Savings

CSE offers the following savings accounts for your convenience:

Share Savings—Establish membership with CSE when you open a Share Savings account.  Get started for only $5!

Youth Savings—It’s never too early to start saving for their future.


Share Savings

Our Share Savings account establishes membership and part ownership of CSE Federal Credit union with a $5 minimum opening deposit. Receive higher monthly dividends than you would at most banks, no minimum balance required.  Membership eligibility required.

Share Savings Features:

  • Earn higher dividends than most banks — paid monthly
  • No minimum balance to earn dividends
  • ATM Card usage
  • Free CSE Online banking
  • Free Mobile Banking
  • Free eStatements
  • Free security and fraud protection
  • Unlimited in-person withdrawals
  • Join CSE Federal Credit Union today with a $5 minimum deposit to open

Youth Savings:

With a custodial account, established under the Louisiana Uniform Transfers to Minors Act, you can start saving for a child’s future, today.

UTMA: The Trust Fund Alternative.  CSE offers accounts protected by the Louisiana Uniform Transfers to Minors Act (UTMA).  UTMA accounts can help you avoid some of the expense and complications associated with establishing a formal trust.  While a custodian must be designated to protect the account while the youth is underage, the funds become an irrevocable gift when the recipient reaches the legal age of 18.  Custodian is responsible for closing the account and distributing the funds.

Under the Louisiana Uniform Transfers to Minor Act, the funds in the account are owned by the child who has unconditional use of the account when he or she reaches the age of majority.  Before that time, the account may be accessed only by the custodian, and the funds must be used for the benefit of the child.  CSE Federal Credit Union, however, has no duty or agreement whatsoever to monitor or assure that the acts of the custodian are for the child’s benefit.  For this type of account, the child’s SSN/TIN is used for the Backup Withholding Certification.

Benefits:

  • Minor cannot withdraw funds without custodian
  • Earns compounded dividends and paid monthly
  • Only $5 required to open

Christmas Club Account:

It’s never too early (or late) to open your CSE Christmas Club Account. The holidays will be here before you know it and you will want to be ready. A Christmas Club Account provides an easy and convenient way to save for all of your holiday expenses.

MINIMUM BALANCE

The minimum required balance to open and maintain the account is $25.00.  Thereafter, there is no minimum deposit required.

DIVIDENDS

Dividends will be paid on this account at the same rate as regular shares, (reference the Truth In Savings document on the Disclosure page of this website).  The account will begin to accrue dividends on the business day that the deposit is made.  Dividends will be calculated on the average daily balance and will be compounded and paid monthly.

WITHDRAWALS

No withdrawals will be allowed prior to the distribution date.  If account is closed prior to the distribution date a $25.00 fee will be imposed.

DISTRIBUTION OF FUNDS

Funds will be distributed to a Regular Share Account in October of every year.

RESTRICTIONS

This account cannot be used as collateral on any loan account.

Remember, small amounts saved regularly can add up to a sizeable sum. Here are some helpful tips to boost the savings in your CSE Christmas Club Account:

  • Set up a payroll deduction
  • Determine a budget and make weekly or monthly deposits into your Christmas Club Account
  • Use Direct Deposit
  • Try CSE’s FREE Online Bill Pay through CSE Online and set up a schedule to pay your bills on time and save a little extra on the late fees

The way we look at it, Christmas comes once a year, so it’s best to enjoy it without worrying about your finances. Open a CSE FCU Christmas Club Account* and prepare yourself for the holiday season!


Contact a CSE Member Service Representative 337.477.2000 or 337.625.5747 for additional information.

Apply for Membership Online

Minors’ Accounts – Read about Uniform Transfers to Minors Accounts (UTMA)