Our mission at Trades & Labor Federal Credit Union is to provide financial products, services, and education enabling members to achieve personal and financial goals to benefit their quality of life.

Rates
New Vehicle as low as 2.49%
Used Vehicle as low as 3.49% Used
Personal as low as 8.99%
Home Equity as low as 5.00%

Personal Accounts

  • Deposit of $30 required to open the account.
  • Must be 18 to have a checking account on your own or at age 16 with an adult.
  • No monthly maintenance or transaction charges
  • No minimum balance
  • Funds automatically transferred from savings -$2 fee per process
  • Earn dividends on balances over $500
  • Overdraft protection line of credit available -see loan tab for details.

All accounts are federally insured to $250,000 by NCUA, National Credit Union Administration, a US Government Agency.

  • Debit card is tied to checking at a cost of $5.00 per card issued.
  • Cards have a daily limit for purchases and/or cash transactions
  • Can be used anywhere VISA is accepted
  • Get cash as an ATM. TLFCU does not charge fees, but you may be assessed a surcharge from some ATMs.
  • Must be 18 to be issued a debit card (can be issued at 16 with an adult).
  • Should you lose or misplace your debit card or checkbook, call us immediately at 507-377-1863 to report what's missing. Our staff will be happy to help you.
  • If after hours call Shazam lost or stolen card support at 1-800-383-8000.
Share Savings
  • All members must have a savings account and maintain a minimum balance of $20.
  • Competitive dividends are paid quarterly on balances of $300 or more.
  • Deposits can be made conveniently in person, through payroll deduction, by mail, through ACH and direct deposit.
  • Having a share account represents your share of ownership in the credit union.

Special Shares

  • If your saving with a specific goal in mind, we can open a sub-savings account to enable you to easily monitor your progress.
Preferred Shares
  • For those who want to earn a little more dividends without locking into a term.
  • Minimum balance of $2,500 is needed to earn higher dividends.
  • Rate is tiered subject to corresponding balance.
  • Interest rate revert to rate of regular shares if balance falls below minimum.
Trust Accounts
  • Established for members of younger years.
  • Funds are not available for withdrawal until minor reaches the age of 18.
  • Dividends are paid quarterly on balances of $50 or more.
  • Account is a sub-savings to a regular share of the credit union.

All accounts are federally insured to $250,000 by NCUA, National Credit Union Administration, a US Government Agency.

  • The best gift you can give to yourself!
  • Make the holidays much more enjoyable when you are financially prepared.
  • Deposits can be made through payroll deduction or by other deposits throughout the year.
  • Funds are available on October 1st so you can get a jump on holiday shopping.
  • Early withdrawals are subject to a penalty fee.

All accounts are federally insured to $250,000 by NCUA, National Credit Union Administration, a US Government Agency.

  • Add to your retirement plan by putting funds into an IRA through payroll deposit each week.
  • Both Traditional and Roth IRAs are available.
  • Tax benefits -consult with your tax advisor to determine which IRA works best for you.
  • Term certificates are available at 12, 24, 36 and 60 months. See current rates or call the credit union.

All accounts are federally insured to $250,000 by NCUA, National Credit Union Administration, a US Government Agency.

  • Fixed rate of interest for the entire term of the investment.
  • Insured by NCUA for up to $250,000 per depositor.
  • Typically pays a higher rate of interest than a savings or preferred account.
  • Terms range from 6 months to 24 months.
  • Dividends are compounded daily and paid at maturity.

All accounts are federally insured to $250,000 by NCUA, National Credit Union Administration, a US Government Agency.

Share Rates

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