A credit union for

MDU Resources Group, Inc.

employees and their families

How Do I Become a Member?

It’s easy to join Genie-Watt Credit Union! Any eligible person may become a member by completing an application form and making a minimum savings deposit of $5.00 in a share savings account.

SHARED OWNERSHIP – As a member of Genie-Watt Credit Union, you own “shares” in the credit union’s business. You take part in electing a Board of Directors, Credit Committee, and Supervisory Committee. And, you share in the success of the operation.

Because credit unions are NON-PROFIT organizations, all earnings are returned to members in the form of dividends, added services, and other benefits. 

STRONG COMMON BOND – Your Genie-Watt Credit Union is a financial cooperative that was chartered by the state Department of Banking and Financial Institutions in 1959. The field of membership includes all families of MDU Resources Group, Inc., its subsidiaries, families of employees, and Genie-Watt Credit Union employees. They are the people you work with, live with – friends who share your interest in making Genie-Watt Credit Union their strong, primary financial center.

Share Draft Checking Account

Genie-Watt Credit Union offers share draft checking with these benefits:

–      No minimum balance

–      No service charge

–      First 150 standard share drafts FREE

–      Overdraft protection

–       PLUS receive interest (calculated daily, paid monthly)

Share draft checking is available only from credit unions and are similar to bank checks as they are accepted from coast to coast. You’ll like the automatic carbonless copies that help you with your record keeping. Statements will document all your share draft activity with a list of drafts cleared, the draft number, the amount and dates. If you should ever need a copy of your share draft, it can be obtained by contacting the credit union.

Genie-Watt Credit Union also offers automatic and telephone transfers between accounts. There is a limit of transfers per month.

Share Savings Account

SHARE ACCOUNT – This is your basic savings account – the one that maintains your membership at Genie-Watt Credit Union. Share savings accounts earn daily dividends compounded monthly.

With your savings account you also receive the extra benefit of Life Savings Insurance. This means that for every dollar you save in shares, up to $2,000, the credit union provides an additional amount of life insurance, depending on your age and other eligibility requirements. Life Savings Insurance is provided at no additional cost to you.

SHARE PLUS ACCOUNTS – These accounts earn daily interest compounded monthly. Share plus accounts usually are paid at a higher rate of interest than share savings accounts.

MONEY MARKET ACCOUNTS – These accounts earn daily interest compounded monthly. The minimum deposit for money market accounts is $2,000.

IRA ACCOUNTS – Achieve greater financial security with your individual Retirement Account from Genie-Watt Credit Union. Even if you’re enrolled in a pension plan at work, come in and talk to us about the advantage of IRAs. There is NO service charge for our credit union IRAs.

SHARE CERTIFICATES – If you want a high-yield, long-term investment, check out the share certificates available from Genie-Watt Credit Union. Feel free to ask us about current rates, terms and yields.

Low-Interest Loans

Credit unions have a reputation for providing members with reasonably priced credit. Genie-Watt Credit Union is no exception. When you shop for a loan, compare the total cost, including finance charges. We think you’ll do better at your credit union. So if you’re in need of a car, or would like to take a special vacation, look to the credit union for the best deal on variable and fixed rate loans.

Another feature of credit union loans is Credit Life Insurance and Credit Disability Insurance. These coverages are available to qualifying borrowers at normal rates.

Other Member Benefits

DIRECT DEPOSIT – Recurring checks such as MDU payroll, Social Security, retirement or pension checks can be deposited automatically in you account at the credit union.

PAYROLL DEDUCTION – Saving can be done effortlessly with a regular deduction from your paycheck. You can use payroll deduction to add to your share savings account, make loan payments, or both.

INSTANT CASH & CHECK CARD – Use this card to do everything from obtaining cash at ATMs for purchasing meals, clothing, and other merchandise. It’s cash, not credit. Funds are drawn from your checking account.

NOTARY PUBLIC SERVICE– You’ll receive the service FREE of charge

TRAVELERS CHECKS – When going on a trip, remember your credit union. Here you receive traveler checks with NO service charge.

MONEY ORDERS & CASHIER CHECKS – These can be obtained from the credit union for a minimal charge.

WIRE TRANSFERS – Wire funds to any destination in the United States or worldwide for a nominal fee.

VALUE GUIDES– Current market prices are available on new and used vehicles including motorcycles, boats and recreational vehicles. These value guides are available for your inspection at the credit union office.

“Once A Member Always A Member”