Membership at BVFCU starts with a $5.00 deposit to a regular share account. This is your primary savings account, and allows you access to all other services offered by your credit union. Dividends are declared quarterly from earnings of the credit union. Dividends are calculated by the average daily balance method and are paid and compounded quarterly.
Deposits can be made in person, by mail, through direct deposit or payroll deduction, or via audio response transfer.
All deposits are federally insured by the National Credit Union Administration (NCUA), a U.S. Government Agency.
CHRISTMAS CLUB
BVFCU's Christmas Club accounts are continuous. A minimum deposit of $1.00 will open your account. Automatic transfer of balances is performed after September 30th dividends are posted. You can elect to have the funds transferred to your regular savings or checking account. This direct transfer feature eliminates the wait for check processing and makes Christmas shopping money available immediately. Dividends are declared and calculated the same as your regular share account.
Deposits can be made in person, by mail, through direct deposit or payroll deduction, or via audio response transfer.
Following the transfer on October 1st, withdrawals can be made in person, by mail, by writing a check, or at any ATM bearing the Visa logo with your BVFCU Check Card.
VACATION CLUB
Vacation club accounts earn dividends the same as your regular share account. There is no minimum deposit and your vacation club is continuous. You choose when to withdraw from this account, up to twice per calendar year.
Withdrawals can be made in person, by mail or transfer to your BVFCU checking account. You can then write a check or withdraw cash at any ATM bearing the Visa logo with your BVFCU Check Card.
When withdrawing from your vacation club, we offer American Express Travelers Cheques at no cost to you.
Deposits can be made in person, by mail, through direct deposit or payroll deduction, or via audio response transfer.
BVFCU offers accumulative IRA accounts. There is no minimum deposit and dividends are calculated and paid the same as your regular share account.
If you are not covered by a company-sponsored pension plan, an Individual Retirement Account (IRA) can lower your yearly tax bill. You can contribute up to $2,000 individually or $4,000 if you are married and only one spouse is working.
If you are covered by a company-sponsored pension plan, are single, and earn less than $30,000 AGI a year, you may contribute up to $2,000 a year to an IRA and deduct the total contribution on your tax return. For married couples, the tax deduction is allowed if the combined AGI is less than $50,000 a year.
Save what you want, when you want. A deposit of only $5.00 will get you started in an IRA plan. All interest is tax deferred.
Deposits can be made in person, by mail, through direct deposit or payroll deduction, or via audio response transfer.
SHARE CERTIFICATES
Your credit union offers time-deposit accounts at very attractive rates and terms. A minimum of $500 will purchase share certificates with terms from 91 days to 48 months. Dividends are paid and compounded quarterly on 12 - 48 month certificates and paid at maturity on 91-day and 6-months certificates; you can choose monthly dividend payments on deposits of $5000 or more on 12 - 48 month certificates (excluding "special" term certificates). Check our Savings Rates. Share certificate rates are subject to change weekly and are posted in our branch lobbies, on our Information Hot-Line and at this website every Tuesday.
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