Savings Accounts

Savings Account

Just $5.00 opens your BRECO FCU Share account and establishes your lifetime membership and ownership in the credit union. Some of the benefits are:

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  • Dividends credited quarterly on average daily balances of $25.00.

  • Only a $5.00 minimum balance requirement.

  • No service fees or charges.

  • Convenient deposit through payroll deduction, direct deposit, and at over 5,000 Shared Branching /credit union service centers nationwide.

  • Convenient withdrawals through ATMs, Shared Branching service centers, and checks mailed to you.

  • Free 24-hour telephone banking (audio response): 225-273-1529 or 1-800-361-1631 option 1.

  • Free Internet Home Banking.

  • Free e-Statements.

  • Family membership.

Extended Insurance Account

PROTECT MORE OF YOUR CASH WITH AN AUTOMATED INSURED SWEEP SOLUTION

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• Expanded NCUA insurance coverage across participating Credit Unions
• Funds automatically allocated based on available balances
• One consolidated account for simple access and reporting
• No need to manage multiple banking relationships
• Convenient visibility through online banking (desktop or mobile)

Extended Insurance Account FAQs

Money Market

Get more flexibility with your savings by opening your money market account today!

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  • Earn higher dividends with more flexibility than a CD!

  • Dividends credited monthly on average daily balances of $2,500 or more

  • minimum $1,000 to open

  • No service fees or charges

  • Conveniently move funds through online banking (desktop or mobile app)

Vacation/Christmas Club Account

Enjoy your vacation or the holidays without worry. Deposit funds directly into your Vacation or Christmas Club account for easy saving. Estimate the amount of what you spent last year, divide by the number of months to save, and that is a good guess of how much you need to tuck away!

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  • At the appropriate time, a check will be mailed or the money can be transferred to your share account.

  • Money can be deposited anytime into the account or you can conveniently deposit through payroll deduction or set up an auto-transfer.

  • Dividends credited quarterly on average daily balances of $25.00.

Minor Share Account

This special youth account acts just like a regular savings account but is specially designed for young members.

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  • To join, you need to be age 17 or under.

  • Have a valid social security number and have a joint owner on the account (a parent or grandparent).

  • Each time a deposit is made, you can pick a prize!

  • Dividends credited quarterly on average daily balances of $25.00.

  • Parents can make deposits through payroll deduction or transfer online to account.

Extended Insurance Account FAQs

  • An Extended Insurance Account provides millions of extended NCUA insurance on your deposits by distributing your balances in amounts under the $250,000 threshold to partner credit unions in the ModernFi network. By placing funds under the limit, your entire balance can be insured by the NCUA. These accounts combine to provide you with extended insurance coverage.

  • If you have a large deposit, such as $1 million, you can place the full amount into an Extended Insurance Account with BRECO Federal Credit Union. Your funds are then automatically divided into amounts of up to $250,000 and distributed among participating credit unions in the ModernFi Network.

    For example, the first $250,000 stays with BRECO, while the remaining funds are placed with other network credit unions. Because each participating credit union provides up to $250,000 in NCUA share insurance per member, your entire deposit can receive extended NCUA insurance coverage.

    The best part? You only work with BRECO. There's no need to open or manage multiple accounts. You'll receive one consolidated statement, enjoy competitive interest rates, and have convenient access to your funds, all while benefiting from expanded NCUA insurance protection.

  • You control the account just like a regular transaction account. You can deposit, withdraw, or transfer funds at any time through a dedicated Member Portal. BRECO Federal Credit Union and ModernFi manage and oversee your allocation, ensuring funds are distributed to demand deposit accounts within the network.

  • Getting started is simple. Open your Extended Insurance Account online, give us a call, or stop by your nearest BRECO Federal Credit Union branch. Once your account is open, you'll have access to the Member Portal to view your statements and fund allocations whenever you need them.

  • ModernFi is a network of credit unions that BRECO Federal Credit Union has joined to help better protect your balances by distributing funds across partner credit unions to offer extended NCUA share insurance.