MEMBER SHARE ACCOUNTS

Dividends Paid on Deposit Accounts
 

Share Savings
A share account establishes your membership with the credit union. The minimum deposit
to open a share account is $5.00.  Members are required to keep a minimum balance of $5.00
on deposit in their share account.  This represents ownership one $5 share in the credit union.

Dividends are posted quarterly and are calculated using the average daily balance computation
method   A complete disclosure on the terms and conditions pertaining to your credit union
accounts will be given to you at the time your share account is opened.

Holiday Club
A great way to save for holiday expenses!  Club balances are transferred to either your credit union checking account or share savings account on October 1. 
New accounts can be opened October through December. No withdrawals are allowed from this account; however, the account may be closed at any time during the year.

Vacation Club
You deserve a reward from working hard all year, so why not plan for the time of your life!  
Vacation clubs can be opened at any time during the year.  Funds are accessible throughout the year--whenever you choose to vacation.  Withdrawals are limited to 6 per quarter.

Millionaire's Club
This account is for the serious saver!  It  pays above market yields and dividends compound 
monthly to give you maximum savings.  The annual percentage rate is currently indexed to the 
Thirteen Week Treasury Bill and will adjust monthly.

There are no minimum balance requirements and no minimum withdrawal amount restrictions.
The number of withdrawals per year is limited to six. 
Deposits are restricted to new money coming into the credit union. 
Maturing Share Certificates qualify for deposit.
This account is an ideal way to save for your child's future. Millionaire's Club
accounts can be opened for children and teen club accounts.

Individual Retirement Accounts
Your commitment to start saving for retirement is as easy as calling our Member Services 
Coordinator to open an IRA account.  It's easy to understand the importance of saving money 
with an IRA account, especially if you're eligible for tax deductions, tax-deferrals, or even tax free earnings.  All three types of IRA accounts are available: the Traditional, the popular Roth; and the Educational, an excellent way to save for your child's  college education.

Your IRA options have been greatly improved by the Economic Growth and Tax Relief 
Reconciliation Act of 2001.  Call our office for brochures that detail expanded contribution limits 
and "catch-up" contributions for workers 50 and older.
Top

CHECKING ACCOUNTS

Americans Spend
Unnecessarily on Bank Fees

According to a fee report released by the Consumer Federation of America (CFA), consumers 
spend more than $25 billion a year just on checking and bank card fees, more than $250 per 
household.  At a press conference in Washington, D.C., CFA Executive Director Brobeck 
announced that "Credit unions almost always charge lower fees than banks--sometimes by a considerable amount."
 

Why Pay More?
A checking account does not have to be expensive!

A First State Federal Credit Union checking account offers convenience, easy access
to funds, no balance requirements, unlimited check writing (no per-check fees), overdraft
protection, no charge for first order of checks, 24/7 account information through Virtual Branch,
direct deposit and/or payroll deduction.  Free checking is offered to our young members to age 23,
 to members 55 and over, and to members who maintain a balance of $500 or more.

Members having an active checking account qualify for the following discounts on loan rates:

• .25% discount on home equity loan rates with sign-up for auto-pay from checking
• .50% discount on new and used vehicle loan rates (100% financing available)
  

Members with checking accounts always receive the following services with no fees attached:

Visa Travelers Checks
Notary Service
 

Visa Check Card

Our Visa Check Card allows you worldwide access to your checking account funds
wherever you see the Visa/PLUS symbol--at over 11 million merchant locations and
at any of the 174,000 Visa/PLUS Network ATMs, and 314,000 financial institutions.

ATM Access

First State Federal Credit Union is a participating member of the Allpoint Network of ATM’s.  Allpoint offers over 32,000 surcharge-free ATMs nationwide (all 50 States).  The ATMs are located in many major retailers (e.g. Target, Costco, Giant Food, Albertsons, etc.)  Look for the Allpoint logo on the ATM.  A web-based ATM locator service can be found at http://www.AllpointNetwork.com.

SHARE AND IRA CERTIFICATES

OTHER BENEFITS AND SERVICES

Direct Deposit 
Payroll Deduction
ACH/Wire Transfers
Visa Travelers Checks
Certified Checks
Home Banking
On-Line Bill Pay
On-Line Check Reorders
On-Line Visa Account Access
Day/Night Depository
Audio Response 
Quarterly Newsletter
Annual Auto Sale
$2000 AD&D insurance coverage at no cost
Sam's Club Membership
Theme Park Discount Coupons
Notary service
and
Nationwide Auto Insurance (premium discount)
 

Kent County's Community Credit Union
Your Financial Partner...Putting Members First