El Monte Community Credit Union
 
 

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Savings
Each El Monte Community Employees Credit Union earns competitive dividends.  Anerican Share Insurance, the nation's largest private deposit insurer, insures each member savings up to $250,000 per account.

Regular Share Savings
This is your basic account for membership.  To join El Monte Community Employees Credit Union you must maintain a regular share savings account with a minimum of $25 and pay a $1 lifetime membership fee.

Share Draft (Checking)
El Monte Community Employees Credit Union offers free checking accounts.  You may write as many checks per month as you like.  We do not charge a monthly service fee or a per check fee.

Money Market
Earn a higher yield while still having your savings readily available.  Dividends on the Money Market account are credited monthly.  The minimum deposit required for you to open a Money Market accout is $500.  The minimum amount you may withdraw is $500.

Term Share Certificates (CD's)
Lock in a higher yield for your choice of terms from three months to twenty-four months.

Individual Retirement Accounts - Traditional IRA
Save safely for your future.  Your IRA enjoys the protection of private share insurance up to $250,000, separate and in addition to the coverage on your savings accounts.  The account may give you a tax break while you're working, as annual contributions may be tax deductable.  You'll pay taxes on withdrawals at retirement, when you're likely to be in a lower tax bracket.  Please consult your tax advisor to find our if this account is good for you and if your contrubutions well be deducted.

 

Tax Year Maximum Contribution
2002-2004 $3,000
2005-2007 $4,000
2008 $5,000

Coverdell Education Savings Account (ESA)
Conributions can be made for up to $2,000 annually per child.  Contributions are not tax deductable.  Withdrawals for certain qualified education expenses are tax-free.  Qualified education expenses may include tuition, fees, books, computer equipment and technology required for elementary, secondary and post-secondary education.

Roth IRA
You can contribute $3,000 through 2004.  Higher limit applies if age 50 or older.  Contributions are not tax deductable.  Earnings are tax-free if the account is open for five tax years and withdrawn for a qualified reason.  Not required to start withdrawals at age 70.  Regular contributions can be withdrawn tax and penalty-free at any time.

Cub Club Savings
The Cub Club is for kids up to age 12.  There is no membership fee to open the account.  The minimum deposit is only $10.  Dividends begin paying a $100.

Loans
We make loans for every purpose, from vehicles to real estate.  Our rates are generally lower than banks.

Vehicle Loans
Loans for virtually anything that moves you, including cars, trucks, vans, SUV's, boats, RV's and motorcycles, all at terrific low rates.

New Vehicle Loans
Our great rates and flexible terms make your next car more affordable.

Used vehicle Loans
We also offer excellent rates on used vehicles.  We will finance 100% of high blue book retail value plus tax, license, MBI and GAP Insurance.

Mechanical Breakdown Insurance
Unexpected repairs can take a big bite out of your wallet, so protect yourself with Mechanical Breakdown Insurance.  We offer lower premiums and longer terms than dealers' extended warranty programs, while providing the same coverage.

GAP Insurance
If your vehicle is stolen or totaled, insurance generally pays only the actual cash value.  You're responsible for any difference between what your insurance pays and what you still owe on your car loan.  Guaranteed Auto Protection (GAP) preotects you by paying this difference.  Ask about it when you apply for an auto loan.

VISA Classic and VISA Platinum Card
With low fixed rates, no annual fee and worldwide acceptance, an EMCECU VISA Card is the best choice for your credit needs.  Our Classic VISA features a 13.90% APR, while our Platinum VISA has a 10.90% APR and comes with these extra benefits:

  • Higher credit limits
  • Free rental car isurance
  • Purchase protection
  • Extended warranties
  • Free travel service

Apply for an EMCECU VISA Card and enjoy one of the best credit card values around.

Real Estate Loans
When you're  in the real estate market, you want not just the lowest rates, but also the widest possible selection of loan options, as well as an experienced staff to explain those options to you.  El Monte Community Employees Credit Union offers a wide variety of fixed and/or variable rate 1st Trust Deed Mortgage loans.

Home Equity Loans
A Home Equity Line of Credit is a self-replenishing Open-end, cariable rate loan secured by a second or first deed of trust on a member's woner-occupied property.  The minimum line of credit is $10,000 and the maximum is $150,000.  The El Monte Community Employees Credit Union offers a very competitive rate on Home Equity Line of Credit Loans.

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