StillServing
I know NOTHING !
BACKGROUND INFO:
Myself and 4 other friends with Trusts opened accounts in Oct '11. We were told that there were NO FEES if we kept a minimum $25 balance in the acct.
FAST FORWARD TO TODAY:
One of the guys went to put some money into his account and found out the account was closed in June due to "Lack of activity". The rest of us called Cedar Point to find out ours were closed as well for the same reason. We all went in and this is what we were told:
After one year of inactivity you are assessed an inactivity fee of $7 a month until the account runs out of funds, then it is closed. It stays on the books for about a year after the money runs out so it is easy to re-open.
This was NEVER communicated to any of at the time the accounts were opened so we bitched. They refunded 3 months worth of inactivity fees ($21 total) and reopened the accounts for us. You need to conduct at least 1 transaction (deposit/take out a $1) per year in order to avoid the fees/account closure.
IF YOU HAVE A TRUST ACCT AT CEDAR POINT FEDERAL CREDIT UNION, call or go in TODAY and check the status of your account !!!!
Myself and 4 other friends with Trusts opened accounts in Oct '11. We were told that there were NO FEES if we kept a minimum $25 balance in the acct.
FAST FORWARD TO TODAY:
One of the guys went to put some money into his account and found out the account was closed in June due to "Lack of activity". The rest of us called Cedar Point to find out ours were closed as well for the same reason. We all went in and this is what we were told:
After one year of inactivity you are assessed an inactivity fee of $7 a month until the account runs out of funds, then it is closed. It stays on the books for about a year after the money runs out so it is easy to re-open.
This was NEVER communicated to any of at the time the accounts were opened so we bitched. They refunded 3 months worth of inactivity fees ($21 total) and reopened the accounts for us. You need to conduct at least 1 transaction (deposit/take out a $1) per year in order to avoid the fees/account closure.
IF YOU HAVE A TRUST ACCT AT CEDAR POINT FEDERAL CREDIT UNION, call or go in TODAY and check the status of your account !!!!