Announcements:

As of July 1, 2008;
Accounts over $2,500.00 earn 1 1/2% dividends
Accounts below $2,500.00 earn 1% dividends

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Insured Funds

Savings are insured up to $100,000 by the FDIC and loans up to $30,000 by CUNA.

Membership Requirements

Any Xavier University employee, retiree or their spouse and dependents is eligible for membership. A minimum $25 deposit is required.

Service Charge

A $10 service charge will be assessed for all withdrawals in excess of four per month.

Dividends

Only active accounts over $50.00 earn dividends. Inactive accounts do not receive dividends. Dividends are usually declared and posted quarterly. Please contact the Credit Union, at 504-520-7394 or 504-520-7640, for current Dividend information.

Inactive Accounts

All accounts that have been inactive for more than one year and have a balance of $50.00 or less will be removed from Share Balances and placed in a liability, in active account. These accounts do not earn dividends.

Interest Rates on Loans (beginning July 1, 2007)

1. Maximum Personal Loan of $5,000.

8% - Loans Up to 24 Months with a Debt Ratio of 30% or less..
9% - Loans Up to 60 Months with a Debt Ratio of 30% or less..
14% - Loans Up to 60 Months with a Debt Ratio Above 30%

2. Share Personal Loan

4% - Loans Up to 60 Months; Maximum Loan Amount is Share Balance.

3. New Car and Truck Loan

6% - Loans Up to 60 Months, with a 15% down payment in the form of cash or trade in. 2 year membership.

*Note: All loan applications that are denied credit by the Credit Committee can be appealed to the Board. The appeal must be made in writing.