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Checking
CHECKING Check Reorder
Our regular checking account or share draft account requires no minimum balance or monthly maintenance fee. The cost of checks varies depending on the style selected. Business checks are available at a higher cost. See styles/rates for more information.
You will receive a monthly statement from USSCO listing all transactions in your account. If you require your checks back, there is a fee of $.20 per check. If you need a copy of a check, we can obtain it for you at a cost of $4.00 per check or you can download a copy yourself through Home Banking for FREE.
USSCO offers overdraft protection on the regular checking account. There is no fee to sign up for the service. If the computer needs to transfer funds from a savings account to cover the check, there is a $1.00 fee. If you do not have overdraft protection, the cost is $5.00 per transfer. Sign up today. Even the most careful person can make a mistake.
SHARE DRAFT PROCESSING
Do you ever write share drafts before payday, figuring that by the time they get cashed, the money will be in your share draft account to cover the cost? If so, you will find that new technology, especially electronic check (share draft) processing, has shortened the span between the time a share draft is written and the time it clears. This span of time is referred to as the "float".
We will process share drafts after close of business each day. At that point, the item will either be paid or will be returned.
With the government encouraging the broader use of electronic
processing, the days of playing the "float" are quickly floating away. The next share draft you write might be deducted from your account as quickly as an ATM withdrawal!
MONEY MARKET
USSCO has an interest bearing checking account for those members wishing to carry larger balances in their checking account. Our account is unique in that we have no monthly fee and no limit to the number of checks you may write per month.
Monthly Dividends posted on balances of $2500 and over. Interest rate is calulated by using the 1-year Constant Maturity Treasury Bill as of the 15th of the preceeding month plus .75%.
Rate for November 1-November 30, 2008 is:
APR - 1.89%
APY -1.91%
