Credit Union FAQ's
What are the requirements for membership in the MPBC?
You are eligible to join the MPBC FCU if you are a member or employee of the Mt. Pleasant Baptist Church. Your immediate family or household members are also included in the field of membership. A membership application, proof of identification and minimum deposit of $6.00 ($5.00 for opening a share savings account and $1.00 towards administrative fees) are required. Adults (19 years of age and older) must deposit enough to increase their balance to $25.00 within 14 days of opening new accounts.
Are there fees and charges associated with a savings account?
Yes; a $1.00 fee to defray the administrative cost of opening an account. Share accounts that have had no deposits or withdrawals for 24 months or more are considered inactive and are subject to a $2.00 per month dormant account fee. A minimum deposit of $5.00 will keep your account active.
How long do I have to be a member before applying for a loan?
You may apply for a loan at anytime after becoming a member of the MPBC FCU.
How do I apply for a loan?
To apply for a loan, complete and return a loan application. A loan application can be printed from the credit union page on the MPBC website or picked up at the credit union office at any time (at the door). After a successful credit check, you will be notified when you can pick up your check.
Is my money safe in the MPBC FCU?
Yes, the National Credit Union Administration, a U.S. government agency, insures your savings up to $250,000.
Do you offer payroll deduction or direct deposits?
No, however we encourage members to use the online ‘bill pay’ option at their bank to make deposits or payments to their credit union account. The bank mails a check to the credit union and the check is deposited into your account the next business day and you are notified of the deposit via email.
It is not convenient for me to get to the credit union to make deposits; does that disqualify me from doing business with you?
No, you can make deposits to your accounts or loan payments at your convenience. You may place a check and deposit slip in the drop box on the credit union door. (Deposit slips and envelopes are at the door.) OR you may place a check in one of the special credit union envelopes and drop it in the offering basket on Sunday. CHECKS ONLY – NO CASH PLEASE. Your receipt will be mailed the next business day.
Is your loan interest rate comparable with banks?
We did a survey and our interest rates are comparable with other lenders.
Can children open accounts at the MPBC FCU?
Yes, children (under age 18) can open accounts, and the parent will be the custodian of the account. Any withdrawals must be approved by the parent.
Will my financial information be protected?
Yes, credit union volunteers keep all financial information in strictest confidence.
Can a parent or grand parent open an account in a child's name?
Yes, the child’s date of birth and social security number are required to open the account. Because the child is a minor, the parent, guardian or responsible adult must be custodian of the account.