VFCU - H1N1 Planning





As of August 25, 2000 the following amendments were made to Vermillion Federal Credit Union's original charter:


Section 1 of the Charter shall be amended to read as follows:
	"The name of this credit union shall be: Vermillion Federal Credit Union."

Section 5 of the Charter shall be amended to read as follows:
	"The field of membership of this credit union shall be limited to those having the following common bond:
		1. persons who live, work, worship, or attend school in and businesses and other legal entities located in the low-income community of Clay County, SD or Dixon County, NE. 2. members of record of this credit union as of August 25, 2000 (the effective date of its conversion to a community field of membership); 3. spouses of persons who died while within the field of membership of this credit union; 4. members of their immediate families and households; and 5. organization of such persons."

MEMBERSHIP ADVANTAGE
	* Members are the owners * One member, one vote; democratically controlled * Not for profit financial institution * On the average, fees are much lower than at other financial institutions * Excess earnings are returned to members in the form of higher savings rates and lower loan rates and fees * Directors and committee members are all non-paid member volunteers

MEMBERSHIP INFORMATION
All credit unions are created to provide financial services in a democratic, not-for-profit, cooperative manner with member ownership and involvement. In contrast to other financial institutions, credit unions are run by volunteers who are elected by members. Those characteristics are the foundation of the tax exemption.

Becoming a member of the credit union means that you also become a part owner. Any eligible member wishing to use the credit union's services, must first establish their membership by opening a share account. The minimum deposit to open the share account is $15, plus a one-time $1 membership fee. To maintain services at the credit union, members must keep a minimum balance of $15 in the share (savings) account at all times. Once the share account has been established, a member can begin using any of the credit union's services available.

Please contact the credit union if you have questions about your membership eligibility. You can contact us at (605) 677-5214 or e-mail us at office@vermillionfcu.com.



<--- HOME