Master Shares

Like all financial institutions, an individual is required to open an account to utilize the services offered. Credit Unions are the same; a member must open a Master Shares account to utilize the services offered. There is a difference between most financial institutions and credit unions. When you open an account with a financial institution, you are a customer, not an owner. With a credit union, when you open an account with a minimum of $25.00, you become part owner. That is why credit unions call the account a share account. The Master shares account is federally insured by the NCUA up to $250,000. Dividends are paid daily and posted to the account quarterly. This account must be opened first before any other accounts are opened and loans are applied for. Statements are issued quarterly and there are no fees associated with this account.

Share Draft/Checking

This account requires members to open an account with a minimum of $50.00, but there is no minimum balance required to maintain this account. Members must have a checking account to receive a Visa Check/Debit Card. There are no hidden fees, unlimited check usage, and checks are free, if they are ordered in the office by an employee. This account does not pay dividends. All funds are insured up to $250,000 by the NCUA. Statements are issued monthly. All members with Visa Check Cards have access to CU$ and Allpoint ATM’s. the CU$ and Allpoint ATMs are FEE FREE! There are over 32,000 locations throughout the United States. Visit www.allpoint.com to find a location near you.

Second Chance Checking

The purpose of the Second Chance Checking is to help individuals that either never had a checking account or had problems in the past, with their checking accounts at other financial institutions, and now want access to free checking and free check cashing.

Second Chance Loans

Elliott federal Credit Union also offers “short term” loans to members as part of the Second Chance Credit Rebuilding Program. These loans are designed to help individuals get out of any type of Payday loans they may have. These loans are in the amount of $200.00 to $1,000.00 and have a lower interest rate than Payday or Personal loans. The payback term of the loan is 12 months or less. Member are required to attend and complete the Financial Literacy Classes before they will be considered for a “short term” loan.

Money Fund

Like the Master shares account, a minimum of $25.00 is required to open this account. All funds are insured up to $250,000 by the NCUA. The money fund pays a slightly higher dividend than the Master shares. Dividends are paid daily and posted quarterly. Statements are issued quarterly and there are no fees associated with this account.

Christmas Club

This account is a great way to save for the holidays! To open a Christmas club, we only need a minimum deposit of $5.00, but transactions are limited to deposits. Checks are distributed annually in October. All funds are insured up to $250,000 by the NCUA and dividends are paid daily and posted quarterly. Statements are issued quarterly and there are no fees associated with this account.

Vacation Club

Like the Christmas Club, save a little each week for your next vacation. To open this account, a minimum of $5.00 is required, and transactions are limited to deposits. However, since people take vacations at different times during the year, members will be allowed to make up to 4 withdrawals per year. All funds are insured up to $250,000 by the NCUA. Dividends are paid daily and posted quarterly, and there are no fees associated with this account.

Special Share

This account is generally used as an escrow account for such things as taxes and insurance. To open this account, a minimum of $5.00 is required for deposit. All funds are insured up to $250,000 by the NCUA. Dividends are paid daily and posted quarterly. Statements are issued quarterly and there are no fees associated with this account.

Share Certificates

We offer terms up to 3 years and have competitive interest rates! A minimum of $500.00 is required to open a Share Certificates.

Senior Financial Package

This package includes free checks, little to no fees, Free Visa Debit Card, Free Notary service, and many other Free services for our members over 55 years of age.

Leap Into Your Future

This account is designed to assist children with their financial future. Children are encouraged to jump up and deposit monetary gifts, allowances and any additional funds that may help them leap into a strong financial future of savings.

Student Financial Package

The purpose of this financial package is to provide members/college students’ access to Elliott Community Federal Credit Union through an ATM at a financial institution at any college or university in the United States.

This package has the potential to also provide the college student with a good credit rating for after graduation. By signing this agreement, both the college student and parent or guardian will agree to the following conditions:

1. Although the student will be the primary account owner, the parent or guardian will be a joint owner on the account and will be equally financially responsible for any and all deficiencies that may occur on the account.
2. The parent or guardian has accepted the instructional material and will go over this material with the college student.
   
3. The parent or guardian and college student will notify Elliott Community Federal Credit Union immediately, of any changes or events that would affect the account. Examples such as address changes, lost or stolen cards etc.
   
4. The credit limit will not be increased without first obtaining the written agreement of the parent or guardian that he or she will assume liability for the increase. If a credit card account has been opened for a member under the age of 21, no increase in the credit limit will be made on such account unless the member has the independent ability to make the requirement minimum periodic payments on the increased limit or the cosigner, guarantor, or joint accountholder who assumed liability at account opening agrees in writing to assume liability increase.
   
5. Upon graduation the student/card holder must qualify on their own based on the Credit Union's underwriting standards to release the parent as a co-signer.
   
6. Either the student Card holder or the parent/co-signer may request that the parent/co-signer be removed from the Card if they no longer qualify for this package because the student has graduated or discontinued their college education. The primary card holder must qualify on their own to keep the card by satisfying the Credit Union's underwriting requirements.
   
7. Students that graduate are eligible to convert the card solely in their name.

For more Checking & Savings information, check out our Current Rates

Please review our Funds Availability Policy here

Fee Schedule
Fee Description	Amount
Replacement Debit/Credit Card	$25.00
Non-Sufficient Funds	$30.00
Overdraft Protection	$5.00
Domestic Wire Transfer	$15.00
International Wire Transfer	$30.00
Skip Payments	$25.00
1 time Loan Application Fee	$25.00
Stop Payment Fee	$25.00
Check Rush Fee	$60.00
Check Copy Fee	$5.00
On Us Check Cashing	$5.00
Statement Copy	$30.00 per hour or $5.00 per Statement