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Insurance

Some of our most valued products and services are the numerous accounts available. Member funds in these accounts are insured up to $250,000 per individual depositor, coverage that is guaranteed by the United States government through the National Credit Union Share Insurance Fund (NCUSIF).

All dividend earning accounts utilize the average daily balance computation method, which applies a daily periodic rate to the average daily balance in the account for the period and divides that figure by the number of days in the period. The period we use is calendar month.

This formula is approved by the Truth-In-Savings Act which became effective January 1, 1995 for federally insured credit unions. The regulation is only one of many with which financial institutions must comply. Detailed and important information on others, such as Regulation CC (funds availability, check holds), Regulation D (limitations to certain transactions), and Regulation E (electronic funds transfers), in addition to Truth-In-Savings is provided elsewhere in this brochure.

Savings Accounts - Dividends are compounded and posted monthly. Must maintain minimum average daily balance of $200.00 to earn dividends. Minimum balance requirement is $5.00.

Sub Savings Accounts - Dividends are compounded and posted monthly. Must maintain minimum average daily balance of $200.00 to earn dividends. No minimum balance requirement.

Sunshine Club Accounts - Available to children up to age 12. Dividends are compounded and posted monthly. No minimum average daily balance required to earn dividends. No minimum balance requirement.

Christmas Club Accounts - Dividends are compounded and posted monthly. Must maintain minimum average daily balance of $200.00 to earn dividends. Account balance automatically disbursed via check 1st week of November. No minimum balance requirement.

Checking Accounts - Dividends are compounded and posted monthly. Must maintain minimum average daily balance of $500.00 to earn dividends. No minimum balance requirement, no monthly service charges, and no per-item or per-transaction fees on personal accounts. Automatic overdraft coverage available from Savings account(s) and/or Overdraft Protection Loan (if qualified).

In addition to our basic Checking account, we offer other special accounts:

Silver Sentry - Available to members age 50 and up. Includes unlimited free checks, free money orders, free cashier’s checks, free stop payment orders, and free small safe deposit box for one year and/or 10% discount on all safe deposit boxes sizes.

Teen - Available to children ages 12 to 17. Adult(s) required to be joint on account. Includes free first box of checks.

Business & Organizational - Tax Identification Number required. Monthly service charge of $5.00 for basic account.

Individual Retirement Accounts (IRA) - Dividends are compounded and posted monthly. Must maintain minimum average daily balance of $200.00 to earn dividends. No minimum balance requirement.

Savings Certificates - Numerous term options available. Dividends paid monthly. Dividend posting options available: compounded to account, posted to different account, disbursed by check. Minimum balance requirement is $1,000.00.

IRA Certificates - Numerous term options available. Dividends paid monthly. Dividend posting options available: compounded to account, posted to different account, disbursed by check (non-compounding of dividends may be considered an IRA distribution). Minimum balance requirement is $1,000.00.

Certain transaction restrictions, fees and/or service charges may apply to accounts described above. Please refer to information provided elsewhere in this brochure for all related, specific account information and requirements.