"Once a Member, Always a Member.” This Credit Union motto is especially important for all of the UST employees taking the current early retirement buyout being offered by the university.
The St. Thomas Employee Federal Credit Union membership does not terminate with the end of employment at St. Thomas; as long as the basic share account remains open, the membership remains and a member can continue to both save and borrow at the credit union. The only requirement to keeping the account open is that the minimum balance of $5 (one share) is maintained.
For those members who will continue on the payroll for another year, any current payroll deduction for savings or loan payments will continue just as they have been, unless the member requests a change.
For those members who are taking a lump-sum payout, any current loan obligations will have to be paid via check or money order in the future. Contact the credit union to make arrangements for these payments.
It would be very helpful to the credit union if, before a member terminates his or her employment, he or she would notify the credit union that they are leaving St. Thomas. The credit union can then update address, phone and email information and will direct statements, etc., to a home address instead of to an on-campus mail number. This can be done via email, by calling (651) 962-6660, or by stopping by the credit union office in Loras Hall, Room 209, during open hours (noon to 3 p.m. Mondays; 10 a.m. to 1 p.m. Tuesdays, Thursdays and Fridays).
Congratulations to all who are retiring, and we hope that you will continue as members of the credit union!