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The LINCONE
Federal Credit Union offers you several savings and checking alternatives, including:
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Let's Share! Just maintain a minimum of $25.00 in a share savings account and you will become
part owner in the credit union. Your share account works just like a regular Passbook
Savings Account, and with a balance of $25.00 or more you earn competitive monthly dividends.
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LINCONE Federal Credit Union offers free checking with no minimum balance requirement, no monthly
service charge, and earns dividends. In addition, it allows you to write an unlimited
number of checks without imposing a fee for each one.
You also have the option of using our Visa Check Card to access
your accounts. With a Visa Check Card, you can gain access to your credit union accounts 24 hours-a-day,
365-days-a-year, even on weekends and holidays. Visa Check Card is ready when (and where) you are!
Click here for details.
Courtesy Overdraft Pay
What is Courtesy Overdraft Pay?
This service allows the credit union to pay an item presented against your credit union checking account even if it causes the account to become overdrawn. That means, instead of returning a check to the merchant because of insufficient funds, the credit union may pay your check, saving you additional charges from the merchant collection companies, in addition to the credit union's Non-sufficient Fund fee.
Courtesy Overdraft Pay may provide certain accountholders in "good standing" with the ability to overdraw their checking account up to $500. A $20 fee will be assessed for each item that draws your account negative. You then have up to 30 days to bring the account current, either through a direct deposit, transfer of funds, or a deposit over the teller counter.
Account in "good standing", defined as: A) Making regular deposits sufficient to cover transactions; B) Bringing the account to a positive balance at least once every thirty days or less, and; C) There are no legal orders outstanding on your account, we may, at our sole discretion, pay overdrafts up to the limits mentioned above, including our normal Non-Sufficient Funds or Courtesy Overdraft charge(s). Whether we pay or return an item, your account will be assessed a fee, either as a Courtesy Overdraft Pay charge or a Non-Sufficient Funds charge but you will not be charged both fees.
Do I have to apply for this service?
No. No applications or additional signatures or additional agreements need to be signed, and it costs nothing unless the Overdraft Courtesy is used, causing the account to be negative. You will be notified by mail of any checks paid using Courtesy Overdraft Pay and the fee(s) assessed to your account for each item. The current Overdraft Courtesy Fee is $20.00.
Contact the credit union for more information.
We are happy to review our Courtesy Overdraft Pay and its features with you, along with giving you other options to add convenience and ease to your account. Please call us at 402.441.3555 / 888.790.7261 or email us at info@linconefcu.org.
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An Individual Retirement Account (IRA) is a special tax deferred high interest savings program through which a member can save for retirement. Qualifying members receive the benefit of deducting their IRA contributions from their taxable income and deferring tax payments on the interest earned on their deposits until the IRA funds are withdrawn (check with your tax advisor to determine if you are eligible for this special deduction).
How much can I contribute annually?
The amount qualified IRA owners are permitted to contribute in 2006 is $4,000. This amount will continue to gradually increase to $5,000 by 2008. Additional catch-up contributions can be made by qualified individuals over fifty. After 2008, the contribution limit will be adjusted annually for inflation in $500 increments. Contact the credit union for more information about contribution limits.
If you have not been eligible in the past for the contribution deduction, you may now be eligible. With the Taxpayer Relief Act of 1997, now in effect, new retirement savings opportunities are available.
Should you buy an IRA? Should it be a Roth IRA or a Traditional IRA? And just what is an IRA anyway? What about your children's investments? What about IRAs for people over 50 years of age? Where should you invest? Is a Education Savings Account (ESA) right for you?
While you may purchase all of the Individual Retirement Accounts (IRAs) mentioned at LINCONE Federal Credit Union, you should talk to your tax consultant or sit down with paper and pencil to choose the right IRA for you, but following is some general information:
Existing Traditional IRAs still have the maximum contribution set at $4,000 in a single year, but new thresholds for deductibility exist. There is also a new relaxed participation rule for spouses and an easing of penalties charged for early withdrawals if the money withdrawn is used for specific purposes.
The new Roth IRA contribution, while not deductible, is an ideal investment for many as qualified distribution are tax-free. The annual investment may be $4,000.
The Education Savings Accounts (ESA) allows contribution up to $2,000 per year per beneficiary and has attractive tax-free withdrawal options. LINCONE Federal Credit Union is not a tax consultant, nor will we act in that capacity. We do offer the best IRA certificate* and share rates around, so after you have made you decision, let us set up an IRA account for you.
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A term share certificate is truly "where the smart money goes." We offer competitively priced high yield term
certificates with terms ranging from 3 to 36 months.
general terms
Rates
established weekly and remain in effect until maturity Monthly dividend
payments can be added to the certificate or deposited into another LINCONE Federal Credit Union account. Upon
maturity, each certificate is renewed for the same term at the current rate, unless the member has advised the credit union of
alternate disposition. Early
withdrawals may be subject to a substantial penalty.
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Increase your returns by doing one thing, OPENING A MONEY MARKET ACCOUNT! The LINCONE
Federal Credit Union offers you (the member) a variety of savings options with competitive
interest rates. One of these accounts is the Money Market Account (MMA), designed for the motivated saver.
The MMA will maximize the returns on your funds by combining the earning
potential of a Share Certificate and the accessibility of a Savings Account.
The Money Market Account has a minimum balance requirement of $2,500, and a limited number of
withdrawals and transfers. However, there is an unlimited number of deposits that can be
performed. For more information contact the Credit Union office at (402) 441 3555
If higher dividends with availability appeals to you, call or visit either of our locations and
start your Money Market Account today.
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