Products and Services

TFECU has all the products to suit your financial needs
This page last update February 25, 2008

 

Your savings are federally insured to at least $100,000.  All deposits with Tulsa Federal Employees Credit Union are insured by NCUA, the National Credit Union Administration, an agency of the Federal government and backed by the full faith and credit of the United States government.

Savings Programs

Share Savings - Our "membership account"- $5 minimum deposit to open, $50 minimum balance required to earn a dividend.  Dividends are figured daily and paid monthly.

Special "4" Savings - a good account to use as a vacation savings, club account or for almost any purpose.

Term Share Certificates - Certificate terms are normally from 60 days to 36 months and are a good investment that earn higher dividends than our daily savings account. A minimum deposit of $500 is required for the 24 month certificate and a deposit of $1,000 is required for all other certificates.  From time to time special certificates are offered and they may have separate minimum deposits and terms as described on our rate page.

Individual Retirement Accounts - Plan now for retirement with our IRA program. In addition to our regular IRA account we also offer IRA certificates from one to three years. IRA certificates require an opening deposit of $1,000 or more.

Checking Programs

To open a share draft checking account, you must have an open share savings account. Share draft checking accounts may be opened with a minimum deposit of $30.00. There is no maintenance fee if your balance is maintained at $300 or more. Should your balance drop below $300, there is a monthly maintenance fee of $5.00. Our share draft checking accounts earn dividends that are figured daily and paid monthly. TransFund ATM card and VISA Check Cards are available on this account.

We also offer a teen share draft checking account for members between 13 and 19. This program is the same as our adult share draft checking program except for a lower minimum balance of $50.00 to avoid the monthly service fee. This account does require the signature of a parent or guardian before we open the account.

Money Market Account - Great Rates Plus Flexibility

Open your Money Market Account with a deposit of $2,500 or more. The Money Market Account offers easy access to your money – write a check from your Money Market Account, make a withdrawal using the automated phone system or withdraw in person at the credit union.

Dividends on the Money Market Account are paid according to account balance tier.

$25 - $5,000
$5,001 - $20,000
$20,001 - $30,000
$30,001 - $50,000
$50,001 - $100,000
$100,001 plus

Rates are established monthly and are subject to change without notice.

If your account balance drops below $2,500 anytime during the month, there is a $7.50 service fee.

Transfers/withdrawals in a Money Market Account are limited to six per month. Of  the six, no more than three can be made by check. Any transfers/withdrawals that exceed six in a month will be charged $5 per each transaction.

There is no limit to the number of deposits that can be made to the Money Market Account.

Lending Programs

As a credit union member you may borrow for almost any purpose. The interest charged on our loans is based on the unpaid loan balance, therefore you may pay off the loan at any time with no prepayment penalty. For your convenience, we offer same day approval on most types of loans except mortgages.

It is easy to apply for a loan. The fastest way is to use the loan application on our home page. You may also apply in person at any of our eight offices. Need a payment amount? Use our loan calculator to determine what rate and term fits your budget.

Please note that to qualify for our published rates on all loans excluding NuPal, mortgage and deposit secured, you must have an active share draft account with the credit union. Otherwise the rate will be 1/2% higher. Also on some loans you may be able to reduce the interest rate by 1/2% by securing 10% of the loan amount in savings. Be sure to ask your loan counselor to determine if your loan qualifies for the discount.

Take a few minutes now and look at the wide variety of programs and plans we have to help you reach your goals.

Signature Loans
 
 

Signature loan	up to $15,000 for up to 48 months
NuPal Line of Credit	(overdraft protection) up to $4,000

Secured Loans
 
 

Deposit Secured	loans available for 2% above APR.
New Car *	- We will loan up to 100% of the MSRP
Used Car	- We will loan up to 100% of the NADA trade-in
Recreational Vehicle Loans	- Terms from 48 to 180 months.

* New car is defined as current model year and/or past model year with average mileage.

Mortgage Program

No Points and No Origination Fee Available on Some Programs!

$300 deposit is due at time of application.
 

Purchase Program and Refinance Program

Please check our Rates page for current information.

Second Mortgage

We loan 100% of the assessed value or 90% of appraised value of the home minus the amount of the first mortgage. The market value is determined by using the gross assessed value as determined by the County Assessor. Maximum loan amount using this method is $50,000. Members will pay for title insurance, flood determination and filing fees. These rates can be reduced by 1/2% with a 10% secured deposit.

Please check our Rates page for current information.  Rates are subject to change without notice.

 
 

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