DEPOSITS:

District Two Highway Credit Union has several deposit accounts for your convenience.

Share (Savings) Accounts

The credit union pays competitive dividends, which go to you the owner, not a group of stockholders. It only takes $25.25 to start an account.  Your account remains active as long as $25.00 (the par value of one share) or more remains on deposit. Sub-accounts may also be opened to keep monies separate for a special purpose.

Certificates of Deposit

Investment account for 6, 9, and 12 month terms.  Minimum deposit of $500 required to open a certificate of deposit.  Quarterly interest compounded or deposited into a share or checking account.  Automatically renewable with a 10-day grace period.  Early withdrawal penalty of 90 days interest. NCUSIF insured.

Christmas Club/Vacation Club

The District Two Highway Credit Union offers Christmas Club Accounts to our members.  You are able to make deposits at any time to this account by cash, check or payroll deduction.  Checks will be issued to the members the first week of October so that you will receive your money in plenty of time to do all of your Christmas shopping.  Christmas Club Accounts earn the same dividends as regular share accounts. Vacation Club Accounts are very similar to the Christmas Club Accounts with checks being issued to the members in May.

Share Draft Checking

No minimum balance requirements apply to this account No per check charge No dividends will be paid at this time Free overdraft protection from savings account (up to six transfers) First 50 checks are free No charge for share transfer requests Other fees that may apply

NCUA Insurance

Is my money SAFE? Absolutely!  Credit Unions are chartered under either federal or state law.  Federally chartered credit unions are regulated by the National Credit Union Administration (NCUA), an independent agency of the U.S. Government.  State chartered credit unions are regulated by their state credit union department.  NCUA administers the federal insurance fund (NCUSIF), which covers all federal credit unions and most state chartered credit unions.  Each member's savings are insured to the full legal limit of $250,000 by the National Credit Union Share Insurance Fund (NCUSIF) and that limitation applies to the total of a person's funds in regular shares, share certificates, and share draft accounts.  There is no safer place for your money.

Life Savings Insurance

Share accounts in the credit union shall be covered by Life Savings Insurance on account balances between $1,000 and $2,000 if certain requirements are met.  For more information on this, please contact the credit union.

Dividends

Dividends are calculated using the average daily balance method.  Dividends are paid on the last day of each month.  Dividend checks may be mailed to the member if a request is made in writing.  To earn the annual percentage yield disclosed, you must maintain an average daily balance of $100.00 in your account for the dividend period.

LOANS:

The District Two Highway Credit Union has several loan options for your convenience. Due to the Minor’s Act, anyone under the age of 18 must have a parent or a legal guardian as a cosigner. No new loans will be granted if the member has an existing delinquent loan.  Any member who causes the credit union a loss will not be eligible to borrow from the credit union.

Signature Line-of-Credit

An open line of credit may be granted for a maximum amount of $5000. The length of time of repayment of a loan secured by signature only is limited to a maximum of 60 months. Once the initial application is approved, loan advances can be taken over a two year time period.  This is a very convenient and fast way to get advances.  Our signature loans can help in areas such as bill consolidation, home improvements, medical bills and college expenses.  If the purpose of this loan is to consolidate bills, checks may be made payable directly to the creditor.

Christmas and Vacation Loans

These loans are set up with an 11 month repayment schedule and are offered at a 1-2% discount off of the signature loan rate.

Share Secured Loans

Pledged share loans are limited in amount by the share balance in the borrower's personal or joint account. The length of time of repayment shall not exceed 72 months.

Master Card Credit Card

Carry international purchasing power with a great rate, no annual fee and a 25-day, interest-free grace period on purchases.

Computer Loans

Computer loans will be available for 100% of the purchase price with the maximum amount borrowed of $3500 and a maximum term of 36 months.

Lawnmower & Small Farm Equipment Loans

Lawnmower and small farm equipment loans will be available for 90% of the appraised value with a maximum amount of $15,000 borrowed and a maximum term of 60 months.

Collateral Loans

The credit union will accept all of the following items as collateral on loans: Automobiles Boat, Motor & Trailer Waverunners Campers Recreation Vehicles Motorcycles 4 Wheelers Snowmobiles The value of new collateral loans shall be based on the Manufacturer's Suggested Retail Price (MSRP) supplied by the dealer.  Values of used collateral loans shall be based on the average retail price stated in the current month issue of the National Automobile Dealers Association (NADA) book. All collateral loans will be secured by a security agreement with the credit union listed as the lienholder on the title. The length of the loan shall be determined by the credit committee with the maximum term on collateral loans being as follows:  share secured, 10 years; recreational vehicles, 7 years and the maximum on all other collateral loans being 6 years. For any vehicle loan, the borrower is required to cover the vehicle with a collision and comprehensive insurance policy, with a maximum deductible amount of $1000.00, naming this credit union as "loss payee" on said policy for the duration of the loan as specified on the Loanliner documents.

Insurance Coverage

Provided to you as a benefit, our loans carry Credit Life and Joint Credit Life Insurance up to $30,000 per loan on the primary borrower and co-borrower. Our loans also carry Total and Permanent Disability Insurance on the primary borrower up to $30,000 per loan.  We also offer Temporary Credit Disability on the primary borrower with the cost being 20 cents per $100 of your monthly loan balance. All three types of insurance coverage are subject to certain age requirements and pre-existing condition limitations.