Quarterly Newsletter • October 2024
Alabama ONE continues to expand statewide!
New branches are scheduled to open in the Pike Road area of Montgomery, as well as 2 other locations in Samson and Dothan by November, 2024. In 2025, Alabama ONE has additional plans to open branches in Valley, Southside, Wedowee, Ozark, and Andalusia.
For a list of all locations, click here.
Is it Smart to Pay Your Bills with Your Credit Card?
Paying utility bills with a credit card presents several benefits that can make financial management more convenient and rewarding for consumers. One primary benefit is the accumulation of rewards points or cash back incentives offered by many credit card issuers. By using a credit card for routine expenses like utility bills, cardholders can maximize these rewards, which can then be redeemed for various perks such as travel, merchandise, or statement credits.
Another advantage is the financial flexibility that credit cards provide. Unlike direct bank account withdrawals, credit card payments allow users to manage their cash flow more effectively. This can be particularly useful in managing fluctuations in monthly income and expenses. Additionally, setting up automatic payments with a credit card can help avoid late payment fees and maintain a positive credit history by ensuring on-time bill payments.
Moreover, credit cards offer an additional layer of security compared to other forms of payment. In the event of disputed charges or billing errors, credit card users have access to robust dispute resolution processes provided by card issuers. This protection can be
particularly valuable if any issues arise with utility companies.
However, it is important to note that not all utility companies accept credit card payments, and some might charge processing fees for doing so. As such, consumers should weigh these potential costs against the benefits to determine if this payment method aligns with their financial goals and habits. Ensuring timely payment of credit card balances is also crucial to avoid accruing interest charges that could negate the advantages of this approach. Alabama ONE credit cards offer double the reward points when you pay your power bill with your credit card. Learn more here: www. alabamaone.org/creditcards
Pass the Hat – Prayers for Lottie
Each year at their summer conference, the Southern Area Instructors Association (SAIA) members contribute money to a charity or family of the host states choosing. This year, Alabama ONE matched up to $3,000 for all donations made by SAIA members in support of Pea River Electric Cooperative lineman, Hank Walker, and his family. Since 2022, his daughter Lottie has been battling Stage 4 neuroblastoma.
Together with the SAIA members from across the country, the Pass the Hat initiative provided a way for anyone to make an impact, offering financial relief for this family during Lottie’s journey of surgeries, chemotherapy and everything in between. A check for over $6,000 was presented to the Walker family on behalf of the SAIA membership and Alabama ONE in August. As of September, it is reported that Lottie is doing great and was able to attend school for the first time!
e-ONE Mobile App Digital Banking
Wherever You Are
Alabama ONE members can access their accounts quickly and safely using their smartphone. In addition, your mobile device’s fingerprint verification or facial recognition feature will match to your user ID, increasing security and authenticity for financial transactions.
Effective Nov 1, 2024 — Fee Schedule — Note the fee changes in dark blue Fees and Charges: Below is the Fee Schedule which sets forth certain conditions, rates, fees and charges applicable to your account. This schedule is incorporated into your Membership and Account Agreement with the Credit Union.
$20.00 per hour
$5.00 per check
$10.00 per check
$15.00 per month if greater than 25 transactions
$0.00
$0.00
$3.00 per image
$35.00 per item – created by check, in-person withdrawal, ATM withdrawal, or other electronic means.
$3.00 per sheet – free at account opening
$5.00 – if Membership Saving is closed prior to 6 months
$5.00 per withdrawal made outside of the maturity transfer
*Applies to Christmas and Savers Club Accounts
$35.00 3% of Advance
$10.00 per item
$15.00 per item
$4.95 per card
$5.99 per load
Banking Bill Pay Fee
Account Fee
Address / Return Mail Fee Jumpstart Checking Account Fee
Mastercard Cross-Border or Single Currency ISA Fee
Mastercard Replacement Card Fee
Minimum Balance Fee – Ascend Checking Money Order Fee
Mortgage Subordination Fee Non-Sufficient Funds Fee
Notary Fee – Non-Member
Overdraft Transfer Fee
Safe Deposit Box Rental – Size 3x5
Safe Deposit Box Rental – Size 5x5
Safe Deposit Box Rental – Size 3x10
Safe Deposit Box Rental – Size 5x10
Safe Deposit Box Rental – Size 3x13
Safe Deposit Box Rental – Size 10x10
Safe Deposit Box – Late Payment Fee Statement Copy Fee Stop Payment Fee (ACH/Checks)
Wire Transfer Fees
• Incoming Wire Transfer
• Outgoing Wire Transfer
• International Wire Transfer
$0.50 per bill pay – 15 free per billing cycle
$10.00 per month (if account is not active for 365 days)
$10.00 per month
$10.00 per month 1% of Transaction
$5.00 per card – 1 card free per calendar year
$10.00 per month (Minimum Balance: $5,000)
$2.00 per item
$250.00
$35.00 per item – an item may be presented multiple times, and a fee shall be charged each time the same item is re-presented.
$10.00
$5.00 per transfer
$15.00 per year
$20.00 per year
$25.00 per year
$38.00 per year
$45.00 per year
$75.00 per year
$5.00 per month
$1.00 per page – no charge if over age 65
$35.00 per item
$10.00 per transfer
$15.00 per transfer
$50.00 per transfer
Don’t forget all branches are closed from 8:30AM-9:00AM (Effective as of 10-2) on Wednesdays for TEAM Training.