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| For current rates click here |
- Minimum balance to open is $5
- Minimum balance to earn interest is $25
- Free ATM card
- Free online banking
- Free telephone banking
- Free use of GCU coin machine
- Direct Deposit available
- Free automatic transfers to pay GCU loans and mortgages
- Quarterly statements by mail or electronically
- No quarterly maintenance fees
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| Open an Account click here |
For our current fee schedule click here
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| For current rates click here |
- Minimum balance to open is $5
- Interest paid at current rate quarterly
- Free online banking
- Free telephone banking
- Direct deposit available
- No quarterly maintenance fees
- Quarterly statements by mail or electronically
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| Open an Account click here |
For our current fee schedule click here
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| For current rates click here |
- Minimum balance to open is $1,000
- Interest on CD’s is compounded daily and credited monthly
- Additional deposits are not allowed during the term of the CD
- Penalty of six (6) months interest for early withdrawals on amount withdrawn
- CD’s will automatically renew at maturity, you have seven (7) calendar days to withdraw funds from the account without penalty or make additional deposits
- Rates are locked for the period of time chosen and at maturity will be rolled over for the same term at the current interest rate
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Quarterly statements by mail or electronicallyOpen an Account click here
For important account information click here
For our current fee schedule click here
GCU offers a variety of Individual Retirement Account (IRA) products to save for retirement including Traditional, Roth and Simplified Employee Pension Plan (SEP) IRA’s and also Coverdell Education IRA’s to save for a child’s education. We offer IRA savings accounts and IRA CD’s from three (3) months to five (5) years. To open or add to an existing IRA please contact our member service department at 401-739-4600 or e-mail at info@greenwoodcu.org.
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Contribution limit up to $5,500 (if you are over age 50 then $6,500)For current rates click here - Contributions cannot be made for more than your earned income for the year
- Contributions can be made until age 70 ½ or when you stop working whichever comes first (if you have a spouse still working and are under age 70 ½ contributions can still
be made in your name) - No penalty withdrawals may begin at age 59 ½ and are required at age 70 ½
- Tax deductible contributions (if you qualify)
For a quick comparison to ROTH IRA click here
For important account information click here
For our current fee schedule click here
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Contribution limit up to $5,500 (if you are over age 50 then $6,500)For current rates click here - Contributions cannot be made for more than your earned income for the year
- No required age to start taking distributions
- You can continue to contribute after age 70 ½ as long as you have income
- Taxes are paid on the funds deposited now instead of later
For a quick comparison to Traditional IRA click here
For important account information click here
For our current fee schedule click here
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Maximum yearly contribution is $2,000For current rates click here - Contribution can only be made until the beneficiary reaches the age of 18, although there are special circumstances which allow contributions after the age of 18
- Distributions for qualified educational expenses are tax free
For important account information click here
For our current fee schedule click here
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To qualify you must be either a sole proprietor, business owner, in a partnership or earn self-employment incomeFor current rates click here - Contributions can be made until age 70 ½ or when you stop working whichever comes first
- No penalty withdrawals may begin at age 59 ½ and are required at age 70 ½
- Tax deductible contributions (if you qualify)
- Contributions can be made by the employer for between 0% - 25% with a maximum of $51,000 for 2013
For important account information click here
For our current fee schedule click here
Traditional vs. ROTH IRA comparison
Effective Date 01/01/2013
Traditional |
ROTH |
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| Contribution limits if under age 50 | $5,500 |
$5,500 |
| Contribution limits if over age 50 and over | $6,500 |
$6,500 |
| Contributions tax deductibility | Contributions may be |
Contributions are not tax deductible |
| Distributions requirements | Withdrawals required |
No mandatory distributions |
| Contribution age limits | No contribution after age 70 1/2 |
No age limit |
For more information on Traditional and ROTH IRA’s please view IRS publication 590.
GCU banking goes wherever you go. Your ATM card provides quick and easy access to your GCU accounts from any ATM. To apply for an ATM card please contact our Member Service Department at 401-739-4600 or e-mail at info@greenwoodcu.org.
Click here for a complete list of our extensive statewide free network of ATM locations.
This is a promotional product and may not always be available. With Absolutely Free Checking you get:
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No monthly service chargeOpen an Account click here - No minimum balance requirement
- No charge for each check deposited
- No charge for use of the coin machine
- Free online banking with bill payment
- Free telephone banking
- First box of checks free
- Free VISA debit card (for more information click here)
- Monthly statements by mail or electronically
- Free automatic transfers to pay GCU loans and mortgages
- Free automatic payments of loans and mortgages at other institutions
For important account information click here
For our current fee schedule click here
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| For current rates click here |
With Traditional Checking you get:
- No service charge if you maintain the minimum balance of $400. If your balance falls below $400 at any time during the month, you pay a service charge of $5 for that month
- No service charge if direct deposit is setup
- No minimum balance requirement
- No charge for each check deposited
- No charge for use of coin machine
- Free online banking with bill payment
- Free telephone banking
- First box of checks free
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Free VISA debit card (for more information click here)Open an Account click here - Monthly statements by mail or electronically
- Free automatic transfers to pay GCU loans and mortgages
- Free automatic payments of loans and mortgages at other institutions if any
For important account information click here
For our current fee schedule click here
With Interest Checking you get:
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No service charge if you maintain the minimum balance of $1,000. If the balance in the account is at least $1,000 for every day of the month, then the account imposes no service charge for that month. If the balance in the account is less than $1,000 for any given day during the month, a service charge of $7 will be imposedFor current rates click here - Current interest rate on your balances $1,000 and over
- Interest is credited at the end of every month. However, the account does not pay interest on any day in which the balance in the account is less than $1,000
- No minimum balance requirement
- No charge for each check deposited
- No charge for use of the coin machine
- Free online banking with bill payment
- Free telephone banking
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First box of checks free - Free VISA debit card (for more information click here)
- Monthly statements by mail or electronically
- Free automatic transfers to pay GCU loans and mortgages
- Free automatic payments of loans and mortgages at other institutions
For important account information click here
For our current fee schedule click here
GCU banking goes wherever you go. GCU offers VISA debit cards for checking accounts which allow you quick access to your funds though an ATM machine and replaces the need to write checks when purchasing products or services at any merchant who accepts VISA. To apply for a VISA debit card please contact our Member Service Department at 401-739-4600 or e-mail at info@greenwoodcu.org.
Click here for a complete list of our extensive statewide free network of ATM locations.
For additional information about the Verified by VISA DEBIT CARD program, click here
To login to the Verified by VISA DEBIT CARD program, click here
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| For current rates click here |
To apply for a loan, please contact our loan department at 401-739-4600 option 5 or e-mail us at loandepartment@greenwoodcu.org.
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| Open an Account click here |
GCU VISA offers low rates, no annual fee, no balance transfer fee, and hassle-free service. GCU has been offering credit cards with an interest rate as low as 9.9%. To apply for a credit card, please contact our loan department at 401-739-4600 option 5, e-mail at loandepartment@greenwoodcu.org, or simply click the link to the right.
For additional information about the Verified by VISA CREDIT CARD program, click here
To login to the Verified by VISA CREDIT CARD program, click here
The GCU Visa Gift Card – a perfect gift for anyone on your list no matter what the occasion – birthday, wedding, anniversary, holiday or graduation! The versatility of the GCU Visa Gift Card allows you to make purchases nearly anywhere VISA are accepted. So why waste time trying to figure out their favorite restaurant or store? With a GCU VISA Gift Card, the possibilities are endless.
The GCU reloadable card is perfect for your college student living away from home.
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| For current rates click here |
With GCU’s personal unsecured loan you can borrow up to $10,000 for debt consolidation, automobile repair or whatever planned or unplanned event that may come your way.
To apply for a personal unsecured loan, please contact our loan department at 401-739-4600 or e-mail at loandepartment@greenwoodcu.org.
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| For current rates click here |
- With this overdraft protection if you overdraw your checking account GCU will transfer the amount of the overdraft from this line of credit to your checking account for a low fee of $1.00 per transfer instead of being charged the current overdraft fee
- This line of credit has no annual fee and does not need to have a balance maintained
- Interest is only charged when there is a balance on the account
To apply for a loan, please contact our loan department at 401-739-4600 option 5
or e-mail us at loandepartment@greenwoodcu.org.
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| For current rates click here |
To apply for a loan, please contact our loan department at 401-739-4600 option 5
or e-mail at loandepartment@greenwoodcu.org.
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| For current rates click here |
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| Open an Account click here |
Perhaps you need funds for education, home repairs, or other important purposes. You can access the cash you need quickly - and the interest may be tax-deductible. We offer low fixed interest rates, flexible terms.
- Home Equity Loan
A home equity loan allows you to take out a specific amount of money for a term of up to fifteen (15) years with a fixed interest rate. Plus the interest may be tax-deductible.
- High-Loan-To-Value (HLTV) Equity Loans
GGU’s HLTV equity loans allow you to borrow up to 100% of the value of your home with fixed rates, fixed payments and low costs. The maximum loan amount is $35,000. - Home Equity Line of Credit
New 1.75% APR* introductory fixed rate for the first 12 month billing cycle. Enjoy fast, easy access to your money and comfortable affordable monthly payments. See your tax advisor for possible tax benefits.- No Fees of Closing Costs
- Easy to Apply Online
- No Annual Maintenance Fee
- Monthly Payments as low as $25/month or 1.5% of outstanding balance (whichever is greater)
Advertised introductory “Annual Percentage Rate (APR) of 1.75% is the lowest available and is fixed for the first 12 months. Offer based on individuals credit worthiness and subject to loan to value (LTV) of 80%. After the initial 12 month billing cycles, the rate automatically reverts to a variable rate of interest as low as Prime minus 0.50% as published in the Wall Street Journal 30 days before the date of any rate adjustment. As of 3/1/2013, Prime Rate was 3.25%. Offer limited to 1-4 family owner-occupied primary residence properties only. Property insurance (and flood insurance, if applicable) are required. Offer and rate is subject to change at any time without notice. Other terms and restrictions may apply. APR will not exceed 18% with a minimum rate of 2.75%. Minimum payment is 1.5% of unpaid balance or $25; whichever is greater. If Real Estate Line of Credit is paid in full and closed within twelve (12) months from the opening date, a prepayment penalty may apply. RI: up to but not to exceed 2% of the balance due at time of payoff; MA: remaining balance of first year’s interest of amount equal to last 3 months’ interest; whichever is less. Existing GCU Real Estate Lines of Equity lines/loans are not eligible for refinance with this promotion. Other rates and terms are available. Inquire for full details.
To apply for a loan, please contact our loan department at 401-562-2756,
e-mail at loandepartment@greenwoodcu.org, or simply click the link to the right.
Together, we’ll help you evaluate your best option.
GCU is proud of its affiliation with Rhode Island Student Loan Authority (RISLA), which provides safe, low cost education loans. It’s a great resource to help you bridge the gap between college financial aid and the cost of a college education.
State-Based College Loans, or the RISLA Student Loans for the 2013/2014 Academic Year are available through the Rhode Island Student Loan Authority
Two options are available:
Immediate Repayment Option: |
Deferred Repayment Option: |
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| For the Immediate Repayment Option: Click here | For the Deferred Repayment Option: Click here |
To apply, simply click on either of the links or call the GCU Loan Department at 401-562-2756.
New purchase or refinance
Whether you’re looking for your very first home mortgage, second home, investment property or to refinance your home, our experienced lending team is here to help you find the best mortgage for your needs and your budget…with low rates and closing costs, and a variety of mortgage plans. To apply, please contact GCU’s mortgage specialist at 401-562-2729.
Greenwood Credit Union has a wide variety of mortgage programs at low, competitive rates. We offer:
Conventional
- Fixed -where the rate or payment will not change over the life of the loan
- Adjustable rates - which typically have lower rates than fixed rate mortgages, and allow borrowers to qualify for a larger loan with lower initial payments
- High loan to value
- Less than perfect credit programs
- Free mortgage pre-qualification
Home Affordable Refinance Programs
Greenwood Credit Union is leading the way in refinancing with the newly enhanced and expanded provisions of the Home Affordable Refinance Program (HARP). If you have previously been unable to refinance because of declining home values, you may now be eligible to get a new more affordable mortgage. This program may help you qualify for today's low mortgage rates and GCU is here to help you. Call GCU's mortgage specialist at 401-562-2729.
If you have an existing GCU mortgage and are having financial difficulty please click here for information that may be able to help.
GCU is one of only four participating statewide lenders for the National Grid’s HEAT Loan Program. The HEAT Loan Program offers: 0% INTEREST FINANCING to qualified homeowners for certain energy efficiency improvements.
YOU MAY QUALIFY IF:
- You own a 1-4 Family House with Gas and/or Electric Account with National Grid
- You complete an EnergyWise Home Energy Assessment
- Receive a HEAT Loan Authorization Form
| Eligible Customer 1-4 Unit Property | Type | Loan Amount | Loan Term |
|---|---|---|---|
| Owner Occupied | Micro Loan | $500-$2,000 | 24 Months |
| Owner Occupied | 1-4 Unit Standard Loan | $2,001-$25,000 | Up to 84 Months |
| Non-Owner Occupied | 1-4 Unit Rental Property Loan | $5,000-$25,000 | Up to 84 Months |
Call today to schedule your Home Energy Assessment at 1-888-633-7947 or visit : www.nationalgridus.com/energywiseri
For over 15 year GCU has been one of the leading indirect sources for dealers in Rhode Island, Massachusetts and Connecticut. GCU prides itself in featuring competitive rates and quality service for our dealers. If you are interested in becoming part of the GCU Indirect Lending program please email us at greenwoodauto@greenwoodcu.org .
Click here for Indirect Dealer Info.
GCU can redeem series “EE” and “E” savings bonds at the teller line. Savings bonds can no longer be purchased at any financial institution but can be ordered online at http://www.treasurydirect.gov/.
GREENWOOD CREDIT UNION (“GCU”) wants to help you to protect yourself from online scams. One of the most common types of fraud is e-mail. Educating yourself is key to protecting your personal information as well as your computer. GCU will never request personal or financial information by e-mail.
COMMON SCAMS
- Phishing
E-mails are received claiming to be from someone (i.e., credit union, United States governmental agency) that you know and trust. The e-mail may request that you reveal (respond) with confidential information such as user ID, password, account numbers, social security numbers, etc. If this information is supplied, the criminal could use this to gain access to your accounts or identity. - Spoofing
Another way a criminal may gain access to your confidential information is spoofing. An e-mail may contain a link which would transfer you to a website or login page that appears to belong to a company or government agency familiar to you. This is called a “spoofed” site. The spoofed site will appear legitimate – but it is not. The criminal’s goal is to get your information. - Smishing
Here is how it works. A group calling itself “Security First CU” (which is no relation to any credible credit union) (they may also use another credit union name) may send a text message or e-mail to an individual. The message informs the recipient that their account is being closed due to fraud. The message requests the individual contact them to reactivate their account by calling a telephone number. Some of these scams may utilize a 909 area code as a call back number. Calling that number results in an automated request to enter personal information including credit card numbers. - Vishing
You would receive an automated message from your credit union or credit card company claiming that there is fraud on your account or unusually activity. In the automated call there will be a telephone number for you to call back. In the automated message, a telephone number is given for you to call and “verify” your personal information such as account number, PIN numbers, date of birth, etc., Once the information is entered the criminal now has your information and can gain access to your accounts.
After numerous reports of illegal activity, the fraudster’s telephone number has been shut down by the telephone provider. However, it is likely that the fraud will continue, utilizing a different telephone number.
This fraud is an attempt to obtain personal information from consumers. Consumers should NOT call the sender of this message nor take any other requested action. Under no circumstances, should personal information be shared in response.
Confidential information such as your name, date of birth, social security, driver’s license, credit card numbers, and bank account numbers may be obtained without your knowledge with the purpose to commit fraud or theft.
Your wallet may be stolen; information such as your statement (bank account, credit cards) may be taken from the mail or the trash (remember it is best to shred all banking statements or any material with your account information). Remember the information could be obtained from someone you know and trust.
What should you do if you have reason to believe someone has stolen your identify? Following the steps below but you should do this quickly:
- From the Federal Trade Commission’s web site (http://www.ftc.gov/bcp/edu/microsites/idtheft/) print and complete the ID Theft Affidavit.
- Notify your local law enforcement agency (local or state police). Complete and file a written incident report. Remember to get a copy for yourself.
- Submit both the completed FTC affidavit and a copy of the incident report to GCU.
If you suspect the e-mail or telephone call is not legitimate, DO NOT RESPOND!!!!
Helpful website:
National Credit Union Administration (www.ncua.gov).
The National Credit Union Administration (NCUA) is the independent federal agency that charters and supervises federal credit unions. NCUA, backed of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF) insuring the savings of 80 million account holders in all federal credit unions and many state-chartered credit unions.
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United Sates Government.
The Helping Families Save Their Homes Act on May 20, 2009, continued an increased level of insurance coverage on all accounts of up to $250,000.
NOTICE OF EXPIRATION OF THE TEMPORARY FULL NCUA INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the National Credit Union Administration (NCUA). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the NCUA up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
The term "noninterest-bearing transaction account" includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal ("NOW") account, money-market deposit account, and Interest on Lawyers Trust Account ("IOLTA"), even if share drafts may be drawn on the account.
Click here to review the brochure from the NCUA which explains briefly about the coverage.
NCUA Share Insurance Call Center, Tool Kit - Click here
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| Log in or Sign Up click here |
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| Log in or Sign Up click here |
Greenwood Credit Union now offers new members as well as existing members the ability to open deposit accounts online. All new members are required to open a share savings account with the minimum amount required.
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| Open an Account click here |
The online application process is simple, secure and will guide you through the process.
- The online application will take less than 10 minutes to complete
- As soon as your completed application has been approved, we will setup your deposit account within 2-3 business days (depending upon the funding option you selected)
Funding Your Account is Easy:
- If you are already a member, you can transfer funds from an existing account to the new deposit account
- Transfer funds from another financial institution
- You can use a debit or credit card. We will charge the card the amount you have designated
- Or simply mailing a check to us at 2669 Post Road, Warwick, RI
You will receive a Welcome Packet once all documentation has been received by GCU.
To begin the account opening process, simply click the link to the right.
Online Loan Application
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| Open an Account click here |
To apply for a Home Equity Loan, Home Equity Line of Credit or a VISA credit card click here
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| Sign up or Make a Payment online click here |
Looking to pay your GCU loan but don’t have a checking account with us? No problem you can pay your GCU loan using a bank account with another financial institution or a credit card.
To make an Online Loan Payment, simply click the link to the right.
The GCU mobile banking apps are easy to download to your iPhone, Android or iPad. There is no charge to download the APP, nor any charge for using mobile banking. For more information click here!
Greenwood Credit Union offers safe deposit boxes in various sizes.
Please see below for sizes and annual fee:
Size |
Annual Fee |
| 3”x5”x21” | $35.00 |
| 5”x5”x21” | $45.00 |
| 3”x10”x21” | $50.00 |
| 5”x10”x21” | $75.00 |
| 7”x10”x21” | $100.00 |
| 10”x10”x21” | $125.00 |
For current availability please contact teller line at 401-562-2748.
GCU offers travelers’ checks to our member in denominations of $50 and $100. There is a $1 fee for every $100 of travelers’ checks purchased. To purchase travelers’ checks please come into the GCU and visit our teller line.
GCU offers money orders for amounts up to $1,000. There is a $3 fee for all money orders.
Wire transfers can be arranged when you need to send or receive money quickly without having to wait for a check to clear.
For all outgoing and incoming wire fees please click here for the fee schedule.
In order to send a wire be sure you have the financial institution's full wire instructions.
For a domestic wire (inside the US) we will need at minimum the following information:
- Name of the receiving financial institution
- Receiving financial institutions address
- Bank ABA (routing) number
- Beneficiary Name
- Beneficiary Physical Address (we cannot use a PO Box)
- Beneficiary Account number
- If there are any specific instructions
For an International Wire we will need at minimum the following information:
- Name of the receiving financial institution
- Receiving financial institutions address
- IBAN or Swift code
- Beneficiary Name
- Beneficiary Physical Address
- Beneficiary Account number
- If there are any specific instructions
To wire funds into an account at Greenwood Credit Union the wiring instructions are as follows:
Receiving institution is Alloya FCU (Formerly Members United Corp. FCU), Albany, New York
ABA Number: 221381715
Further Credit To: Greenwood Credit Union 2669 Post Rd Warwick, RI 02886
Account Number: 211590671
For Final Credit to: Members Name and Account Number
Address for Alloya FCU is:
1021 Watervliet-Shaker Road
Albany NY 12205
Address for Greenwood Credit Union is: 2669 Post Road Warwick, RI 02886
One More Benefit of membership
Sprint Nextel is offering discounted rates to our members on their wireless services.
Greenwood Credit Union members can enjoy:
- 10% off most regularly priced Sprint Nextel service plans
- 15% off most corporate liable wireless plans
- Waived activation fee
- Nationwide coast-to-coast coverage
- National rates with no roaming and long distance charges
- Existing Sprint Nextel customers can also save
Sprint Nextel Services - preferential rates - savings for members. 10% discounts on all monthly recurring charges, waived activation fee on new lines, and waived upgrade fee. Additional savings for corporate liable accounts.
Call 877.SAVE.U.CU (877x728x3428) and tell them you're a "Credit Union Member"
Ask to be attached to the NACUC_ZZM Corporate ID
or
Visit: www.SprintSave4CU.com or
Go to: the nearest Sprint store
If you're an existing customer please visit:
www.sprint-discount.com and under "company/organization name" enter: Credit Union Member
Get valuable information to help buy your next new or used car, click here
If your Greenwood Credit Union VISA Credit, Debit, or ATM card is lost or stolen, you should notify the Credit Union IMMEDIATELY. The credit union can be reached during normal business hours at 401-739-4600. After hours and on weekends please call 800-754-4128 for VISA Debit Cards and 800-322-4058 for VISA Credit Cards. In case of a stolen card, notify the police department as well. Also please note your card number down on a piece of paper and keep this information in a secure area as you will need it when you call in after hours and on the weekend.
