Savings Accounts
The minimum balance needed to open and maintain an account is $5.00. Dividends are computed daily and paid quarterly on all share accounts. Dividends will be forfeited if the account is closed before the accrued interest is posted.

• Regular Shares is the basic savings share on all Credit Union accounts.
• The Second Share savings account helps you keep track of funds for a special purpose.
• Christmas clubs are transferred the 1st week of November.
• The Tax Club is a separate account to help you prepare for tax payments.
• The Vacation Club provides a way to save for vacation travel.
• The Energy Reserve account can help you prepare for the high cost of New England weather.
• Individual Retirement Accounts are available for your future.

Multiple withdrawals in excess of four(4) per month are charged $2.50 per check in an attempt to discourage  too many withdrawal transactions . This does not pertain to Share Draft accounts or to transfers to Share Draft accounts.

Share Drafts (Checking) Accounts
There are No MONTHLY MAINTENANCE FEES on Share Draft accounts. You pay only for the cost of printing your checks and as a new share draft account holder you receive the first 50 checks FREE.

We use Duplicate Checks so you will not receive your canceled checks back, but you will receive a Monthly Statement showing all transactions. The statement will show check number, amount paid and date paid for each draft that has cleared your account. In addition, it is possible to order a copy of any Draft which has already cleared should you need it. See fee schedule below.

You can make deposits to your share draft account in person, through the mails (in-house or U.S. ), or via payroll deduction. You can call us, stop by, use Access 24 System, or Home Banking to find out what checks have cleared and to get a current balance. There are No FEES for these services. You can also request transfer deposits without fees, however, due to Federal Reserve requirements, transfers are limited to three per month.

Our share draft accounts are set up so that in the event of an overdraft, if sufficient funds are available in the regular shares, the necessary amount will automatically pull to cover the draft. See fee schedule below.

Share Draft items which incur a fee are:

1. Overdraft of account, NSF check (insufficient funds) $27.50
2. Stop payment (this fee only comes into play if and when the check is presented for payment) $10.00
3. Microfilm copy of processed check $5.00
4. Automatic transfer of funds from Regular Shares to Share Draft account to cover insufficient funds $2.00
5. Return Items from deposits $10.00
6. Copy of statement $5.00

If you need assistance in balancing your account or wish to be shown how to balance a checking account we will be happy to give you the help you need. There is no charge for this service the first time, however, there is a $15.00 per hour charge for further check book balancing assistance.

Notary Public
You never think about it until you need one and when you do it’s of the utmost importance. That’s why your Credit Union offers you this service at NO CHARGE.

Payroll Deduction
This is the most convenient method for making your Credit Union deposits. However, if you are out on disability or going on vacation, check with us regarding your payroll deduction status.

Car Cost Guide
For New and Used Autos. Look at the latest prices online at NADA.COM.

Direct Deposits and Withdrawals
These can be handled via Electronic Funds Transfer. Stop in or call us for further information.

Loans, loans, loans!!!
Your credit union has PERSONAL LOANS, NEW and USED CAR LOANS, HOME EQUITY LOANS, FROZEN SHARE LOANS and CREDIT LINES to make your life easier. You must be a member to apply for a secured loan and a member for a full year to apply for unsecured loan. So join today and you’ll have your eligibility requirement met when you need that loan.

Are you looking to purchase a new home. The credit union has a new agreement with Northeast Mortgage offering first mortgages. Call the credit union to get details on how to get started. (860) 278-7850 Ext 3461.

Your credit union also makes STUDENT and Parent Loan applications available to you.

Don’t let outstanding financial obligations get the better of you. Come in to discuss them with us and perhaps we can help you CONSOLIDATE those debts into one easily managed loan.

Insurance on Your Loans
Credit Disability Insurance is a small charge added to your loan balance which protects you from temporary disability. We provide Loan Protection Insurance at no direct cost to you. Ask for details.

Life Insurance on Your Savings
The credit union carries life insurance to match your shares deposited before the age of 55 and on a decreasing basis following age 55. The maximum benefit is $2,000.00 and there is no cost to you.

Statements
Monthly statements are issued for Share Draft accounts only. Quarterly statements are issued for all Share accounts.

We're Here to Serve You
For your convenience loans are reviewed within 24-48 hours of being received.

Most MDC locations have a Credit Union Representative to assist you with new membership, payroll and loan application paperwork which they have on hand. If you don’t know who represents the Credit Union at your location, give us a call.

Daily inter-office mail delivery of deposits and withdrawals as a convenience for you.

Credit Union hours are 7.30am to 3:00pm. However on Tuesdays the credit union opens at 9:00AM. We are here until 4:00pm daily to assist you and transactions after 3:00pm are posted as the following business day.

Don’t forget Credit Union Membership extends to all full time employees and their immediate families. Your immediate family consists of anyone who is related to you by blood, adoption and marriage. Sign up to be an MDECU member today.

Did you know...?
That at no direct cost to you, your Credit Union provides Life Savings Insurance to match your shares deposited before age 55 and on a decreasing basis after age 55. The maximum benefit payable is $2,000.00.

Need Extra Cash to Pay Those Credit Cards Off?          Holiday Loan Special

Special Unsecured Loan Offer
12 months 8.50%, 24 months 9.50%
36 months 10.50%, 48 months 11.00%
60 months 11.50%
Up to $15,000.00 New Money Only

Vehicle Loans

Home Loans

MDECU VISA® Check Card

EFT Terms and Conditions