SERVICES | MEMBERSHIP | APPLICATION
The field of membership of this credit union shall be members of any of affiliate churches and their family members including adopted children, siblings, parents of the member, daughter and son-in-law and grandparents. UBGFCU offers a Share Savings Account for all ages with a low membership fee of $5 and a minimum opening deposit of $5. Your minimum deposit entitles you to use all of the services of UBGFCU. To maintain the account in a active status and avoid an inactive fee a deposit should be made monthly or quarterly in any dollar amount. Electronic bill pay is especially convenient and easy ways for making deposits to accounts. Once you become a member, always a member – even if you move – as long as you keep at least the minimum balance in your account
USA PATRIOT ACT
To help the government fight the funding of terrorism and money laundering activities, Federal laws require all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account (deposit or loan), we will ask for your name, address, date of birth, and other information that will allow us to identity you. In addition, we will ask for valid government issued identification such as a driver’s license and may ask for other identifying documents. If your identification does not have your primary address on it we will ask you to supply that information to us in the form of an utility bill, rent/mortgage statement, or bank statement. The Following Forms of Valid Identification Are Acceptable for Transactions: Driver’s License Identification Card Military ID Card Resident Alien Card Passport
Individual: Upon death, the account passes as part of your estate under your will, trust, or by intestacy. If selected, do not complete the joint ownership section. Joint account with Survivorship: Upon the death of a party having ownership in the account, the deceased party’s ownership passes to the surviving party of the account. Joint Account without Survivorship: upon the death of a party having ownership in the account, the deceased party’s ownership is considered part of the decedent’s estate under the decedent’s will, trust, or by intestacy.
The credit union operates under the Federal laws and is supervised by the federal government. Government examiners inspect the books annually. The Supervisory Committee sends letters to members every two years verifying share and loan balances. The law requires surety bonding and substantial reserves to protect funds against operational hazards. Each member’s funds are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUA).
Dividends are paid annually when earnings permits, not to exceed 90% of the total income. At the end of the accounting period, after all expenses are paid and reserves are met, a dividend is declared. Share accounts must have a minimum balance of $100 to be eligible for dividends.