Deposit Insurance

All deposit amounts are 100% guaranteed. The Credit Union Deposit Guarantee Corporation guarantees the repayment of all deposits held in Alberta Credit Unions, including accrued interest. Deposit amounts include chequing and savings accounts, RRSP deposits, RRIF deposits, foreign currency deposits, and term deposits but does not include Common Shares.

Common Shares

These are required by everyone in order to be a member of Inglewood Credit Union. As set by our Board of Directors, each member is required to purchase 25 common shares valued at $1.00 each. Dividends are paid on these shares depending on the profitability of the Credit Union each fiscal year.

Participatory Savings

This account is the mainstay of our Credit Union. Tiered interest rates are available and calculated on the lowest monthly balance and paid quarterly. A balance of $50.00 must be maintained in this account in order to have any other type of account.

Plan 24 Savings

Another type of savings account. Interest is calculated on a daily basis and paid to your account monthly.

US Funds Account

U.S. Funds accounts are available to all members. These accounts have no service charges and pay no interest.

Term Deposits

The minimum term deposit amount for a 30 day term is $5,000.00. For all other term deposits a minimum deposit of $500.00 is required and are issued in increments of $100.00 thereafter. Term deposits are available in 90 day, 180 day, 1 year redeemable and 1 year to 5 year non-redeemable.

Interest earned can be paid to your account of choice or compounded.

RRSP's, RRIF's, RESP's and Estate Planning

Various plans and interest rates are available to our members. For more information please contact our office.