Deposit Services - Accounts Available

CHECKING / SHARE DRAFT ACCOUNTS

When is a checking account not a checking account?

When it’s called a Share Draft Account! It looks, writes and is accepted just like a checking account. Discover the benefits of opening a GMECU share draft account:

  • With a Share Draft Account, there is no minimum balance requirement and no monthly service charge.
  • Unlimited check writing with no per check fees.
  • No hassles with cancelled checks because you generate a carbonless copy with every check you write.
  • Overdraft Protection is available from your Regular Share Account.
  • Direct Deposit Available
  • Automatic Bill Payment is available
  • Master Money Debit Card available to make purchases instead of writing a check. Debit Card can also be used at any ATM with the STAR or PLUS System logos.

FEE SCHEDULE

Overdraft Fee................................................................. $25.00
NSF Fee......................................................................... $25.00
Returned Item Fee....................................................... $25.00
Stop Payment Fee........................................................ $15.00 per check request
Automatic Overdraft Fee.............................................. $3.00 per item
Card Replacement Fee............................................... $5.00
ATM Transaction Fee................................................... $1.00 per transaction after 10 free per month
Account Research or Reconciliation Fee................ $10.00 per hour
Wire Fees....................................................................... $10.00 and $30.00 (out of country)

Contact GMECU for a complete Rate and Fee Schedule

Debit Cards and ATM Cards

Credit Union members have access to their accounts through the ATM network. They offer 24 hour service, 7 days a week, for transactions including: deposits, withdrawals, transfers, and account inquiries.

You are eligible for an ATM card if you have a Share Account in good standing.

Credit Union members may acquire a Master Money Debit Card by applying at the Credit Union or by requesting an application form. The Debit Card works like a check. Purchases are directly debited to your Share Draft Account. There is NO FEE if the card is used as a CHECK. (Subject to acceptable credit)

The Master Money Debit Card can also be used as an ATM card.

The credit union will not charge for the first ten (10) transactions per month when a card is used at an ATM. There will be a $1.00 fee for each transaction thereafter. The owner of the ATM may impose a surcharge fee. (Check the Alliance One Link for Credit Union ATM’s that do not charge our credit union cards a surcharge fee.)

Please note: There may be a delay of one (1) business day before ATM or Debit Card transactions are posted towards your account.

To see a list of ATM's that are surcharge free please Click Here. 

SAVINGS PLANS

Regular Share Savings Accounts
This is the initial account you open to become a member, which qualifies for all of the credit union services. By maintaining a $5 balance in this share account, you become a shareholder as well as a member. These shares represent your ownership of the credit union. There is a minimum balance of $50 required to earn dividends. Dividends are compounded daily and paid quarterly.

Funds are available upon request without penalty and may be accessed by use of an ATM or by contacting your credit union.

Sub Share Accounts
This account is great for saving for taxes, major purchases, or any other special occasions you might decide to save for. These accounts also earn the same rate of dividends as the regular share accounts without the $5.00 hold on your balance. Account is still subject to a minimum balance of $50.00 to earn dividends.

Share Club Accounts
In addition to regular share accounts, GMECU also has special accounts called Vacation Club Share Accounts (Apply Now!) and Christmas Club Share Accounts (Apply Now!). Vacation Clubs start the first pay in March of each year and mature at the end of February of the following year. Christmas Clubs start the first pay in November of each year and mature at the end of October of the following year. At the end of each term, club amounts will be deposited into your regular share savings account and will remain there until you need the funds. You may then access these funds by ATM's, in person, or by mail. You may also make deposits in this same matter as well as through payroll deductions. Dividends are compounded daily and paid at the end of the term. There is a $10 fee for early withdrawals.

Share Certificates (Certificates of Deposit)
This investment option allows you to lock in a terrific rate of return over a fixed period of time, and is a great place to deposit funds that you will not need for awhile.

We offer short term certificates for 3, 6, and 12 months. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. Dividends are paid at maturity. Early withdrawals allowed with penalty of accrued dividends. There is a minimum deposit of $1000.00 to open a certificate.

Longer term certificates of 24 and 48 months are also being offered at a higher Annual Percentage Rate and Yield. Rates are fixed and will be in effect for the term of the account. Dividends are credited quarterly, and early withdrawals are allowed, but a penalty will be charged. There is a minimum deposit of $1000.00 to open a certificate.
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