LIMITED SHARE DEPOSITS
February 8, 2010
Effective March 1, 2010, the Board of Directors have limited the amount of deposits by members in the credit union. SHARE DEPOSITS ARE LIMITED TO $500.00 PER MONTH PER ACCOUNT. The maximum deposit will remain at $250,000.00.
The Board has taken this action to maintain the capital of the credit union at a level which will ensure that funds will be available for our borrowers and to maintain a future competitive level of return for our investors.
MORATORIUM ON HOME LOANS
March 14, 2011
The Board of Directors approved a moratorium on granting First Trust Deed and Home Equity loans until the ratio of home loans to total loans drops to approximately 50%. We will honor those loans which are currently being processed.
Lower Rates
October 6, 2011
The Board of Directors lowered the rates on New and Used Autos to 2.5% A.P.R.
May 16, 2011
The Board of Directors lowered the rates on Signature loans to 9.5% A.P.R
ENERGY EFFICIENCY LOANS
November 18, 2013
The Board of Directors approved an Energy Efficiency Loan with a rate of 7.0% for up to 120 months.
LIFE INSURANCE
April 14, 2014
The credit union will no longer be offering free life insurance on loans made after April 14, 2014. Existing loans to eligible members will be covered up to $25,000 until paid in full.
