| Q. |
What
is the field of membership? |
| A. |
Regular
members of Shia Imami Nizari Muslim faith who attend any of
the Jamatkhanas (Churches) can become a member of our Credit
Union. |
|
|
| Q. |
What
is the minimum deposit for opening an account? |
| A. |
A
member can open an account with minimum deposit of $20.00 |
|
|
| Q. |
What
are the fees for having an account? |
| A. |
A
negligible fee of $20.00 is charged at the time of opening the
account. There are no monthly fees or maintenance fees. |
|
|
| Q. |
What
is the benefit of becoming a member of this credit union? |
| A. |
By
becoming a member of our credit union a member can avail various
financial services offered by our credit union, such as Personal
Loans, Auto Loans, Student Loans, Share Secured Loans, Wire
Transfers, etc. |
|
|
| Q. |
Is
my deposit secured? |
| A. |
Yes,
your deposits are secured and insured up to $100,000 by NCUA
(National Credit Union Administration), a government agency. |
|
|
| Q. |
Why
should I keep my savings in my credit union share account? |
| A. |
Any
member opening a share account with a credit union becomes the
owner of the credit union and is entitle to receive dividends
declared by the credit union. Also we offer a high rate of interest
on Certificate of Deposits. |
|
|
| Q. |
How
much dividend will I receive? |
| A. |
Dividends
are not fixed rate of return, they vary depending on the performance
of the credit union in a given period. For the year 2001 we
have declared a dividend at 3% per annum which you cannot expect
from your savings account or even from your money market account
at this point of time. |
|
|
| Q. |
What
is the maximum loan I can get from Platinum Federal Credit Union?
|
| A.
|
A
new member can avail personal loan up to $25,000. There
is no maximum amount on auto loans. It will be based on
the value of the car determined from NADA book. He/she can
also avail student loan up to $5,000 per year and
share secured loan up to $100,000. |
|
|
| Q. |
What
are the loan processing fees? |
| A.
|
Please
refer to the Fee Schedule.
|
|
|
| Q. |
Where
can I do the wire transfer? |
| A.
|
A
member can wire his funds to almost any country. |
