Tuesday, May 1, 2012 As you know, NH Federal Credit Union is a not-for-profit, financial cooperative owned by our members, with a Board of Directors made up of volunteers responsible for assuring the vitality of the Credit Union for all of its members/owners.
For the last two years, we have been tremendously successful providing below-market rates for mortgages and consumer loans to help members reduce monthly expenses. Since 2009, members have saved more than $3 million by bringing their mortgages to us. Members who bring their auto loans to us are saving significant sums of money as well. In January and February, 2012, members saved more than $80,000 by bringing their auto loans to NHFCU.
Effective May 1, 2012, a new fee schedule will be implemented. The Board of Directors reviews the fee schedule annually. Their objective is not to charge fees for the sake of it, but, to provide the best possible services for all of NHFCU’s members with equitable pricing. This new fee schedule contains changes to just three of our current fees, along with the addition of eight “new” fees for handling things like bad addresses and abandoned property. Some of the other fee changes listed, like our share draft (checking) fee increase, represent service fees that have not changed in 20 years, yet the costs associated with the service have greatly increased.
Many of these fees can be avoided by remaining in contact with us or by using more services from us . The more you use NHFCU, the more we can help you save money in the long run.
Our below-market loan rates have proven incredibly beneficial for our members. Given the choice to increase rates or fees, the Board of Directors determined that our low loan rates were much more beneficial to members, especially in these difficult economic times.
A copy of the new fee schedule can be viewed and downloaded by clicking here: Fee Schedule
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