FAQ's

Building Your Financial Future with First Service

THIS CREDIT UNION IS FEDERALLY INSURED BY THE
NATIONAL CREDIT UNION ADMINISTRATION
Share Insurance Tool Kit: www.ncua.gov/shareinsurance/index.htm

SAFETY FIRST

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Savings & Money Market Transaction Limitation Fees
As a reminder to our members, Federal Regulation D limits Savings and Money Market Account transfers and withdrawals to only six per month. Your credit union is required to set limits on accounts to stay within this policy.

• An Excessive Withdrawal Fee of $3 is charged for each Savings Account withdrawal (this includes transfers) that exceed six (6) transactions per month.
• An Excessive Withdrawal Fee of $3 is charged for each Money Market Account withdrawal (this includes transfers and checks) that exceed six (6) transactions per month.
  Free Checking Option . . . .we want to save you money!
  To avoid excessive withdrawal fees, we offer a free checking option with no transaction limitations and no minimum balance requirements.
  Open Your Checking At Any First Service Office and Receive Your First 50 Checks Printed Free!
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Regular Share Savings Account
This is your membership account. Only $50 is required to open your Share Savings Account and maintain membership. Share Savings Accounts accrue dividends on a daily balance method and are credited quarterly. A great way to save is through regular, automatic transfers from your Checking Account or Direct Deposit.

Super Share Account
As your savings grow and you start looking for an earnings advantage, a Super Share is your answer. Dividends for the Super Share are calculated on a daily balance method which applies a daily periodic rate to the balance in the account. Your Super Share dividend will be credited monthly on shares of $25,000 and greater.

Holiday Club Account
Take the worry out of your holidays by saving on a regular schedule thoughout the year. Just a little each pay will make your holidays easier. Your Holiday Club Account balance is automatically transferred to your checking account for your shopping convenience in mid-October.

Dollar Dog Club Account
For our youngest savers from birth to age 12, we offer a Dollar Dog Club savings program to teach our youngest members good savings habits. Dollar Dog Accounts can be opened with as little as $5 and earn dividends from $10. For each deposit make to a Dollar Dog Account, children select a gift from Dollar Dog's Treasure Chest. Surprise them each time they visit the credit union and teach them good savings habits. Dollar Dog Club Accounts automatically convert to Youth Savings Accounts at age 12.

Youth Savings Account
An account designed for young savers to age 16 that pays dividends on balances greater than $10. Youth accounts may be opened with $5 and must maintain a $10 balance. No other services are associated with these accounts that are intended to establish a lifetime savings pattern. At age 16, Youth Savings Accounts are converted to membership Share Savings Accounts that offer first-time checking, e-services and auto loans with a qualified co-signer.

Money Market Account
This account allows members to earn market rates on their investments with no dividend penalties for early withdrawal. A minimum of $2,500 is required to open the account and steps up to a higher rate with a balance of $10,000 and greater. There is no fixed investment period and this account allows six withdrawals per month. Rates are adjusted weekly with market trends and earnings are credited monthly.

Share Certificates
Fixed Term, Variable & JUMP
First Service offers a variety of Share Certificate options that allow members to invest funds over an extended, fixed period of time, with terms from three months to five years. Variable Rate Certificates are also an option with 24 and 36 month terms. A JUMP Certificate with a one time jump-my-rate option is available. Share Certificate rates can be found by selecting "Rates" in the left sidebar.

Health Savings Account (HSA)
First Service offers Health Savings Accounts (HSAs) with no administrative fees. The information provided is general and intended to answer the most asked questions about a Health Savings Account. Since this type of savings account is the responsibility of the account owner, we urge you to seek specific information from your employer, tax advisor or accountant.

How can an HSA benefit me?

• Dividends earned grow tax-free
• Reduced income tax liability
• Ease of opening an account
• Open with a low minimum of only $50
• Tiered interest rates reward your long term savings program
• Easy access to funds with HSA checks or an HSA debit card
• The money belongs to you as an employee. If you change jobs or move, the money stays in your account and goes with you to use on qualified medical expenses.

Dividend - The following rates were paid on Health Savings Accounts the last dividend period:

Click here for more Health Savings Account Question and Answers.

Individual Retirement Account (IRA)
First Service offers a variety of IRAs with no administrative fees to prepare for your financial journey to retirement.

Share Savings IRAs Open with a minimum of only $50 then make regular deposits while your money grows tax deferred.

IRA Certificates Requires a minimum initial deposit of only $500 to $1,000 depending on the certificate term you choose.

Click here for more Individual Retirement Account Question and Answers.

For specific terms and rates, please contact 614/836-0100 for a Truth In Savings Disclosure.