Deposit Accounts
Genesee Co-op FCU offers a variety of deposit accounts including:
- Basic Member Share/Savings Account
- Share Draft/Checking Account
- Club or Special Savings Accounts
- Peace Accounts
- Share Certificates of Deposit
- Insurance & Investment Services
Basic Dividend Earning Share (SAVINGS) Accounts
Every member must open a Member Share savings account. The minimum balance is $5.00. We do not assess a low-balance service charge as long as the $5.00 minimum remains in the account.
Genesee Co-op FCU does pay dividends (interest) each quarter on the Member Share account when you maintain an average daily balance of $25 dollars or more. Click to see our current savings rates.
Statements are issued quarterly, unless the member has a Share Draft account which results in a monthly combined statement.
| Earn 3% APR on the first $500 in Savings at the CU!! |
| We have a special incentive to encourage our members to use E-STATEMENTS All member accounts with online banking E-Statements receive a 3.00% APR dividend on the first $500 in their Member Share account. This is our way of saying THANKS for helping us save money on postage, mailing costs and save trees as well! This Service allows members to receive their statements via a secure internet connection. To sign up for this service please click the account login link in the upper right corner. After logging in to your account, click on Accounts and then Account Statements. The past 18 months of statements are available. First time users will need to accept the Terms of Service and provide an active email address for notifications that new statements are available. As stated in the credit union's privacy policy, the email address provided will not be shared with third parties unaffiliated with the credit union. Signing up for E-Statements means the CU will no longer mail a monthly or quarterly statement to you. For your convenience the Terms of Service for using E-Statements are available by clicking here. |
Other Services Available to Members with Active, Current Accounts
Genesee Co-op offers Check Cashing, Money Orders, Cashier's Checks, Domestic & International Wire transfers, Western Union Transfers, and accepts Direct Deposit of paychecks and government payments. Click here for information on Electronic Transfers.
We have a secure 24/7 Deposit Drop for the convenience of members.
24/7 access to your account information is available thru our secure Online Banking site and our 24/7 Telephone Banking system. Shared Branching is also available to members.
Click on the following links for a list of our current Fee Schedule.
Insurance for CU Members
All accounts at Genesee Co-op FCU are insured up to $250,000 by the National Credit Union Share Insurance Fund.
Members holding Basic Dividend Earning Share Accounts are eligible for up to $1000 in Accidental Death and Dismemberment Insurance provided by the TruStage Insurance.
Share Draft/Checking Accounts
Our Share Draft checking account has:
- No minimum balance requirement
- No per check charge
Direct Deposit and Automatic Withdrawal services are available, as well as automatic Overdraft Protection from up to 5 sub-accounts and an Overdraft Line-of-Credit.
Members can also apply for the Visa Debit Card for purchases and ATM cash withdrawals. We have a 24/7 FREE (to members) ATM in the entry of the credit union.
Click on the following links for a list of our current Fee Schedule.
Additional Savings Accounts
Members may open additional savings accounts in conjunction with their primary account. These accounts require a $25 minimum balance. Genesee Co-op FCU does pay dividends (interest) each quarter on club account when you maintain an average daily balance of $25 dollars or more. Click to see our current savings rates. Members have used these additional accounts for holiday gift savings, saving for a down payment for a home or auto, vacation savings, savings for children or for emergency purposes.
Peace Accounts
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Some members have requested that no dividends be paid on the savings they have here at Genesee Co-op FCU. There is no required minimum balance for this special club account. In the early years of our existence, we called these accounts "Military Tax Resister (MTR) accounts." We now call them Peace Accounts. This account helps support the credit union and our mission to serve the underserved and provide financial education as a community development financial institution (CDFI). To learn more about this, click
Share Certificates of Deposit
Our Share Certificate Accounts have a minimum balance requirement of $1500 to open and maintain the account but do permit members to add to the certificate in $500 deposits and permit $500 withdrawals as well. Share Certificates may be for 1 to 3 years and allows members to earn a higher dividend (interest) rate on their savings. Please click here to see current availability and rates. Special rates are also available for certificates above $100,000, with different terms and conditions. Please inquire with the credit union.
Our Members make the difference.
Member Since 1985
"I joined the credit union because my bank was starting to charge fees for different transactions and setting a minimum amount on how much you had to have in your account. I decided it was time to put my money where my mouth was and support local businesses. So, I opened a checking and saving account with the credit union. In 2004, I got a mortgage with them - which they helped me stay on top of when I was laid off for a short period. I have direct deposit there for work and I did open up a line of credit there many years ago; I don't use it often but it's nice to know it’s there in case I do need it. People at the credit union dress differently, they don't wear suits and they're down to earth. When I go there, it's friendly and welcoming. I like the brickwork and the fact that they have local artwork on the walls. Most of my friends already bank there."