When you become a member of Cooperative Federal, the first step is to open a savings account. These savings accounts are also called "shares" because they represent your shared ownership of the credit union. The minimum deposit is just $5, and your $5 share in Cooperative Federal makes you an owner and a member, not just an account number. Basic savings earn dividends on an average monthly balance of $50 or more, posted at the end of each quarter.

If you've had issues with a savings or checking account in the past, don't worry. Start Over accounts help you access a safe place to keep your money and rebuild a solid track record. To help you along the way, you can even get a free financial counseling session.

Learning how to save prepares young people for a secure financial future. Help your children build positive habits and watch their money grow. Read more about Treehouse Kids Accounts and YouThrive Student Accounts.

Looking for higher dividend rates? Cooperative Federal's Super Share is a federally insured Money Market savings account that offers higher dividend rates than basic savings. A $2,500 minimum balance is required to open a Super Share account, and dividends are earned on an average daily balance of at least $2,500.

Saving for something special? Secondary Shares help you reach specific savings goals. Set up a Holiday Account, Vacation Account, College Savings Fund, or any other savings need. You can even give this account a motivational custom name! Make it your Trip to Costa Rica Account, your Car Down Payment Account, or your Rainy-Day Fund.

There is no limit to the number of Secondary Shares you can open. Terms for secondary savings are the same as for basic savings with no minimum balance to start.

If you want to opt out of earning dividends on your savings, Omega Accounts may be the right choice for you. These interest-free accounts are often used by people who do not wish to earn dividends for religious or philosophical reasons.