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Ka‘u Federal Credit Union
offers its members basic deposit services of Share
Accounts (Regular Savings) and Share Draft Accounts
(Checking Accounts). Membership accounts are
available to adults, students and businesses
--including associations and nonprofit organizations.
Regular
Shares: The minimum deposit to maintain a
regular share account is $25. A regular share account
has a minimum balance requirement of $5 for students
under 18 years old. This is the member’s basic
shares of ownership in the credit union. A member may
have up to three separate share accounts under the
same member number. This makes it easy for a member
to have a special savings account for Christmas,
vacations, education, etc.
The minimum deposit required to
earn dividends is $100. This is reduced to $5 for
student accounts. Dividends are declared quarterly.
Dividends are credited to the member's account on
March 31, June 30, September 30 and December 31.
Statements for members with
share accounts only are mailed quarterly.
Share Draft Accounts: Any
individual or business member can have up to two
share draft (checking) accounts under the same
number. Your credit union uses Clarke American as
its check provider. Once you have a share draft
account you can order and re-order checks on line.
Check charges vary according to style and quantity
ordered.
There is a $3
monthly fee for individual share draft (checking)
accounts which will be waived if any one of following
exists:
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Average
Daily Balance of $300 or more is
maintained for the month.
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Direct
deposit of entire payroll (simply a payroll
deduction does not qualify).
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Direct
deposit of social security or other
disability or retirement accounts.
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The primary
member is more than 55 years old.
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Average
daily balance maintained in the regular share
account is $1,000 or more.
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Have an
outstanding loan of at least $2,000.
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Member is a
youth under 18 years of age.
Click here to order checks
Business
Accounts: Ka‘u Federal Credit Union offers
its business members business share draft accounts.
The monthly fee for businesses is $10. To help our
members the $10 fee will be waived if any one of
following exists: Minimum Average Daily Balance of
$500 is maintained for the month Minimum average
daily balance maintained in the regular share account
is $5,000
Businesses can use their own
check providers or order through Clarke American.
Product catalogs are available at the credit union.
You can also order and re-order checks on-line.
Click here to order checks
Members with share draft
accounts will receive statements monthly.
There may be penalty fees
assessed a member's share draft account for items
such as overdrafts. For a complete list of fees
please contact the credit union.
Note: All
member statements are combined. That is, all the
member's share, share draft and loan accounts are on
one statement. This saves paper work and helps the
member to organize all their basic finances at one
financial institution, their Ka‘u Federal Credit
Union.
 
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