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, Bonus Share Accounts, etc.
There is a $1.00 service charge to open an account, and a $2.00 service charge for joint accounts.
Members should always have proper identification (Membership Card, Employee ID Card and/or drivers license) with you when you stop by the office to make transactions or to pick up checks.
Member Identification Program (MIP): 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 your name, address, date of birth and other information that will allow us to identify you. We will also ask for a copy of your drivers license or other identifying documents.
For the Quarter ending March 31, 2016 the following dividends have been declared
Regular Shares, Christmas & Vacation
- $0 – $249.99: -0-
- $250.00 & $10,000.00: 0.10% APY*
- $10,001.00 & Up: 0.12% APY*
* annual percentage yield-(APY) means a percentage rate reflecting the total amount of dividends expected to be earned in a year on an account, based on the dividend rate and the frequency of compounding accrued dividends.
FEES can reduce the earnings on the account.
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.
- Stop Payment Fee: $40.00
- Return (Bounced) Check Fee: $40.00
- ACH Non-Sufficient Funds: $40.00
- Duplicate Lien Release or Release Letter: $15.00
- Duplicate Statement or duplicate 1099: $15.00
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
* First Two Hundred Dollars available after the first day of deposit
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 can continue their direct deposits into the Credit Union. Deposits are credited upon receipt of the confirming facsimile.
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 $2 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 $40.00 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 $2.00 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.
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, you may leave your account open, but there is a $10.00 service charge each time you withdraw money. Now is a great time to join Christmas Club. Stop by the credit union for details. Remember, we do not mail Christmas Club checks, they must be picked up.
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. Just think if you begin in October saving $10.00 per pay over the 26 weeks, you will end up with $260.00 plus interest at the end of September If you save $50.00 per pay, you will receive a check for $1300.00 plus interest. This may vary slightly, depending upon your employer’s pay cycle.
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. It is never too late to open a Christmas or Vacation Club Account.
A Vacation Club is a great way to save for vacations or other special occasions. Two withdrawals are allowed without fees.
Bonus Savings Accounts
The Credit Union offers a BONUS SAVINGS ACCOUNT. THIS ACCOUNT PAYS AT A MUCH HIGHER DIVIDEND RATE.
As of 12/31/15 by maintaining a minimum balance $10,000.01 for one calendar year you could receive an interest rate of 0.65% APY annually*.
As of 12/31/15 by maintaining a minimum balance of $5000.01 for one calendar year you could receive an interest rate of 0.18% APY annually.*
ANY WITHDRAWALS MADE WILL FORFEIT ANY ACCRUED DIVIDENDS AND ACCESS AN $75.00 EARLY WITHDRAWAL FEE.
*INTEREST COMPOUNDED ANNUALLY-INTEREST IS SUBJECT TO CHANGE BASED ON THE FINANCIAL SITUATION OF THE CREDIT UNION. INTEREST RATES ARE NOT GUARANTEED.
*Annual percentage yield-(APY) means a percentage rate reflecting the total amount of dividends expected to be earned in a year on an account, based on the dividend rate and the frequency of compounding accrued dividends.
Stop by to join today!