ADA Employees

        Credit Union

6603 Kirbyville Street
Houston, TX 77033
ph: 713-640-0160
fax: 713-640-0151

What we offer

LOANS GIVE YOU A CHANCE AT TOMORROW….TODAY!

   The AECU grants loans for new or used autos, home appliances and furnishings, one payback loans, revolving loans, and signature loans for those who qualify.  We offer attractive loan rates to fit most anyone.  And it’s easy to apply for a loan.  Applications are available at most of our member companies offices or you may call to have one mailed or faxed to you.  The entire loan application must be completed  to be considered.  Once your application is received and updated with your current membership statistics, (your share balance and loan history with AECU), it is submitted to the credit committee for review.  They consider your credit history, your ability to repay, your membership history, etc.  Most loans are approved in less than one day.

   Employees pay their loans by payroll deduction.  Non-employee members pay by mail or electronic bank transfer.  The loan document signing can take place in person, interoffice mail or U. S. mail.  You are provided with a copy of your loan conditions and an amortization schedule that shows you when your payments are scheduled and the distribution between principal and interest.  AECU mails each member a statement quarterly that shows balances on all share and loan accounts.

   Auto loans require share deposits equal to the amount of insurance deductible and confirmation of insurance showing AECU as loss payee.

   Signature loans (unsecured) are limited to contributing members (depositing every payday) and are repaid at a minimum of $13 per pay period.

   Remember, when you borrow from AECU, you are borrowing from your fellow employees, not from any company.

CURRENT LOAN RATES

Secured                                4%

New Car (48 mos.)   6.25-5.50%

New Car (60 mos.)   6.50-5.50%

Used Car (< 2 yrs)   9.00-7.50%

Used Car (> 2 yrs) 10.00-8.00%

1 payback, secured              4%

Unsecured                         14%

 

  • Share savings

    .

    TYPES OF ACCOUNTS

    REGULAR, PRIMARY MEMBER ACCOUNT

       This is the most common type of account, with only one person being named as the primary member.  The primary member is eligible to use all of the Credit Union services and is also eligible for Shareholders’ Survivors’ benefits.  A member can have only one membership (voting rights) and his/her name can appear first on only one account.

    JOINT ACCOUNT

       With this account a second name appears on the membership card with the primary member.  Although the joint owner is eligible to save or withdraw, they cannot vote at the annual meeting, or be eligible for Shareholder’s Survivors benefits.

    SPECIAL ACCOUNTS

    Specific accounts for Christmas, Vacation, & tax savings are available with one free withdrawal per year.

     Accounts may be opened for husband, wife, children or grandchildren.

     

    CURRENT SHARE DIVIDEND RATES

     As of the last dividend declaration date, January 1, 2010, if your daily average balance was the amount in Column 1, the dividend rate paid on the entire balance in your account was the amount in Column 2, with an Annual Percentage Yield (APY) equal to the amount in Column 3.

     

                Column 1                                             Column 2                      Column 3

     

    Balances $100 to $999.99                                    0.0%                            0.0

    Balances $1,000.00 to $9,999.99                         0.50%                          0.501

    Balances $10,000.00 to $29,999.99                     0.75%                          0.76

    Balances over $30,000.00                                    1.50%                          1.51

    The dividend rate and annual percentage yield may change with every monthly dividend period as determined by the Credit Union Board of Directors.

     

     

  • PROTECTION FOR YOUR SAVINGS

    Your money is protected by the National Credit Union Administration up to $250,000. 

     

         "The National Credit Union Administration (NCUA) is the federal agency that charters and supervises federal credit unions and insures savings in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government."

To become a member…

  1. Complete a membership application
  2. Enclose $5.00 or more for your 1st deposit, plus $.25 enrollment fee.
  3. Maintain $100 balance within 6 months.
  4. Complete a payroll deduction authorization.
  5. Include a copy of your Driver’s License and Social Security Card

Note:  Employees participate through payroll deduction.

 

PROTECTION NOW…

FOR TOMORROW

 

   AECU provides its members with a free life insurance policy equal to their shares up to $4,000 if deposited prior to age 55.

   Also free, the loan protection plan provides that the balance on loans up to $15,000 per member will be paid in the event of death or permanent disability prior to age 70.

 

6603 Kirbyville Street
Houston, TX 77033
ph: 713-640-0160
fax: 713-640-0151