CHARTER OAK WAIVES EARLY WITHDRAWAL PENALTIES FOR DEPOSITORS IN NEED
Exceptions Made for Members Experiencing Certain Hardships
Groton, CT-January 4, 2010-With unemployment rates on the rise, Charter Oak would like to remind depositors that the Credit Union waives penalty fees for individuals who lose their jobs or are facing other certain hardships when they withdraw funds from their share term certificates.
A long time benefit, the 70-year old Credit Union has always offered this overlooked option to depositors in need. Available exceptions for the waiving of early withdrawal penalties include: the involuntary loss of employment where the depositor is qualified for unemployment benefits, the death of the certificate holder or a member of their immediate family, the permanent disability of the certificate holder or a member of their immediate family, or a terminal illness experienced by the certificate holder or a member of their immediate family.
If you are a depositor experiencing any of these hardships and need to make an early withdrawal from your share certificate, stop by any Charter Oak branch location or call (860) 446-8085. Appropriate documentation of the hardship is required. For more information on Charter Oak's share certificates, visit CharterOak.org.
Charter Oak Federal Credit Union is a cooperative financial institution owned by its members. Membership is open to persons who live, work, worship, attend school, or volunteer in, and businesses and other legal entities located in New London County and Windham County, CT. Membership also extends to immediate family or household members.
