FAQs

Membership Eligibility
Any registered member of Maternity B.V.M. Catholic Church, St. George Catholic Church, faculty and staff of Bishop McNamara school system, or an immediate family member of someone who already has an account with Maternity B.V.M. Credit Union.

If I meet the eligibility requirements what is needed to open an account?
You can open a share/savings account with a minimum of $20.00. We will need to see two forms of ID (drivers license, state ID, social security card…etc).

If I become a member and were to move away can I still be a member of the credit union?
Yes, and you will retain access to all benefits and services. Our philosophy is “once a member, always a member”.

Is my savings/share account insured?
All deposits are insured by the National Credit Union Administration (NCUA) up to $250,000.00.

Maternity B.V.M. Credit Union’s maximum deposit per member is $125,000.00 (per board policy).

How are dividends paid?
Dividends are paid quarterly (March, June, September, December) and are based on the average daily balance in your account.

How is my loan interest rate determined?
We do not use risk based lending.  All members qualify for the same low rate.

What is the credit union’s fee schedule?

Delinquent Loan

  • Loans that are over 10 past due will be assessed a $30 late fee

Dormant Account

  • A fee of $25 will be assessed to any account under $25,000 that have been dormant for 1 year or 365 days

Stop Payments

  • Stop payments on official credit union checks will be assessed a $40 fee,

Wires

  • Wires out $30
  • Wires in $20

Foreign Check

  • Depositing of Foreign Checks will be assessed a $20 processing fee

Non-Sufficient Funds

  • NSF on checks presented by a member will be assessed a $25 fee

Money Orders

  • A $1 fee will be assessed for each individual money order purchased. The maximum amount per money order is $1,000. Money orders can only be purchased with cash or compensating funds in the member’s account.

Copies of Statements

  • A $2 fee will be assessed for additional copies of statements
  • Re-Opening an Account for a Former Member
  • There will be a $10 fee for any member re-opening an account within 6 months of closing an account.
  • Account Closing Fee
  • There will be a $10 fee for any member closing an account within 6 months of opening an account.

Opening and Closing Accounts

  • There will be a $10 fee for any member re-opening an account within 6 months of closing an account.

Credit Union Checks

  • On checks made payable to the member
    • For all members regardless of share balance
      • 2 checks can be drawn on the Credit Union account with member funds each month with no charge.
      • 3 or more checks drawn off of the same account within a one month period will be assessed a $2 processing fee.
  • On checks made payable to a 3rd party at the request of the member
    • Members that maintain a minimum share balance of $5,000
      • 2 credit union checks can be drawn on the Credit Union account with member funds each month with no charge.
      • Three or more checks drawn within a one month period will be assessed in a $2 processing fee.
    • Members that maintain a share balance of $4,999.99 or under
      • All checks drawn will be assessed a $2 processing fee.

This fee schedule is in effect as of September 1st, 2018.

What is the difference between a bank and a credit union.
Credit unions are not for profit. Credit union members share ownership of their credit union and have democratic control. They elect from their membership a volunteer Board of Directors, which appoints the Supervisory Committee and Credit Committee that also serves without pay.  All credit unions have a limited field of membership, meaning its members share something in common, such as where they work, live or worship.

What is the maximum loan amount?
The maximum credit extension is $75,000.00 per qualified member.

Who are the members of the Board of Directors?
David Anderson
Jeanne Balber
Cheryl Burns
Christopher Burns
Robert Lampley Jr.
Lisa Lillis
Marsha Saathoff

Who are the staff members?
Lisa Lillis  –  Dawn Luhman  –  Jeanne Balber – Cheri Boudreau