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April News
How to Avoid Dormant Account Status
In today’s fast-paced world, where transactions are made by tapping a screen, it’s easy to forget less frequently accessed accounts. It’s essential to keep your account active, and here’s why it’s in your best interest.
Great Erie is known for offering more personalized services and great rates than other financial institutions. The membership benefits are clear, with competitive rates, low or no fees, and various member advantages. By keeping your account active, you maintain eligibility for better deals and financial benefits in the future.
Great Erie emphasizes building strong relationships with its members as a community-based financial institution. Actively participating in your credit union and keeping your accounts active strengthens this relationship, leading to a more personalized banking experience and improved service when you need financial assistance.
If your credit union account becomes inactive and is subsequently closed, reopening it can be tedious. Keeping your account active allows easy access to your funds and services without unnecessary delays. Just to let you know, accounts are flagged inactive after 12 months, resulting in a dormant fee of $10. We strive to help our members avoid fees whenever possible. Additionally, inactive accounts may fall under New York State Abandoned Property Laws and could eventually be turned over to the State.
I would like all members to help keep their accounts at Great Erie active. A simple way to do this is by setting up an automatic deposit to ensure consistent account activity. Managing an active account provides a safety net in times of need; being prepared for unexpected expenses or emergencies is always wise. Communication is key—please inform us if you have any changes to your contact information.
Maintaining an active account offers peace of mind and ensures your member benefits remain intact. If you have questions or need help, please call us at 716-662-1311. We’re here to help you avoid dormant account status while ensuring easy access to your funds.
Warm regards,
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