Disclosures

How To Avoid Inactivity Fees

Did you get charged with Coloramo’s $15 Inactivity Fee in March? We don’t want to charge you the fee. We just want you to use your account with us!

There are many ways to utilize your credit union. A member’s account is considered ‘active’ by making at least one deposit every six months, using your checking account, having certificates, IRA’s, loans, credit cards, Christmas Clubs, accounts for minors or by maintaining a balance of $250 or more. Cashing checks against your account will NOT keep the account active! The posting of dividends does NOT count as activity. Accounts subject to this fee are those with no member activity occurring during the last six months.  Inactivity fees are charged each September and March.

Please understand that as a not-for-profit organization, we try to keep our costs low and this fee offsets the cost of printing and mailing statements to people who don’t use their accounts or just use their account to cash checks.

Because inactive accounts are also more susceptible to fraudulent activity, we try to keep the number of these accounts to a minimum. However, if you were charged and feel you got this fee in error, please contact a teller.