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Who can join Lion Credit Union?
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Who Can Join?

Membership in Lion Federal Credit Union is open to current or retired employees of Sponsoring Employers.

Immediate Family Members Can Also Benefit

Immediate family members of current credit union members also qualify to join the credit union. Immediate family includes:

  • spouse
  • mother, father
  • stepmother, stepfather
  • father-in-law, mother-in-law
  • son, stepson
  • daughter, stepdaughter
  • brother, half brother, stepbrother, brother-in-law
  • sister, half sister, stepsister, sister-in-law
  • son-in-law, daughter-in-law
  • grandmother, grandfather, grandchildren
  • adopted children, foster children

Any member who leaves the employment of a sponsoring company for any reason may retain their membership provided the established criteria is met and retention is approved by the Board of Directors.

How Can I Join?

A membership application card is filled out applying for one share for at least $25.  This is NOT a fee to join.  It is an investment (saving) in the Credit Union and makes you a member.

Available Share Accounts

Regular - This is an account which has one or more shares.  Dividends are paid as set by the Board of Directors.  Statements on all accounts are mailed quarterly.

IRA - Individual Retirement Account.  Deposits may be made direct or via payroll deduction.  Investments in IRA's are put into shares and the Interest is paid quarterly at a higher rate than regular shares.  Interest is tax deferred and many members qualify for income tax benefits.

Christmas Club - This type of account may be opened at any time, even though the regular year begins in November with checks being sent on or about November 1st of each year.  Withdrawal prior to the annual disbursement date will close the Christmas Club account for that year.

Share Certificate - Structured like certificates of deposit, these instruments allow the member to lock in interest rates over a specific period of time.  The minimum amount for a certificate is $2,000 and they can be purchased for terms of up to 36 months.

Share Drafts - This account is a credit union checking account.  The minimum opening limit is $100 and there is no fee for the account.  Deposits may be made in person, by mail, by direct deposit and through payroll deduction.  They are federally insured up to $250,000 by the National Credit Union Administration (NCUA.) Credit Union accounts are priced less and have fewer fees than at other financial institutions.  Statements are mailed out monthly for this account.

Become a Sponsoring Employer

Lion Federal Credit Union would appreciate the opportunity to expand its base of membership. Membership is open to those companies whose employees work in or are paid from the El Dorado, Arkansas area. Our sponsoring companies agree to setup a payroll deduction program for those employees who wish. All potential employer groups are subject to Board of Director and National Credit Union Administration approval.  Please contact a credit union staff member for additional information.

(870)863-4335 |
©2007-2008 Lion Federal Credit Union
1580 Hayneville Hwy | El Dorado, AR 71730
Phone: (870) 863-4335 | Fax: (870) 863-4370