The St. Thomas Employee Federal Credit Union members should be on the lookout for their bright green envelopes: Christmas Club checks will be mailed Thursday, Nov. 9. Credit union members saved over $76,000 this past year.
Checks will be available at the credit union on Thursday, Nov. 2, for those members that would like to stop by in person for their Christmas Club check. The Christmas Club checks will include all deposits from Nov. 1, 2016-Oct. 31, 2017, plus an annual dividend of .30 percent.
Starting with the Nov. 10 St. Thomas payroll, deposits to the Christmas Club accounts will start again.
Current credit union members who do not have a Christmas Club account may join at any time. St. Thomas employees can download a payroll deduction form listed under forms from the credit union’s website. Members can fill out the form out and mail it to the credit union at #LOR209.
The next annual dividend will be paid on Oct. 31, 2018, and checks will be available starting Nov. 1, 2018. If it is necessary to access the club funds during the year, all funds in the account must be withdrawn, no dividend will be paid and the club account will be closed.
Santa Loans
The St. Thomas Employee Credit Union is once again offering a Santa Special Loan in the amount of $1,200 at 10 percent interest for up to 12 months. The rate is a fixed rate and will be available to any credit union member who has a BEACON credit score of 600 or above. Payments on $1,200 at 10 percent will be $105.47 per month or $49.00 bi-weekly through St. Thomas payroll deductions. The Santa Loan will be available Nov. 13-Dec. 15.
In addition to the Santa Loan special, STEFCU members may be eligible for Signature Loans up to $3,000 at a rate of 12 percent less discount based upon BEACON credit scores of 650 and above. A High Beacon Signature Loan up to $8,000 for six years is available for members who have a BEACON score of 700 and above at rates of 6-8 percent.
The credit union will be open Wednesday, Nov. 22, from 10 a.m.-noon to process any withdraws for the Thanksgiving holiday.
The STEFCU continues to offer very competitive new and used car loans as low as 1.9 percent, which are always based upon the members’ Beacon credit score. Loan rates are always available on the credit union's website. Loan applications can be found under forms on the credit union’s website as well.
