ELGA Credit Union is For Your Best Interest

Savings Products

Savings Products

Earning you more with our savings accounts 


 

Share Savings Account


The start of becoming an ELGA Member.

 

This savings account is your key to enjoying all of ELGA Credit Union’s many products and services. The first $5 of your deposit is designated as your membership share of ELGA and opens the door to financial independence.

Features:
  • Dividends paid quarterly on balances over $200.00

  • ATM card access - Direct Deposit availability

  • Access account through any of our branches, XpressLink, 30,000 ATMs, EZ Access Line Telephone Banking, and 5,000 Shared branches all over the U.S.

  • Federally Insured by NCUA

Requirements:

  • Identification, Minimum of $10 ($5 Membership Share Deposit and $5 Membership Fee)

ELGA Elite High Yield Savings

 

Want to make the most of your savings and still have access to it? Then the ELGA Elite High Yield Savings accounts are for you! The higher the balance you maintain in your account, the higher the dividend rate you will earn. For each level of savings balance you achieve, you will earn the higher rate of interest automatically!  No worries if your balance should drop, you will earn the rate for next lower tier.  For as little as $1,000 you can begin saving at a higher yield!

 

Features:

  • Dividends paid quarterly
  • Receive a higher, market sensitive rate
  • Have immediate access to your funds
  • No penalties for withdrawal, no maturity dates
  • Payroll deduction and direct deposit available
  • Federally Insured by NCUA

Requirements:

  • Must be an ELGA member
  • Minimum balance required to earn higher yields
  • If your balance falls below $1,000 the rate will revert to the Regular Savings Rate. 
  • Only 6 electronic transactions each month

Current Rate Structure:

Please click here for the most current PDF of our rates

Save to Win Account


Start saving and you could start winning

 

Save to Win is a special certificate of deposit that works similar to a savings account at ELGA that helps you build savings while also giving you chances to win monthly, quarterly, and annual cash prizes! Every $25 deposit into this certificate helps build your savings and gives you another chance to win - up to 10 chances every month. Plus, all the money you deposit into the Save to Win account is yours with interest!

 

Features:

  • The chance to win monthly, quarterly, and annual prizes

Requirements:

  • Must be 18 years of age or older
  • A legal resident of the State of Michigan
  • An ELGA member in good standing with a traditional share account

Take the Save to Win Survey
Click to read the full Save to Win rules and see the prize structure
Certificate of Deposit (CD)


Save for long-term gain

 

You can open a CD for as little as $1,000 and earn a higher rate than regular savings. This is ideal for future expenses such as college, weddings, retirement or big vacations.

Features:

  • Dividends paid quarterly
  • Receive a higher rate market sensitive rate for a guaranteed period of time
  • Dividends can compound on the CD or be transferred to another savings or checking
  • Keeps your funds out of reach until maturity
  • Automatic rollover at maturity if you choose
  • Federally Insured by the NCUA

Requirements:

  • Must be an ELGA Credit Union Member
  • Minimum deposit of $1,000 (no maximum)
  • Early redemption penalty

Click for Current CD Rate Structure


Looking to save for something or someone special? We have accounts to help kids learn about saving, for adults to work on their credit, and for that special occasion or purchase.


ELGAsaurus Savings Club
It is never too early to learn and understand the importance of saving for the future. The ELGAsaurus Savings Club is a great way to teach kids to save money! When you open an ELGAsaurus Savings Club for your children or grandchildren, you are teaching them how rewarding and fun it is to save their money.

Features:

  • Dividends paid regardless of balance
  • Direct Deposit available
  • ELGAsaurus punch card: child receives 1 punch for each $5.00 the child deposits into their account.  Cards can be redeemed for an increase in balance when card is full.
  • Automatic transfer to or from other ELGA accounts.
  • Access account information through EZ Access Line Telephone banking.

Requirements:

  • Child must be 8 years of age or younger and qualify for membership
  • Must have parent or guardian on account

 

High 5 Savings Club

ELGA believes in your goals and financial future.  When you open a High 5 account for your child or grandchild you will help them develop good savings habits and goal-setting skills so they will learn that they can work for and eventually get what they want.

Features:

  • Dividends paid regardless of balance
  • Direct Deposit
  • High 5 Goal Tracker- 5 stages to goal achievement. Child will receive reward for each completed stage of goal.
  • Automatic transfer to or from other ELGA accounts
  • Access account information through EZ Access Line Telephone banking

Requirements:

  • Child must be 9 – 13 yrs of age and qualify for membership
  • Must have parent or guardian on account

Pledge Savings

 

Helping to re-establish your credit

Let ELGA help you establish or re-establish credit! Set aside money in a Pledge Savings account and get an ELGA Pledge VISA. All you need is to deposit $100.00 more than the credit limit you desire and you can receive your new VISA. With limits starting as low as $300, you can start improving your credit right away! Don’t want or need a VISA? You can also use the Pledge Savings account for a personal loan to build your credit. Our lending team is ready to answer all of your questions and help you get started.


Features:

  • Dividends paid quarterly
  • Allows you to re-establish credit or establish credit without a cosigned
  • Lower loan rates
  • Federally Insured by NCUA

Requirements:

  • Must have $100 more on deposit than the credit limit desired for VISA card or loan

Christmas Club


Take some of the stress out of the holidays

It’s always the season to save for Christmas. Set up an ELGA Christmas Club account and have a convenient way to set aside money for all your holiday needs. The money you save will be transferred to your savings account on October 1st for your shopping convenience. Start saving for the holiday today!

 

Features:

  • Payroll deduction or direct deposit available
  • Automatic transfer from other ELGA accounts
  • Choose how much you want to deposit
  • No minimum balance requirement
  • Access account information via EZ Access Line telephone banking and XpressLink Online Banking.

Requirements:

  • Must be ELGA member
  • Funds held until October 1st

Special Purpose Savings


Saving for those special occasions


Use ELGA’s Special Purpose accounts to help you save for those special occasions. This is a great way to save for a vacation, hunting trip, wedding, or down payment for a home or car.

Features:

  • Dividends paid quarterly on balances over $200.00
  • Can be opened any time of year
  • You choose how much and how often you want to deposit
  • No minimum balance requirement
  • Auto transfer available from any account
  • Payroll deduction and direct deposit available
  • Federally Insured by NCUA

Requirements:

  • Regular Share Savings


Contact Us

Call us at (810) 715-3542

 

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Product Resources

 

Rate & Fee Disclosure

 

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