Basic Accounts | Cedar Point FCU (Lexington Park, MD)

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Basic Accounts

When you open an account at a credit union, you’re a member. Learn more about the types of accounts available to our members below.



When you become a member, a basic savings account comes with your Cedar Point membership. New members will receive a six digit account number when the account is opened. That number is your Member ID for all accounts, including your savings. In the credit union industry, we refer to our savings accounts as “share” accounts.

A $5.00 minimum deposit is required to open a basic share (savings) account. A competitive dividend rate is earned with an average daily balance of at least $100.00. You may open additional savings accounts (sub-share accounts) at any time. You will receive statements on your accounts, with dividends paying quarterly. Want to receive statements electronically? Learn more about eStatements.


For swift access to your money, sign up for a checking account. Cedar Point members have the ability to use a debit card to make purchases, write checks, and withdraw money at a branch or ATM, all using a checking account.

In the credit union industry, we refer to our checking accounts as “share draft” accounts. Why the difference? As a member, you have a share in the credit union. You’re not just a customer, you’re a partial owner. This is a key difference between a bank and a credit union. You may see references to share draft accounts in any credit union, and now you’ll know more about what it means.

Cedar Point does not charge a fee for basic share draft (checking) accounts, and there are no minimum balance requirements, or fees if your balance falls below a certain level. Regardless of the number of checks you write each month, you are not charged a fee for basic checking (there are service fees for stop payments, check copies, returned checks, overdrafts* and certified share drafts). With an average daily balance of $500.00 or more, your account will earn dividends while waiting for your checks to clear.


Rate information is accurate as of January 5, 2024.

Share Account
Account TypeAnnual Percentage Yield (APY)Dividend RateMinimum Balance to Earn APY
Prime Share 0.05% 0.05% $100.00
Sub Share 0.05% 0.05% $100.00
Christmas Club 0.05% 0.05% $100.00
ALF Share 0.05% 0.05% $100.00
Youth 0.05% 0.05% $5.00
Share Draft 0.025% 0.025% $500.00

Additional Account Options

Related Forms & Disclosures


Learn More about Membership

Open an Account

Learn More Open an Account

Debit Cards

Learn more about cards

Holiday Club

Cedar Point offers this unique account to help members save for anticipated holiday expenses. A Holiday Club account can be opened at any time, and deposits made any time throughout the year. This way, you won’t think about that money until holiday shopping rolls around. On the first business day in October, funds are automatically transferred to the sub-share you’ve designated, or a check can be mailed to the address on file. It is important to note that additional withdrawals are not permitted on a Holiday Club account. If a withdrawal is necessary, the account will be closed and cannot be reopened until the following Holiday Club season.

Please note that beginning with the next Holiday Club cycle from October 2023 to October 2024, Cedar Point will no longer mail out disbursement checks for Holiday Club accounts. To receive future Holiday Club funds, we will disburse the funds into your primary savings account or a sub-savings/checking account that you designate. These funds will be disbursed on October 1st each year, regardless of the day of the week. We apologize if these changes cause any inconvenience.

Savings Calculators

Cedar Point Financial Services, Inc. is a credit union service organization which was created to serve our membership and the local community. Visit the links below and explore some great savings calculators on their site.

Go Calculate


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