FAQs

 

What’s so special about credit unions?

Unlike other financial institutions, Credit Unions are owned and run by its members. Members make up the Board of Directors, who manage and elect the officers to handle the business and operation of the Credit Union. Members make up the Supervisory Committee which makes sure the Credit Union is run correctly.

Are you getting the idea that it’s the members who make the Credit Union special? That’s absolutely right! Our members are joined together by a common bond and we will serve only our members. There are no outside stockholders – all net earnings after expenses are paid out to our members in dividends. That means your savings grow faster.

Is my money safe?

Absolutely!! Federal Credit Unions are chartered under the terms of the Federal Credit Union Act and supervised by the National Credit Union Administration (NCUA). Each member’s savings are insured to the full legal limit by the National Credit Union Share Insurance Fund (NCUSIF).

Can the credit union take care of all my needs?

For many people, yes. We offer a full line of deposit services – share “savings” accounts, share draft “checking” accounts with VISA Check Card access, Christmas Savings, Wage Tax Savings, Youth Shares “savings”, VISA Credit Card etc. We also offer ATM Placement Services, Credit Card Processing and Business Funding Solutions.

We also offer many types of loans – for cars, boats, home improvements, vacations and more. Plus, you’ll appreciate our low interest rates!

Your Credit Union has three main functions:

  • Help you save regularly
  • Loan money at fair interest rates
  • Keep fees at a minimum for you, the member

Why not visit our credit union and see if the Credit Union has the answer to your financial needs?

Additional Information

Membership with the Credit Union does not terminate if a member is transferred or changes employment.

All accounts are insured by the National Credit Union Administration (NCUA) up to $250,000.

Dividends are paid quarterly. The dividend rate is calculated on the Credit Union earnings for that quarter. A 1099 Form will be submitted to the IRS annually if dividends exceed $10.00. The dividend rate is competitive with area rates.

Quarterly statements are prepared and sent to each member along with our quarterly newsletter. Share draft “checking” statements are prepared and sent monthly.

Credit life Insurance and/or Accident and Health (disability) will be offered with loans for eligible members at their expense.

The rate of interest charged on loans is reviewed on a regular basis and is kept in line with the area lending rates.