To avoid any of your BOFCU accounts being dormant, you must contact the Credit Union or complete a transaction on your account once a year. A monthly fee will be charged to each account that has not had any activity within a 12-month period.
An account is considered DORMANT IF:
- It has not been utilized (i.e. no deposits or withdrawals) for a period of one year or more. This excludes accounts with an IRA share, IRA share certificate, or regular share certificate.
- You have not engaged in any other transactions with the Credit Union (utilized other Credit Union services) for a period of one year or more.
An account is NOT considered DORMANT IF:
- You have indicated interest in the account in writing by verbal communication or by making a deposit or withdrawal.
Helpful Tip
Make sure you contact or process a transaction with the Credit Union at least once every year to ensure your account stays active. Contact us today if you have questions about your account.
