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Frequently Asked Questions
Savings

 

Is there a minimum balance for my savings account?

Is there a minimum balance for my money market account?

Can I verify the maturity date of my certificate? 

Can I change the term of my certificate?

How do I renew my certificate?

What is the penalty for withdrawing my certificate before maturity?

Can I have a portion of my paycheck automatically deposited into my savings account?

 

Is there a minimum balance for my savings account?

Yes.  A $5 minimum balance must be maintained in the account.  We encourage you to maintain a balance of $100 or more in order to earn dividends.  If the only account you have with us is savings and the balance is below $100, there is a nominal monthly maintenance fee.

 

Is there a minimum balance for my money market account?

No.  However, a minimum balance of $2,500 is required to earn dividends.  If the account has a zero balance for six months, the account will be closed.

 

Can I verify the maturity date of my certificate? 

Yes.  Simply log into BranchLine at left.  Under the View Accounts tab, select Account Activity.  The Account Details box at the right will list the maturity date, interest rate and year-to-date interest on your certificate.  We will send you a maturity notice 15 days before the certificate matures.  Unless otherwise directed, your certificate will automatically renew for the same term at the prevailing dividend rate.  You can make any changes to the certificate up to ten calendar days after the maturity date.


Can I change the term of my certificate?

Yes.  Upon maturity, you can designate a new term for your certificate.  Login to BranchLine at left.  Under the View Accounts tab, select Account Activity.  In the Maturity and Dividends Posting Options box, you have the option to renew your certificate at the same or a different term and also have the ability to choose where to send your dividends.  You may also send written instructions or call a member service representative at (888) 858-6878.

 

How do I renew my certificate?

Unless otherwise directed, your certificate will automatically renew for the same term at the prevailing dividend rate. You can make any changes to the certificate up to ten calendar days after the maturity date.  Login to BranchLine at left.  Under the View Accounts tab, select Account Activity.  In the Maturity and Dividends Posting Options box, you have the option to renew your certificate at the same or a different term and also have the ability to choose where to send your dividends.

 

What is the penalty for withdrawing my certificate before maturity?

If your certificate is invested for 24 months or less, the penalty is the lesser of actual dividends earned from the date of issuance or 90 days of dividends. If the term of the certificate is longer than 24 months, the penalty is the lesser of dividends earned from the date of issuance or 180 days of dividends.  If you need immediate access to the funds, we may be able to offer you a certificate-secured loan.  This will allow you to retain your certificate and avoid the penalty for early withdrawal.  For IRA certificates, please consult your tax advisor for possible tax implications.  For more information, please call a member service representative at (888) 858-6878.

 

Can I have a portion of my paycheck automatically deposited into my savings account?

Perhaps.  Your employer may be able to make a payroll deduction directly from your net paycheck to your savings account.  They may also offer direct deposit to multiple financial institutions.  If they do not offer these services, you can complete and return an Authorization Agreement for Pre-authorized Payments form to have a deposit come from a checking account at another financial institution. 

Mail to:
Pacific Service Credit Union
P.O. Box 8191
Walnut Creek, CA 94596
or
Fax to:
Attn: Electronic Services
(925) 609-5159
 

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