Savings

Whether you’re attempting to save for a short-term goal or a long-term project, we have the right savings account to fit your needs.

From starting your membership at Greylock to socking away money for a special holiday, we have the savings account options that will help you pursue your dreams. Our savings accounts let you earn dividends while keeping your money available for planned and unexpected withdrawals. And your savings are safe at Greylock— shares are insured by the NCUA, a U.S. government agency.

Questions about the best savings account to choose for your situation? Give us a call or visit. We’re happy to help!

Savings Account Options

Primary Share

A Primary Share Account is a requirement for Greylock membership.

We refer to a savings account as a Share Account. Your first Share Account with us, is called a Primary Share Account.

  • Only $5.00 is needed to open a Primary Share Account.
  • A balance of $15.00 or more will earn you dividends.
  • Only one Primary Share Account per member permitted. For additional savings, choose another Share option.

Open your membership account

Share Savings

We refer to a savings account as a Share Savings Account

This Share Savings Account is perfect for saving for that something special!

  • Only $5.00 is needed to open a Share Account.
  • A balance of $15.00 or more will earn you dividends.
  • Multiple Share Savings accounts are permitted.

Open a share savings account

Share Preferred

A Share Preferred Account gives you the ability to earn more interest as your balance grows.

While maintaining access to your money, or cash liquidity. a Share Preferred Account allows you to earn interest at a higher yield than a Primary or Share Savings Account.

  • A deposit of $15.00 is required to open the Share Preferred.
  • A balance of $2,500.00 is required to maintain the Share Preferred rate*
  • Your money remains liquid in the Share Preferred.
  • Balances that reach $100,000.00 or more earn a higher dividend rate.

*If rate falls below $2,500.00, the standard Share rate applies.

Open a share preferred account

Holiday Club

The Holiday Club Account is the perfect way to save for the costly holiday season.

Through payroll deduction or other regular deposits, money will be saved over the course of the year. Funds become available in early October giving you plenty of time to shop for gifts or plan a winter vacation.

  • A $5 minimum balance is required to open and maintain the Holiday Club Account.
  • No monthly service fee.
  • Payroll deduction is an effortless, systematic way to save.
  • Available from October 1st of the current year to September 30th of the following year.
  • Withdrawals from the club account prior to maturity (September 30th) are not permitted. If a withdrawal is necessary, the account must be closed and re-established on or after the following October 1st.

Open a holiday club account

Savings Account Rates

Minimum Balance to Earn APY Dividend Rate APY1Go to footnote 1 Alert Me
Primary Share/Share Account/Kids Share $15.00 0.05% 0.05% Receive a notification when this rate changes
Share Preferred Account $15 to $2,499 0.05% 0.05% Receive a notification when this rate changes
$2,500 to $99,999 0.10% 0.10% Receive a notification when this rate changes
$100,000 or more 0.25% 0.25% Receive a notification when this rate changes
Holiday Club Account $15.00 0.15% 0.15% Receive a notification when this rate changes
Daily balance computation method - Dividends are calculated by the daily balance method which applies a periodic rate to the daily balance in the account for the period. The daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.
  • 1APY = Annual Percentage Yield. Rates subject to change. Rate effective date as-of date listed. Dividends are compounded daily and credited monthly. See account disclosure for full details

Deposit Insurance

Your shares in the Credit Union are federally insured by the National Credit Union Share Insurance Fund (NCUSIF), an arm of National Credit Union Administration (NCUA). Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the NCUSIF is managed by NCUA under the direction of the three-person NCUA Board. Your share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC).

Read more about deposit insurance