We offer a $100 - $500 overdraft line-of-credit to provide members with an alternative to overdrawing their account or being hit with "NSF" (insufficient funds) fees. However, this only works if members routinely pay down their overdraft LOC balance. Our overdraft Line-of-Credit is payable at the end of each month with a $20 minimum payment. This is a helpful way for members to establish credit as well as provide them with a cushion when using their debit card. The line-of-credit is a revolving account, much like a credit card balance. There is a fixed rate of 13% APR on our Overdraft LOC. A larger line-of-credit is available, based on the following credit scores:
|A+ 740 and Up||$10,000|
|A 680 - 739||$10,000|
|B 640 - 679||$7,500|
|C 600 - 639||$5,000|
|D 550 - 599||$2,500|
|E 549 and Less||$2,500|
Our Members make the difference.
Member Since 1982
"I've been a member since the Credit Union was just Dave Knoll with a cardtable in the hallway of the old Genesee Coop on Saturday mornings. I've never been tempted to go anywhere else since that time, even though I now live thirty miles away. I like dealing with nice staff who know my name, who are eager to help, and who are dedicated to financial literacy and empowerment. Plus, it's good to know that my money is being used to invest in people rather than fill the pockets of the wealthiest.
In addition to savings and checking I've turned to the credit union for debit cards, line-of-credit, auto financing, on-line banking, and a home mortgage. I've now financed at least four cars through the credit union, and I've successfully encouraged friends to do the same.
One of my boldest statements ever in the face of raw financial power was when the car dealer required me to sit through a presentation on their financing. My response: "I'm a loyal credit union member, and I'll stick with it even if you offer me zero percent. If I ever get in trouble, the Credit Union will help me work it out, but you guys'll just send the collection agent after me." The guy just gulped and that was that.
And I don't want to forget to mention that as a Credit Union member I get to vote. Real democracy - awesome!
Genesee Co-op Federal Credit Union - it's the best deal in town!"