Over the past few
years, we have been enhancing SPCU’s data
processing systems so that you may enjoy quality
service in a quick convenient way.
Recently, we upgraded
the software to a windows based system that is menu
driven, allowing staff to access all your financial
information easily. This will reduce the amount of
time you spend waiting to receive information at the
Credit Union.
In June, SPCU
converted our debit card processing to the Co-Op
Network. Converting all member accounts was a
challenge, however, it certainly was worthwhile. You
now have access to more credit union ATMs without
being surcharged! Through the Co-Op Network, you can
now make deposits at certain credit union ATM
locations. Please review this web site for convenient
ATM sites or call 1-888-SITECOOP.
We have noticed that
members are using two checking accounts – basic
checking and a Money Manager. While we enjoy
providing you with multiple accounts, many members do
not realize that the Money Manager is a fully
accessible checking account! You do not need to keep
the basic checking account unless you want to keep
funds separate. Besides, the basic checking account
is a non-interest bearing account while the Money
Manager paid 3.45% APR in September 2000. Remember
that check writing is unlimited with a Money Manager
Account and you must maintain the minimum daily
balance requirement of $2,500.
There are several
other services that the Board will review in early
2001. If at all possible, we would like to offer bill
payment services, Visa payment services and a web
section for children and teenagers. While I know many
of you would like home banking, it may not arrive
before 2002. The home banking project is very
complicated because of all the necessary security
issues involved. The cost is also a factor; hence,
more research must be conducted.
Stay tuned for further
developments!
SPCU Revises Fee
Schedule
Our fee schedule,
which is reviewed by our Board of Directors and
Management annually, has recently been revised. It
has been revised to keep us in line with other local
Credit Unions and to reflect the actual cost of the
transaction. We do NOT base our fees on information
obtained from local banks, as these fees are
astronomical and in no way reflect the actual fee
transaction. The revised fees are listed below:
Revised
September 2000
Domestic Wire Transfer
(Incoming or Outgoing) $20.00
Foreign Wire Transfer
(Incoming or Outgoing)………..$30.00
Share Account Below
$100 Minimum (monthly) 5.00
Money Manager Account
Below $2,500....$6
Levy/Lien/Subpoena
Processing 20.00
DMV Processing Fee
20.00
Habitual Applicant Fee
25.00
Mortgage Reconveyance
at cost
Re-open Account
(within 6 months of
closing)………….25.00
Re-open Checking
Account Closed by SPCU 25.00
Excessive Share
Withdrawal Fee (over 3 per month) 3.00
Document Copy (per
page) 2.00
Duplicate Statement
(per page, max $5 per cycle) 2.00
Account History
Printouts (per page, max $10) 2.00
Escheatment Fee 2.00
NSF Items
Paid/Returned
(Checks, ACH, ATM,
VISA Check Card debits) 12.00
Courtesy Pay of SPCU
share
draft………………………10.00
Returned Deposit Item
(written by depositing member) 10.00
Returned Deposit Item
(written by third party) 8.00
Collection Item at
cost & 5.00
Overdraft Transfer Fee
1.00
Temporary Checks for
Established Accounts
(10 per pkg.) 2.00
Checking Account Check
Print Orders ** at cost
Line of Credit Check
Print Orders (first order free) 6.50
VISA Check Card Annual
Fee NONE
VISA Check Card
Plastic/PIN
Replacement…………….10.00
Visa Check Card Pin
Reset 2.00
Visa Check Card –
Link/Unlink 5.00
Fax On Demand –
Per Page 1.00
Verification of
Deposits 10.00
Locator Fee for Bad
Addresses 5.00
Processing Coin
Deposits (Except for Scottie Saver Acct.)
First five (5) Rolls
Free – Per Roll Thereafter .10
Signature
Guarantee/Immigration Letter 5.00
ATM Transaction Fee
(more than 4 per month) 1.00
Stop Payment Order
(Checks, ACH,
Preauthorized Debits) 8.00
Photocopy of a Paid
Check 2.50
Photocopy of a Paid
Check - Fax Rush 4.00
Account Reconcilement
& Research Assistance
(hourly rate after 15
min) 25.00
Check Cashing Fee for
Non-Members *** 1.50
VISA Cash Advance Fee
for Non-Members 10.00
Non-SPCU VISA Card
Cash Advance Fee 5.00
*American Express
Travelers Cheques
(max, $10/purchase) 1%
*Money Order (per
money order) 2.00
Cashiers Check to
Third
Party…………………………….3.00
Backup
Withholding/Dividend Withholding Fee
(per quarter) 20.00
Telephone Transaction
Fee
(not using Touch Tone
Teller) 2.00
Notary Fee Per
Signature (SPCU Document Free) 5.00
Membership Dues (one
time charge)
(up to 12 years old)
5.00
(12 to 17 years old)
10.00
(18 years an older)
20.00
* Senior citizens (50
years and older) - provided at no cost
** Seniors (50 and
older) receive two (2) free orders of 150 per order
per year of the least expensive checks provided by
the credit union check printer
*** Maximum cash back
for non-members is $500
NOTE: Maximum cash
back for members with share accounts only is $100.
Maximum cash back for members with checking account
is $ 1000.
Fee Schedule
Subject to Change at any time by the Board of
Directors of Sierra Point Credit Union.
