Frequently Asked Questions

To assist you in learning more about the Credit Union, we have compiled a short list of the most frequently asked questions and answers:
 
Q. What are your hours of operation?
A. View our hours on our location page.
    
Q. Do I have to maintain a minimum balance in Share (savings)?
A.  A $200 minimum balance is required to earn dividends. You will find that our Share account generally pays a higher rate of return, called dividends, than at other financial institutions.
    
Q. Will I have to close my account at the Credit Union if I leave my job or relocate?
A. Absolutely not! Remember, "Once a member, always a member"!
    
Q. Can my family members join the Credit Union?
A. Yes - immediate family members are eligible for membership. Contact a credit union representative for further details.
    
Q. Does the Credit Union offer first mortgages?
A. No, we do not offer first mortgages at this time.  While we do not make real estate loans, our partner, CU Members Mortgage Group, can take care of your mortgage needs. Contact a credit union representative for more information.
 
Q. How long do I have to be a member before I can apply for a loan?
A. There is no waiting period. As a matter of fact, you may become a member, and apply for a loan at the same time. You may complete our loan application online.

Q. How much may I borrow?
A. This will be determined by your income, credit worthiness, length of employment, length with the credit union and other factors considered by the Loan Officer and/or Credit Committee. The interest rate depends upon your credit rating, length of payment, length of employment and/or time with the credit union and ability to repay.

Q. Is there a pre-payment penalty?
A. NO! The faster you pay, the less interest you pay since interest is based upon the unpaid balance.

Q. Who may co-sign on loans?
A. Any person 21 years of age and older with proper identification, preferably a current credit union member.
     
Q. What is the difference between a Credit Union and a Bank?
A. Credit Unions are not for profit cooperative financial institutions which generally have favorable interest rates or borrowing and savings programs as well as lower service fees.
    
Q. May a "joint owner" on an account open an account in his or her name?
A. No. A joint owner is not a member of the Credit Union. However, all immediate family members are eligible to join.
    

Looking for the answer to a different question? Send us an e-mail and we will respond to your question promptly.