Savings & Checking

Regular Shares (Savings)

This account is required to establish membership. A $10.00 deposit is required at time of opening. A monthly service fee of $5.00 is charged if the balance falls below $50 during the month (waived for members under 24 and 62 & older). Dividends are paid on balances of $200 or more.

Share Draft (Checking)

When opening this account you will be required to deposit the amount needed to pay for your 1st order of checks. The first order of checks comes to the credit union for verification and in order to pick them up you must have at least a $100 balance in the account. All checks are duplicate copies and the originals are not returned to you. A monthly service fee of $5.00 is charged on this account if the balance falls below $50 during the month (waived for members 62 & older). The credit union can close an account if it has three or more overdrafts in a 30-60 day period. There are two options available for overdraft protection; the first option is a transfer from your Regular share account in increments of $25.00, there are transfer fees that apply and you are limited to six transfer per month. The second option is to apply for an Overdraft Line of Credit loan, once approved advances are in increments of $100.00. Dividends are paid on balances of $200 or more.

Courtesy Pay (Available on Checking accounts only)

All members (excluding business accounts and members under 18 years of age) who maintain an average share draft balance of $500 or over in a 90 day period will qualify for our Courtesy Pay program.  The credit union will pay items presented for payment even if funds may not be available.  You will be charged a fee of $30 for each item that gets paid, but the item will not be returned, saving you money charged by merchants for returned items.  How you automatically qualify for this program:  Your address on file must be current and all your credit obligations with the credit union must be current. Your account will be charged the Courtesy Pay fee for each item paid of $30 but your check or electronic paid as long as you meet the established criteria.  The maximum amount your account can be overdrawn is $500.  Overdraft items include checks written to third parties and electronic payments to third parties.

This coverage is only on your Share Draft (Checking) account. Overdrafts will be paid from your line of credit or by account transfer first, if applicable, before you are charged for the Courtesy Pay advance. Your account must not maintain an overdrawn balance for more than 15 days. If your account is not brought to a positvie balance (zero or higher) at least every 15 days, your overdraft coverge may be suspended. If overdraft coverage is suspended for any reason, an account review fee of $30 will be due before any account review is made to determine whether overdraft privileges may be reinstated. Online Debit Card and ATM transactions will be authorized based on funds actually available in your account at the time you are doing your transaction and are not covered by the Courtesy Pay program.  You may opt out of the Courtesy Pay Program you may simply notify us in writing and send this to Dowagiac Area Federal Credit Union, 473 E. Division St., Dowagiac, MI 49047.  The credit union reserves the right to not pay any item it believes will not be repaid.

Kid's Club

A special savings club established just for Kid's. A deposit of just $5.00 will open this account and they earn dividends on the entire balance and have no monthly service fee. A welcome bag is given to them at time the account is opened and for each deposit they make they get a special gift. They'll receive a special quarterly newsletter and birthday card with a special surprise. (Young Investors)

Christmas Club

Used as a separate savings for those extra holiday expenses. You may deposit any amount to this account on a weekly or monthly basis and in person or through payroll deduction. You may not withdraw from this account throughout the year. Christmas Club accounts are available October 1st and are transferred to the Regular Share account.

Special Savings

You may have up to ten special savings accounts under your base account that can be used for things such as: Vacation, Taxes, Insurance, Wedding, etc.. There is no minimum balance required or no monthly service charge on these special savings accounts.

Money Management

The Money Management is an account that pays a higher rate of dividend and you have unlimited access to this account for withdrawals. The minimum amount required to earn dividends is $1000.

IRA Share Accounts

We offer two types of Individual Retirement Accounts, Traditional or Roth. No minimum balance required on either type of account. Please consult with your Tax Preparer to determine what is the best type of account for you.

Term Share Accounts (CD's)

Minimum balance to open a Term Share is $500. You can choose a 6, 12 or 36 month term. There are penalties for early withdrawal.

Equal Housing LenderNational Credit Union Administration
NCUA - Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government agency. Equal Housing Lender - We do business in accordance with the Fair Housing Law and Equal Opportunity Credit Act