A $5 deposit opens your primary share savings account — and your ownership stake in a credit union that has served the Eglin AFB community since 1954. Every dollar earns dividends from day one, compounded monthly and backed by full NCUA federal insurance.
At a commercial bank, a savings account is a liability the bank owes you. At Eglin Federal Credit Union, a share savings account represents your ownership share in a financial cooperative. The $5 minimum deposit is your par value — the buy-in that makes you a member-owner with voting rights, access to all products, and a claim on the credit union's net income distributed as dividends. That distinction matters because it aligns the institution's incentives with yours. There are no outside shareholders extracting profits. Surplus earnings flow back into better rates, lower fees, and improved services for the people who actually use them.
Eglin FCU offers six savings account types, each structured around a specific goal — from baseline liquidity and emergency reserves to holiday spending, vacation planning, youth financial literacy, and deployment-period wealth accumulation. All share accounts are federally insured by the National Credit Union Administration up to $250,000 per member per ownership category.
Six share account options covering everyday liquidity, goal-based saving, and military-specific needs.
Every Eglin FCU membership begins here. The $5 opening deposit earns dividends calculated daily and credited monthly. There is no monthly maintenance fee, no minimum balance beyond the $5 par value, and no cap on deposits. The primary share account serves as the foundation for all other credit union services — checking, loans, certificates, and digital banking all flow from this single membership account.
Members can set up automatic transfers from checking to build savings passively. The account is accessible through online banking, the mobile app, ATMs, and in-branch transactions. For military members receiving combat zone tax exclusion pay, the primary share account is often the first staging point before allocating funds to higher-yield certificates or money market tiers.
Members who want to separate funds by purpose — emergency reserve, car fund, home down payment — can open multiple secondary savings accounts under the same membership. Each secondary account earns the same dividend rate as the primary share and carries no additional fee. Naming each account through online banking makes it straightforward to track progress toward individual goals without comingling funds.
The holiday club account accepts deposits year-round and automatically distributes the accumulated balance to your primary share or checking account on November 1, giving members a pre-funded holiday spending reserve without credit card debt. Vacation savings works the same way with a member-selected distribution date. Both accounts earn dividends on the growing balance throughout the accumulation period.
Youth savings accounts introduce financial habits early. A parent or guardian serves as joint owner, and the account earns standard share dividends with no monthly fee. Eglin FCU provides age-appropriate financial literacy materials and periodic incentive programs — small deposit bonuses for reaching savings milestones — that make saving tangible for younger members. At age 18, the account transitions seamlessly to a standard primary share savings.
Available exclusively to members on active-duty deployment orders, this account offers an elevated dividend rate during the deployment window. Service members deployed to combat zones often accumulate significant savings from tax-exempt pay, hazardous duty supplements, and reduced living expenses. The deployment savings account channels those funds into a higher-yield vehicle without requiring the member to lock money into a certificate with early withdrawal penalties. Proof of deployment orders is required to open. Upon return, the balance and any accumulated dividends transfer to a standard secondary savings account.
Rates, minimums, and features for every Eglin FCU savings tier.
| Account Type | APY | Min. Deposit | Monthly Fee | Key Feature |
|---|---|---|---|---|
| Primary Share Savings | 0.25% | $5 | $0 | Membership foundation; dividend from day one |
| Secondary Savings | 0.25% | $5 | $0 | Goal-based sub-accounts; unlimited number |
| Holiday Club | 0.25% | $5 | $0 | Auto-distributes Nov 1 for holiday spending |
| Vacation Savings | 0.25% | $5 | $0 | Member-selected distribution date |
| Youth Savings (0–17) | 0.25% | $5 | $0 | Joint with parent; financial literacy program |
| Deployment Savings | 1.50% | $25 | $0 | Elevated rate during active deployment |
APY = Annual Percentage Yield. Rates effective as of April 2026 and subject to change. Dividends calculated daily, credited monthly. Deployment Savings requires valid deployment orders.
The minimum deposit is $5 for a primary share savings account. This $5 is your par value share — it establishes membership and earns dividends from day one. Secondary savings, holiday club, and vacation accounts also open with $5. Deployment savings requires $25.
Dividends are calculated daily on the collected balance and credited to the account monthly. The rate is set by the board of directors and reviewed quarterly. Unlike bank interest, credit union dividends represent your share of the cooperative's net income.
Yes. Youth savings accounts are available for members aged 0 through 17 with a parent or guardian as joint owner. The account carries no fee, earns standard dividends, and includes financial literacy resources. At 18, it transitions to a standard primary share savings account.
A special share account for active-duty members on deployment orders, offering an elevated 1.50% APY during the deployment period. It recognizes the savings potential from combat zone tax exclusions and reduced expenses. Proof of orders is required; the account converts to secondary savings upon return.
Yes. All share accounts are federally insured by the National Credit Union Administration up to $250,000 per member per ownership category. Joint accounts, trust accounts, and IRAs each qualify for separate coverage. NCUA insurance carries the full faith and credit of the U.S. government.
Explore other Eglin Federal Credit Union accounts and services.
Tiered dividends up to 4.15% APY with check-writing access and NCUA insurance.
Lock in up to 4.75% APY on terms from 3 to 60 months with guaranteed returns.
Free military checking with no fees, ATM rebates, and early direct deposit.
Return to the Eglin Federal Credit Union homepage for a full overview of services.
Eglin FCU