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.

  • 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

  • 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 $4 fee for each such transaction.


Line of Credit

  • Qualified borrowers pending credit approval 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.

 Loan Services

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:

  • Home Equity loans

  • Home Improvement loans

  • Line-of-credit

  • Member Business Lending (limited)

  • Mobile home loans

  • Mortgage Loan (Through 3rd party)

  • Online Applications

  • Recreational vehicle loans

  • Share secured loans

  • Signature loans

  • Vehicle loans

  • VISA Credit Card

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

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 within 250 miles of the credit union. 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 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.

 Special Services
  • ACH Origination

  • Audio Response

  • Bill pay

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

  • eStatement / eAlerts

  • Fax services

  • Financial counseling

  • Foreign currency

  • Free notary public seal

  • Mobile banking

  • Night depository

  • Online banking

  • Photocopy services

  • Postage stamps

  • Savings Bond redemption

  • Text alerts and balance inquiry

  • Viewing checks online

  • Visa and MasterCard cash advances

  • Wire transfers

105 East Cherry Street
Vermillion, SD 57069
Phone: (605) 677-5214
Fax: (605) 677-5449