SAVINGS ACCOUNTS

REGULAR SAVINGS OR SHARE ACCOUNT — This account is the first step to membership in Meridian Mutual. A minimum deposit of $15.00 is required -- $5.00 will remain in your account and $10.00 is a non-refundable processing fee. To obtain dividends you must maintain a $100 balance in your account. Dividends are calculated on the average daily balance and are paid quarterly once declared by the Board of Directors. You are allowed 2 withdrawals per month with no penalty. Once you have opened the share account all of the other services of the credit union are available to you. There is no waiting period for the additional services.

VACATION CLUB OR SPECIAL SAVINGS — Let Meridian Mutual help you plan for that special vacation or big item purchase. There is no minimum balance requirement for these accounts, however in order to obtain dividends you must maintain a $100 balance in your account. Dividends are calculated on the average daily balance and are paid quarterly once declared by the Board of Directors.

CHRISTMAS CLUB — At least once during the year we all have a need for some extra cash—Christmas time! If you’re like most people, it isn’t always easy to set enough money aside ahead of time to cover these expenses and we usually end up putting these costs on a high interest credit card. Let Meridian Mutual help plan for these expenses by opening your Christmas club account. It can be opened at any time. Dividends are calculated on the average daily balance and are paid quarterly once declared by the Board of Directors. For your convenience, the funds are transferred into your share account on October 1st.

CERTIFICATES — When your savings have grown, or if you have an additional amount to invest, you may be ready to take advantage of a share certificate. A minimum balance of $1,000 is required and terms of 6, 12, 24, 36 months are available. Rates are competitive and change weekly. Dividends are paid at maturity or monthly to your share account.

IRA ACCOUNTS — A successful and enjoyable retirement requires the vision to plan for your future now. An Individual Retirement Account will help fulfill your vision of a happy retirement and help decrease your tax burden now. Meridian Mutual offers an IRA Certificate with the same rates and terms as the regular certificates. Also offered is an IRA Club account—dividends are declared and posted monthly based on the average daily balance.

CHECKING ACCOUNTS
Our checking account is one of the best examples of credit union value.
There is no minimum balance requirement, no monthly service fee, and no limit on the number of checks written per month. The only thing that we request is that you purchase your first box of checks from us. We use a duplicate check design, which gives you a copy of every check you write for easy record keeping. We can provide a copy of the cleared check for a nominal fee. You will receive a statement each month indicating the number and amount of each check that cleared your account that month.
We also offer a VISA debit card that can be used as a paperless check. The funds will be debited directly from your checking account.

An overdraft protection is offered with withdrawals from your share account to cover the insufficient amount. There is a nominal fee for this service.

LOANS
Meridian Mutual is a risk-based lender. This means that the better your credit rating the better the rate you will receive. Even if you have had problems with credit in the past Meridian Mutual may be able to help you. At Meridian Mutual the rates are competitive, the loan application process is quick and convenient, and the service you’ll receive is friendly and efficient. We make the borrowing easy. You can usually have a loan decision on the same day you submit your application.

VEHICLE LOANS—NEW AND USED — Searching for just the right vehicle can be extremely time consuming. Don’t waste additional time searching for a place to finance your loan. Terms can vary up to 60 months with full financing—100% of the selling price or 100% of the NADA retail book value which ever is less. Check the rate schedule for current rates.

RECREATIONAL VEHICLES—NEW AND USED — Dreaming about a new boat or perhaps a motorcycle--Meridian Mutual offers the same rates and terms for these items as vehicle loans. Check the rate schedule for current rates.

SIGNATURE LOANS — Meridian Mutual can provide you with the cash you need….fast! A signature loan is an unsecured personal loan. Use your signature loan for bill consolidation, major purchases or unexpected expenses. A signature loan is a fixed rate loan with low monthly payments and up to 3 years for repayment. Check the rate schedule for current rates.

NEW FURNITURE AND APPLIANCES — Meridian Mutual has the loan for you! In need of a new refrigerator or maybe a computer--check with us for a fixed rate, low monthly payment loan. Check the rate schedule for the current rates on these loans.

FULLY SECURED LOANS — A fully secured loan is one that is secured by the funds you have in either your share account or in a certificate. The rate for a fully secured loan will be 3% above the rate of dividend being paid on the account.