Important Operating Policies

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 quarterly.

Unsecured Loans:
  • Unsecured loans may be made to members not to exceed their gross monthly salary. Members may qualify for larger amounts.
  • Open-end line of credit loans are available to members who qualify.
  • Smart Start Student Loans
  • Light Side Loans to pay off high interest rate credit cards.

Secured Loans: Many types of secured loans are offered:

  • Real Estate
  • New and Used Vehicles
  • Campers
  • Small Tractors
  • Riding Lawn Mowers
  • Boats
  • Recreational Vehicles
  • Motorcycles
  • Shared Secured
  • Misc Collateral
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 institutions.

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 provides.

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