Account Information for New Members of our Credit Union

A minimum balance of $5.00 is required in your Regular Account in order to be considered a member and to obtain any of the privileges of being a member, such as Loans, Vacation Club, Christmas Club, Travelers Checks, etc.

There is a $1.00 service charge to open an account, and a $2.00 service charge for joint accounts.

Dividends
For the Quarter ending September 30, 2008, the following dividends have been declared

Regular Shares, Christmas & Vacation

$0 - $249.99		-0-
$250.00 & $10,000.00		0.45% APR
$10,001.00 & Up		0.55% APR

* annual percentage rate
** annual percentage yield
***fees may reduce earnings on accounts

Always have proper identification (Membership Card and/or Employee ID Card) with you when you stop by the office to make transactions or to pick up checks.

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means to you?? When you open an account we will ask for a drivers license, date of birth and other information.

Deposits: In addition to the payroll deduction, deposits may be made into your account at any time. Just stop by the office to deposit cash, checks or money orders. Checks and money orders may be mailed to the office for deposit. Please include a deposit slip. A receipt will be handed to you for in person deposits and mailed to the address on file for mailed in deposits.

Fees

Stop Payment Fee: $35.00
Return (Bounced) Check Fee: $35.00
ACH Non-Sufficient Funds: $30.00
Duplicate Lien Release or Release Letter: $10.00
Duplicate Statement or duplicate 1099: $10.00

Availability of Funds

Generally, funds will be available based upon the following schedule

Cash----------------------------------------------------------------Same Day
Direct Deposit--------------------------------------Friday after Pay Day
Local Checks--------------------------------------------2 Business Days
Other NYS Checks-------------------------------------4 Business Days
Out-of-State Checks-----------------------------------5 Business Days
Government Checks--------------------------------Next Business Day
Sisters Hospital Employee FCU Checks----------------Same Day

Sisters Hospital Employees FCU is now capable of taking a direct deposit from any payroll. This means that CHS employees or employees who have left the member employer can continue their direct deposits into the Credit Union. Deposits are credited upon receipt of the confirming facsimile.
Sign up today!

Regular Savings:

Opening a Regular Account establishes you as a member of the Credit Union.

You can stop by during our regular office hours and make a withdrawal for $25 or more from your Regular Shares Account. There is no charge for your 1st 12 withdrawals each calendar year. There is a $1 service charge for withdrawals #13, 14 and so on. Checks will be mailed to the address on file. This is provided as a courtesy and is not recommended. If the check is not received and the member requests duplicate check, there will be a $35.00 stop payment fee will be charged to the member before a duplicate check is issued.

The minimum withdrawal is $25.00

Twelve (12) free withdrawals may be made during one calendar year. There is a service charge of $1.00 for each additional withdrawal. The fee is waived for members with loans in good standing and/or members with a Regular Share balance of $1,500 or more.

But I am not on site
Even though we do not recommend it, as a courtesy, we can send a check to the address we have on file. Depending on your mail service, this could take up to five business days to reach you. Also, it makes it very important that you keep your records with us up-to-date.

Vacation Club:

Vacation Club may be opened at anytime, with any amount.

The minimum withdrawal is $25.00.

You may withdraw twice during the calendar year without fees. Additional withdrawals may be made with a service charge of $5.00 each. A withdrawal that brings your balance to zero does not automatically close your account. You may continue to deposit into this account until you indicate that it should be closed.

Christmas Club:

Christmas Club begins with the first pay period in October and ends with the last pay period in September. An account may be opened at any time during the year.

Should you need to withdraw the funds before October, there is a $10.00 service charge and the account is considered closed. You may reopen the account in October.

Christmas club distribution is usually scheduled for the second pay in October during our open house. Watch for the date this year.

Bonus Savings Accounts!

The Credit Union offers a BONUS SAVINGS ACCOUNT
This account pays at a much higher dividend rate.
As of 12/31/07 by maintaining a minimum balance of $10,000.01 for one calendar year you will receive an interest rate of 2.75% annually*.

As of 12/31/07 by maintaining a minimum balance of $5000.01 for one calendar year you will receive an interest rate of 2.10% annually.*

***Any withdrawals made will forfeit any accrued dividends and access a early withdrawal fee.

*interest compounded annually

It is never too late to open a Christmas or Vacation Club Account.

A Christmas Club is a great way to save for the holidays. They generally run from the first pay date in October until the last pay date in September.

This may vary slightly, depending upon your employer's pay cycle.

A Vacation Club is a great way to save for vacations or other special occasions. Two withdrawals are allowed without fees.

Stop by to join today!