There are some good reasons for considering a joining the Laneco Federal Credit Union in Oregon. The Credit Union has excellent rates, good security measures, and competitive benefits. The members are often informed of new opportunities, such as special member deals, events, or opportunities for education and training. The members often have better access to other resources that may be helpful to them.
Membership: Like most other members-only financial cooperatives, the credit union is a non-profit member-owner-operated organization providing direct financial banking services to over hundreds of thousands of member families, but primarily serving federal, state, and county government employees. It is strictly not a for-profit organization, with no profit motive. Membership is open to full-time members only, who meet minimum requirements. There are also other special enrollment opportunities available. To join the association, one must be at least 18 years old.
Safety & Security: Because of its non-for-profit status, the Credit Union is held to extremely high standards of safety and security. All members have to undergo background, criminal, Social Security, and credit verification before being given a membership. The members and the executive staff are required to undergo thorough background investigations before being allowed to join. New members are also subject to FBI and SSO check before being allowed to join.
Online Banking: One of the major advantages of joining the Credit Union is the online banking facility. Every member can maintain and manage their personal account through online banking. They can also make transactions and purchases from any location through the internet. The online banking facility is available for both regular customers and those wishing to become members.
Self-Directed Account: One can opt to manage their own personal account in the Credit Union. This would allow them to decide their own payments, subscriptions and direct deposit. They also have the freedom to set up direct debits and subscriptions for goods and services or to receive contributions. There are two types of Self-Directed Account that one can join-one is a Debit and the other is a Credit Union Debit Account. The Debit is solely managed by the members themselves.
Payroll Dues: There is also an option to pay the payroll dues online, which is very beneficial for the people who have a fixed day job. Apart from managing the fund, one can also send their tax return and quarterly reports through online. This makes it easy for one to track their expenses and dues. This facility is available to all the members, whether they are employees or not.
Renewal of Dues: If one does not pay the dues on time, then one will automatically be enrolled in the renewal program, which would charge extra monthly fees. For those who wish to renew their membership should ensure that they pay their fees on time. To do this, one can open an account with the Credit Union and then create a payment plan with the help of the financial institution. Once you have done this, you will be able to renew your federal credit union membership on the scheduled basis.
Other Services: Most of the Credit Union offer other services that are also beneficial to its members like low interest rates on loans and other services. These other features mostly include travel insurance for their clients, special loans for students or seniors, special plans for newly joined members, etc. All these services are offered for an extra fee. Usually, you need to open an account with the Credit Union in order to avail these kinds of services. In case you have already opened an account, then you can always request them to extend your membership terms, which can give you additional discounts.