WIT Federal Credit Union
 
 
 

Products

Accounts

Share Accounts

$5.00 minimum deposit to open
Quarterly Statement
Dividend (interest) paid quarterly
Deposits insured up to $250,000 by NCUA

Share Certificates (Certificates of Deposit)

3 month to 5 Year terms available
Dividend (interest) paid at maturity
Deposits insured up to $250,000 by NCUA

Share Draft (Checking) Account

No minimum balance
No monthly fee
Monthly Statement
First 50 checks are free
Deposits insured up to $250,000 by NCUA

Money Markets

Rates vary based on balance
Limit of 3 withdrawals per calendar month
Minimum withdrawal amount of $500
Deposits insured up to $250,000 by NCUA

Online Banking / Bill Pay

Check balances or transfer from one account to another
No charge Bill Pay available – register online for this service

Debit Card

Available free with your checking account
Share Draft account (Checking) is required for making purchases with your Card

 

Loans

First Mortgage

Fixed Rates and Variable Rates Available
Conventional and FHA
Free Pre-qualification
Many rates, terms available

Home Equity Loans

Line of Credit

Amortized over 15 years
Up to 90% of property value (less first mortgage amount)
$10,000 minimum line of credit amount
Variable rate adjusted quarterly
Interest may qualify as a Federal income tax deduction
Rates based on prime
Available on owner occupied properties
Available on second residences if there is no first mortgage
Available on investment property if loan is in the first position
Property must be located in Monroe, Livingston, Ontario, Orleans, or Wyoming County
Closing costs paid by WIT (certain limits apply)

Fixed Rate Home Equity Loan (Closed End)

15 year term
Up to 90% of property value (less first mortgage amount)
Available on owner occupied properties
Available on second residences if there is no first mortgage
Available on investment property if loan is in the first position
Property must be located in Monroe, Livingston, Ontario, Orleans, or Wyoming County
Closing costs paid by WIT (certain limits apply)

Car & Truck Loans

New

Up to 100% of value plus, title, tax, and extended warranty
Terms of up to 72 months for loan amount less than $25,000
Up to 84 months for loan amount of $25,000 or more
Rates based on credit history and length of term
Gap Insurance is available

Used

Terms of up to:

72 months – two years old or less
60 months – 3 to 4-year-old model
48 months – 5 or more years old
Rates based on credit history and length of term
Gap Insurance is available

Motorcycle, RV, Boat, ATV, Snowmobile, or Tow Trailer

New

Up to 100% of value plus, title, and tax
Terms of up to 72 months
Up to 10 years for boats and RV’s
Rates based on credit history and length of term

Used

Up to 100% of NADA book value plus, title, and tax
Terms of up to:

72 months - Current model year or a year older
60 months - 4-year-old model
48 months - 5 or more years old
Up to 9 years for boats and RV’s based on age
Rates based on credit history and length of term

Personal Loans

Terms of up to 5 years
Rates based on credit history

Home Improvement Loans

Terms of up to 5 years
Rates based on credit score

Share-Secured Loan

Term and amounts are only limited by member's shares and desired term

Education Line of Credit/Loan

Student (usually joint with parent) may qualify for a line of up to $30,000
Student may take draws as needed during the first four years
Four year interest only payments followed by
Six years of principal and interest payments
These loans are not payment deferred government backed loans

Overdraft Protection on Share Draft (Checking) Accounts

Life and Disability insurance is available on most loans.

 

 
 
 

Office Hours

 

WIT Branch

M-W 9 am to 3:30 pm
Th-F 9 am to 4:30 pm
22 4th Street
Rochester, NY 14609
Ph. (585) 454-4580
Fx. (585) 454-4610

BTA Branch

M-F 9 am to 4 pm
1350 Buffalo Road – Lower Level
Rochester, NY 14624
Ph. (585) 328-0340
Fx. (585) 328-1391

Irondequoit Branch

M-F 11 am 5 pm
200 Perrin Drive
Rochester, NY 14622
Phone: (585) 342-5680
Fax: (585) 544-1843

 

 


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