- Shares / Savings Account
- Minimum Balance
- Extended Member Eligibility
- Christmas Club Account
- Escrow Account
- Fees Charged for Services
- Share Draft (Checking Account)
All Share and Loan Accounts have the benefit of payroll deduction and Direct Deposit. This eliminates the hassle of writing checks and cost of mailing when loan payment is due, plus the benefit of saving before receiving your payroll check.
$5 to open an account and remain a member of the Credit Union. The minimum balance can be changed at the discretion of the Board of Directors.
Dividends paid on the regular Share Account are declared by the Board of Directors and paid monthly. Minimum to earn dividends is $50.
Immediate family members of a Credit Union member are eligible for membership of the Credit Union. Immediate family members is defined as one of the following:
- Adoptive relationships
Can be opened anytime during the calendar year. Christmas Club funds are transferred to your regular Share Account the first week of October each calendar year. The account will remain open and ready to receive payroll deduction beginning on the next payroll after funds are transferred unless member request that the account be closed. If the members withdraws from his/her account there is a charge of $10.
An Escrow Account was established for members with marginal credit or a high debt ratio. The Escrow Account is a protection for the credit union to use for payment on loans should the member get in arrears on his/her loan payments. (No withdrawals are to be made from the Escrow Account unless it is determined by the Loan Committee to be an emergency).
The member is required at the time the loan is approved to place a certain dollar amount per pay day period in a special savings (Escrow) account to be frozen until the loan is paid out.
A member is charged an excessive withdrawal fee of $2 starting with the fifth withdrawal each quarter. The reason for this charge is the "Share/Savings Account" was established, as a savings instrument and never intended to be used as a checking account.
Our no-charge 24 hour audio response to obtain balances, checks cleared, teller transfers, and rate information, call 225-389-8989.
Checking Account services include:
- Schedule of Fees
- Share Drafts and ATM's
- No Monthly Service Charge
- Unlimited Check Writing
- Overdraft Protection
- Automatic Transfer to cover overdraft charges per check
- From Line of Credit: $5
- From Share Account: $5
- NSF Fees: $29 per presentment
- Stop Payment Fees: $20
- Photocopy of Check: $1.50
Amount of Check Order or Cost of Checks order, whichever is greater.
Minimum Balance to Open
- $25 or amount of check order or cost of check order, whichever is greater
- Copy of Share Draft Statements
- Current History Printout or previous months $5
- Visa Check Card
- Return Statements
- Individual Retirement Accounts (IRAs)
- Duplicate Statement Copies
Visa Check Card fees include:
- Application Fee per card: None
- Monthly Service Charge: None
- Replacement Fee: $5
This MasterCard is owned and approved by Baton Rouge City-Parish Employees' Federal Credit Union. Call Kristi at 225-389-3059, ext. 208, for more details on our low interest rate, no annual fee credit card.
For any member not reporting an address change and the account is dormant, there is a $10 quarterly administrative fee.
The Credit Union has all types of loans — ranging from a Share Secured Loan that is charged 2% more than he/she is earning on their Share Account to 18% maximum rate charged on high-risk loans.
Check with Loan Department for a quote on loan rates.
A member can either purchase an IRA Term Share Certificate with a minimum of $500 or deposit into an IRA Share Account. IRA's are separately insured up to $250,000.
There is a $5 charge for current history printouts or microfiche statements for previous months.
No charge parking directly across the street from the Credit Union.