Excess Share Insurance is now available to Oxford Federal Credit Union members, insuring savings accounts up to $350,000.00 – the highest combination of federal/private savings insurance available to consumers.
This coverage is a combination of $100,000.00 per member provided by the National Credit Union Administration, an agency of the federal government, and $250,000.00 per member provided by the Excess Share Insurance Corporation (ESI), a licensed property and casualty insurer. And because Individual Retirement Accounts (IRAs) are insured separately, your savings and retirement accounts at the credit union could have combined federal/private coverage of $700,000.00.
ESI coverage is available to credit unions meeting strict underwriting criteria, which reflects the credit union’s commitment to safety and security.
This increased level of deposit insurance is available at no cost to our members.
Share Draft (Checking)
Members use Share Draft accounts for daily bill-paying needs. It gives you the freedom to access your funds without having to visit our offices.
- No minimum balance required
- No monthly service charge
- No per check charge
- Six transfers per month from your Share Account at no charge, to cover overdrafts.
- Free checks for members over 60.
Additional features of Share Draft Accounts include VISA Check Card and Overdraft Protection Line of Credit.
Club Accounts
Oxford Federal Credit Union can open your Holiday Club, Tax Club, Vacation Club, or a Club Account of your choice. This is the easy way to save ahead for that special "something." And your club account earns interestwhile you save!
Money Market
The minimum balance required for a Money Market account is $2,500.00 and features:
- A higher yield than regular share accounts
- No restrictions on number of deposits
- $50 minimum deposits
- Deposits can be made by payroll deduction
- No early withdrawal penalties
- Dividends can be transferred directly to share and share draft accounts
- Check our rates
IRA's
An IRA Share Certificate may be opened for as little as $500.00. Deposits may be made through payroll deduction on a regular basis. An IRA Share Certificate is offered for a term of three months to five years. Dividends are accrued daily and compounded monthly on the last day of the month. Many IRA contributions are fully tax-deductible. Even if only part of your contribution is tax-deductible, earnings are tax-deferred until withdrawal. Consult with your tax advisor about the benefits of IRA accounts.
Oxford Federal Credit Union offers Traditional, Educational, Roth, and SEP IRA options that earn attractive dividends and may have tax advantages.
