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WHAT IS A CREDIT UNION?
A Credit Union is a cooperative association of people, operating under Federal
Law, for the benefit of its members through low cost loans, good dividends on
savings, and to help members use their savings and credit most effectively. A
Credit Union is owned and operated by its members.

WHO CAN JOIN COBBLESTONE COUNTRY FCU?
Any person living or working in Orleans County and family members, by blood or marriage, who are living in the same household, regardless of age. A Social Security number is necessary to join.
Once a member, always a member.

HOW DO YOU JOIN?
Obtain a membership application card from the credit union office. Once you
fill out the card you must come to the credit union office to get assigned a
membership number and pay a membership fee.

WHAT DOES IT COST TO JOIN?
There is a $10.00 membership fee. We also ask that you maintain a minimum
balance of $5.00 in your savings account.

TYPES OF ACCOUNTS

SAVINGS– Share Accounts
The saving accounts in the credit union are called Share Accounts. Members
may save through payroll deduction, electronic deposits, check deposits and/or
cash deposits. Shares may be added or withdrawn during regular hours.

CHECKING – Share Draft Accounts
Checking accounts at the credit union are called Share Draft Accounts. There
is NO minimum balance, NO per check charge and NO service charges. You
do pay for your own checks and any additional services you may require (for
example: stop payments, traces or check copies). All checks ordered through
the credit union have duplicates for your records and originals can be
obtained, per your request, for a fee.
The share drafts are cleared through your account by 9:30 am. Your
checking accounts are connected to your savings and will overdraft to your
savings (for a $5.00 fee) if there is not enough in your checking to cover your
checks.

VISA DEBIT CARDS
Debit cards are connected to your Share Draft (checking) Account ONLY. You
may withdraw from your Share Draft Account at an ATM Machine* or at a
store by using the card as a Credit Card. *Please note if you use your Visa
Debit Card at an ATM Machine you will be charged a $1.00 fee, which will be
withdrawn from your checking account on a daily basis.

CLUB ACCOUNTS
Christmas, Tax and Vacation Club Accounts are available. These accounts earn
the same dividend as a share (savings) account. No minimum balance is
required.

SHARE CERTIFICATES
We offer short-term 6-month certificates of deposit (CD) that earn a monthly
dividend.

LOANS

• Any person who is a member and has had steady income for a year or
  more may apply for a loan. The
  amount and length of any loan is determined by the purpose, security
  offered and the person’s ability to
  repay. (Subject to federal regulations, Board of Directors policy and
  discretion of the Loan Staff.).
  
• Loan Applications are available in the lobby of the credit union. They
  can also be faxed or mailed to you.
  A new form must be completed by the applicant for each new loan
  and has to be returned to the credit
  union with payroll verification and security information, if applicable.
  
• Approval – All loans must by approved by the loan officer. After their
  approval, the necessary papers are
  prepared and the loan is processed.
  
• Repayment of Loan – The due date for all loans is the 15th of each
  month. On this day the payment will
  be drawn out of your share account. You have a seven day grace
  period before a $15.00 late fee is charged
  to your account. Interest is calculated daily on the balance of the loan.
  
• Loan Protection Insurance – The credit union offers the option of life
  nad/or disability insurance on all
  loans if the customer wishes to purchase it.

TYPES OF LOANS AND LOAN ELIGIBILITY

• Members are eligible to have three loans at one time – 2 secured and
  1 unsecured.
  
• Unsecured (or personal) loans are limited to $5000.00 with a repay
  term of up to 30 months.
  
• Secured (or chattel) loans are available for new or used cars, trucks,
  ATVs, etc. The term varies depending
  on the year of the security item. Detailed loan information is available
  by phone or fax. Secured items MUST
  carry proper insurance (collision and comprehensive) to protect the
  credit union’s interest. Collision is not
  required on vehicles over ten years.
  
• Share Secured Loans are also available. The shares must be kept in
  the share account of the member with
  the loan for the term of the loan.
  
• Home Equity Loans are available for home that have at least 65%
  loan to value.
  
• Some loans will require a Co-Maker. A co-maker is anyone with a
  good reputation, steady income and the
  ability to meet the obligation. Co-makers do not have to be members
  at the credit union.

OTHER SERVICES
We offer money orders, travelers checks and postage stamps. During the summer we also offer certain amusement park tickets at a discounted price.

FREQUENTLY ASKED QUESTIONS

How do I withdraw from my accounts at the credit union? Withdraws can be made from your share*, share draft or club account simply by coming in. You may also withdraw from your checking account at a store or ATM with a Visa Debit Card (please refer to the Share Draft section for more information). *Please note where a loan is involved, share withdraws may be restricted if the shares are pledged on a loan or the loan is delinquent.

Do share (savings) account earn dividends? YES. The net earnings are distributed to the members in the form of a dividend. These are added to the member’s shares at the end of the quarter (March, June, September and December). The dividend rate is set by the Board of Directors.

What is Payroll Deduction? Electronic deposits or payroll deduction is provided by the employer for your convenience and can be used for loan repayment and/or shares. It is necessary to fill out a card from the credit union to start, change or stop a payroll deduction. PAYROLL DEDUCTIONS DO NOT STOP AUTOMATICALLY WHEN A LOAN IS PAID OFF. Unless a change card is filled out, the payroll deduction will continue for the same amount and remain in your share account.

If I move out of the area, can I still be a member? YES. Once a member, always a member. Please remember to change your address with us.

When are Christmas Club checks mailed? Christmas Club checks are mailed the first week of November.

What are the fees or charges associated with the share and share draft accounts?

**COBBLESTONE COUNTRY FCU IS INSURED BY**
** THE NATIONAL CREDIT UNION ADMINISTRATION**
** TO THE MAXIMUM OF $100,000.00 FOR EACH SHAREHOLDER.**