

Regular Share (Savings)

To be a member, you must be the first-named owner of a Regular Share Account with at least $25 on deposit. You'll earn a higher dividend rate as your balance grows.

Dividends are set by the Board of Directors, based on available earnings. Current dividend rates and annual percentage yields are published weekly. Individual Retirement Accounts are subject to additional IRS regulations.

Shares "Savings" Dividend Rate APY* Term
Regular Share ($25 - $2,499) 0.05 0.05 n/a
Regular Share ($2,500 - $4,999) 0.05 0.05 n/a
Regular Share ($5,000 - UP) 0.05 0.05 n/a
Checking 0.05 0.05 n/a
Club Share ($5 min. balance to open) 0.05 0.05 n/a
IRA Share ($25 min. balance to open) 0.05 0.05 n/a

*APY = Annual Percentage Yield

Member's accounts are insured by the National Credit Union Administration to $250,000.

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Checking & ATMs/POS or VISA Check Card

No Complicated Restrictions

Open your Checking Account we require NO minimum deposit. There are NO monthly service charges, NO per-item processing fees and NO minimum balance requirements. The Credit Union pays its members dividends earned on the average daily balance for the quarter.

Easy Deposits & More

You can make deposits at deposit-taking CO-OP ATMs, by mail or in person at our office or any share branch locations. Better yet, use the FREE direct deposit service and you'll save the time and hassle of waiting in line each payday.

Additional benefits:

  • Your checks are printed in duplicate for easy record keeping.

  • Your can set automatic Overdraft Protection from your Regular Share Account and/or approved line-of-credit.

  • Use CU Online this FREE Home Banking Service, you can access your accounts 24 hours a day 7 days a week, from any computer with Internet access. You can check balances, transfer funds, make loan payments, view and print cleared checks and much more.

  • Use the free 24-hour SmartLine service to obtain account information and conduct routine transactions via touch-tone phone anytime of day or night.

  • Free Internet Bill Pay with My CU Bill Paying.

Debit Card

As a Checking Account holder, you're eligible to apply for a free Debit Card, providing you with easy access to your checking and regular share account.

Our Debit card allows you to buy goods and services wherever you see the VISA logo worldwide. The amount of your purchase is deducted from Checking Account. (When using the check card at a point-of-sales terminal, press "credit", when given a choice, unless you want cash back. By doing so, you save the vredit union money.)

  • Withdraw up to $400 in cash per day at Plus, STAR System and CO-OP ATMs.

  • Make point-of-sales purchases of up to $1,500 per day

  • Make deposits at most deposit taking CO-OP ATMs.

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Special Purpose Club

It's the easy way to prepare for semi-annual and annual expenses (taxes, insurance, vacation, Christmas, etc.).
You can open as many "Club" Accounts as you'd like with as little as $5 each.

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IRAs

Contributory IRA & Roth IRA Share

With a $25 minimum deposit you can set up a Traditional IRA and/or Roth IRA, then make deposits throughout the year as your budget allows via Payroll Deduction, Direct Deposit, mail, or in person. Once your balance reaches $1,000, you can transfer funds to a high-yield IRA Share Certificate.

IRA & Roth IRA Share Certificates

Lock in a high yield for a specified investment term with our Share Certificates, Traditional IRA Share Certificates, and Roth IRA Share Certificates. The longer the term, the higher the return. Minimum deposits start at $1,000.

IRA Dividend Rate APY* Term
IRA & Roth IRA Share Certificates ($1,000 min. balance to open) 0.30 0.30 6
IRA & Roth IRA Share Certificates ($1,000 min. balance to open) 0.50 0.50 12
IRA & Roth IRA Share Certificates ($1,000 min. balance to open) 0.60 0.60 18

*APY = Annual Percentage Yield

Member's accounts are insured by the National Credit Union Administration to $250,000.

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Certificates

A well planned savings program can insure your present and future financial stability. And what better place to save and earn dividends from than McKesson Employees' Federal Credit Union?

Here's a solid fixed-term investment account for members who want to earn a higher rate of return and do not anticipate needing access to funds for a given amount of time. If you have a special long-term saving goal - like a home purchase or your child's college tuition, then a McKesson Employees' Federal Credit Union Share Certificate is the smart choice for you.

McKesson EFCU Share Certificate offers you:

  • Minimum deposit as low as $1,000.

  • Competitive dividend rates compounded and paid monthly. Dividends can be set up to pay directly to your certificate (and compound your earnings), or your share account for immediate availability.

  • You have the flexibility to choose maturity terms from 3 to 24 months.

  • Automatic roll-over at new rate for the same term at maturity. Or simply call a member service representative at maturity to change the term.

Share Certificates Dividend Rate APY* Term
2 - 3 Months ($2,000 minimum balance) 0.05 0.05 2
3 - 6 Months ($1,000 minimum balance) 0.10 0.10 3
6 -12 Months ($1,000 minimum balance) 0.20 0.20 6
12 - 18 Months ($1,000 minimum balance) 0.30 0.30 12
18 -24 Months ($1,000 minimum balance) 0.40 0.40 18
2 - 3 Months ($5,000 minimum balance) 0.10 0.10 2
3 - 6 Months ($5,000 minimum balance) 0.20 0.20 3
6 - 12 Months ($5,000 minimum balance) 0.30 0.30 6
12 - 18 Months ($5,000 minimum balance) 0.40 0.40 12
18 - 24 Months ($5,000 minimum balance) 0.50 0.50 18

*APY = Annual Percentage Yield

Member's accounts are insured by the National Credit Union Administration to $250,000.

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