Credit Union Benefits

Credit Union Benefits

Products and Services

Electrical Federal Credit Union offers you a full range of savings and loan products and convenient services to take care of all your financial needs. As a member-owner of the credit union, you’ll find you earn higher savings rates and pay lower loan rates than at most other financial institutions. Plus, you get fast, friendly service from our knowledgeable staff.

Savings and Deposit Products

Our Regular Savings account establishes your membership in the credit union. An initial deposit of $25.00 required to be eligible for all membership privileges.

Our Checking account has no monthly service charge and your first fifty checks are free. All check orders come with carbon copies so you never have to worry about forgetting to record a check you’ve written. You can open a Checking account with as little as $25.00.

Courtesy Pay:
Accounts eligible for Courtesy Pay can avoid the aggravation and embarrassment of returned checks, and high charges from merchants. Payments of overdrafts can be normally covered up to $400.00.

Individual Retirement Accounts (IRAs) are a Savings account established for your retirement. The maximum contribution amount allowed for the years 2006 and 2007 is $4,000.00 and an additional $4,000.00 for your spouse. It is also NCUA insured up to $250,000.00.

IRA Certificates and Certificates of Deposit:
EFCU offers IRA Certificates and Certificated of Deposit (CD’s) in terms ranging front 3 months to 48 months. Depending upon the term you choose your minimum deposit to earn the Annual Percentage Yield will vary from $250.00 to $10,000.00.

Money Market:
Our Money Market accounts allow you two free withdrawals per month along with access to checks that may be written from this account. There is more than one tier available to allow better liquidity of funds and to earn a higher Annual Percentage Yield. Tiers range from $1,000.00 and higher.

Christmas Club Savings:
Start saving today for the most expensive time of the year. Your periodic deposits into a Christmas Club will add up fast and help you enjoy the holidays, rather than worry about your finances.

Savings Safari Club:
Sorry Mom and Dad, this club is just for kids 12 years of age or younger. The best part is Savings Safari Club members can join with just a $5.00 deposit.

Start Smart:
This is a program for teenagers between ages 12-18. Members under the age of 18 will be allowed to add to a Share Certificate balance during the term of the Share Certificate, and members 16-18 may start their own Checking account.

Golden Sparklers Club:
This offers the ultimate Checking account for members age 55 and over. There is no minimum balance, no service charge, free checks, unlimited ATM use and no fee on ATM or VISA® debit cards.

Loan Products

Home Equity Line of Credit:
If you have time and money in seated in your home, you can qualify for low cost Home Equity Line of Credit to use for any purpose. You can put the equity a your home to work for you! The interest on this loan is usually tax deductible, too.

New and Used Vehicle Loans:
We have a variety of terms at great interest rates to help put you in the new or used vehicle of your dreams. We may loan up to 100% of the NADA retail maximum value.

RV Loans:
Whether you’re in the market for a new or used Recreational Vehicle, We have the loan terms and rates for you.

Personal Loans:
With approved credit and a good payment record at EFCU, you may qualify for an unsecured personal loan at a low interest rate. You can borrow up to the maximum of $10,000.00 and have up to 60 months to repay.

VISA® Credit Cards:
You can use this low interest Visa® Credit Card for purchases or to consolidate and pay off your other higher interest credit cards.

Convenience Services

Credit Life and Disability Insurance:
You may add these optional insurances to your monthly payment to insure that if you are no longer able to make your loan payment, it will be made for you.

Online Bill Pay:
Now pay bills with your PC. No check to write, no stamp or envelope to lick. It’s fast, it’s easy, and it’s FREE!

Debit Card:
The EFCU debit card works just like a credit card, except it directly accesses your Checking account, like a check. And with a line of credit you’ll never have to worry about overdrawing your checking account.

Access 24CU+ and PC Banking:
EFCU’s Audio Response and PC Banking system lets you access your credit union account(s) 24 hours a day. With just a touch tone telephone or a PC and a personal identification number, you can transfer funds, check balances, make loan payments and more. Call the office for more details.

Travelers Cheques:
American Express Travelers Cheques are available though the credit union. You can use them like cash without the risk for only a $1.00 per every hundred.

Travelers Express Money Orders:
As a member, you can get a money order, issued for up to $1,000.00, for just $1.00 each.

Direct Deposit:
You can have your payroll, pension, and social security checks directly deposited into your account at the credit union, without ever having to wait in line!

Payroll Deductions:
If your employer offers this service you can have all or part of our payroll check put directly into your account.

Financial Planning:
Access to a Financial Planner is available by appointment, call 1-877-355-9080. You’ll be able to map out a firm financial plan for your future.

Legal Referral Service:
As a member, your first half hour of consultation is free. Call the Union Retirement Solutions for more information.

Credit Union Service Centers:
Credit Union Service Centers make your basic transaction needs more accessible. They give you more locations and extended hours. All you need to access your account is your account number, and a photo ID. Call the credit union or look online at, to find the nearest location to you.


Electronic Federal Credit Union