Accounts & Savings

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We have a wide array of savings tools from your traditional savings account to checking and money market accounts. You can open an account in any of our branch offices in just a few minutes time or apply online at our Membership Info section. Special conditions may apply.

Share Savings Accounts
A Share Account works just like any regular savings account, and is an easy way to save and it pays competitive dividends.

Learn More about Share Savings Accounts
A Share Account works just like any regular savings account. A UFCU Share Account is an easy way to save and it pays competitive dividends. Maintaining a share account with a minimum balance of $25 is a requirement for membership in the credit union. All members must open a share account.A deposit of $25.00 is required to open a Share Account.
A balance of $100.00 or more will earn dividends.
Dividends are calculated on the Average Daily Balance and paid quarterly.
Members can make regular deposits by Payroll Deduction, or Direct Deposit, at a teller window, through a mail-in deposit, or the night depository.
Regulation D rules apply

Additional (Auxiliary) Share Accounts can be opened under the primary account number. This is an additional savings account which earns the same rate of interest as the basic or required share account. A member can open multiple auxiliary savings accounts.

Share Draft (Checking) Accounts
The Ulster Federal Credit Union offers its members share draft (checking) accounts, that do not have the fees associated with accounts in other financial institutions.

Learn More about Share Draft (Checking) Accounts
The Ulster Federal Credit Union offers its members share draft (checking) accounts, that do not have the fees associated with accounts in other financial institutions. Our share draft accounts offer the following advantages:NO monthly service or per check charges.
NO minimum balance requirements.
Instant record keeping with carbonless copies of each share draft written.
Value priced checks with many designs from which to choose – plus free starter checks.
Direct deposit/payroll deduction to be arranged through your employer.
Overdraft protection through your share (savings) account or by an easy to obtain Overdraft Line-of-Credit.
VISA CheckCard or ATM card. Money accessible at ATMs worldwide through NYCE, PLUS, and CO-OP networks. Participation in surcharge free ATM networks.
SMARTline, the credit union’s Automated Response Teller enables you to access your accounts and perform telephone transactions 24 hours a day, 7 days a week.
UFCU’s Quick Click Online Banking Service enables you to access account history and perform basic transactions 24 hours a day, 7 days a week.
Bill Payer allows you to pay your bills online without the hassle of stamps, or going to the post office.
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

Club Accounts
Our Holiday Club Account is a perfect way to save for holiday expenses through payroll deduction or other regular deposits.

Learn More about our Club Accounts
Our Holiday Club Account is a perfect way to save for holiday expenses. Through payroll deduction or other regular deposits, members can save systematically and painlessly to have money available when it is most needed. Some features of our Holiday Club account are as follows:A Holiday Club account can be opened any time of the year.
Minimum opening deposit is $1
Automatic payments through Payroll Deduction, Direct Deposit or an automatic transfer from your savings or checking. Deposits can also be made through a teller or a mail deposit.
Deposits can be as low as $1.00.
Money is automatically rolled over to your share account the first week in October
Club accounts with at least $100 earn quarterly dividends.
Withdrawals are discouraged. There is a $10 fee for each withdrawal, but the account remains open and deposits can continue to be made. There are no penalties for not completing the Holiday Club.
When the Holiday Club account is paid via payroll deduction/direct deposit and is not closed early, it will automatically renew year after year.

A Vacation Club has the same basic features as the Holiday Club Account.

A Vacation Club account can be opened any time.
Minimum opening deposit is $1
Automatic payments through Payroll Deduction, Direct Deposit or an automatic transfer from your savings or checking. Deposits can also be made through a teller or a mail deposit.
Deposits can be as low as $1.00.
Club accounts with at least $100 earn quarterly dividends.
One withdrawals per quarter is allowed. There is a $10 fee for additional withdrawals in one quarter, but the account remains open and deposits can continue to be made.
The Vacation Club account remains open until the member asks to have it closed.

Money Market Accounts
Ulster Federal Credit Union’s Money Market Account is a savings account that requires a higher minimum balance than a regular share savings account.

Learn More about our Money Market Account
A Money Manager account works just like a regular Money Market account, but with the following differences:

  • The minimum deposit to open a Money Manager Account and earn the Annual Percentage Yield (APY) is $2500.
  • Rates are tiered and based on minimum balance.
  • A Money Manager account has a variable rate, with dividends compounded and credited monthly.
  • A Money Manager account has no interest penalty for early withdrawal.
  • A Money Manager account has no sales charges, commissions or fees.

Share Certificates
Share Certificates or C.D.’s pay a higher rate of interest than regular share accounts.

Learn More about our Share Certificates
Share Certificates or C.D.’s pay a higher rate of interest than regular share accounts. Share Certificate features are as follows:Share Certificates can be opened at any time with a minimum deposit of $500
Terms are 3 months, 6 months, 12 months, 18 months, 30 months, and 36 months
A penalty is incurred if the certificate is cashed in before the term ends
Like all other credit union accounts, certificates are insured.

 

 

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