Share Savings Account

Watch your savings grow as you earn higher rates.
Open an Account

Benefits of Bowater Credit Union Share Savings Account

Grow your savings securely while earning returns on your deposited money. Our feature-rich share savings accounts offer many benefits, including:

Earn Interest

Enjoy competitive interest rates to help your savings grow faster.

No Monthly Fees

Keep more money in your account without paying annoying fees.

$5 to Open

Begin your savings journey with just five dollars.

Federally Insured

Gain peace of mind knowing the NCUA insures your account for up to $250,000.

Everything to Know About Our Share Savings Account

Open a Share Savings Account and set the foundation for a secure financial future. Each deposit you make builds your savings steadily over time.

Here are the top features of our Share Savings Account:

  • You open a Share Account when you join the credit union
  • Dividends accrue daily, credited to your account quarterly
  • Earns interest (see rates)
  • $5 minimum opening deposit
  • $5 minimum balance requirement
  • No fees
  • Attractive annual percentage yields (APY)
  • No limits on deposits and withdrawals
  • Provides free overdraft protection for your checking account
  • Up to $250,000 in NCUA insurance
A man does research on his laptop about the benefits of share savings accounts.

How to Apply for a Share Savings Account


Join our Family

Review our membership criteria and then fill out an application online or in a branch.

Deposit $5 A fiver is all it takes to open an account and become a member.
Start Saving! Regularly deposit money and watch your savings grow!


Everyone is so friendly and very helpful…I love it there, that’s why I picked it for my bank.
– Kim B., Calhoun, TN

FAQ About Credit Union Savings Account

What is a Share Savings Account?

A share savings account allows you to securely deposit and withdraw funds while earning a higher interest rate on balances. Common features include:

  • Members can withdraw in person, via ATM, by check, or electronically.
  • Share accounts make members partial owners of the credit union.
  • They tend to have minimal or no fees compared to banks.
  • Interest rates on balances are typically higher than those at traditional banks.
  • Some accounts offer overdraft protection for linked checking.
How often does interest get compounded?

Interest is compounded daily and credited to your account quarterly. This allows your savings to grow faster.

Do I need a large deposit to open an account?

Not at all. A modest $5 deposit is all it takes to open a Share Savings Account and become a credit union member.

Is my money secure?

Yes, your savings are well-protected at our financial institution. The National Credit Union Administration (NCUA) federally insures and safeguards deposits up to $250,000.

How often can I withdraw money from my share savings account?

You can withdraw money from your share savings account anytime. There are no deposit or withdrawal limits at Bowater Credit Union.

Other Quality Savings Options

Christmas Club Savings Account

Start saving for a joyful holiday with our Christmas Club Savings Account! Enjoy peace of mind and stress-free holiday spending!

Term Share Accounts (CDs)

Reach your saving goals with our Term Share Accounts (CDs)! Lock in competitive interest rates and watch your money grow.

Ultra 25 Term Share Account

Achieve financial growth with our 25-month term share account. Choose between a regular CD or IRA, and make partial withdrawals without penalty.