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Women and Investing Seminar
Dormancy Policy Changes
Effective July 1, 2017, a $10 per month fee will be assessed on dormant accounts.
Abbott Laboratories Employees Credit Union (ALEC) will consider all memberships dormant if in the past 12 months:
- a transaction has not been made to a share, checking or money market, OR
- a dividend was not posted to a share certificate, OR
- an active loan or credit card does not exist, OR
- an active relationship does not exist with ALEC Investment Advisors
If any of the above do not occur or exist after 12 months, a dormancy fee will be assessed. The dormancy fee will be assessed each month the account remains dormant beginning with the first month following dormancy status. The fee is subject to change and is outlined in ALEC’s Fee Schedule.
Exclusions to the dormancy fee are as follows:
• Aggregate share balance equal to or greater than $500
• Minor accounts