SOME COMMON QUESTIONS ASKED ABOUT THE CREDIT UNION

1) WHO RUNS THE CREDIT UNION?

A nine member Board of Directors elected from the membership, have the general direction and control over affairs. It sets the policy under which the office and commitees operate. A Supervisory Commitee is responsible for at least one annual audit of our Credit Union records. This is in addition to our annual Federal examination. The Board and Supervisory Commitee recieve no compensation for their service.

2) HOW ARE DEDUCTIONS POSTED TO MY ACCOUNT?

Your deductions are posted to your vacation and savings accounts by the 20th of every month. If you have payroll deduction, loan payment is posted to your share savings account and the loan payment transferred on the 24th of every month.

3) DO I HAVE TO CLOSE MY ACCOUNT WHEN I RETIRE?

No. retired members may keep their accounts open with a minimum balance of $5.00 or more. You may deposit, withdraw, and borrow just as you had before. Retirees may also have their pension checks, as well as social security, directly deposited into their account.

4) MUST I WITHDRAW MY SAVINGS WHEN I LEAVE THE COMPANY FOR REASONS OTHER THAN RETIREMENT?

No. The savings account may be left open, and you may retain your membership privileges. Once a member always a member, so long as those privileges are not abused.

Note: A dormant account fee of $10.00 will be charged quarterly to all account numbers with no activity for 12 months.

5) WHAT HAPPENS TO MY LOANS IF I GO ON PENSION OR LEAVE THE COMPANY?

Payroll deduction stops, therefore it is your responsibility to notify the Credit Union, and make arrangements to maintain payments as contracted. If you are a pensioner, you may sign for direct deposit.

6) ARE CREDIT UNION RECORDS KEPT CONFIDENTIAL?

Yes! Transactions are kept strictly confidential.