UCU offers four types of tiered savings accounts, called share accounts:
1) Single Account                                                                              2) Joint Account
3) Trust Account
4) Member Association Account

• All share accounts pay dividends on a tiered basis, the more you save the more you can earn.
• All share deposits can be made in person during regular office hours, or checks can be mailed to the UCU office via U.S. Mail or Xcel Energy's inter-company mail.
• Payroll deduction directly from your Xcel Energy paycheck is another great way to add to your savings on a regular basis.
• Accounts are federally insured to $ 100,000 by NCUA, an agency of the U.S. Government
• Your UCU savings are available anytime.

UCU offers a variety of loan programs to meet your needs. We offer a quick approval process and flexible terms that make repayment easy.  Our Home Equity Line of Credit and new loan rates were established to compete with, and often beat those that are found in other financial institutions. These new, lower rate loans are not eligible for the quarterly interest refund.  However, existing UCU loans made prior to July 1st, 2003 are eligible for an interest refund that the UCU Board of Directors has, for the past 22 consecutive years, returned to its member borrowers.

Loan Types:

New and Used Vehicle and Share Secured Loans

• Tailored specifically for new and used vehicles, boats/motors/trailers and more.
• Member's shares can be pledged to secure the loan amount.
• Loan amounts from $ 300 to $ 40,000.
• Flexible loan terms up to 72 months.
• Competitive rates - New loans made after July 1, 2003 are priced at current market levels to meet, or often beat those of other financial institutions.  These new, lower rate loans are not eligible for the quarterly interest refund.

Kwik Cash Loans 

Some things in life just can't wait, you need them now. Other things could wait, but you can't. You want them now. In either case, when you are in the need of quick and easy cash for those immediate purchases-count on a UCU Kwik Cash loan, with no hassles, no headaches, in no time at all.

Besides great savings and loan programs, UCU members can also take advantage of these convenient additional services:

UCU offers the following four types of Share Accounts:

Single and Joint Ownership Share Accounts
UCU offers share accounts for both single and joint ownership by its members, with four levels of dividend rates based on the dollar amount deposited. The more money you have on deposit, the higher level of interest you will earn. See chart below for details.

Trust Accounts
Revocable Living Trust Accounts are offered to eligible members. These accounts are established with documented terms of survivorship set forth by the account owner and a listing of designated beneficiaries.

Member Association Accounts
Member Association accounts are offered to clubs or committees involved in Xcel Energy functions.

Dividend Policy
The Utilities Credit Union Board of Directors review and establish dividend rates quarterly, considering both internal requirements as well as national trends. Dividends are paid from current income and available earnings after transfers to reserves at the end of the dividend period. Shares earn dividends from the day of deposit until the day of withdrawal. Dividends are paid on the last day of each quarter to members who maintain a share balance of at least $ 5.00.

Dividend Rates as of 1st Quarter 2008

*APY - Annual Percentage Yield (Dividend rates & Annual Percentage Yield may change after account is opened.) Share account fees may reduce the actual dividend rate, however, UCU has no such fees which impact the dividend rates stated above.

Loan Rates & Terms:

Share Secured Loans

• Available to qualified members for financing of new and used titled vehicles. Vehicles include automobiles, boats/motors/trailers and recreational vehicles, which typically requires a title and registration with the State.
• Loan terms and rates are dependent upon amount borrowed (see schedule below).
• Loan protection insurance is available on a member-pay basis.
• Existing UCU loans, those made before July 1, 2003 are eligible for quarterly interest refunds. 
• New loan rates listed below were established to compete with current rates found in the financial markets.  They are not eligible for declared quarterly interest refunds.

Used Vehicle and Other Secured Loans Requirements

• Available to qualified members for financing of used, pre-owned vehicles, or loans collateralized by other forms of property.
• Collateral is limited to three items per loan and must support the balance throughout the loan term.
• Loan terms and rates are dependent upon amount borrowed (see schedule above).
• Loan protection insurance is available on a member-pay basis.
• Existing UCU loans, those made before July 1, 2003 are eligible for quarterly interest refunds. 
• New loan rates listed below were established to compete with current rates found in the financial markets.  They are not eligible for declared quarterly interest refunds.

Payroll Deduction:
The easiest way to deposit money in your share account or make scheduled payments on any loan is through payroll deduction. This convenient service eliminates the need to come to the credit union to deposit your check on payday. You designate a portion of your Xcel Energy paycheck to automatically be deducted and forwarded to UCU as either a deposit to your share savings account or as a loan payment, or both. By making bi-weekly loan payments you will reduce the amount of interest you pay over the life of the loan.

Contact the Credit Union for details on how to set up your payroll deduction today.

Notary Public Service
UCU's Notary Public's can notarize your documents at no charge. Stop in during regular office hours.

Automatic Loan Transfers
Upon notification, UCU will transfer funds between member share accounts and loan accounts, fast and free. Call the UCU office during regular business hours, or email us for more information.

Inter-Company Mail Service
Members may use the Xcel Energy Inter-company mail service to send and receive documents, payments or withdrawal checks. It's fast, convenient and free.

Credit Life Insurance
For a monthly fee added to your loan, the credit life insurance benefit pays the balance of your loan, up to the policy maximum, in the event of your death. This ensures your family will not be left with your loan debt. This service is offered on a member-pay basis. Ask a UCU loan officer for details.

Credit Disability Insurance
In the event you become totally disabled by sickness or accident, credit disability insurance pays your loan payments up to the policy maximum. The premiums for this member-pay service is added to your monthly loan balance. For full policy details ask a UCU loan officer.

Refunds may be declared by the Board of Directors based on Credit Union earnings. These refunds apply to loans made before July 1, 2003, Home Equity Lines of Credit are not eligible.  A refund has been declared in each of the last 22 years, However past performance is no guarantee of future refunds.  Refunds are credited to share (savings) accounts.