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Credit union introduces
new programs
Jamie Teibel
Summer Editor
On July 1, Purdue Employees Federal Credit Union
is introducing two new programs that encourage customers take an electronic
approach to banking. They are called Preference Checking and Relationship
Rewards Program.
Gail Koehler, vice president of technology and
retail delivery, said, "The member can choose how to use our Preference
Checking account every month, either as Complete "e," our free, fully
electronic account; or as Paper Plus, the more traditional paper-based
account. Members decide what works best for them, and that can even
vary month to month without requiring that they make any changes to
their PEFCU checking account."
A spokesperson for PEFCU said the reason for this
change is to "avoid paper flow." She said that the credit union is encouraging
its patrons to do their banking electronically. This means using the
ATM and TARA Touch machines to withdraw and deposit their money as well
as receive banking statements and checks. E-statements will normally
be available on the first day of the month, so members won't have to
wait for a paper statement to arrive in the mail, said Koehler.
Koehler said members can choose what program to
use, and their membership levels are determined by the combined average
daily balances of all the deposits and loans (aggregate balance) within
their account. She said that all ATM fees will be eliminated from PEFCU
accounts at all levels, but there may be surcharges at non-PEFCU ATM
machines. Online banking and bill payment will also be free to all PEFCU
members, said Koehler.
There are three levels members qualify for —
Classic Members have between $5 and $2,500 in combined balances; Advantage
members maintain between $2,500 and $20,000 in combined deposit and
loan balances; and Premier members have at least $20,000 in combined
deposit and loan balances.
All PEFCU customers have received letters from
the credit union informing them of their level.
Each level has certain "rewards," such as PEFCU
Online e-Pay, unlimited ATM transactions and loan discounts.
If members choose Traditional check writing accounts,
they may face the $6 monthly fee if their average daily balance does
not exceed $2,500, said Koehler.
For further information, call (756) 49-PEFCU, (800)
62-PEFCU or visit www.purdueefcu.com.
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Credit
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CITY DESK PHONE:
(765) 743-1111
ext. 250
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