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Deposit Services
Low minimum deposit of $100 and convenience of direct deposit
will start you on a way to your savings plan.
United Poles FCU is federally chartered to serve the needs
of people of Polish origin, and their relatives, as well as
the members of United Poles in America (ZPA), Polish-American
Congress and Polish Army Veteran groups. Before becoming a
member of UPFCU, you are invited to join ZPA (the monthly
dues are $1 payable at the time of opening an account up-front
till the end of the calendar year). Minors and family members
of the current UPFCU customers are exempt from this fee.
Our employees will be happy to assist you in opening a new
account. We require a valid identification document, such
as driver license, birth certificate, passport. The entire
procedure will take less than 20 minutes. The minimum deposit
in your share-savings account is $100.00. This balance has
to be maintained at all time.
We offer individual and joint accounts, POD (payable-on-death)
and in-trust-of-minor accounts.
Members’ savings are federally insured by the National
Credit Union Administration for at least $100,000.
Key Benefits
- Transactions into your share-savings account are easy
and convenient, and there’s no need to even step inside
our office. You can instruct your employer to make a regular
payroll direct deposit into your account, and your savings
plan thus begins and continues without any further direction
from you.
- You have access to your funds through teller phone. Convenient
quarterly statements help you track your savings as you
watch your funds grow.
Everyone has a dream. It can be a Christmas with no bills,
a vacation that is paid for, or a fantasy that needs only
money to come true! Such dreams are exactly what a United
Poles FCU Club Savings Account is made for. Special savings
accounts that you can designate as Christmas Club, Vacation
Club, College Club or any other purpose desired. Having a
formal savings account that you name and control while earning
dividends paid on the average daily balance which are posted
quarterly is the perfect way to make your money grow into
a dream come true!
All Special Club Accounts are federally insured and allow
for flexible participation.
- Save for the holiday season or for the vacation you have
always dreamed of with our higher dividend-earning Christmas
and Vacation Club accounts (up to 25bps over the regular
share account dividend rate, as declared by the Board).The
Christmas Club account provides you with the ability to
start saving early for the holiday season and helps you
enjoy stress-free holiday shopping as you can plan for the
right gifts ahead of time.
- Christmas Club account terms begin on October 15th and
mature on September 30th of the following year. There’s
no penalty on withdrawals November 1 thru December 31. As
an added benefit, the Credit Union will cover the fee for
up to 2 gift cards bought from the Credit Union and paid
from the club account.
- The Vacation Club account gives you a head start on planning
and saving for your next vacation. Funds are available twice
a year (no penalty on withdrawals in March and September),
so it’s perfect even for semi-annual payments like
insurance policy or college tuition.
- Vacation Club account terms begin on April 15th and mature
on March 31st of the following year.
- Choose the weekly deposit amount that is right for you
from $10.00 to $150.00 in $10.00 increments, and let us
do the rest! With our Automatic Funds Transfer service,
we will transfer the weekly deposit amount you designate
automatically from your Share Draft/Checking account to
the Club account. You will save time from having to visit
one of our branches.
- Christmas and Vacation Club accounts will be automatically
renewed or funds transferred to the UPFCU account of your
choice at maturity.
- You don’t have to worry about missing a weekly deposit
as you can make catch up contributions at one of our branch
locations.
You can select from the offered companion products and services
to suit your financial needs:
- Online Banking
& Audio Teller
- You can view your account through our Online Banking &
Telephone Banking systems. These services enable you to
inquire about the Christmas and Vacation Club account balances.
- E-Statements
- You can elect to receive your account statements in electronic
form through our online banking website. This service is
at no cost to you and provides you with the ability to view
your statements via computer and Internet service from the
convenience of your home. Paper Statements are also available.
Requirements and Restrictions
- To open our Christmas / Vacation Club account you must
have an established account.
- A minimum weekly deposit amount of $10.00 is required,
and a maximum of $150.00 for 50 weeks, up to the maximum
amount of $7,500.00.
- You may catch up on payments, but you cannot pay ahead.
- Early withdrawal penalty of $5.00 (per transaction) will
apply (except during the months of November and December
for Christmas Club Accounts & during March and September
for Vacation Club Accounts)
Low minimum balance of $200; no limits to the number of checks
written; convenience of VISA debits cards and on-line bill
payment... need we say more?!...
Key Benefits:
- They are first-rate and offer low fee or no fee easy access
to your account. There’ s a minimum of $200 required
to open such an account. If this minimum balance is kept
throughout the month, you pay no service charges, otherwise
there’s a $15 fee charged to your account at the end
of the month. Accounts with the balance over $2000 earn
dividends.
- You can write as many checks as you need. All transfers
from savings account to checking account (maximum of 6 per
month) can be made over the phone during our business hours
at no cost to you, our member. You can also use automatic
payments (ACH), and with our monthly statements, you can
track deposits, withdrawals and dividends easily. Now you
can reorder your checks by clicking here.
- VISA debit cards to all qualifying share-draft account
holders. Present your card and the amount of your purchase
will be deducted from your account. You will have a receipt
for your records on your monthly checking statement. Enjoy
the safety of not carrying cash, and if your card is lost
or stolen you are not liable for unauthorized purchases.
Your card is accepted easier than a check. No ID is required
and you can use it at Business Places, ATMs and Financial
Institutions.
- New!!! Now you can bill your bills online. To access
our Bill Payer site click
here or on the picture below
An Individual Retirement Account (IRA) is an excellent tool
for retirement savings. Unlike most investments, depending
on the type of IRA you choose, contributions may be tax deductible
and will grow either tax-deferred or tax-free.
An Individual Retirement Account (IRA) is an excellent tool
for retirement savings. Unlike most investments, depending
on the type of IRA you choose, contributions may be tax deductible
and will grow either tax-deferred or tax-free.
Your tax adviser can offer more guidance on which type of
IRA may be best for your needs. Of course, we are always here
to answer your questions and assist you with opening an IRA.
Please stop by or call us today for more information on the
benefits of a credit union IRA.
Key Benefits:
- Traditional IRA
For the 2007 tax year the annual contribution limit is $4,000
and $5,000 in 2008. After 2008, the contribution limit will
be adjusted annually for inflation in $500 increments. Contributions
are fully tax deductible if you don't actively participate
in an employer retirement plan. Otherwise phase-out rules
apply. Investments grow on tax-deferred basis. Earnings
are taxed only upon withdrawal.
Traditional IRAs are more attractive than ever because
expanded income limits mean more people will be able to
make tax-deductible contributions. In addition, penalty-free
withdrawals are allowed for qualified medical and higher
education expenses and for a first-time home purchase.
-
Roth IRA
As long as you have earned income, you can establish and
contribute to a Roth IRA even after age of 70½.
While contributions are not tax deductible, contributions
and earnings can be withdrawn tax-free, and you are not
required to begin mandatory distributions after reaching
age 70½. By converting your traditional IRA to
a Roth IRA, you can enjoy tax-free withdrawals. However,
the amount you convert is subject to income tax now.
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Coverdell Education Savings Account (ESA)
ESA's allow you to put away up to $2,000 per year per
beneficiary for higher education expenses, earning interest
tax-free. While there is no tax deduction for the amounts
contributed to an ESA, earnings grow tax-free. Your ESA
can be used to pay qualified elementary, secondary school
and higher education expenses.
-
Catch-up Contributions
For taxable years beginning in 2006, individuals who have
reached the age of 50 at the end of the year are allowed
to make additional catch-up contributions of $1000 per
year to their traditional or Roth IRA.
- Rollover Contributions
Make sure your retirement plan doesn't get burned when you
change jobs or retire. Just rollover you retirement savings
into an United Poles FCU IRA. You can have the funds directly
sent to our Credit Union from your employer's plan administrator.
If you'd like a cash payout instead, remember that the distribution
is subject to penalty- up to 20% federal withholding (ask
you tax advisor for details).
Retirement Savings Calculator -Click
Here.
Attractive term and rate offer. Our CDs start at $5,000.00
and 6 months. With an automatic reinvestment option, CDs may
be just the perfect investment vehicle for you.
These fixed-rate, high-yield investment accounts are available
with a variety of ranging from months to years. With an automatic
reinvestment option, CDs may be just the perfect investment
vehicle for you. The minimum investment amount is $5,000.
We also offer CDs in IRA accounts.
Kids’ savings club account is an innovative program
brought by the Credit Union to educate kids and teens on managing
personal financing. Our goal is to help the young understand
financial issues that affect them. We also hope to assist
them in building a solid foundation for success in the future,
where our Credit Union has a special place.
- An exclusive club for members of United Poles FCU ages
17 and younger. If your child already has a savings account,
then transfer it to a Kids’ Club Account and watch
the saving begin.
- Account must be a joint account with a parent or guardian.
- VISA Debit cards are not available with this account.
- Loans are not available with this account.
- Account cannot be pledged as collateral of any loan.
- Home Banking and Audio Teller are available to check
the balances.
- Free gift when you open your account.
- Earn interest on balances of $10 or more. A $2 minimum
balance fee will be imposed for every month the account
falls below $10. Fees can reduce earnings on the account.
- The dividend rate is .25% higher than the dividend paid
on regular share-savings accounts
- Maximum of six withdrawals per month. No more than three
withdrawals may be by third party transfer such as Automatic
Withdrawal (ACH). There is a $1 activity charge for each
withdrawal over six per month.
- All kids will receive free access to Googleplex- site
that contains games, stories and activities just for kids!
- New members between ages 13 and 17 will receive the following:
- Guide to Money featuring topics such as Smart Savings
and Spending, Smart Borrowing and Investing for your
Future
- How to Manage Your Checking Account featuring topics
such as How to Write a Check, How to Deposit a Check
and How to Reconcile Your Account
- Credit Cards: An Owner’s Manual, detailing
information such as benefits, interest, monthly budget
chart and protection
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