The HDFCU is a nonprofit savings and lending institution that is member-owned and operated. Its purpose is to promote financial well-being amongst its members through share/savings accounts and to provide a source of low-cost credit for its members.
In 1970, a group of Hill District residents and business people founded the HDFCU with a purpose of improving the economic conditions of the community.
A community credit union provides an incentive for self-help, a savings institution with a personal interest, pride through co-ownership, and consumer education and counseling.
a.) Provides its members with access to loans for education, home repair, cars and other needs. b.) Provides its members with a safe and protected place -- right in the community -- to save their money. c.) Provides a way to share resources among the members of the community.
Anyone six months of age or more, living or working within the field of membership. (Please contact the HDFCU to verify your qualification).
Simply complete and sign a membership card, pay the $1.00 entrance fee and open a share/savings account with at least $5.00. (Legal guardians must complete the process for minors).
The members of the HDFCU own and control the credit union under the supervision of the National Credit Union Administration, an agency of the federal government.
A board of directors, elected from the membership by the membership, manages the credit union. Loan officers review the loan applications. A supervisory committee appointed by the board examines and reviews the financial affairs of the HDFCU.
Yes, up to $250,000 by the National Credit Union Administration, an agency of the federal government. This assures that your savings will be paid to you in full if your credit union ever becomes insolvent (fails) and has to liquidate.
Yes, it's called a dividend. The Board of Directors determines the rate in December of each year. It is paid to members after operating expenses and the required reserves have been set aside.
Only members may apply for loans. Our loan policy is available upon request.
After thorough investigation, all applications for a loan are either approved or rejected by the loan officer(s). The board of directors determines loan policies.
Yes, by loan protection insurance. The premiums of this insurance are paid by the member. In the event of death before age 65, or temporary permanent disability before age 65, the balance due on the insured loan up to $30,000 is paid.
Please contact the HDFCU for current rates.