Savings Accounts | Pelican State Credit Union

A credit union share account is just like a savings account, but with high-earning dividends. Our accounts give you more than a place to save—you get a place at the table. Join our financial family today for as little as $10!

What's the difference between a Primary and a Regular Share?

Primary and Regular Shares are essentially the same savings account with just a few simple differences:

A Primary Share represents your ownership of the credit union and is required to have a membership at Pelican. Only one primary share per member. Requirements start at a $10 minimum opening deposit ($5 membership fee + $5 minimum account balance).

A Regular Share is an extra savings account that you can have multiples of in addition to your Primary Share to track all of your savings goals separately. The only requirement is that you must first have a Primary Share.

Benefits (the same for both accounts):

Up to 1.05% APY¹
No monthly service fee
Tiered dividends paid quarterly on balances of $100.1 and above
3 free withdrawals per month ($5 per withdrawal thereafter)

Apply for Regular Share

Kasasa Saver

Link your checking and savings to start saving automatically!

All ATM fee reimbursements and rewards earned in your Kasasa Cash or Cash Back account will be automatically deposited into your Kasasa Saver account to help you save each month.

To earn your Checking and Saver rewards, complete these simple tasks in your checking account each monthly qualification cycle.

Be enrolled and receive FREE eStatement notice
Be enrolled and log into MyPelican
Have at least 15 debit card purchases post and settle
Have at least 1 direct deposit, online bill payment, or automatic payment (ACH) post and settle

Miss a month? You still save and you can try again the next month!

Look under "Bundles" when you apply to find Kasasa Saver!

Apply for Kasasa Saver

Team Pelican Youth Account

Get on the right path to financial success early—this free account is available exclusively to our youngest members, ages 17 and under.

Pelican State Credit Union's Team Pelican youth account gives our community's most impressionable members the right impression when it comes to managing money. Members 17 and under are exclusively eligible for this savings account that pays quarterly dividends.

BENEFITS

For ages 17 and under
Dividends paid on entire balance; credited quarterly
Get paid for good grades³
No monthly service fee
Learn how to save from an early age
Automatically converts to a regular savings account on 18th birthday
Open in conjunction with a Teen Checking Account

Open a Team Pelican Account

For kid-focused financial wellness resources such as videos, blog posts, and activity sheets, visit our For Kids page! It's full of fun for both parents and their kids as they begin their financial path with Petey the Pelican!

Visit For Kids Page

Freedom Shares

Choose a FREE savings account that will save you money on your Share Pledge loan!

When you pair a Freedom Share account with a Share Pledge loan of any amount, you can get the lowest interest rate possible from Pelican! By leveraging your collateral to get a lower interest rate, you can increase your saving power thanks to lower monthly loan payments.

Our Share Pledge loan interest rate is 1.5% APR higher than the Freedom Share dividend rate of 0.25% APY, which gives you a 1.75% APR on your loan. For example, for a $10,000 loan at a 5-year term, you would have a payment of $174.19 per month.

The interest rate for our Share Pledge loan is 1.5% APR⁴ above the Freedom Share dividend rate of 0.25% APY⁵, resulting in a combined loan APR of 1.75%. For example, if you take out a $10,000 loan with a 5-year term, your monthly payment would be $174.19.

ADDITIONAL BENEFITS

Quarterly dividends paid on balances over $1,000⁶
No monthly service fee
No minimum opening deposit or minimum balance requirement
Three free withdrawals per month; $5 each thereafter
FREE digital banking through our MyPelican app
FREE eStatements

Apply for Freedom Share

Christmas Club

Make Christmas that much merrier with the help of a savings account that lets you set aside cash throughout the year—and earn dividends!

Stay out of the red while enjoying a little extra green this holiday season. Christmas Club funds are paid out the first week of November—leaving you with plenty of time to shop, wrap, and swap. So Santa isn't left sweating it out in the winter cold. And since we're in the giving spirit, there's no minimum balance to earn dividends and no minimum deposit.

BENEFITS

Dividend rates far above national average
Earn dividends on entire balance
No monthly service fee
Save little by little throughout year
Funds disbursed first week of November, just in time for holidays
Or choose to keep funds in Christmas Club for next year
Penalty on earnings for early withdrawal⁷
Set up automatic transfers to help save
No minimum balance requirement
No minimum deposit to open

Apply for a Christmas Club

¹Pelican State CU membership required. If you are not a Pelican member, you must be eligible to open a Primary Share account with Pelican to become one. The deposit to open a Primary Share account starts at a minimum of $10 ($5 to join + $5 minimum balance). APY = Annual Percentage Yield. Rates and account features are subject to change at any time. Advertised APY of 1.02% is highest for Regular Share accounts and applies to accounts with balances of $100,000.01 and above. Shares with balances of $100.01 - $20,000 earn 0.65% APY, and shares with balances of $20,000.01 - $100,000 earn 0.80% APY. Primary and Regular Share account dividends are paid quarterly on balances of $100.01 and above. Dividends are forfeited if account is closed prior to dividend payment. Primary and Regular Share accounts allow 3 free withdrawals per month; a fee of $5 will be charged on each additional withdrawal. Pelican reserves the right to limit the number of accounts allowed per member, joint or individually. Other account transfer and withdrawal limitations may apply.

^{²APY = Annual Percentage Yield. Balances up to $150,000 in the Kasasa Saver account receive an APY of 2.12% if required service qualifications in the Kasasa Cash or Cash Back account are met each monthly qualification cycle. Balances of $150,000.01 and above receive an APY of 1.68% on the portion of the balance above $150,000 if qualifications in the Kasasa Cash or Cash Back account are met each monthly qualification cycle. As a result, the APY for balances above $150,000 will range from 2.12% - 1.68% if qualifications in the Kasasa Cash or Cash Back account are met each monthly qualification cycle, depending on the balance in the account. If qualifications in the Kasasa Cash or Cash Back account are not met, the APY will be 0.05% on all balances in the Kasasa Saver account. Monthly qualification cycle = last day of the month to the second to the last day of the next month. Monthly statement cycle = first day of the month to the last day of the month. Pelican reserves the right to limit the number accounts allowed per account owner, joint or individually.}

^³Pelican State CU membership eligibility required. Adult 18 years old or older must be a joint account holder on child’s Team Pelican youth savings account. To open an account, the joint account holder must provide a form of identification for themselves as well as a birth certificate and Social Security card for the child. Highest attainable grade on the report card pertains to each individual semester-end report card’s grading scale, including A, S (Satisfactory), and (O) Outstanding. Maximum of $35 per semester-end report card for Team Pelican accounts ($5 per A) and $70 per semester if the student also has an active Pelican Teen Checking account ($10 per A). Copy of official semester-end report card required. Report card must list account holder’s name, school name, and date or year to qualify for rewards. Only the student's most recent semester-end report card will be accepted. Report cards are accepted for either of the major semesters, such as May-end and December-end, or terms, such as spring or fall terms. December-end (or fall term) report cards can be cashed in until February 28 of the following year, and May-end (or spring term) report cards can be cashed in until July 31 of the same year.

⁴APR = Annual Percentage Rate

⁵APY = Annual Percentage Yield

⁶Dividends are forfeited if account is closed prior to payment.

⁷Dividends are forfeited if account is closed prior to payment. At least $10.00 must be available in the account at maturity to receive paper check by mail. If you wish to access the funds in your Christmas Club accounts, at any other time, we may impose a fee.