Business Member Benefits
We strongly support your business and employees
Cedar Point Federal Credit Union® is a strong supporter of local businesses. That’s why we offer several different planning and benefits packages that will not only help your business grow, but also help you recruit and retain employees.
Want to learn more from one of our seasoned professionals? Contact one of our Business Service Representatives.
Contact a Business Representative
Business Counseling and Executive Planning
Satisfying customers. Retaining quality personnel. Staying ahead of the competition. Earning a profit.
With all of these immediate concerns, it can be easy to make developing a solid business plan a back-burner project.
Cedar Point’s business counseling and executive planning services can help ensure that your business will thrive today, and when you’re no longer at the helm. This includes creating and implementing business development strategies, and assembling benefit plan options so you and your employees will thrive.
Employee Benefit Planning
Employers and human resource managers often need assistance navigating through the complex benefits and payroll process.
Cedar Point provides technology solutions with a personal touch. Our offerings have grown beyond traditional group health and ancillary coverage to include pension, 401(k), payroll, and workers’ compensation.
We’re committed to saving you and your staff time and money, providing access to appropriately designed benefits, and delivering quality service.
Aflac Benefit Packages
How do you respond to an employee who says, “My spouse was just diagnosed with a serious health condition. I need to take a leave of absence to help provide care. What do we have in our benefits package that will help me through this?”
The answer is simple: Aflac
American Family Life Assurance Company of Columbus (Aflac) is a leader in voluntary insurance products that pay cash directly to policyholders. Cedar Point Federal Credit Union offers Aflac to its employees and credit union members.
Why add Aflac to your existing benefits package?
- It’s free for your company.
- Immediately cut your company’s payroll taxes - 8¢ on every $1.00.
- Improve employee retention by providing a complete set of benefits.
- Provide your employees protection from financial disaster when they and family members experience medical events not covered by employer-funded benefits.
- It requires no out of pocket expense to set up. Aflac invoices in arrears after you have deducted the funds from the employee’s paycheck.
- Offers affordable coverage for your employees (weekly pre-taxed payroll deductions are less than $6.00 a week).
- It allows you to establish an IRS Section 125 Cafeteria Plan at no cost that can be used to pre-tax other medical insurance benefits as well as Aflac supplemental benefits.
Learn More
For more information about how to add Aflac to your company’s benefit package, contact Karen Devine at 301-904-9161. Be sure to mention that you learned about her services through Cedar Point Federal Credit Union®.
Credit Union Membership Benefits Your Employees
Cedar Point offers many products and services that can help your employees create a solid financial future.
Savings Accounts
When your employees join Cedar Point Federal Credit Union®, they will receive a basic savings account to begin growing funds for the future. A $5.00 minimum deposit is required to open an account. Earn a competitive dividend with an average daily balance of at least $100.00. Members may open additional savings accounts (Sub-accounts) anytime to help organize their savings and budgeting.
Money Market Accounts
Our Money Market Savings has a minimum balance of $2,500.00. Dividends earned are higher than that of the basic savings account, and with our tiered Money Market, the more the member deposits, the higher their dividend rate. Withdrawals are limited to six per month - with a minimum withdrawal amount of $250.00.
Checking Accounts
There are no minimum balance requirements or fees if your balance falls below a certain level. In addition, fees for services such as stop payments and check copies are typically lower compared to most financial institutions. Regardless of the number of checks written each month, we do not charge members for basic checking (there are service fees for stop payments, check copies, returned checks, or overdrafts). With an average daily balance of $500.00 or more, our checking accounts earn dividends.
Certificate Accounts
Certificate Accounts pay a higher dividend rate than the basic Savings account. The minimum deposit for a regular certificate account is $1,000.00. Funds cannot be deposited into existing accounts until maturity. IRA Certificates require a $500.00 minimum deposit. Members may make deposits throughout the year according to IRA disclosure limitations.
Check Protection
Cedar Point provides the following forms or overdraft protection:
- Our Savings accounts may act as overdraft protection for our Checking account.
- Overdraft Lines of Credit are available to members who qualify. Lines of Credit are available from $300.00 to $2,000.00. There is no annual fee and interest is charged only when Line of Credit advances are made.
- We offer Overdraft Privilege for eligible accounts. Overdraft Privilege allows members to overdraw on their account, up to the disclosed limit for a fee, in order to pay a transaction.
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