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Savings	Checking	Loans
Rates	Rates	Rates
Share Savings	Basic Checking	Auto
Certificates of Deposit	Overdraft Protection	Personal
Individual Retirement Account(IRA)		Recreational
US Savings Bonds		Agricultural
Market Index Certificates		Home Equity MHFA loans
VISA Check Card		Real Estate
		Share Secured
		Student Loan

Share Savings Account
There is no minimum balance required to open a share savings account.  There is also no minimum amount for deposits or withdrawals.  Statements are received on savings accounts quarterly.

Certificates of Deposit
We offer CD's in 3, 6, 12, 24, and 36 month terms.  There is a minimum deposit of $1000 on all CD's except the 3 month CD that has a minimum deposit of $10,000.  A substantial penalty will be imposed  for early withdrawals on all CD's.

Individual Retirement Account
IRA accounts are available at the Dawson Co-op Credit Union.  We offer IRA savings accounts, 1, 2, and 3 year IRA CD's, and IRA Market Index Certificate Accounts for 2 or 4 years.  All IRA earnings are tax deferred.  Check out our retirement calculators to help you save for your future.

US Savings Bonds
Series E, EE, and I savings bonds can be purchased at the Dawson Co-op Credit Union.  Savings bonds are issued at one half of their maturity value.

Market Index Certificates
Market Index Certificates can be an IRA or non IRA accounts.  Certificates are purchased in 2 or 4 year terms.  Your dividend rate is based on the Standard & Poors 500 Composite Stock Price Index(S & P 500).  If the S & P 500 increases, your dividend rate increases.  If the S & P 500 decreases, you will not earn a dividend but you will never lose your initial investment.

VISA Check Card
A check card can be used to make withdrawals, transfers, and balance inquiries on checking or savings accounts.  There is a $1 monthly service fee for which you receive 5 free ATM transactions.  Each additional transaction during the month will have a $.50 transaction fee.  You can use the ATM machine located at the Lac Qui Parle Co-op Oil Company and any other machine on the Shazam Network free of surcharges.  You can also use your check card in place of a check at any merchant who accepts VISA.

Checking Account
There is no minimum balance required to open a checking account.  Interest is earned on accounts with an average daily balance of over $500.  There is a $2 monthly service fee.  The fee is waived for students, senior citizens over the age of 65, and anyone maintaining an average daily balance of over $500.  Your monthly statement will list all transactions occurring on the account and for $5 a month your canceled checks can be returned with your statement.

Overdraft Protection
Overdraft protection is a revolving line of credit that can be attached to your checking account.  When your account becomes overdrawn, the line of credit advances in increments of $100.  A monthly payment is automatically deducted out of the checking account if the line of credit has a balance.  The account can be used at any time until your credit limit has been reached.

Auto
We offer automobile loans for both new and used vehicles.  When purchasing a vehicle if you have 20% down or equity, the initial rate is lowered by .50%  The repayment term can vary from 12 to 60 months and students can go up to 72 months for repayments depending on the N.A.D.A. book value of the automobile

Personal
Personal loans are offered either as secured or unsecured.  The repayment term can vary
depending on the type and condition of the collateral.

Recreational
Recreational loans can be from motorcycles, RV’s, boats, vacations, snowmobiles,
lawnmowers, and various other consumer loans.  The term of repayment will be consistent
with the collateral and dollar amount of the loan.

Agricultural
Agricultural is one of the main sources of income in the area.  The Dawson Co-op Credit Union offers crop operating, livestock operating, machinery purchasing and many other types of agricultural loans.  We have a loan officer available to assist you with all of your agricultural needs.  Please contact Bruce at the Credit Union with all of your agricultural needs.

Home Equity
We are currently looking at a Home Equity program to offer Credit Union members.  Contact us for more information if you have an interest in a Home Equity loan.  We also work with the Minnesota Housing Finance Agency to provide affordable financing for the improvement of housing for Minnesota residents with modest incomes.  Several different programs are available.  For more information check out their web site www.mhfa.state.mn.us.

Real Estate
Real Estate loans are offered for the purpose of the members primary residence.  Loans may be based on an amortization of no more than 25 years with a balloon payment due in 3 years.  The loan value can not be more than 80% of the appraised value of the home.

Share Secured
Share Secured loans are available to members that have savings or certificates of deposit at the Dawson Co-op Credit Union or any other institutions.  The rate of the loan is 2.00% above the annual percentage yield that is being earned on the collateral.  The account will be held as collateral for the loan.

Student Loan
Student loans provide the financial assistance students and their parents need to make their education become a reality.  The Dawson Co-op Credit Union offers a referral program through Student Loan Funding.
 
 

Federally insured by NCUA

We do business in Accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act