Insured Savings and Certificates

H & E Telephone FCU is federally regulated by the National Credit Union Administration (NCUA), an agency of the federal government. The National Credit Unio Share Insurance Fund (NCUSIF), which is managed by NCUA, backs the savings of credit union members up to $100,000 per account. Members have peace of mind knowing that their money is backed by the full faith and credit of the US Government.

The NCUSIF is widely recognized as the best managed of all federal deposit insurance funds, better than the programs that insure banks or savings and loans. While taxpayers paid billions to bail out savings and loans, not one taxpayer dollar has over gone into the credit union insurance fund.

H & E requires a $25 minimum to maintain a savings account. Interest is paid on all balances above $50. H & E attempts to pay rates above average rates at banks, and rates are examined and may be changed quarterly. Interest is compounded daily and credited quarterly to accounts on January 1, April 1, July 1 and October 1.

Certificates of Deposit (CDs) are issued in a minimum of $1000. H & E offers 6 month and 12 month CDs with interest compounding daily and posting quarterly. Our 2 year and 3 year CDs pay simple interest posted at maturity.