Savings / Checking

Legacy is our new check vendor. As a result of this change, your check order will need to be placed by calling the credit union at (313) 584-5400 and providing the starting number of your checks. Once this initial order is placed you will be able to re-order through this link. Thank you.


Savings

All accounts (including Certificates of Deposit) are insured up to $250,000 by the NCUA, an agency of the Federal Government.

To be a member and maintain any account at the credit union you must purchase one share in the credit union. The par value of a share is $5.00.  There are no low balance fees assessed if you maintain at least $300.00 combined average balance in all share or certificate accounts, have direct deposit coming to the credit union or have any loan mortgage or Visa Credit card with the credit union.  For a list of how to avoid fees, click here.  Dividends are computed daily and paid quarterly. For a complete truth in savings disclosure on this account, click here.  Most of our disclosures have been updated.  Please see Melissa for the current disclosures.

Christmas Club

The Christmas Club is a separate account of the primary account that gives members the opportunity to save for Holiday expenses. This account is not available for withdrawal at any time before November 1st of each year without penalty.  On November 1st of each year the balance will be deposited into you Savings Account automatically. Once an account is closed, it will not be opened

Special Share Account

The Special Share Account is a sub-deposit account of the primary account that gives members the opportunity to establish an account for any reason they would like. This account is available for withdrawal, without penalty. Dividends are computed daily and paid quarterly.

Money Market Account

The Money Market account is a liquid, high yielding account that gives members opportunity to earn a higher dividend rate. This account is a tiered rate account that earns higher dividends as the balance increases. Dividends are computed daily and paid monthly. A minimum balance of $1000 is required to open this account. For a complete truth in savings disclosure on this account, click here.

Certificates of Deposit

Our Certificates of Deposits (CDs) have terms that range from 3 months to 5 years. Dividends are computed daily and paid monthly. Minimum deposit required is $500. For a list of our current rates, click here. For a complete truth in savings disclosure on this account, click here.

Checking

Features of our Village Community Credit Union Checking Account are listed below.

  • No minimum balance requirements.
  • On line check copies available on your It’s Me 247 Internet Banking Account
  • No per check transaction fees.
  • Worldwide access to your account through your ATM/Debit card at over 30,0000 terminals
  • Point-of-Sale Debit Card purchases wherever MasterCard is accepted.
  • Carbonless check copies.
  • Free monthly e-statements.
  • Free Internet Banking access.
  • Free Bill Payment Accounts.
  • Overdraft protection through our Line of Credit.

To avoid a monthly fee simply maintain a $300 average account balance, have direct deposit sent to your Village Community Credit Union Account, or if you have any loan, mortgage or Visa Credit Card with the credit union you will not be charged a monthly maintenance fee.

Questions Members Frequently Ask About Checking Accounts

How do I switch to a different checking account?

If you want to switch, you need to notify us. You can do that in any one of three ways:

  • Complete our online form
  • Call Member Service at 313-584-5400
  • Visit either one of our offices

I have a checking account at another financial institution. How do I switch it to Village Community Credit Union?

Our online Easy Switch Kit provides the forms you need to switch your account from another financial institution to Village Community.

Can I get overdraft protection on my free checking account?

Yes, that feature is part of our free checking account service. You will need to contact the credit union to make arrangements for activation of your Overdraft Line of Credit.

Can I eliminate the fee on my Checking account?

You can avoid the monthly fee in any one of the following ways:

  • Keep a minimum of $300 in your Checking account
  • Sign up for e-statements
  • Have an outstanding loan at Village Community Credit Union
  • Have A Village Community Credit Union VISA Platinum Card
  • Have your Mortgage at Village Community Credit Union

Is my Checking account a deposit account?

Unlike your Savings account, your Checking account is a deposit account. It allows unlimited transactions, transfers, ACH and ATM withdrawals ATM made through this account.

Can I receive my canceled checks back in the mail?

Because returning canceled checks is cost-prohibitive, our corporate processor scans each canceled check and keeps the image on file. These scans are accepted as proof of payment. For your protection, the original is destroyed soon after scanning. You can request copies of checks by calling the credit union.

 What if my checkbook balance differs from my statement balance?

If you believe Village Community Credit Union made an error regarding your account, please let us know, and we will research the discrepancy. We want you to be certain your account is correct.

Why should I use blue or black ink when writing checks?

When we scan your canceled check for our files, the only ink colors that reproduce properly are black or blue. If you use a color like red or purple to write your check, the scanned image will appear to be a blank check.

 What if a check clears for the wrong amount and/or check number?

Call a Member Service Representative at the credit union at (313) 584-5400. We will review the scanned image of the check and make the correction.