They fail to consider that they are borrowing from fellow employees who invest in the Credit Union and are entitled to a fair return on their money. If an emergency arises such as illness or accident, a borrower should contact the Credit Union Office and give some explanation of their circumstances. We recommend the payment of loans through payroll deductions. Deliberate and willful failure to pay will necessitate legal action being taken to collect. This causes an additional expense to the borrower.
Federal regulations prohibit compounding of interest on money market certificates.
Life Savings Insurance is not available on money market certificates.