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     Home > Account Services
ACCOUNT SERVICES

Five County Credit Union has a variety of convenient
savings  options to offer you:

ACCOUNT DISCLOSURES

Click on the links below to view or print these important disclosures.


SAVINGS ACCOUNTS
Saving your money for the future is not only smart financial management, it is the keystone to your relationship with Five County Credit Union. In order to become a member you are required to begin by investing a minimum of $25 in a Savings Account. Your savings are federally insured up to $250,000 and privately insured up to an additional $250,000.

SHIP Accounts
(Shareholder's Investment Program - 90-day notice account):
It's never been easier to save!  Earn a dividend yield similar to a savings certificate with a minimum deposit of just $5.00.  Exclusive to Five County CU, the SHIP Account is a great tool to start a serious savings plan with a high rate of return.  A substantial penalty applies for any withdrawal without the required 90-day written notice.

Prime Time Account
If you are age 60 or over, Five County Credit Union invites you to participate in our special savings program, Prime Time. In addition to the services offered to all credit union members, Prime Time members receive these extra benefits:

  • Free Checks
  • Free Travelers Checks
  • Free Money Order

To be eligible for a Prime Time account, you must be 60 or over and have net pay direct deposit to any Five County Credit Union account. If you are at least 60 years of age and currently have direct deposit with the credit union, email us or visit the New Accounts desk at any of our branch locations to receive your Prime Time identification card and start receiving the special benefits of maturing with Five County Credit Union.

Monty Moose Youth Savers Club
Saving is Fun with Monty Moose!

With our Monty Moose Youth Savers program we teach children that learning to save can be FUN. This special account is available to children 12 and under and offers incentives for developing good savings habits at an early age.

When a Monty Moose Account is opened, each child receives a:

  • Monty Moose Dime Saver
  • Monty Moose Quarter Saver

Email us or visit any branch location to open a Monty Moose Account for your child, or any family member under 12 years of age.

Special Savings Club
Open an account for any special savings need -- taxes, vacations, downpayments...

Christmas Club
Do you find yourself coming up short for cash during those end-of-year festivities?

Saving early for the holidays can relieve some of the season's stress, and your credit union has just the answer. Let Five County Credit Union help you save money throughout the year with a personal Christmas Club. The Christmas Club account allows you to set a specified amount of money aside each month. Come October, you'll be thankful you thought ahead.

Call 1-800-750-0959, or email us for more information.


CHECKING ACCOUNTS
A checking account at Five County Credit Union offers you more convenience and value for your money. Check out the great benefits of our credit union checking accounts:

  • No monthly service fees (Except Second Chance Checking)
  • No per-item processing fees
  • Carbon copies of each check
  • Detailed monthly statement
  • "Safety Net" - a line of credit for overdraft protection
  • Up to 6 automatic transfers per month from available savings for overdraft protection
  • NCUA deposit insurance up to $250,000 per member
  • ESI deposit insurance up to $250,000 per member
  • Convenient deposit availability
  • ATM/Visa Check Card Access
    • Withdraw cash
    • Obtain balance information
    • 24 Hour, 365 days around the clock service
    • Transfer funds from savings to checking
  • Free Online Account access
  • Telephone Account Access Availability with Teller-Phone
    • Toll free 866 number
    • Obtain balance information
    • Transfer from savings to checking
    • Find out if checks have cleared

CLASSIC CHECKING

All of the benefits above, plus:

  • No minimum balance
  • "Safety Net" line of credit for overdraft protection up to $2,500.00
  • $5.00 Activation Fee for ATM/VISA Check Card
  • Visa Check Card Access with a $2,500 daily limit ($2000 purchases/$500 cash)1
  • Bill Payment service available for a nominal fee

SECOND CHANCE CHECKING (Business accounts are not eligible)

Five County now offers a checking account program at an added premium* that would forgive a member’s minor past account management issues. Once a member has established an active account history for one year, they can request a conversion to Five County’s Classic (no fee) checking account. Five County Credit Union has a solution for members with less than favorable ChexSystems records provided the report is not for fraudulent activity.  Second Chance Checking Provides access to:

  • Checks
  • Visa Check Card (Debit Card)
  • Online Banking
  • E-Statements
  • Direct Deposit
  • Online Bill Pay*

*There is a $5 monthly fee for the account. Members
will not have “off-line limits” access for Debit Cards,
and will not have the Reg E option to opt-in. 1-year
(current/active) history with no more than 10 returned items to qualify for Classic Checking (no fee) conversion. Regular Online Bill-Pay rates apply.

PRESTIGE CHECKING
(Business accounts are not eligible)

  • Minimum balance of $10,000.00 in regular Savings Account
  • Tiered dividends yielding higher earnings on higher balances
  • "Safety Net" line of credit for overdraft protection up to $5,000.00
  • No Activation Fee for ATM/VISA Check Card
  • Visa Check Card Access with a $4,000 daily limit ($3000 purchases/$1000 cash)1
  • Free Bill Payment service2
  • Free checks (1 box per year)
  • Visa Platinum Credit Card annual fee waived1
  • Unlimited Free ATM transactions3

ELITE CHECKING (Business accounts are not eligible)

  • Minimum balance of $25,000.00 in regular Savings Account
  • Tiered dividends yielding higher earnings on higher balances
  • "Safety Net" line of credit for overdraft protection up to $10,000.00
  • No Activation Fee for ATM/VISA Check Card
  • Visa Check Card Access with a $5,000 daily limit ($4000 purchases/$1000 cash)1
  • Free Bill Payment service2
  • Free checks (1 box per year)
  • Visa Platinum Credit Card annual fee waived1
  • Unlimited Free ATM transactions3
  • Free single party travelers checks
  • Increased CD rate of 0.25% (one time step up option)4
  • Loan discount of 0.25% on consumer loans (excludes Real Estate, student loans and lines of credit)
  • Free personalized leather checkbook cover
  1. For approved applicants.
  2. Charges for unusual activities, such as overdrafts, stop payments orders, duplicate statements, check copies or specifically imprinted checks may apply.
  3. ATM owners may assess a fee.
  4. Certificate holders have a single opportunity to "step up" to a higher rate. All other terms remain in effect.

TERM SAVINGS CERTIFICATES
All Term Deposits/Certificates require a minimum deposit balance of $500. Substantial penalty for early withdrawal.
  • 90-day Certificates
  • 6-Month Certificates
  • 1-Year Certificates
  • 18-Month Certificates
  • 2-Year Certificates
  • 3-Year Certificates
  • 4-Year Certificates
  • 5-Year Certificates

Click here for current rates and yields or call 1-800-750-0959 (Maine only).


MONEY MARKET ACCOUNTS

GOLDEN RATE FUND (money market account):
Minimum balance to open is $1,000. No penalty for withdrawals from your Golden Rate Fund (minimum withdrawal amount: $250).

GOLDEN RATE FUND PLUS ACCOUNT (money market account):
Minimum balance to open is $5,000. The Golden Rate Fund Plus account offers the benefits of the Golden Rate Fund, PLUS the convenience of checks. Write up to three checks per month, minimum check withdrawal of $500, and earn a higher rate than the Golden Rate Fund. Penalties apply for writing checks under the minimum withdrawal amount and for exceeding three checks per month. No penalty is assessed if the balance falls below $5,000, however the account will not earn dividends if the balance falls below $5,000 during the month.

The Ship Account, Golden Rate Fund and Golden Rate Fund Plus, are all variable rate accounts. Deposits can be made at any time. See about our payroll deduction and direct deposit options.

Certificate rates are posted in the credit union lobby and are subject to change without notice.


INDIVIDUAL RETIREMENT ACCOUNTS (IRAs)
Individual Retirement Accounts (IRAs) are great tax-favored ways to save for retirement. With a Roth IRA, earnings grow tax free and are also tax free when you make qualified withdrawals. With a traditional IRA, your earnings grow tax deferred, so you won’t owe income taxes until you make withdrawals. And if you’re eligible, your contributions are tax deductible.

Each year you may contribute $5,500 or 100% of your earned income (whichever is less) to an Individual Retirement Account. You must have earned income for the tax year you are making a contribution for. You can open, or make deposits to, an IRA any time through April 15th for the previous tax year. Current year deposits may be made throughout the year. Five County Credit Union offers you the convenience of payroll deduction payments to your IRA.

Five County Credit Union offers Regular Savings IRAs and IRA Term Savings Certificates to maximize your dividend earnings.

For additional information on IRAs, speak with a Five County representative at     1-800-750-0959, visit any of our branch locations, or email us your questions.


HEALTH SAVINGS ACCOUNTS                                                          
Health Savings Accounts (HSAs) are tax-friendly savings accounts that allow you to build a fund for future medical expenses that insurance may not cover.  The best part is the account is all yours and any unused funds may be used to supplement your retirement savings.  HSA contributions are made with pre-tax money, which means all contributions are tax-deductible.  Any interest earned on your account is tax-free.  Contributions may be made by you, your employer, or members of your family.  HSAs have a flexible contribution schedule allowing for lump sum contribution or periodic payments at any time and funds may be rolled over each year.

Anyone who is covered by a qualified High Deductible Health Plan (HDHP) and not another health insurance carrier or Medicare may be eligible to open an HSA.

The benefits of having an HSA include saving money through lower premiums and tax breaks; money deposited into your account may be used to pay the deductible or other out-of-pocket medical expenses; spouses can inherit the account without any tax consequences; and you can keep your account even if you change jobs, plans or retire.

Generally, once you have elected a high deductible health plan, the plan will mail you an information packet that includes the appropriate forms, which are to be completed by you and returned to the plan.  Come into one of our branches and we will help you through the application process.


US SAVINGS BONDS
Five County Credit Union sells and redeems US Savings Bonds for our members' convenience. Visit www.savingsbonds.gov for more information about US Savings Bonds.


MEMBERSELECT (DIRECT DEPOSIT)
It's like having a trusted friend stand in line for you.

Do you get tired of standing in bank lines just to deposit your paycheck - pay period after pay period, month after month, year after year?

Think about the time and energy you could save if someone else made sure your pay was divided between your checking, savings, mortgage and loan payments every month.

Why not sign up for a MemberSelect Direct Deposit account at Five County Credit Union?

Convenience is just the beginning.

With MemberSelect, you simply authorize your employer to deposit 100% of your net pay into your Five County Credit Union savings or checking account each pay period.

As funds are received, we'll distribute your paycheck between multiple accounts, make automatic loan payments, deposit portions into club accounts - you name it.

We'll even give you a discount on future consumer loans

In appreciation of your participation in MemberSelect, we'll give you a 1/4% discount on future consumer loans with us (excluding loans for real estate, VISA credit cards, and lines of credit).

In all, with a Five County Credit Union MemberSelect Account, you'll get:

  • FREE ATM card use at Five County's ATMs, no network charge for non-Five County ATM transactions.
  • Free Bill Pay (when used each month, includes first 20 transactions. $1 per transaction after 20.  $5.95 per month charge with no activity).
  • A 1/4 % discount on future consumer loans (excluding loans for real estate, VISA credit cards, and lines of credit).
  • FREE Travelers Checks.
  • FREE Online Account Access.
  • FREE Teller-Phone, 24 hour telephone access to all your accounts at 1-866-308-2042, (credit union identifier number 002).
  • Freedom from waiting in lines.
  • The security and privacy of automatic deposits.
  • The convenience of automatic loan payments.
Start enjoying the security and convenience of direct deposit today! Here's how...

Just ask your employer to sign you up for "net pay direct deposit" at Five County Credit Union. If you already have net pay direct deposit with us through your employer, Social Security, retirement, or any recurring federal government deposit, please contact us to receive your MemberSelect benefits.

Call 1-800-750-0959 or email us while you're visiting our website.


 
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