Save With Us

WHERE YOU PUT YOUR MONEY MATTERS.

Deposit Accounts

Is your money supporting your values? At Clean Energy Credit Union, when you open a savings account or Clean Energy CD, your federally insured deposits are used to help other members afford to use clean energy. This, in turn, will help to protect our environment and improve our economy. No other financial institution puts your money to work quite like that.

We’re excited to begin offering checking accounts by the start of 2019, but in the meantime, we hope you'll open a savings account at Clean Energy Credit Union while retaining a checking account at your current primary financial institution. You'll be able to easily transfer funds between your accounts at Clean Energy Credit Union and other financial institutions via free ACH transfers on your computer or mobile device.

Terms

  • $5 minimum balance
  • No monthly maintenance fees
  • Higher interest earned for higher balances
  • Up to six transactions per month (as per federal regulatory requirements)
  • Online/Mobile banking access
  • Free ACH transfers to/from your accounts at other financial institutions

Click here to learn more about our rates and terms.

Frequently Asked Questions (FAQs)

How do I join Clean Energy Credit Union?

Clean Energy Credit Union, like all credit unions, is required to have a “field of membership,” which can be loosely defined as a common association or affiliation among its members. Clean Energy Credit Union’s field of membership consists of:

  • Members of the American Solar Energy Society (ASES), a 501(c)(3) non-profit organization (both individuals and organizations);
  • Members of the immediate family or household of an ASES member or an existing credit union member; and
  • Employees and volunteers of Clean Energy Credit Union.

In other words, in order to become a member of the Credit Union, one must first join ASES or have an immediate family or household member who has already joined either ASES or Clean Energy Credit Union. An individual membership in ASES currently costs $39, and not only gains you entry to the Credit Union, but supports a longstanding advocate for the advancement of solar energy. Click here to learn more about ASES, or visit their website at ases.org.

After confirming your eligibility, you would then open a "share account" (i.e. savings account) with a $5 minimum deposit which would serve as your ownership share in Clean Energy Credit Union. Once someone becomes a member of the Credit Union, they are an eligible “member for life.” Click here to join Clean Energy Credit Union.

Are my deposits federally insured?

Because we are a federally chartered credit union, all deposits will be federally insured up to the allowable limits (e.g. up to $250k per person or per organization). This makes opening a savings account or buying a "clean energy CD" far less risky than any other kind of investment in the clean energy sector. Furthermore, with low minimum investment thresholds, regular people—not just big financiers—will be able to leverage their dollars to support clean energy through safe, sound investments.

All deposits in Clean Energy Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF). According to Wikipedia: “[The NCUSIF] is administered by the National Credit Union Administration (NCUA) for the purpose of providing deposit insurance to protect deposits of credit union members at insured institutions in the United States. It was created in 1970 shortly after the creation of the NCUA as an independent regulator of credit unions. The NCUSIF is funded completely by participating credit unions, and no taxpayer dollars have ever been used to bail out a credit union. The NCUSIF is backed by the full faith and credit of the United States government.”

Am I required to maintain a minimum balance in my savings account?Yes, you are required to maintain a $5 minimum balance in your account.

What is an ACH transfer?

An ACH transfer refers to any electronic movement of money between different financial institutions that goes through the Automated Clearing House (ACH) network, one of the biggest U.S. payment systems that has been around for almost 40 years. ACH transfers are commonly used for online bill pay, and direct deposit, and transferring funds between financial institutions. For example, PayPal and Venmo, both use the ACH network. ACH transfers are more convenient and less expensive than wire transfers, which typically incur fees both the sending and receiving financial institutions.

Since Clean Energy Credit Union isn’t initially offering checking accounts, we’re hoping that you’ll move your savings account to Clean Energy Credit Union while retaining your current checking account. You would then be able to easily transfer funds between your accounts in Clean Energy Credit Union and your other financial institution via a free ACH transfer on your computer or mobile device.

Is there a cost and/or a time delay when conducting an ACH transfer?

At Clean Energy Credit Union, ACH transfers are free for members. They are also typically free for at other financial institutions. However, it can take 1-3 days for transferred funds to be received and available for withdrawal.

When will checking accounts, ATM cards, mortgages, and other services be available?

Clean Energy Credit Union is currently planning to offer the following products and services by 2019:

  • Checking accounts
  • ATM cards
  • Credit cards
  • Loans for home energy efficiency improvements
  • Mortgages for net-zero energy or energy efficient homes
  • Home equity lines of credit

We also plan to offer loans for other clean energy products and services such as bicycles, electric-assist bicycles, geothermal heat pumps, and so on, but the timeline is currently unknown. We may be able to accelerate this timeline if incoming donations to the Credit Union exceed projections, thereby allowing us to invest in new staff, capacity, and infrastructure.

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Can I set up automatic bill payment from my savings account?

Currently, no, but this is a feature that we plan on adding in the future.

Do you offer an app for my mobile device?

Yes, you can access your accounts from any computer or mobile device. You can search for the app, “Clean Energy Credit Union,” on your app store.

How often are account statements sent out?

If you only have a savings accounts or a Clean Energy CD, account statements are sent out at the beginning of each quarter. If you also have any loan activity, a CD that is maturing, or a checking account (coming soon), statements will be sent out at the beginning of each month.

What is the Credit Union’s policy for paper vs electronic account statements?

We strongly discourage paper account statements for two reasons: (1) protecting the environment is an important part of our mission, so wherever possible we try to reduce the use of paper as well as the need for shipping and transportation; and (2) Clean Energy Credit Union emphasizes a lean business model so that we can pass through the savings to our members in the form of better interest rates.

That being said, if you absolutely must have paper account statements, you can still sign up for them at the cost of $7 per statement.

If I need help with my accounts, can I get in touch with a real, live person?

Yes, you can either click on the “Chat” bottom at the top and bottom of each page on our website, or you can call us at 999-999-9999.

How are online/mobile banking transactions kept secure?

Our vendors and software for online/mobile banking functionality are among the best in the credit union industry, and they work with hundreds of credit unions throughout the U.S. In addition to providing us with secure software platform, they also host our servers and keep them secure. In addition, regardless of which vendors and software we use for our online/mobile banking activities, all deposits in Clean Energy Credit Union are federally insured up to $250k per person and per organization.


Click here to see more FAQ’s

Are you looking for a long-term investment opportunity that directly supports clean energy and the environment? Our Clean Energy CDs are similar to U.S. Treasury Bills or municipal bonds in that they’re low-risk, income-generating investments; however, Clean Energy CDs have a uniquely positive impact on our environment and economy by helping other Credit Union members afford to use clean energy – and they’re federally insured.

Details

  • 10-year term
  • $1,000 minimum balance
  • Interest is paid monthly
  • No maintenance fees
  • Rates are intended to be similar to a 10-year U.S. Treasury Bill

Click here to learn more about our rates and terms.

Frequently Asked Questions (FAQs)

How do I join Clean Energy Credit Union?

Clean Energy Credit Union, like all credit unions, is required to have a “field of membership,” which can be loosely defined as a common association or affiliation among its members. Clean Energy Credit Union’s field of membership consists of:

  • Members of the American Solar Energy Society (ASES), a 501(c)(3) non-profit organization (both individuals and organizations);
  • Members of the immediate family or household of an ASES member or an existing credit union member; and
  • Employees and volunteers of Clean Energy Credit Union.

In other words, in order to become a member of the Credit Union, one must first join ASES or have an immediate family or household member who has already joined either ASES or Clean Energy Credit Union. An individual membership in ASES currently costs $39, and not only gains you entry to the Credit Union, but supports a longstanding advocate for the advancement of solar energy. Click here to learn more about ASES, or visit their website at ases.org.

After confirming your eligibility, you would then open a "share account" (i.e. savings account) with a $5 minimum deposit which would serve as your ownership share in Clean Energy Credit Union. Once someone becomes a member of the Credit Union, they are an eligible “member for life.” Click here to join Clean Energy Credit Union.

Are my deposits federally insured?

Because we are a federally chartered credit union, all deposits will be federally insured up to the allowable limits (e.g. up to $250k per person or per organization). This makes opening a savings account or buying a "clean energy CD" far less risky than any other kind of investment in the clean energy sector. Furthermore, with low minimum investment thresholds, regular people—not just big financiers—will be able to leverage their dollars to support clean energy through safe, sound investments.

All deposits in Clean Energy Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF). According to Wikipedia: “[The NCUSIF] is administered by the National Credit Union Administration (NCUA) for the purpose of providing deposit insurance to protect deposits of credit union members at insured institutions in the United States. It was created in 1970 shortly after the creation of the NCUA as an independent regulator of credit unions. The NCUSIF is funded completely by participating credit unions, and no taxpayer dollars have ever been used to bail out a credit union. The NCUSIF is backed by the full faith and credit of the United States government.”

What is the minimum amount required to open a Clean Energy CD?

$1,000

Do you offer Clean Energy CDs with terms shorter than 10 years?

No, not currently, but in the future we are considering the possibility of offering shorter terms on our Clean Energy CDs. Our current term is 10 years for the following reasons: (a) we want to lock in sufficient deposits at longer terms that resemble those of clean energy loans (as clean energy projects tend to require interest rates that are fixed over a longer period of time); and (b) in this current low-interest environment, we wanted to offer long-term clean energy investment products that could pay a higher yield than short-term products.

How are interest payments made on Clean Energy CDs?

Interest payments are made on a monthly basis and are automatically deposited into your Clean Energy Credit Union savings account.


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