Federally Chartered 1959


WHERE PEOPLE ARE WORTH MORE THAN MONEY.



OPERATING POLICIES


Withdrawal of Shares:
Withdrawal of shares may be requested by telephone or in person within the following provisions:
  • Over the counter cash withdraws of $500.00 or less may be made anytime during business hours. Cash can not be disbursed to persons other than the member listed as the share holder or a designated joint tenant.
  • Request for amounts more than $500.00 should be telephoned in 1 hour prior to pickup.
  • Requests for withdrawal of Christmas shares before the November maturity are not allowed except in case of emergency. In the event of a non-emergency withdrawal a substantial penalty will be charged.
  • Dividends on shares are declared quarterly and are paid on the average daily balance and compounded quarterly.

Unsecured Loans:
  • Unsecured loans may be made to members not to exceed their gross monthly salary.
  • Members may qualify for larger amounts.
  • Open-end line of credit loans are available to members who qualify.
  • Smart Start Student Loans
  • Light Side Loans to pay off high interest rate credit cards.

Secured Loans: Many types of secured loans are offered:

Effective November 1, 2004, it will be the policy of Rose City Federal Credit Union to deny services to any member who is a loss to the Credit Union due to an uncollectable and/or charged off loan or share draft account. Members who cause a loss will be provided access to a share (savings) account only, until they close the account or the account is closed due to inactivity. On a brighter note, the Credit Union has a low delinquency ratio at this point, and we are confident that this new policy will encourage members to remember the variety of benefits the Credit Union provides.
  • New and Used Vehicles
  • Campers
  • Small Tractors
  • Riding Lawn Mowers
  • Boats
  • Recreational Vehicles
  • Motorcycles
  • Shared Secured
  • Misc Collateral
These are a few of the type loans that the credit union offers. Terms and interest rates are very competitive and in many cases, far better than other financial institutions.

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