Share and Savings

Share Account Type

Regular Share Account is your demand account. You may withdraw from this account anytime. Every member is required to open and maintain a $25.00 min. balance in this account. Dividends are paid monthly to this account.

Christmas / Vacation Club Account

These accounts can payout annually if desired. Every member is required to open and maintain a $25.00 min. balance in this account.

6 Month & 12 Month

The certificates are Payable at Maturity. The dividends are paid monthly to this account. Minimum of $1,000 to purchase a share certificate. Certificate rates are determined monthly.

Checking

Share Draft / Checking Account

This is a checking account. Money may be transferred from the Regular Share account and deposited into this account. Every member is required to open and maintain a $50.00 balance in this account. Any amount over the $50.00 is always available to the member. The $50.00 will become available to the member upon closing this account.

  • The credit union can assist the member with check orders
  • This account does not earn dividends
  • All members with a Share Draft account will receive monthly statements
  • Member may access funds from this account with an ATM/Debit Card
  • Low monthly fee, $2.00. Fee is waived if a $500.00 balance is maintained
  • All share accounts include Life Savings Insurance up to $3,000.00 provided by the Credit Union.

Loans

Unsecured Loans

The Credit Union offers unsecured loans to its members which gives the members access to funds ranging from $500.00 to $25,000.00.

Interest Rates vary depending upon credit score & disposable income.

Secured Loans

The Credit Union offers the following Secured Loan Products:

Share Secured Loan: The borrower uses an equal amount of their shares as collateral to secure the loan amount. The member's shares are "frozen". The specified amount of the shares is held by the credit union until the loan is repaid in full. The member continues to accrue dividends on the pledged shares and the frozen amount decreases in proportion to the outstanding amount owed on the loan each month.

Chattel Mortgage Loan: These loans are made for the purchase of items that are considered "immovable", which may include farm equipment, ATV's, computers, appliances, TV's etc. The item being purchased will secure the loan, the credit union will secure a lien on the purchase with the clerk of court in the parish in which the member resides.

New or Used Vehicle Loan: These loans are made for the purchase of vehicles and the borrower must secure the loan by assigning the credit union as the 1st lien holder on the title of the vehicle being financed. The credit union considers the a new vehicle to be current year & 1 year old. Any vehicle over 1 year old will be considered used. The maximum loan term is 6 years with approved credit.

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New or Used Boat Loan: These loans are made for the purchase of a watercraft and the borrower must secure the loan by assigning the credit union as the 1st lien holder on the title of both the boat and the boat trailer being financed. The credit union will secure a lien on the boat motor with the clerk of court in the parish in which the member resides. The credit union considers a new boat to be any boat that has never been titled, all others will be considered used.

Real Estate Loans: This loan may consist of raw land or developed property. We will only consider loans in which we hold the 1st mortgage. The member is responsible for obtaining a current appraisal on the property. Rates will be determined at time of loan consideration.

ATM Debit Card

ATM / Debit Card

An ATM/Debit Card is available with the Share Draft account. This service gives you access to your funds 24/7. This card may be used any place that accepts VISA.

Other Services

Home Banking

At Bayou Community Federal Credit Union, we offer account access 24 hours a day, 365 days a year via our Internet Home Banking feature. Current members, can click the login below or from the left menu to access our Home Banking website. If you are a member and don't currently have access, please contact the Credit Union for additional information.

Useful links

The Bayou Community Federal Credit Union offers links to other websites as a service to our members. Links to other sites are provided to assist in locating information. The Credit Union does not endorse, approve, or control these external web sites or any specific commercial product, service or claim the site mentions, or guarantee the accuracy, completeness, efficacy, timeliness, or correct sequencing of information the site may contain. By clicking on these links, you will exit Bayou Community Federal Credit Union's web site and be directed to the site of a third party. The Credit Union makes no representations, warranties, or guarantees of any kind or assumes any legal liability as to the operation of, or the information, content, or materials and products available on the third party site.

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