Deposit
Deposits are federally insured up to $250,000 by the National Credit Union Administration Share Insurance Fund (NCUSIF). Complete terms and conditions for AFFCU deposit accounts are provided at the time a service is opened. Interest rates on certificates and IRAs are based on the average of the top 10 highest rates paid by financial institutions in the Mid-Atlantic states reporting data to ExpressData Corp. Rates are reviewed every Wednesday morning and may change according to the information received from ExpressData.
Share Savings Account
- Must open to be a member of AFFCU
- $25 minimum deposit
- Dividends paid on the average daily balance of $100 and above
- Dividends compounded and paid monthly
- Easy access to money
Free Basic Checking
NO Requirements:
Benefits:
- No minimum balance required
- First box of standard checks free
- Write unlimited number of checks each month
- No monthly service charge
- No per check fee
- Free access to PAT (Phone Activated Transactions)
- Free access to E-Branch 24/7
- Quick Draw overdraft protection available if you qualify for line of credit
- Atlantic Plu$ VISA Check Card accepted world wide at ATMs and at any merchant that honors VISA
- E-Bill Pay free for first three months, then $4.95 monthly for unlimited transactions
- MAC (Member Account Courtesy). Member MUST opt-in, and only qualifies after 3 months of activity in a new checking account*
Free E-Checking
Requirements:
- E-Statements
- Direct Deposit/Payroll Allotments**
Benefits:
- No minimum balance required
- Free standard checks
- Write unlimited checks each month
- No monthly service charge
- No per check fee
- Free access to PAT (Phone Activated Transactions)
- Free access to E-Branch 24/7
- Quick Draw overdraft protection available if you qualify for line of credit
- Atlantic Plu$ VISA Check Card accepted world wide at ATMs and at any merchant that honors VISA
- Free E-Bill Pay
- MAC (Member Account Courtesy) program immediately* Available for those that opt-in.
- 1% reduction in loan rates if payment is set up for payroll deduction or auto transfer
*MAC -Member Account Courtesy Pay
As of Aug 15, 2010, you MUST opt-in to have this service.MAC is a last resort protection for insufficient funds when a transaction attempts to clear your checking account. MAC saves you the embarrassment and extra costs of a return item or a denied transaction. When a transaction is attempting to clear your checking account, our system automatically:
- First, looks to see if you have Quick Draw overdraft protection line of credit for available funds to cover the clearing transaction. If this option is not available.
- Next, goes to your share savings account for available funds to cover the clearing transaction. If this option fails to find the needed funds or the number of allowed withdrals has been exceeded
- Then as a final courtesy MAC covers checking transactions up to $500.00 and Money Market withdrawals up to $1500.00 including the $25 courtesy fee for each item attempting to clear.
- Finally, if no funds are available through the first three options, your transaction is either denied or returned. If the transaction is denied there is no extra charge. If the item is returned, your account is charged the non-sufficient funds $25.00 fee.
If MAC covers a clearing item, a notice is automatically mailed alerting you that you have 30 days to bring your account positive again.
**Direct Deposit/Payroll AllotmentsIf your employer is unable to provide us with your direct deposit or you are self-employed please contact us directly at 410.584.7474, option 5.
Club Savings Account
- No minimum deposit required
- Use funds for any purpose
- Deposit or withdraw at any time
- Dividends compounded and paid monthly
- Easy access to money
Money Market Account
- $500 minimum deposit required
- Dividends compounded and paid monthly calculated on average daily balance
- Dividend rate tied to the share account rate based on account balance
- Balance tiers are 1)$500-$2,499, 2)$2,500-$9,999 and 3) over $10,000. The first tier earns 1/2% more than the share account rate, the second tier earns 1% more than the share account rate and the third tier earns 1 1/2% more than the share account rate. Deposits can be made at any time
- Up to 6 withdrawals per month allowed
- Limited check writing capabilities
Share Certificates
- High dividends
- Terms ranging from 3 months to 5 years
- $500 to $2,500 minimum deposit required depending on term selected
- Step-Up option available
Jumbo Share Certificates
- Earn higher dividends
- Terms ranging from one year to 5 years
- $50,000 minimum deposit required
- Dividends compounded and paid quarterly
IRAs (Individual Retirement Account)
Savings specifically designed for retirement income or your child's education.
- Easy Way Share IRA dividends compounded and paid monthly.
- IRA Share Certificate terms of 1, 2, 3 or 5 years require $100 minimum deposit
- Competitive dividends compounded and paid quarterly
- Contributions may also be tax deductible depending on your income *
- Can be set up as a Traditional, Roth or Educational IRA
- Step-Up option available
*Consult your tax advisor.
To OPEN call 410-584-7474 or 1-800-505-7476 during normal business hours.
Step-Up Share Certificate & IRAs
- 2, 3 and 5 year terms available. (Except Jumbos)
- Must be held for 1 year at rate opened
- If dividend rates go up, a rate increase may be requested once for the remaining term
- Early withdrawal penalty stiffer than the regular share certificate
Health Savings Account
To be an eligible individual and qualify for an HSA, the member must meet the following requirements:
2. To set up an HSA they need to be a member of AFFCU.
