Cobblestone Country Federal Credit Union

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Cobblestone Country Federal Credit Union
239 South Main St.
PO Box 380
239 SOUTH MAIN STREET
ALBION, NY 14411
PHONE: 585-589-5286
FAX: 585-589-1320

SERVICES

SAVINGS– Share Accounts

The saving accounts in the credit union are called Share Accounts. Members
may save through payroll deduction, electronic deposits, check deposits and/or
cash deposits. Shares may be added or withdrawn during regular hours.

CHECKING – Share Draft Accounts

Checking accounts at the credit union are called Share Draft Accounts. There
is NO minimum balance, NO per check charge and NO service charges. You do pay for your own checks and any additional services you may require (for example: stop payments, traces or check copies). All checks ordered through the credit union have duplicates for your records and originals can be obtained, per your request, for a fee.

The share drafts are cleared through your account by 9:30 am. Your checking accounts are connected to your savings and will overdraft to your savings (for a $5.00 fee) if there is not enough in your checking to cover your checks.

VISA DEBIT CARDS

Debit cards are connected to your Share Draft (checking) Account ONLY. You may withdraw from your Share Draft Account at an ATM Machine* or at a store by using the card as a Credit Card. *Please note if you use your Visa Debit Card at an ATM Machine you will be charged a $1.00 fee, which will be withdrawn from your checking account on a daily basis. If your debit card is lost or stolen please call 1-800-543-5073.

CLUB ACCOUNTS

Christmas, Tax and Vacation Club Accounts are available. These accounts earn
the same dividend as a share (savings) account. No minimum balance is
required.

SHARE CERTIFICATES

We offer short-term 6-month certificates of deposit (CD) that earn a monthly
dividend.

LOANS

Any person who is a member and has had steady income for a year or more may apply for a loan. The amount and length of any loan is determined by the purpose, security offered and the person’s ability to repay. (Subject to federal regulations, Board of Directors policy and discretion of the Loan Staff.).

Loan Applications are available in the lobby of the credit union. They
can also be faxed or mailed to you.

A new form must be completed by the applicant for each new loan
and has to be returned to the credit union with payroll verification and security information, if applicable.

Approval – All loans must by approved by the loan officer. After their
approval, the necessary papers are prepared and the loan is processed.

Repayment of Loan – The due date for all loans is the 15th of each
month. On this day the payment will be drawn out of your share account. You have a seven day grace period before a $15.00 late fee is charged to your account. Interest is calculated daily on the balance of the loan.

Loan Protection Insurance – The credit union offers the option of life
and/or disability insurance on all loans if the customer wishes to purchase it.

TYPES OF LOANS AND LOAN ELIGIBILITY

Members are eligible to have three loans at one time – 2 secured and
1 unsecured.

Unsecured (or personal) loans are limited to $5000.00 with a repay
term of up to 30 months.

Secured (or chattel) loans are available for new or used cars, trucks,
ATVs, etc. The term varies depending on the year of the security item. Detailed loan information is available by phone or fax. Secured items MUST carry proper insurance (collision and comprehensive) to protect the credit union’s interest. Collision is not required on vehicles over ten years.

Share Secured Loans are also available. The shares must be kept in
the share account of the member with the loan for the term of the loan.

Home Equity Loans are available for home that have at least 65% loan to value.

Some loans will require a Co-Maker. A co-maker is anyone with a good reputation, steady income and the ability to meet the obligation. Co-makers do not have to be members at the credit union.

OTHER SERVICES

We offer money orders, travelers checks, VISA Gift Cards and postage stamps. During the summer we also offer certain amusement park tickets at a discounted price.