Regular Share Account: Your regular share account is insured
up to $250,000 by the National Credit Union Administration.
To qualify for any member service, you must maintain a $50 balance.
Should you leave the employment of CSHS, you may continue your membership
with the credit union. The Cedars-Sinai Federal Credit Union has
the policy, provided
that you continue being an active member.
Your regular share account will earn dividends on every dollar
over $1500 paid quarterly. Please verify what the current rates
are with the representatives of the credit union.
Deposits: You may deposit to your savings account with cash
or check or the most convenient way through payroll deduction. Payroll
deductions are posted to your account on the following Tuesday after
12:00 p.m. There will be a 2 day hold on deposits made with personal checks. Under certain circumstances, longer delays may apply. We will notify you if we delay your ability to withdraw funds, and we will tell you when the funds will be available.
Withdrawals: You may withdraw funds from your savings accounts
by receiving a check from the Credit Union either in person or by
mail. You may have someone else pick up a check for you by calling
ahead, and the person must also be a member of the Credit Union
or a joint member on your account.
Since your account is designed for systematic savings, withdrawals
are limited. You are permitted one withdrawal per calendar month.
Each withdrawal in excess of one per month will be assessed a charge
You may change or add beneficiaries to your account by filling
out a new Membership card. To change your beneficiary on the free
or voluntary AD&D (accidental death and dismemberment) insurance,
you must complete a form with the Credit Union so that it may be
forwarded to the insurance company.
Fees and Charges: You must maintain a balance of $50 in
your regular share account at all times. Failure to do so will result
in a service charge of $5 per quarter for each quarter the account
is below the required amount. Accounts with no activity for 12 months
will be considered dormant, and will be subject to a quarterly Dormant
Account Fee of $10. Please see our Fee Schedule for complete information.
Holiday Club Accounts: You may open a Holiday Club account
and have money transferred from your regular share account on a
monthly basis. The Holiday Club account earns dividends quarterly.
The Credit Union will cash out and mail you the checks on the first
Tuesday in November. Should you close Your Holiday account you will
not be able to re-open until the next enrollment period. OPEN ENROLLMENT:
From November 1st thru March 31st of each year.
Term Certificate: Term Certificate accounts
may be opened with a minimum of $700. The 6-month or 12-month
Term Certificate accounts earn higher dividends than the regular share accounts.
Current rates are posted monthly in the Credit Union office. Dividends
are posted at the end of each quarter. There is a $25 Early Withdrawal
Fee if you close the Term Certificate before the maturity date.