Payroll deduction is available for members. By completing and signing a few cards, automatic deductions for savings, checking, and/or loan payments can occur. When you choose payroll deduction, you decide how much you want deducted per pay period, and what amounts should be deposited or credited to specific accounts.
Overdraft Protection – Share Draft Account
If you accidently overdraw your Share Draft account, we will automatically transfer funds from your Share account to cover the draft in increments of $100 sufficient to permit the Credit Union to honor such a share draft plus a nominal fee. You must have an available balance in your Share Account to cover the transfer. Overdrafts beyond uncommitted shares will result in the draft(s) being returned unpaid for Insufficient Funds (NSF) and an Insufficient Funds (NSF) fee will be charged.
Summer Pay Deductions
FERKO pays you dividends on your summer pay deductions. We’ll send you checks when you want them all during the summer. Call us today to help us help you get ready for summer vacation!
Life Savings Insurance
FERKO provides Life Savings insurance on deposits up to $4,000.00. The amount of insurance depends on the age of the member at the time of the deposit. Call the credit union at 301-662-7266 for specifics on this insurance benefit.