(718) 806-1519 • info@everestfcu.org • 37-51 75th Street, FL 1B, Jackson Heights, NY 11372

Savings (Shares) Accounts

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Everest Regular Share Account

Depositors/Members can buy one share in $25 dollars and entrance fees of $25 dollars. Regular share account holder can participate in EFCU voting process and run for the board elections and serve in various committees.

Account Features

  • Account holder becomes a member (owner) of the EFCU
  • Deposit and withdraw money
  • Right to a vote and run for the governing body
  • Dividend is paid for the average balance maintained into the account once dividend is declared

Everest Minimum Balance Share

Only regular members can open this minimum balance account. The dividend is paid upon declared.  This share account will have the following features:

Account Features

  • Minimum balance is $1,000 and maximum balance can be up to $3,500
    (minimum 40 shares to maximum 140 shares)
  • To eligible for dividend, minimum balance to be maintained in this account
  • Committed amount to be deposited within 10 months
  • This account is open for all members on first come first serve basis and until closed by the EFCU

Everest Savings Accounts

Based on members’ saving habits and their financial requirements, they can open various saving accounts. These saving accounts are designed to build members’ saving habits and earn interest/dividend. 

Kids Savings

This account is designed to deposit kids’ piggy bank money. It has attractive interest rate so that kids can fund their account for the purpose of their educational or other purposes.

  • Available only to the minors
  • After they turn 18 years old, they should transfer the fund to other eligible accounts
  • Receive interest rate of 3.25% if held more than three consecutive years
  • Initial interest rate will be based on EFCU’s short-term CD rate
  • No Minimum balance required

Youth Savings

This account is created to benefit students. This will provide attractive interest so that students can fund their accounts for their educational needs.

  • This account will be available only for students
  • Once they finish college bachelor’s degree, they should transfer fund to other eligible accounts
  • Initial interest rate will be based on EFCU’s short-term CD rate
  • There will be interest rate set 3.25% if held more than 3 years
  • No Minimum balance required


Individual Retirement Accounts (IRAs)

This account is a retirement saving account through IRA funding where members may fund pretax dollars that may help them to get tax saving and get retirement credits as well.

Traditional IRA

Members may contribute earnings in traditional IRA and deduct the contribution in tax return.  These earnings can potentially grow tax-deferred until a member withdraws in retirement.

Roth IRA

Members may contribute after-tax earnings, which will be tax-free after retirement. There may be no taxes when withdrawing money from Roth IRA after retirement

CD (Certificate of Deposit) Accounts

Members are eligible to open Certificate Deposit (CD) account to earn higher interest rates. 

Account Features:

  • Maturity terms – 1 year, 2 years, and 4 years
  • Interest rate range – 1 to 3 percent based on time hold
  • Minimum deposit at least – $100
  • Longer term CDs will get higher interest rates
  • The “Himalaya Capital” CD is a 4-year fix deposit CD
  • Introductory Interest rate is 3.00% on the Himalayan Capital CD
  • This CD requires $1,000 face deposit and available in first come first serve basis
  • This CD receives interest rate higher than the market rate