Important Dates to Remember

  Date: Event:
       
   January 1 - 8, 2013    Yearend Processing
   
 
July 1 - 6, 2013
 
Mid Year Preocessing
  November 21, 2013   Thanksgiving
   
 

January 1 - 8, 2014
   

Yearend Processing
 
Credit Union Terminology
Annual Audit
The credit union is required by law to have an annual audit performed each year.
This audit includes review of the credit union records each year.
 
Annual Meeting
Meeting held once a year for the membership.
This meeting must be held annually according to credit union regulations.
The purpose of the meeting is to keep the membership (owners) up to date with the status of the credit union and to vote for board members and changes that require membership approval.
 
Board of Directors
Elected body that looks out for the best interest of the credit union.
 
Dividend
Credit union term for interest paid to an account.
 
Golden Apple
A special savings program that functions similar to a Holiday Club account. Checks are issued the end of June of each year. Service charge applies each time an early withdrawal is made.
 
Holiday Account
This account gives the member the opportunity to save for the holidays. A designated amount is saved by the member on a regular basis. On November 1 of each year, a check in the amount saved in the holiday account is sent to the member to use for their holiday shopping or take care of any financial needs they may have.
 
IDA
Individual Deposit Account. This is a matching savings program which encourages our members to save and helps them to develop good savings habits. Dollar for dollar match up to a specific amount once the member has saved for a one year period.? Note there are financial guidelines associated with this savings plan. Information regarding the IDA can be obtained by contacting the credit union office.
 
NCUA
National Credit Union Administration - Federal organization that governs federal credit unions.
 
Shares
The credit union term used to identify savings dollars in increments of $5.00. For example, if you have $100.00 saved in the credit union, you would have 20 shares (100.00 divided by 5.00) A member must maintain one share= $ 5.00 in order to be a voting member.
 
YES Account
Youth Encouraged to Save - St. John United FCU youth savings program for youth 1 day old to age 18. Help your son, daughter, grandchild, nieces and nephews learn to be good savers!
     
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  St. John United Federal Credit Union
184 Goodell Street * Buffalo, NY 14204
phone: 716-847-1815 * fax: 716-847-2858
www.stjohnunitedfcu.com
 
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