Build a strong foundation for your savings plan with your CFCU Primary Share Savings account. Savings accounts earn highly competitive dividends, which are proposed by the Board of Directors at the beginning of each month. Start saving for a more secure financial future today!
Earn dividends, which are compounded daily and paid monthly.
Rest assured because Savings accounts may be designated as overdraft protection for CFCU Checking Accounts.
Receive quarterly account statements.
Savings accounts can be designated as the following types of accounts:
- Uniform Transfer to Minors Act (UTMA), basically a custodial account.
- Trust accounts.
Only $25 is needed to open a Savings account, and minimum balance of $25 is required to maintain the account and to earn dividends.
Enjoy the flexibility of opening a free Sub-Savings account that can be used to save for anything you want. Put aside money for holiday gifts, vacations, large purchases, or even for major monthly expenses and enjoy the convenience of keeping track of these extra pockets of savings separate from your main Savings account.
The MySavings account is an inverted savings program offered to members 21 years old or younger with account balances of up to $1,000 will earn a rate of 6.77% (7.00% APY). What is an inverted savings account? In a traditional savings account, the higher the balance, the higher the rate of return. However, in an inverted savings account, the opposite holds true: the lowest balance tier receives the greatest yield.
Don't stand in line every payday just to deposit your paycheck. Instead, take advantage of CFCU's Direct Deposit service and save time by having your entire paycheck, less the usual deductions, automatically deposited into your Chevron Federal Credit Union account. Direct Deposit is a free service to all members.
IMPORTANT: Instead of just your member number, you must use your 14-digit CFCU account number (found in the MICR line of your CFCU check) to authorize electronic debits or credits to your account. Please click here to find out how to establish your 14-digit CFCU account number.
Direct Deposit Benefits
How Direct Deposit Works
- Your funds are available immediately, even if you can't visit a branch.
- You can immediately withdraw cash at any Chevron Federal Credit Union branch or any CFCU or network ATM each payday.
- You can start earning dividends sooner on your deposited funds.
- Your paycheck cannot be lost or stolen.
On your payday, your employer will provide you with a pay stub, and that same day, the amount of your paycheck, less the usual deductions, will appear on your CFCU member statement. If you ever need to verify a deposit, simply call our 24-hour Telephone Access Service or log onto PC Access. It's simple and easy.
Direct Deposit Information for Chevron Corporation Employees
Payroll Deduction Service
CFCU's Payroll Deduction Service lets you conveniently and automatically arrange to have specified amounts allocated from your paycheck to separate CFCU deposit, and loan accounts. With our Payroll Deduction Service, you'll:
- Never miss a loan payment.
- Maximize the amount you save with regular deposits to your savings, checking, IRA or other CFCU accounts.
- Conveniently be able to allocate your deposit among several CFCU accounts.
Master Account Agreement and Disclosure (PDF)
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