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50 Main Street
Millbury, MA 01527 Phone: (508) 865-8712 Fax: (508) 865-8713 |
My Community
Blackstone Valley
Chamber of Commerce
Worcester Regional
Chamber of Commerce
Blackstone River Valley
National Heritage
Corridor Commission
A deposit account that has checks issued against it, which the business uses for payroll, operating expenses, or other business needs.
MCU's business checking account generates a monthly statement, and allows ATM/Debit Card, Internet Banking, and Telephone Teller access. Overdraft Protection and Bill payer are not available.
Features and Benefits:
• Non-interest bearing
• No monthly fee
• No "per check" fees
• No minimum balance requirement
• Unlimited free usage at MCU ATMs
• $1.00 for each transaction at non-MCU
• .50 for Point of Sale Transactions
• Photocopy of cancelled checks included in statement (Check Imaging)
No-Fee Business Savings Account
A deposit account that is interest bearing, and is generally used to deposit funds not immediately needed by the member.
Features and Benefits
• Variable interest rate– must have at least $25.00 to earn interest
• No monthly fee
• No minimum balance requirement
• Unlimited free usage at MCU ATMs
• $1.00 for each transaction at non-MCU ATM
• Internet Banking access
• Telephone Teller access
• Monthly statement
BUSINESS MONEY MARKET SWEEP ACCOUNT
A deposit account that is linked to a business checking account. The member determines a specific balance limit to be kept in the checking account. Excess funds are automatically transferred into the sweep account to maximize interest earned.
Features and Benefits
• Interest bearing (variable interest rate) – must have at least $25.00 to earn interest
• Tiered rate based on balances:
$25 - $9,999
$10,000 - $49,999
$50,000 +
• No monthly fee
• No minimum balance requirement
• Internet Banking access
• Telephone Teller access
• Monthly Statements
Electronic Funds Transfer
An electronic transfer of funds from one financial institution to another. MCU is a FEDWIRE participant and transacts incoming and outgoing, domestic and international wire transfers. This service is only available to members.
Fees:
Outgoing Domestic Wires $15.00
Outgoing International Wires $50.00 – if sent directly to a
foreign bank
$15.00 – if first sent to a U.S. correspondent bank
Incoming Wires $10.00
Wires cannot be sent to a US financial institution that is not a FEDWIRE participant eligible to receive funds. The member must include a Routing Number for any US bank involved in the wire transfer.
NIGHT DEPOSITORY
A convenience provided for business members who wish to deposit their receipts after business hours. A Night Depository is a small vault located inside the Credit Union but accessible outside the premises. Business members interested in this service sign a contract with the branch they frequent.
Features and Benefits
• Disposable bags available for purchase
• Disposable bags Include security features designed to reduce fraud
• Member uses key to drop their deposit
• Key only works at branch where member has their contract
• No annual or maintenance fee
• $5.00 fee per key
Telephone Teller
• Up-to-date Balance and INTEREST on all your MCU accounts!
• TRANSFER FUNDS from account to account!
• MAKE A PAYMENT on an MCU Loan!
• CLEARANCE DATES on specific checks ... and more!
To activate MCUs Telephone Teller, have your account numbers handy, dial 508-860-7506, and follow the simple instructions.
Access your accounts 24 hours a day, seven days a week ... with NO SERVICE FEES!
Telephone Teller activities include:
| Checking Accounts Current balance Available balance Last 5 deposits and dates Last 5 checks cleared and dated Last 5 withdrawals and dates Specific checks cleared last 30 days YTD interest Previous YTD interest |
Savings Accounts Current balance Available balance Last 5 deposits and dates Last 5 withdrawals and dates YTD interest Previous YTD interest |
| Loans Principal balance Next amount due YTD interest Previous YTD interest Maximum credit line |
Mortgages Principal balance Escrow balance Next amount due and date due YTD interest YTD taxes paid Interest paid through date Next interest rate change date |
| Commercial Loans Principal balance Next amount due and date due YTD interest Previous YTD interest Maximum credit line |
Transaction transfer Deposit to deposit Deposit to loan |
INTERNET BANKING
A free service offering members online access to their accounts, 24 hours a day, 7 days a week, for the purpose of checking balances, viewing transaction history, making transfers between MCU accounts, and making payments to MCU loans.
Internet Banking is available on personal and business accounts.
Features and Benefits
• View Balances
• View Transaction History
• Transfer In
• Transfer Out
• Make Payments to MCU Loans
• Receive Payments from MCU Account
TT&L PAYMENTS
Treasury Tax & Loan Payments (or Federal Tax Deposits) are periodic deposits that employers who withhold taxes from their employees’ wages are required to make to the IRS. MCU accepts these deposits from their business members, and forwards them to the IRS. There is no processing fee for this service.
DIRECT DEPOSIT PAYROLL
With direct deposit, your employees will share the benefits of MCU membership… including FREE CHECKING, FREE INTERNET BANKING, FREE BILL PAYER, FREE TELEPHONE TELLER, FREE ATM OR DEBIT CARD and a variety of savings products. Your employees will also enjoy a full range of consumer and mortgage loan products with 24/7 application ability.