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The
following page was designed for kids to help them understand what a credit
union is all about and to have fun exploring the world wide web. These
links will take you outside the Mountain Laurel Federal Credit Unions web
site. Please remember that the credit union is not responsible for the
content of other websites you may visit or availability.
The staff at Mountain Laurel
Federal Credit Union would like you to stop into the credit union and see
for yourself what makes credit unions better than other financial
institutions. Here's some questions and answers concerning credit
unions...
What makes a credit union different?
Credit Unions are owned by
it's members. All money or profits that the credit union makes are
returned to the members in the form of dividends. Banks on the other hand have
stockholders who invest money in their bank in hopes of making a profit.
All money made at the bank are returned to the investors.
How does a credit union
work?
When you give money to the
credit union or make a deposit, the credit union can loan that money to
other members. The credit union charges that person "interest" on that
money. Interest is a fee that is paid by the borrower for use of the money.
The credit union uses the interest to pay bills and to pay dividends to
the members for the use of their money.
Who can be a member of
Mountain Laurel Federal Credit Union?
As long as you live, work, go
to school or worship in Elk, Cameron, McKean or Warren Counties you can
belong to the credit union!
Mountain Laurel Federal Credit
Union Kid's Club is designed to help our young members understand the
importance of saving money and have fun at the same time!
 Who
can join the Kid's Club?
Kid's from the ages of newborn
to 18 are invited to join the Credit Union Kid's Club as long as they or a
parent or relative live, work, worship or go to school in Elk, Cameron,
McKean or Warren Counties.
Membership Fee
To join, you must make an
initial deposit of $5.25 to open your share (savings) account. A share account is
the credit unions name for a savings account.
*Enrollment Prizes
Members will receive a small prize
for joining the Kids Club.
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Jackson, the
Credit Union Kid's Club mascot encourages kids to save money with
the credit union. Every time they make a deposit of $20.00 or more,
they can enter the Jackson's Savings Club monthly drawing! At the
end of every month, one winner will be drawn for a $20.00 prize. The
$20.00 prize will be deposited directly into the winners share
account. All the entries will be saved for a yearly drawing of
$100.00, which will be deposited into their savings account. |
MOUNTAIN LAUREL
FEDERAL CREDIT UNION RESERVES THE RIGHT TO CHANGE, IN ANY WAY, THE RULES AND
REGULATIONS OF THE KID'S CLUB. SEE THE CREDIT UNION FOR COMPLETE DETAILS! |
