About Us
Catholic Aid Association Credit Union was chartered by the State of Minnesota in May 2001. For more than 131 years, the Catholic Aid Association has successfully focused on providing quality life insurance products; secure savings choices and tremendous fraternal programs and benefits for their members. In the early 1990s, the Catholic Aid Association, striving to provide more value to its membership, embarked on a plan to form a Foundation and a Credit Union. The Catholic Aid Association Foundation was formed in 1997 to promote fraternalism and charity and to support the Roman Catholic Church. The Credit Union was formed in 2001 to provide excellent financial products and services to Catholic Aid Association members and their families. Credit Unions were formed as member-owned cooperatives organized to promote thrift and make loans from accumulated savings. Credit unions are not in business for profit, but for service. They encourage members to accumulate savings out of income as a means of building economic security for themselves and their families, ultimately helping them help themselves to a greater degree of financial stability. Members save in a variety of savings accounts and that money, in turn, is borrowed to other members. After operating expenses and reserve requirements are met, loan income is returned to all members in the form of dividends and other services. The National Credit Union Administration (NCUA), a federal agency, insures each member's funds up to $250,000. This is an aggregate limit for all savings, checking and certificate products. In addition to individual NCUA coverage, account held jointly, in revocable trust accounts and in IRA accounts carry separate insurance protection up to $250,000 each. Michael McGovern, Board Chair Bernard Bastian, Vice Chair Harald Borrmann, Secretary/Treasurer Fran Barten Mary Fitzpatrick Harens F.L. Spanier John Torborg Dennis Olson As of December 1, 2009. Fees subject to change. Check returned for NSF* or Uncollected Funds $23.00 per check Check paid with NSF* or Uncollected Funds $23.00 per check Deposited item returned due to NSF or other reason $5.00 per item Stop payment of check (or series if lost or stolen) $20.00 per occurrence Check Printing varies by style Counter checks (set of 4) $3.00 per set Money Market Savings below minimum balance monthly $10.00 per month Collecting on a foreign item $10.00 per item Dormant Account Fee $3.00 per month ACH item returned for NSF* or Uncollected Funds $23.00 per item ACH item paid with NSF* or Uncollected Funds $23.00 per item ACH item returned to CU due to NSF* or other reason $25.00 per item Stop payment of ACH item $20.00 per item ATM withdrawal fee after 6 withdrawals per month $1.00 ATM surcharge fee varies based on ATM owner. Avoid surcharges at MoneyPass ATMs. Daily dollar limit for ATM withdrawals $200.00 For Visa check card purchases $5,000.00 ATM Withdrawal/Visa Check Card purchase paid with NSF* or Uncollected Funds $23.00 per item Depositing an empty envelope in an ATM machine $25.00 per occurrence ATM Card/Visa Check Card Replacement $5.00 per card Rush delivery of replacement card $20.00 per card Copy of Visa Check Card receipt $5.00 per copy Loan delinquency fee (after 15-day grace period) 5% of the payment due or $20, whichever is greater Loan payment returned due to NSF* or other reason $25.00 per occurrence Skip-a-Payment $25.00 per loan per occurrence if approved Replacement coupon book $5.00 per book Official check (after one per day) $2.00 per check Balancing of account/Account research (one hour minimum) $20.00 per hour Inactive membership $3.00 per month Defined as a member, over the age of 18, with no account activity for 1 year. Returned Statement without forwarding address $1.00 per statement Active Bill Pay Service Fee Free Inactive Bill Pay Service Fee $3.00 per month Cleared check $3.00 per copy Current activity $3.00 per request, Free on It’s ME 247 online banking Deposited item $3.00 per item Receipt $3.00 per item Statement $3.00 per statement Prior year tax information $3.00 per copy Domestic outgoing $15.00 per wire Foreign outgoing $50.00 per wire Foreign incoming $5.00 per wire Notary Service Free to our members *Non-Sufficient Funds (NSF)
The Mission of
Catholic Aid Association
Credit Union
To be exceptional in every way as the trusted financial partner of our members, together with the Catholic Aid Association, in supporting parishes, schools and other Catholic organizations. History of the Catholic Aid Association Credit Union
The Credit Union Benefit
NCUA Insurance
Board of Directors
Supervisory Committee
Deposit Account Fees
Automated Clearing House (ACH) Fees
ATM/Visa Check Card Fees
Go to www.moneypass.com and use the ATM locator to find locations. Loan Fees
Miscellaneous Fees
Copy Services
Wire Transfers
Copyright © 2009 Catholic Aid Credit Union. Questions? Email us at: Info@caacu.org