Regular Share Account (Savings)

The share account is similar to a passbook savings account, but it offers many special benefits: It represents your share of member-ownership; generally, it pays higher dividends than comparable accounts elsewhere. (see our current dividend rates)

Choosing an Individual or Joint Account

• The individual share account is held in one person's name only, and only he or she may conduct account transactions. Children accounts are also available to the children of our members.
   

• The joint share account is set up in the names of two or more persons, often husband and wife, and is arranged so that either party can make transactions on the account individually.

Payroll Deduction Benefit

• This service makes automatic deductions from each paycheck, so it's easier to "pay yourself first." Deductions may be deposited to your regular share account (or draft account, your choice, in any amount you designate. If, for example, you are paid bi-weekly and designate $20 per paycheck, your annual savings would be $520 plus dividends. Over time, you would benefit from your saving habit and the compounding of your dividends!

 Share Draft Account

• Debit cards

• Free ATMs

• No monthly fees

• Dividends for accounts with balances exceeding $1,000

• No per-check charges

• No minimum balance requirement

• Paycheck direct deposit

• Overdraft protection

• Line of credit

Overdraft Protection

• You may take advantage of the overdraft protection (safety-net) option that automatically transfers funds from your designated share account(s) to your draft account to cover any "Non-Sufficient Funds" items. There is a $2 fee for each such transaction.

Line of Credit

• Qualified borrowers may take advantage of our line of credit option, which protects your good credit rating by covering "Non-Sufficient Funds" items. The line of credit option automatically advances funds (at an increment of $100) to cover any items posting to your account, up to the pre-approved loan limit.
   

• There is no cost to establish a line of credit and no cost to maintain the service when it is not in use!

Automatic Paycheck Direct Deposit

• Enjoy the convenience of direct deposit when the net amount of your paycheck is posted automatically to your draft account. Funds are available on payday, saving the time, gas and effort of making deposits in person!
   

• Other checks which may be deposited via direct deposit include federally-recurring checks, such as Social Security; and certain corporate payroll checks, utilizing electronic funds transfer. Your joint account owner may also deposit directly to his or her account. Ask your Payroll Department for details.

 Term Share Certificate Accounts (CDs)

• Term Share Certificate Accounts offer a wide variety of options for almost every investment need. Dividends are keyed to current market conditions, and generally, these rates are higher than those for Regular Share Accounts. The rate assigned at the time of purchase will remain fixed until your certificate matures. (see our current rates for term share certificates) .
   

• Please Note: Early withdrawal of certificate funds before the maturity date will result in a penalty. See your term share certificate agreement for details.

When you need to borrow, low rates are important and so are complete confidentiality, personalized service, and easy access to a helpful choice of loan products. The credit union will continue to consider expanding the existing loan services so please ask us for details. (see our current loan rates). Here are our most popular loan services:

• Vehicle loans

• Line-of-credit

• Signature loans

• Computer loans

• Mobile home loans

• Share secured loans

• Recreational vehicle loans

• Home Equity loans

• Home Improvement loans

Protect your credit rating and your finances by always prudently making loan decisions. Your good credit rating is something to guard throughout your lifetime.

Home Equity Loans can be for a maximum of $100,000 with a minimum of $3,000. The loan can be for up to 120 months depending on the dollar amount of the loan.. The loan will carry a fixed rate for the length of the loan. The property must be located in South Dakota. Home Equity loans do not apply to mobile homes. Loans will be secured by a first or second mortgage with Vermillion Federal Credit Union listed as a secured party.

Home Improvement Loans can be for a maximum of $25,000 with a minimum of $3,000. The loans can be up to 60 months depending on the dollar amount of the loan. Maximum advance on Home Improvement Loans will not exceed 100% of improvements. The Vermillion Federal Credit Union reserves the right to inspect bids and property improvements onsite. Homeowner's insurance, with Vermillion Federal Credit Union listed as loss payee, equal to or greater than the amount of the advance will be required on all home improvement loans at the time of closing.

• Savings Bond redemption or Savings Bond purchase

• Drive-up window:
       8am-5pm Monday through Thursday
       8am-5:30pm on Friday
       9am-12:00pm on Saturday

• Night depository

• Free notary public seal

• Fax services

• Photocopy services

• Postage stamps

• Financial counseling