|Withdrawal of Shares:
|Withdrawal of shares
may be requested by telephone or in person within the following provisions:
- Over the counter cash withdraws
of $500.00 or less may be made anytime during business hours. Cash can not be
disbursed to persons other than the member listed as the share holder or a
designated joint tenant.
- Request for amounts more than
$500.00 should be telephoned in 1 hour prior to pickup.
- Requests for withdrawal of
Christmas shares before the November maturity are not allowed except in case of
emergency. In the event of a non-emergency withdrawal a substantial penalty
will be charged.
- Dividends on shares are declared
quarterly and are paid on the average daily balance and compounded
- Unsecured loans may be made to
members not to exceed their gross monthly salary. Members may qualify for
- Open-end line of credit loans
are available to members who qualify.
- Smart Start Student
- Light Side Loans to pay off high
interest rate credit cards.
Loans: Many types of secured loans are offered:
These are a few of the types
loans that the credit union offers. Terms and interest rates are very
competitive and in many cases, far better than other financial
- Real Estate
- New and Used
- Small Tractors
- Riding Lawn Mowers
- Shared Secured
- Misc Collateral
Effective November 1, 2004,
it will be the policy of Rose City Federal Credit Union to deny services to any
member who is a loss to the Credit Union due to an uncollectable and/or charged
off loan or share draft account. Members who cause a loss will be provided
access to a share (savings) account only, until they close the account or the
account is closed due to inactivity. On a brighter note, the Credit Union has a
low delinquency ratio at this point, and we are confident that this new policy
will encourage members to remember the variety of benefits the Credit Union
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