DEFENSE CONTRACTS SOUTH FCU

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SERVICES

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SHARE ACCOUNTS

The Credit Union pays quarterly dividends directly to share accounts on the first day after quarter end.  The dividend rate is declared by the Board of Directors in the last month of each quarter. 

Generally, dividend rates are divided into three categories:

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Accounts to $499

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Accounts from $500 to $1999

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Accounts $2000 and up

Contact the Credit Union or go to the newsletter site for the latest dividend paid.

Dividends begin to accrue on cash and non-cash deposits on the business day your deposit is made.

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PAYROLL DEDUCTION PLAN

Payroll deduction is one of the best benefits available to DCSFCU members.  The plan automatically deposits money to savings account(s) and/or pays on your loan(s).  To participate in this plan, complete a standard form 1199A (Direct Deposit). Department of Defense employees can go to form flow to download the form.

Savings

A good savings plan is to pay yourself first each payday.   Payroll deduction does this for you without  hassle.

Loan Payments

Payroll deduction can actually decrease the amount of interest you pay because the Credit Union computes interest on the number of days between payments and payroll deduction payments are made every 14 days.  

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INSURANCE

Accounts

The National Credit Union Administration (NCUA) insures your accounts up to $100,000 per member.  The Credit Union operates under Federal regulations with a minimum of one audit per year.  Additionally, the Credit Union's Supervisory Committee performs an annual audit.  The Credit Union is bonded against robbery and embezzlement.

Loan Protection

The Credit Union provides life insurance on loans at no cost to the member.  This insurance will pay off loan(s) up to a maximum of $10,000 when an individual less than 70 years of age dies.

No insurance is offered on loans age 70 and older.  

Fee Schedule and Truth in Savings Statement

 

E-mail the the Credit Union at dcsfcu@wt.net

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Important information about procedures for opening a new account