The Membership Share Account is an important first account as it provides access to all other CSFCU services and conveniences. CSFCU member/ownership is established with your Membership Share Account. One “share” of ownership – a low $50 minimum balance – must remain on deposit at all times to qualify you as a member. Membership Share Accounts earn competitive dividends which are paid quarterly. And, the more you save, the higher your dividend rate.
Once a Member, always a Member! Benefits of CSFCU membership will always be available to you and your family no matter where life takes you. Relocating to a new area? No Problem! Changing jobs? The Credit Union goes with you. Retiring? We’ve got your back then, too. Our commitment to your financial well-being is truly a lifelong promise.
Your funds are insured. The National Credit Union Administration (NCUA), an agency of the federal government, insures funds deposited at CSFCU up to $250,000.
You may deposit to your savings account with cash or check or electronically using ACH through your primary financial institution, (more details on ACH here). Employees of Cedars-Sinai Medical Center automatically set up the most convenient way through payroll deduction upon opening a regular shares account with CSFCU. Payroll deductions are posted to your account on the following Tuesday after 12:00 p.m. There will be a 2 day hold on deposits made with personal checks. Under certain circumstances, longer delays may apply. We will notify you if we delay your ability to withdraw funds, and we will tell you when the funds will be available.
You may withdraw funds from your savings accounts by receiving a check from the Credit Union either in person or by mail. You may have someone else pick up a check for you by calling ahead, and the person must also be a member of the Credit Union or a joint member on your account.
Since your account is designed for systematic savings, withdrawals are limited. You are permitted one withdrawal per calendar month. Each withdrawal in excess of one per month will be assessed a charge of $10, $5 for excessive ACH withdrawal in a calendar month.
You must maintain a balance of $50 in your regular share account at all times. Failure to do so will result in a service charge of $5 per quarter for each quarter the account is below the required amount. Accounts with no activity for 12 months will be considered dormant, and will be subject to a quarterly Dormant Account Fee of $10. Please see our Fee Schedule.