Savings at CMU FCU

Any of the variable rate savings accounts listed below can be tailored to suit your circumstances. Deposits may be made by mail, campus mail, in person at the office, or through convenient payroll deduction. Please make all cash deposits in person only. Withdrawal requests maybe made in person at the office, by phone, or E-Mail: cu00+@andrew.cmu.edu

Share Account - Establishes credit union membership. The minimum balance is $5. Dividends are calculated on the accounts average daily balance and are compounded daily and posted quarterly. (Federal regulations prohibit the payment of dividends in excess of available earnings.) There are an unlimited number of withdrawals by check with no penalty except loss of dividends. For cash management purposes, please give at least 24-HR notice for withdrawals over $20,000.

Share Draft Account - A credit union checking account. Open the account for as little as $50 and start enjoying convenient and valuable features that include:

• No monthly maintainence fee.
• No Per-check fee.
• No minumum balance.
• MasterMoney Debit Card available with account.
• Overdraft protection from Regular Share account.
• Detailed monthly statements.
• No charge to members for use of CMUFCU owned ATM located at University Center LL
• No charge for Point of Sale (POS) transactions.
• Internet Banking access available with account.

With direct deposit of your net pay to your CMUFCU share draft account enjoy this additional benefit:

• Five(5) Free transactions per month at Non-CMUFCU owned ATMs. All additional transactions will be $1 each. Unfortunately, we must pass on any surcharge imposed by other financial institutions for the use of their ATM. (Withdrawals, balance inquiries, and balance transfers are considered transactions.)

Christmas Club - A share account designed for holiday savings. Enjoy the convenience of saving for holiday expenditures through payroll deduction or make deposits by mail or in person. Dividends are calculated on the accounts average daily balance and are compounded daily and posted quarterly. Disbursement checks are issued after the third quarter dividend posting. There is no penalty for early withdrawal; however, the account must be closed which results in the loss of any non-posted dividends. Closed accounts may be re-opened after October 15th of the year in which they were closed.

Vacation Club - A share account designed for travel or vacation savings. Plan and save for your next family vacation or special trip through convenient payroll deduction. Dividends are calculated on the accounts average daily balance and are compounded daily and posted quarterly.

Individual Retirement Accounts (IRA'S) - Regular IRA, Roth IRA, and Educational IRA share accounts as well as higher yielding one year IRA Share certificates are available. Payroll deduction is a great way to contribute to IRA Share Accounts. Most members can defer taxes on IRA dividends and some may be eligible for a tax deduction on IRA contributions. Penalties are charged for withdrawals before age 59 1/2. (See separate disclosure for full details)