Welcome!

Welcome to Degussa Employees Federal Credit Union, a full-service, member-owned financial cooperative.  Loans, checking and savings accounts, debit cards and online banking - it's all here for you and your family!  All Evonik employees and their immediate family members are eligible to join.

Summer Loan Specials!

	Vacation Loans - Up to $2,000 for 12 months
	Back-to-School Loans - Up to $1,200 for 12 months
	Rates start as low as 8.90% APR* Want more savings on your rate? Set your loan up on automatic payment or payroll deduction and receive an additional .25% discount** *Loan rate based on terms and your credit qualifications and is quoted as Annual Percentage Rate (APR) ** Certain conditions apply; contact the credit union for details

New Overdraft Rules for Debit and ATM Cards

New Federal Reserve rules give debit and ATM card users additional options regarding overdrafts. In the coming months, Degussa Employees Federal Credit Union along with other banks, credit unions, and other financial institutions must offer you the ability to make decisions about overdrafts for transactions made with your debit or ATM cards.

Below is a notice explaining how we handle your overdrafts. Here are some key things you need to consider when reading the notice:

The Basic Facts

An overdraft occurs when you make a purchase or ATM transaction but don't have enough money in your account to pay for it. DEFCU will cover you when you become overdrawn for a nominal fee. This fee can apply each time you overdraw your account.

Generally, DEFCU can cover your overdrafts in one of two different ways:

• Standard overdraft practices. We will cover your transaction for a flat fee of $28.00 each time you overdraw your account. For example, if you make a purchase with your debit card for $150 but only have $100 in your account, your account will be overdrawn by $50 and we will charge you a fee. If you then make an ATM withdrawal for $50, your account will be overdrawn by $100 and you will be charged another fee. In this example, the fee for standard overdraft practices is $28, therefore you will pay a total of $56 in fees.

• Overdraft protection plans. DEFCU also offers a link to your savings account to cover transactions when you overdraw your account. This type of overdraft protection plan may be less expensive than the standard overdraft practices.

The New Rules

• You choose.  In the past, DEFCU automatically enrolled you in the standard overdraft practices for all types of transactions for qualifying members when you opened an account. Under the new rules, we must first get your permission to apply the standard overdraft practices to everyday debit card and ATM transactions before you can be charged overdraft fees. To grant this permission, you will need to respond to the notice and opt in (agree).      

• Existing accounts. If you do not opt in (agree), beginning August 15, 2010, DEFCU’s standard overdraft practices won't apply to your everyday debit card and ATM transactions. These transactions typically will be declined when you don't have enough money in your account, but you will not be charged overdraft fees.

• New accounts. If you open a new account on or after July 1, 2010, DEFCU cannot charge you overdraft fees for everyday debit card and ATM transactions unless you Opt In. If you open a new account before July 1, 2010, we will treat you as an existing account holder: you will receive a notice about our standard overdraft practices and will have to decide if you want them for everyday debit card and ATM transactions.

• Flexibility.  Whatever your decision, the new overdraft rules give you flexibility. If you opt in, you can cancel at any time. If you do not opt in, you can do so later.

• Checks and automatic bill payments.  The new rules do not cover checks or automatic bill payments that you may have set up for paying bills such as your mortgage, rent, or utilities. Degussa Employees Federal Credit Union may still automatically enroll you in the standard overdraft practices for these types of transactions. If you do not want our standard overdraft practices in these instances, call the credit union to explore your options.

To Opt-In to our Standard Overdraft Practices, click here to print an Opt-In Consent Form, then fax or mail it to the Credit Union.

For more information, visit WWW.FEDERALRESERVE.GOV/CONSUMERINFO

SOURCE: Board of Governors of the Federal Reserve System

Our Credit Union Offers:

	Low-interest loans for cars, boats, RV's, motorcycles, jet skis - and your personal lifestyle
	Convenient checking accounts
	High-yield savings accounts to help your money grow!
	FREE ATM and Debit Cards - carry your credit union in your pocket!
	FREE VISA Credit Card - rates as low as 9.90% (for qualified members)
	FREE Online banking and audio response for 24x7 access to your account

Be an Owner!

Although the Credit Union offers similar services as a bank, the Credit Union is not a bank.  The Credit Union is composed of members that take part in a not-for-profit, full service financial cooperative that shares its successes with its members.  This cooperative structure enables DEFCU to distribute profits to the membership in the form of:

	Higher dividends on savings
	Lower interest rates on loans
	Low or no fees for services
	State-of-the-art technology

Members are the owners of the Credit Union and each have an equal voice. Economic democracy is practiced at the Credit Union by you, the member, voting annually for the Board of Directors. Everyone has a voice.  The credit union idea of self-help monetary services was created in the mid-19th century and in 1909 the first U.S. credit union was established. Today, almost 85 million Americans are credit union members. So, when you say, "DEFCU is my credit union", you really mean it!