The River Valley Credit Union exists only to serve its members. We take the money that you deposit and, in turn, lend it back to your friends and neighbors. You can be proud that your deposits are working to help people in your own community.
Your money is safe, too! All members’ deposits up to $250,000 are federally insured by the National Credit Union Administration (NCUA), an agency of the United States Government.
Because part of our mission is to return all profits to the members, you will find that the River Valley Credit Union will pay consistently high interest (dividend) rates to our members who entrust us with their funds.
We also offer the convenience of automatic savings via payroll deduction or direct deposit from your employer that will go directly into your savings or checking account. We are currently receiving funds from direct deposit and payroll deduction from over 150 employers in our area so, chances are, your employer is already participating. Why not begin this easy way to build up that nest egg, or save a trip to the credit union by having a deposit go directly to your checking account.
To become a member of the River Valley Credit Union, everyone must open a standard savings account called a Base Share Account with a minimum balance of at least $25. You, of course, are encouraged to save more than the minimum. Your savings earn interest on the average daily balance in your account. Interest is compounded daily and paid monthly.
And one more thing: there are no minimum balance fees or service fees connected to our savings accounts. We think it’s a shame that at some institutions, people are being charged to save money. We’re here to help you save money, not take it away from you!
The River Valley Credit Union offers a number of different club accounts, all loosely structured. Club accounts are just a way to separate your savings for a specific purpose. We pay the same interest rates to club accounts that we pay to the base share account. Unlike other institutions, we have no rigid requirements on our club accounts. You do not have to make a specific deposit every week. You may make a withdrawal at any time without penalty so your money is not locked up. It’s your money—why should you be penalized if you need it? We offer Christmas Clubs, Tax Clubs, Vacation Clubs and Special Savings Clubs.
The River Valley Credit Union has a number of different certificates available with terms ranging from 3 months to 60 months. A minimum of $500 is required to open a certificate. Interest is calculated and paid monthly and can be rolled back into the certificate for compounding, paid to your savings account or sent directly to you by check. We want to give you maximum flexibility in how you choose to take your interest.
The River Valley Credit Union maintains IRA Accounts for individuals and also accepts SEP IRA deposits (Simplified Employee Pension IRA’s). We offer a basic share account as well as higher yielding IRA Certificates.
The River Valley Credit Union offers a basic, no frills checking account. We charge a flat $4 monthly service charge for unlimited usage. Write as many checks as you want, make as many deposits as you want: the monthly fee will only be $4. We use a truncated system which means that your checks are stored at a clearing center. You get a monthly statement detailing activity for balancing. If you are paying more than $4 in service fees for your checking account, why not open an account with the credit union and put that fee money back in your pocket where it belongs?
Free & Clear Checking is here!
We now offer a checking account with no monthly service charge! Free & Clear Checking offers the same great benefits of our regular checking account without the $4 monthly service fee. There are no minimum balance requirements, you have unlimited check writing and you get to reap the benefits of being a member of River Valley Credit Union. All you have to do is qualify for Overdraft Protection (see your local RVCU branch for more details) and sign up! If you already have a checking account here but are still paying the monthly service fee ask a Member Service Representative how to switch your account to Free & Clear Checking today!