Member Accounts

Whether it’s a lifelong dream or a weekend getaway, Amherst Federal Credit Union offers a variety of great savings options to help you get there. Our deposit accounts let you earn competitive interest rates while keeping your money totally liquid so you can get to it when you need it. The National Credit Union Administration (NCUA) federally insures our credit union and each member’s deposits are backed by the full faith and credit of the United States Government to $250,000.

Share (Savings) Accounts

Every member is an owner of the Credit Union.  A deposit of one share – $5.00 – is required for membership. Shares held in a savings account are the primary benefit of that ownership.

Dividends are declared and paid quarterly by the Board of Directors. Statements are sent to members quarterly along with a copy of our newsletter.

Conveniently make a deposit or withdrawal by phone, fax or mail. Please be sure to give us your daytime phone number, exact directions of your request and include account numbers if possible. Attention to these details will help us provide quick, accurate service – just the way you want it. We may call you or ask for identification to verify the transaction.

When a member’s Share Account is inactive for two or more years and the balance is less than $100, an account fee of $6.00 is charged each quarter. An account is considered “inactive” when there is no deposit or withdrawal by the member. Payment of dividends is not classified as account activity. After five years of inactivity, the account is declared abandoned under New York State Law and turned over to the Office of the State Controller.

Share Draft (Checking) Accounts

Our checking account service is available to every qualified member. Your first 50 checks are free and you may apply for a ATM or Visa check card. With our free online Home Banking you can access your account balances, make transfers, nickname accounts, view statements and much more! Easy-to-read and easy-to-use monthly statements are also provided. Save your checks and manage your bills online with free bill pay. No monthly service fees apply.

We recommend payroll deduction or direct deposit as a convenient way to make deposits.  In order to keep account costs to a minimum, paid checks are not returned. Copies of paid checks, if needed, can be requested through our office at a small fee.

Fresh Start Share Draft (Checking) Accounts

As a community credit union, Amherst FCU strives to offer products and services to helps members obtain low cost, reliable service with personalized attention to the financial needs of every member. We realize that some members may not be eligible for a regular share draft (checking) account due to past account use or unforeseen circumstances. The Fresh Start Checking account offers a second chance to bank responsibly, ideally leading up to full share draft account access. Now you may have the same type of access to your money as anyone with a regular checking account, but for much less than dealing with check cashers. Restrictions and monthly fees apply. Each application is subject to management approval based on the applicant’s ChexSystems report. Not all members will qualify. Call the credit union for more information.

ATM Cards

ATM service is available for deposits and withdrawals from Shares (Savings) Accounts and Share Draft (Checking) Accounts.

Visa® Check Cards

Visa® check cards work just like a credit card only the funds are taken directly from your checking account. Use your check card for purchases or cash withdrawals from an ATM. The Visa® check card may be used in conjunction with Overdraft Protection so you never have to worry about the cost and inconvenience of bouncing a check. Since the card carries the Visa® logo, it is accepted worldwide.

Notice of change

ATM Service

Use your Check Card or ATM card for withdrawals from your savings or checking account with the credit union. Your first 6 transactions a month are surcharge free at any Allpoint or M&T Bank ATM. Please keep in mind that there may be transaction fees and/or surcharge fees that apply. Check out Allpoint’s online ATM locator or download the free smart phone application to find ATMs on the go!

Club Accounts

Enroll for payroll deduction or Direct Deposit to be sure to have enough money set aside for holiday expenses. Make automatic deposits every payday. Club money is automatically transferred into your share (savings) account around the 1st of November.

Overdraft Protection

Overdraft protection is available at $2.00 per transaction plus interest, until the cash advance is repaid. Overdraft protection for qualified members prevents checks from being returned due to Non Sufficient Funds.

Term Share Certificates & IRA Accounts

Term share certificates are similar to certificates of deposit offered by other financial institutions. The interest rate is guaranteed for the term of the deposit. We offer one year terms at very competitive rates. Our minimum term share certificate deposit is $1,000.00. When it’s time to open a new certificate or roll over an old one, be sure to compare our rates to other area institutions. Like all Credit Union deposits, our Certificates are insured by NCUA through the NCUSIF, an agency of the federal government.

Use our Term Share Certificates for regular, Roth and Education IRA accounts. Ask about contributory IRA accounts to build your balance each payday until it’s large enough for a Term Share Certificate.