We are in a time in this country where we now spend more than we save, as a society!  Credit Unions were designed with certain ideals that members come together and pool their resources so that better returns can be given on their hard-earned savings.  The Food Lion Credit Association believes in nothing different.  By pooling members’ savings from around the country in many different states, we are able to give you better rewards for your choice to entrust your savings with us.

Share Accounts

What’s a share?  It’s what you own in your credit association.  By opening an account with Food Lion Credit Association you “buy a share.”  That means that you are now able to engage in any of the Credit Association’s other products and services.  Opening a share account is easy and only requires $25.00 and a one-time $2.00 membership fee.  In order to remain a member in good standing, your account must maintain at least $25.00 at all time; however, it is a savings account and therefore we encourage you to keep as much as you can in it!  Deposits can be made through the office, by payroll deduction, or through the mail.  Withdrawals may be made at any time.  Dividends, or interest, are paid four times a year and are reflected on your account statement sent after the end of each calendar quarter.  The dividend rate is determined each quarter by the Board of Directors.  Come and see our current rates!

Money Market Shares

A Money Market Share Account is another type of savings account that offers a higher paid dividend for keeping a higher balance.  A minimum balance of $500.00 must open the account and at least $500.00 must be in the account to earn the monthly dividend.  You can access the funds in a Money Market Share Account as often as you like with no fee or penalty.  Dividends are paid on the last day of every month and are calculated using the account's average daily balance for the month.  The dividend rate paid is higher than the membership share account and lower than the share certificates.  To open an account, simply contact us and we will send you the signature card to get started.

Share Certificates

Certificates are specific amounts of money invested for a specified amount of time.  Various rates and terms are available to suit your needs.  The minimum balance to open a certificate is $500.00.  Dividends are paid four times a year and based on the account's average daily balance for the three-month period.  Dividends can be added to the certificate or paid into a separate share account if you like.  Certificates are automatically renewed unless you let us know of other intentions.  You will receive a notice of renewal reminder approximately one month before the date.  Once a certificate is opened, additional deposits are not allowed, except on the actual renewal date.  Withdrawals can only be performed from dividends already earned and posted to the account. 

Should you need to close a certificate an early withdrawal penalty will be charged.  If the certificate is for six months or one year, 30 days of dividends will be charged.  If the certificate is for two years, 90 days of dividends will be charged.  For current rates on our Share Certificates, please click here!

Your Credit Association works hard to maintain the highest rates that we can offer you.  Please let us know if we are not meeting your individual investment needs so that we can pursue options for you.  We want to be your first investment source!