What's New

What's New

Participating in your financial cooperative

Electrus works hard to offer low rates on loans, higher rates on savings products and minimal fees. Did you know you have a hand in that? You do - every time you choose Electrus for a financial product or service.

From mortgage loans and credit cards to individual retirement accounts and certificates of deposit, your participation helps improve the strength and stability of the credit union. The interest you pay on your loan goes directly back to the entire membership for the benefit of everyone. The money you have on deposit enables us to make loans to other members just like you.

When a member opens their account at Electrus and does not use it that also has an effect on the entire membership. Sending out statements, legal documents, and other materials to members that do not intend to fully use their credit union is expensive. That is why the inactivity fee was implemented several years ago.

Electrus charges $15 quarterly for inactive accounts. This applies to members age 21 and older that have had zero transactoins on their account(s) within the last 12 months AND have less than $500 in their combined Electrus accounts (i.e. checking, certificate, auto or home equity loan, savings, etc.) If you actively use your accounts and have less than $500 in your combined Electrus accounts, you will NOT be charged a fee.

The good news is that there is no reason why anyone should have to pay this fee! To avoid an inactivity fee, simply increase your savings, actively use your account, and transfer your loans at other financials to Electrus. If you signed up children as members, be sure they are aware of their account and encourage them to actively use it (members under the age of 12 are not charged an inactivity fee). Member participation is a key element for the continued success of Electrus and its members.

Privacy Policy

Equal Housing Lender