How to open a CU account
What do I have to do to open an account at my credit union?
There are three requirements:
- Belong to the defined group, called “Field of Membership”*
Complete and show
- Deposit one share ($10) and keep it on deposit
Field of Membership
*These people and groups can join our CU
- Employees and enrolled members of the Bois Forte Band of Chippewa
- Employees of Nett Lake School ISD #707
- And, spouses of persons who died while within the field of membership
- Employees of this credit union;
- Persons retired as pensioners or annuitants from the above employment;
- Members of the immediate family or household
- Organizations of such persons
Who can use CU?
Who is allowed to use credit union services?
Lots of people are eligible to join the credit union by opening an account. Opening an account makes you a member. Once a member, always a member even if you leave the group you can keep your account open. Membership in our credit union is required to use your services.
What kinds of deposit accounts can I open at our credit union?
Savings, also called shares
Special savings accounts – a separate savings for any goal you have
Certificates of Deposit – terms and rates vary from time to time so ask a MSR
Checking accounts are coming, no date set yet.
Federal Deposit Insurance
Are my credit union deposits insured by the Federal Government, like bank deposits are?
Yes, up to $250,000 per account. For more information about credit union deposit insurance you can see, or print, a brochure “Your Insured Funds” at http://www.ncua.gov/Legal/GuidesEtc/GuideManuals/NCUAHowYourAcctInsured.pdf