The regular share or savings account is the basic account for membership in the Credit Union. The first thing that you open when you join the Credit Union is this account. All other accounts are subaccounts. To be a member in good standing, you must have at least $5 on deposit in your regular share account.

The regular savings account should also be the basic account for a member’s financial health. Although we have checking accounts that pay interest, checking accounts usually pay only nominal interest. What we encourage our members to do is to direct a portion of their paycheck directly into their savings account on a regular basis. When the savings account starts to accumulate to a point where there are substantial sums, direct money into IRAs, certificates of deposit, (CDs) or even into the other financial instruments. Financial planners normally recommend that a person have at least 6-12 months’ worth of expenses in a readily accessable fund. That is known as a “rainy day ” fund to cover expenses in the case of illness or loss of employment.

The money you have deposited into your regular savings beyond the $5 minimum is always available to you. All you have to do to get access to it is to use your Cajun Cash(R) ATM card or access it through, our internet banking feature. Of course, you can always call one of our friendly tellers directly. We will do a reasonable numbers of transfers to other subaccounts.

All accounts at First Pioneers Federal Credit Union are covered for loss up to $250,000 by the NCUA, a US Government Agency.