Each Pacific Advantage Federal Credit Union member is a shareholder in the organization because when you save here you're actually purchasing shares of ownership in your Credit Union.

Because you're a shareholder who shares in the profit, we call our regular savings account a SHARE ACCOUNT. This is similar to a bank "passbook" account because you can deposit or withdraw any time. (However, unlike a bank we have no stockholders to pay. We only pay dividends to our members, who are the shareholders.)

Our regulations have established a $25.00 minimum to open an account (and we encourage it as the minimum for payroll deductions). Once you have become a member and have authorized a certain amount to be deducted from your paycheck, there is nothing further to do but watch your shares accumulate. Of course, you may also deposit lump sums to your SHARE ACCOUNT in addition to your automatic deductions.

For our members who want a higher-yield savings plan, we offer SHARE CERTIFICATES that pay rates based on U.S. Treasury Bill rates. These are, generally, 6 month SHARE CERTIFICATES and as with any time account there is an interest penalty for early withdrawal.

Pacific Advantage Federal Credit Union also ofters CHRISTMAS SHARE ACCOUNTS for members who wish an easy way to save for the holiday season. The CHRISTMAS SHARE ACCOUNTS earn the same dividend rate as our SHARE ACCOUNT.

And finally, Pacific Advantage Federal Credit Union offers IRA ACCOUNTS for those members who want a tax-deferred savings plan and tax shelter. An IRA ACCOUNT helps the Pacific Advantage Federal Credit Union member to accumulate funds for retirement. Contact the Pacific Advantage Federal Credit Union office for further details.

Quarterly Statements
Each quarter, Pacific Advantage Federal Credit Union will send you a statement reflecting the balance in your accounts. The statement will indicate all deposits, withdrawals and dividends paid on the share accounts. The dividends are determined by the amount of net income the Credit Union realizes (from interest on loans) for the particular quarter. While the percentage rates are subject to change, Pacific Advantage Federal Credit Union prides itself for offering very competitive dividend rates.