| ACCOUNT INFORMATION: |
| SHARE ACCOUNT |
This is a regular savings account with a minimum balance of $25.00. Statements for this and all of our accounts are mailed quarterly. |
| MONEY MARKET ACCOUNT |
The required balance for this account is $2500.00. This is a liquid account and may be drawn down to the minimum with no penalty imposed. If you go below the $2500.00 minimum the funds revert back to your regular share account. |
| TRADITIONAL IRA |
Maximum deposit is $5,000.00 per year. Under certain conditions your deposit may be tax deductible. The interest earned is tax deferred until withdrawn. |
| ROTH IRA |
Maximum deposit is $5,000.00 per year. These are post tax funds and if the requirements are met there are no taxes due upon withdrawal on principal or interest. |
| COVERDELL ESA |
$2,000.00 per year per child may be deposited into this type of IRA. No taxes are due at withdrawal if the funds are used for education. |
| SHARE DRAFT ACCOUNT (CHECKING) |
Our share draft accounts have no minimum balance and no monthly charges. We offer overdraft protection and monthly statements. ACH fund transfer is available with your Credit Union accounts; direct deposit, social security and NEBF deposits, utility, insurance payments etc. can be automatically deposited or deducted from your share draft account. We have a 60 Plus plan where we supply our regular checks at no cost to members 60 years of age and older. Dividends are paid on checking accounts with an average daily balance of $1000.00 or more. |
| STAR - a debit card |
Accepted in STAR, HONOR and PLUS machines as well as point of sale purchases. |
| VISA - a debit card |
Accepted anywhere on the VISA system for purchases or cash advances as well as anywhere your STAR card will work. |
| BILL PAYMENT |
Through our partnership with I-Pay Technologies we offer a convenient, low cost, bill payment option that links directly to our home banking platform. Pay an unlimited number of bills each month for just $1.00. Click here to find out more. |
| LOANS: |
| SIGNATURE |
An unsecured loan. Borrower must maintain 10% of the unpaid balance to a maximum of $500.00 in their share account. |
| CO-MAKER |
A signature loan co-signed by another credit union member the co-maker can be held responsible for the payments if the loan becomes delinquent. |
| NEW CAR |
The new vehicle must be an "A" title. The Credit Union will finance up to 100% of the value of the vehicle to a maximum of $40,000.00. |
| USED CAR |
We have 3 categories of used vehicle loans, 1 to 3 year old vehicles and 4 to 6 year old vehicles, which require 10% down with a maximum of $30,000.00 loaned. 7 to 10 year old vehicles which require 20% down. |
| COLLATERAL |
Pledged share, money market or CD accounts. |
| SIGNATURE LINE OF CREDIT |
This is an open end loan. The maximum loan amount is $5,000.00. 10% of the line of credit maximum must be maintained in your share account for this type of loan. Advances may be taken at any time up to the maximum. |
| RECREATIONAL VEHICLES |
We offer loans for non-auto/truck motorized vehicles either new or used. Down payment of 10% on new recreational vehicles and 20% on used recreational vehicles up to 6 years old is required. Recreational vehicles 7 to 10 years old require a 30% down payment. |
| HOME EQUITY |
We offer a 5 year and 10 year fixed rate home equity loan and a 15-year variable rate open end home equity line of credit. |
