Courtesy Pay – Did you know you can have overdraft protection on your UDBell Debit Card? At Upper Darby Belltelco Federal Credit Union we strive to offer new and improved solutions to meet all our members’ financial needs, which is why we now offer Courtesy Pay.
Our Courtesy Pay program is automatically available on your qualified share draft (Checking) account to provide overdraft coverage for checks, automatic bill payments and other debit transactions. However, without your consent to provide overdraft coverage for your ATM/Debit Card, if you do not have enough money in your account at the time of your request it will be declined. UDBell’s overdraft program does not guarantee we will cover your overdrafts, but if we do you will be charged our standard $29.00 Courtesy Pay fee for each payment. As long as you keep your account in good standing by continuing to make consistent deposits, bringing your account to a positive balance at least once every thirty days, remaining current on loans, etc., then we may pay your overdraft item up to your $400.00 overdraft limit.
If you want the added protection of overdraft coverage for your ATM withdrawals and everyday debit card purchases contact us today and consent to the added protection by either calling us at 610-734-1883 or by completing and submitting an Opt-In form. There is no cost to have this service available. If you use the service, our standard overdraft fee per item will be applied.
Questions? Please call us at 610-734-1884, or email us at firstname.lastname@example.org.
Share Account – For those that are eligible to join, you may open a share account with us for as little as $5.00 and pay a great rate!. Super Share accounts have a minimum balance requirement of $3,000 and earn even more money for you! Consider funding through payroll deduction and watch how quickly it grows.
Share Drafts (Checking) – Compare the benefits of your credit union share draft account with a traditional banking product. Most banks have arbitrary minimum deposit requirements, sometimes in excess of $1,000 to avoid service charges. Our minimum is zero. Most banks don’t offer interest on balances, and if they do it may be in a tiered-method, with unusually high balances required to earn interest. We pay interest on all amounts in the share draft account.
Certificate of Deposit – Looking for a higher yield on your savings? Consider placing some funds in a certificate of deposit. All CDs may start with as little as $500.00. The rates at your credit union are always competitive. A CD is an excellent way to keep money for a specific period of time or event, such as timing tax payments, weddings, educational expenses, vacation, holiday spending, new home purchase, etc. in which you do not want to touch the money until the event occurs. The early withdrawal penalty is three months interest on CDs with original maturities of one year or less, and six months interest for terms exceeding one year. Call our office to see how a certificate of deposit can help your financial planning.
IRA (Individual Retirement Account) – As the name suggests, this account helps you save for retirement. It can be used to supplement a pension or 401(k) plan, or independently as a means for building your retirement nest. IRAs may by structured to defer current taxes by utilizing a traditional IRA, or creating a non-taxable situation on all future earnings on the account with a Roth IRA. You may save up to $5,500.00 per year with these accounts, while members over fifty may save up to $6,500.00.
Coverdale Educational Savings Accounts (ESA’s) are also available for funding children’s educational expenses. Depending on the income of contributors – each child may have up to $2,000.00 saved yearly for future tuition costs. Please note that limitations may apply in conjunction with other educational plans.
Talk to your accountant or financial planner to determine what method is best for you.
Club Accounts – The credit union offers both Christmas and Vacation Club Accounts to its members. Rates are generally the same as a share account. Both accounts may act as accrual accounts, meaning they can grow at a steady pace through payroll deduction or automatic transfers. In addition to saving for the obvious reasons clubs are designed for, you may also consider using them for tuition builders, alternative escrow accounts for insurance and real estate taxes, and other specific needs that you may be saving for. The club accounts assist you in segregating specific savings from your general savings found in you share account. We would be pleased to discuss the benefits of establishing this type of account for you.
Personal Service Loans – Need money for a vacation? Bill Consolidation? Home or Car repair? furniture? Education? Emergency? Etc? We have just the right loan for you needs. Our Personal Service Loan is a great way to finance those events that inevitably sneak up on us.
The loan is at a set rate and can be accessed up to $7,500.00. It acts as a revolving credit line, so you can control the interest expense by properly utilizing this type of financing. Payments are determined by the outstanding balance, with a minimum monthly payment of $50.00 per week based on $7,500.00, and less for lower outstanding balances. Call us today for your application.
VISA – How are you paying for store merchandise, dinners, or recreational activities? If you aren’t using your credit union VISA, you may be missing some potential savings and the protection VISA provides. Did you know that we offer a credit card with a 9.9% interest rate with no annual fee? Compare that to the cards you may have from other institutions and see how ours compare. In addition to the low interest rate you also get the customer protection that VISA offers to its consumers. The next time you plan to shop, plan to use your Upper Darby Belltelco VISA card.
Unsecured Personal Loans – Revolving credit is not the only way to borrow. Our members also want the means to borrow money and have the debt paid off in a certain period of time. Our Personal Loans address those requirements. Check out our short term Vacation and Christmas Loans, use a Computer Loan for low financing of your next PC purchase, or use our Signature and Consolidation Loans for terms out to four years. Our loan officers will help structure the right loan for you.
Home Equity Loans – are fixed rate loans with a specific term, usually from one to fifteen years, resulting in a fixed monthly payment. The loan proceeds are distributed according to the borrower’s instructions at the time the loan is settled, and the repayment schedule begins with weekly, bi-weekly or monthly payments. You may borrow up to eighty percent of the available equity on your primary residence. This type of financing is appropriate for home improvements, automobile purchase, college tuition and other major expenses that are best paid over time and factored into the household budget.
Home Equity Line of Credit – grants the borrower a specific loan amount that may be drawn upon when a borrowing need arises from a line of credit. Unlike the fixed rate and term of the loan described above, the line of credit has a variable rate, tied to the Wall Street Journal Prime Rate and payments are calculated each month based on the principal balance and the accrued interest. The line has a minimum monthly payment of $100.00. This type of loan is best used for emergency cash needs, taxes, insurance premiums, medical payments, and other short term financial situations. The interest on loans secured by real estate is generally tax deductible. Check with your tax advisor for qualifications.
New and Used Car Loans – Thinking of buying a new or used car? Your credit union can help. We offer loans for both new and used cars with low interest rates, flexible terms and quick service. We can help you determine an affordable monthly payment, and pre-approve you for an amount prior to you selecting your new set of wheels.
You’ll often see the dealer offer spectacular rates of 1% to 3% for automobile financing. A closer inspection of these offers may alert you that the rate is good for a specific term, usually a relatively short period of time, and are normally offered exclusive of any rebate programs. While these rates are certainly attractive, check out the corresponding monthly payments to determine affordability. Longer terms may result in higher rates, sometimes at or exceeding the same term rates offered by the credit union.
If you are buying new car, consider a low rate loan from the credit union, combined with dealer rebates, to lower the cost of the purchase. The rebates can reduce the price and the interest we offer may match or beat the dealer’s for the combination of rebate and borrowing.
One reminder: new cars may list all of the costs of the automobile’s features, but don’t itemize one important expense; depreciation. Depreciation is the value any new car loses in the first several months of ownership. Used vehicles are usually less expensive due to the depreciation factor, and sometimes come with a limited warranties from the dealer.
Remember: Upper Darby Belltelco FCU has a relationship with Enterprise Car Sales, and semi-annually there are private sales days for our members. Look for future sale dates.
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Secured Loans – Do you have an unexpected expense that threatens to substantially reduce your share account? Are you looking to borrow money at a reduced rate? Can you pay back a loan faster that you can save? Are you having difficulty in getting credit? If you answered “Yes” to one or more of these questions, we have a solution. The Secured Loan program enables our members to borrow money by pledging the Share Account or Certificate of Deposit as collateral for the loan, thus the term “Secured”. You are borrowing your own money on deposit with the credit union, usually paying a rate of 2% to 3% above the dividend rate, depending on the type of account held as collateral. The current rate on a loan secured by a Share Account or Super Share Accounts is very competitive. Loans secured by Certificates of Deposit are priced at 2.0% over the CD rate, with a minimum of 3.99%.
Loans are structured to pay in full in a maximum of five years. Your share account will continue to earn monthly dividends during the loan, and once the loan is paid you will still have your savings intact.
The credit union will also review securing loans with stock. We will lend up to 80% of the stock market’s value at the current rate. This is a great method of obtaining cash without liquidating your stock holdings. It may help you avoid capital gains taxes of the possibility of selling during a down period. Call Jack or Cathy for details on how we can assist you.
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UDBELL @ HOME – An icon is on our main page directing you to our new home banking. If you prefer to set the site as a favorite, you may go to https://www6.homecu.net/fi/udbell/mindex.html
Please contact the credit union with any questions regarding UDBELL @ HOME at 610-734-1883
The credit union rolled out its MasterCard Debit Card in 2000. This card enables you to access cash from ATMs, and also use it at retail stores, restaurants, and other places accepting MasterCard. Funds are drawn from your checking account, thus the term, “Check Card”. As with traditional MAC cards, you may access your account at ATM machines for deposits, withdrawals, transfers, and inquiries.
Our 24/7/365 Touchtone Teller, George II, enables you to transfer between accounts, inquire about recent account activity, make loan payments, or request checks to be sent to your from your account.
Up to $250,000.00 Federal Insurance of Deposits through the National Credit Union Administration, a U.S. Government Agency.
Thank you for considering the Upper Darby Belltelco Federal Credit Union for your financial services. Please call us with any questions regarding this information.
Please note: All information is subject to change.