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Fee Schedule

 

Groton Municipal Employees  

Federal Credit Union (GMEFCU)  

 Fees Effective 1 November 2018

The following fees and transaction limitation amend your Account Agreement and Disclosures:   

  

  

Complementary Services  

  

SUM Network Nationwide ATM Transactions  

FREE (All other ATMs are not assessed a fee by

GMEFCU but may be assessed a fee by the ATM owner.)  

Debit Mastercard (initial issuance)  

FREE - requires draft account  

Debit Mastercard – lost/ destroyed  

1 FREE per year  

24 – 7 Debit card support  

FREE  

E-Statements (electronic statements)  

FREE - requires enrollment in online banking  

Online Banking  

FREE  

Online Bill Pay with Person-to-Person Pay  

FREE  

Teller / Phone Transfers  

FREE  

Mobile Banking  

FREE  

Mobile Deposit  

FREE  

MobiMoney App (to control debit card)  

FREE  

MobiMoney transfers between accounts  

FREE  

ATM transfers between accounts at SUM Network ATMs  

FREE  

Money Desktop (aggregate with accounts at other institutions)  

FREE  

Money Desktop App  

FREE  

Draft Transactions (checking)  

FREE  

Deposit of rolled coin  

FREE  

Loan Application  

FREE - except CASH NOW loan  

Home Equity Loan Processing/ Closing Cost  

*FREE  

  

  

Account Basics  

  

Account Opening - Fee   

FREE  

Account Opening – Par Value  

$25.00 Membership Share held as long as you remain a member.  

Account Closed within 6 months of Opening  

$10.00  

Check Order  

Varies by Member’s Selection  

Bad Address  

$5.00 per occurrence  

Account Maintenance per Member Request  

Account Balancing Assistance  

Account Research  

Subpoenas  

FREE balancing assistance up to 90 days -one time per year  

1 hour min $25 per hour  

Waived for members age 65 and older.  

Document Copy  

Statement – per month  

Cancelled Check – per check  

Deposited Check – per check  

Paid Credit Union Check – per check  

$5.00  

Account History Printout – per page  

$1.00  

Inactivity Fee - per month  

6 consecutive months in which no withdrawals or deposits, other than credited dividends were made to the account; combined balances are <$100. Account will be closed when it reaches zero.  

Fee is waived for account holder younger than 18 or the account holder has a loan.  

$10.00 charges begin 1st day of 7th month  

Dormant Account Fee  

24 consecutive months in which no withdrawals or deposits other than credited dividends were made to  

$10.00 charges begin 1st day of 25th month  

the account; combined balances are at least $100. Account MAY be escheated to the state at 3 years’ inactivity.   

Fee is waived for account holder younger than 18, age 65 and older, or the account holder has a loan.   

 

Escheat Fee  

None  

Legal Item Processing  

Levies, garnishments, executions  

$35.00  

Courtesy Pay Fee (per item)

Written check  

Preauthorized withdrawals   

Debit card transactions  

Courtesy pay is at credit union discretion. To be considered you must have an automatic deposit scheduled for the account.  

 Minimum overdrawn balance required to trigger a fee is $10.00  

Items paid subject to NSF fee of $35.00

Overdraft Transfer Fee from Savings  

FREE   

In combination with other transfers, limited to six per month per Regulation D.  

Nonsufficient Funds (per item)  

Written Check  

Electronic Item  

$35.00 each  

Returned Deposited Item  

$15.00 each  

Stop Payments (checks and ACH) – submitted in writing or verbally  

$35.00 each  

Money Order  

$3.00 each  

Official Check to account holder  

$5.00 each  

Waived for members age $65 and older.  

Official Check to third party  

$5.00 each  

Verification of Deposits  

$10.00 per request  

Debit Card Replacement after 1st free per year  

$15.00  

Debit Card Rush Replacement  

$50.00   

Wire Transfers  

  

Domestic Wire Transfer Outgoing  

$20.00  

Domestic Wire Transfer Incoming  

FREE  

Loan Fees  

  

Loan Application  

FREE except CASH NOW loan  

Home Equity Loan Processing/ Closing Cost  

*FREE     

Late Loan Payment Fee  

$20 after 15 days  

Skip- a-Pay  

$30 per loan per member request (restrictions apply)  

Cash Now Loan   

First loan application fee $20.00, subsequent loan application fee $10.00  

* Some Restrictions Apply