Services
PAYROLL DEDUCTION
An easy and systematic way to make deposits into any account: Share/Savings, Christmas Club, and Share Draft Accounts. Loan payments can also be made through Payroll Deduction. A predetermined sum is deducted from your payroll check and is allocated as you desire to your Credit Union account.
SHARE DRAFT/CHECKING
This is a checking account which earns dividends. A share draft account requires no minimum balance; however, a $25 deposit is required to initially open this account, which earns monthly dividends if a $500 balance is maintained.There are no monthly or per check charges. Pre-authorized payments for bills such as insurance, mortgage payments, and utilities can be drawn from a share draft account. Monthly statements will be sent listing all deposit and withdrawal transactions. Small fees will be charged for stop payments, microfilm copies and drafts presented to insufficient funds.
SHARE/SAVINGS
When you open a share account with a $5 deposit, you share ownership of RACOM Community Credit Union. Highly competitive dividend rates are paid quarterly on regular share/savings accounts with a minimum balance of $100. Regular shares balances from $100 to $2499 earn the basic dividend rate; balances above $2500 receive a higher dividend rate.
Christmas Club
Regular deposits into this account through payroll deduction, cash, or check make saving for Christmas simple. A Christmas Club account can be opened any any time throughout the year. Checks are issued in late October for the amount in this account plus a dividend which is compounded annually. You will have plenty of time for Christmas shopping. Early withdrawals will forfeit dividends earned and closes the account.
LOANS
Credit Union members are eligible for competitive low interest loans for new and used cars, recreational vehicles and personal loans. Automatic loan repayment is easy through payroll deduction when available or by monthly transfer. Lower interest rates are offered by using your Share/Savings as collateral.
Loan protection insurance is provided on all loans to Credit Union members under the age of 70 at a minimal charge. This means that if you die or become permanently disabled, your credit union loan will be paid off in full (to the $15,000 maximum). Temporary disability insurance is also available at a minimal charge and is included in the loan payment. There are no penalties for early payment. Contact the Credit Union for details and current interest rates.
RACOM MASTERCARD
An affordable credit card with a low variable interest rate and no annual fee. You can avoid paying interest by paying your balance in full within 25 days of statement date.
MASTERMONEY CARD
RACOM Community Credit Union offers the MasterMoney Card. A debit Card and an ATM Card all rolled into one. The MasterMoney Card gives you access to your accounts day and night. Used as a debit card, you can now leave your checkbook and pen at home and make your purchases. Any place that accepts Matercard will accept the MasterMoney Card. Just present the card at checkout, have it swiped through the machine and the purchase will come right out of your share draft account. There are no transaction fees when you use your MasterMoney Card as a debit card. Used as an ATM card, You can take cash out of your account at any CIRRUS ATM. You can also transfer between accounts, make deposits and check on your balance. Small fees may be incurred when using your card as an ATM card. For full disclosures on the MasterMoney Card, Stop at the Credit Union.
PREMIUM SHARE/
SAVINGS OPTIONS
Premium Share/Savings accounts are high yielding, no risk investments. Highly competitive rates are paid monthly and withdrawals can be made at any time without penalty. Dividends are computed on a daily basis. You can use the monthly dividend or keep it in your account which will increase the annual percentage yield on your investment.
Share/Savings:
$100 to $2499 Quarterly
$2500 & Over Quarterly
Premium Share/Savings Options:
$ 5,000 - 10,000 Monthly
$10,000 - 20,000 Monthly
$20,000 & Over Monthly
All accounts are insured up to $100,000 by the government backed National Credit Union Administration. Contact our staff for current rate information.
Time Certificates
Time Certificates are longer term investments with the Credit Union. We offer competitive rates with quarterly compounding and the option to compound the dividends on the certificate or deposit them into your shares account. So if you are looking for a longer term investment, stop at the Credit Union and see the different options we offer on Time Certificates.
KIRBY KANGAROO CLUB
The Kirby Kangaroo Club is an account we offer children 12 and under. Credit Union members' children, grandchildren, nieces or nephews are eligible to join. The program teaches systematic savings techniques plus provides fun activities throughout the year. Kirby Kangaroo accounts earn the same dividends as that paid on share savings accounts. Contact the Credit Union for details.
Plus . . .
Notary Service
Personal Money Orders
