Conference 7.286::dcu

887.0. "PRESS RELEASE: DCU DISCONTINUES MONTHLY CHECKING FEE" by IAMOK::DAWKINS (Tanya Dawkins) Mon Oct 10 1994 12:15

        FOR IMMEDIATE RELEASE
        For Additional Information
        Contact:  Tim Garner, 800/328-8797 x 204
        
        
                    DCU Discontinues Monthly Checking Fee
        
        
        MAYNARD, MA - At its September 27 meeting, the Digital 
        Employees' Federal Credit Union (DCU) Board of Directors voted 
        to rescind the four dollar monthly checking fee policy 
        implemented on January 1, 1994.
        
        The change is effective starting September 1, 1994.  Any 
        members who would have paid a fee in September will not be 
        charged.
        
        The fee was a key concern to many members who voted in the 
        recent DCU Directors' election.  Board members Philip J. 
        Gransewicz, Christopher C. Fillmore-Gillett, and David J. 
        Garrod promised the members to eliminate this fee if elected.
        
        The fee's purpose was to reward members who used DCU to save 
        and borrow and to ask those who didn't to help pay the cost of 
        their service.  Approximately 85% of DCU's members with 
        checking accounts had the fee waived because of their 
        balances, use of direct deposit, or their ages.
        
        Since DCU is in excellent health, eliminating the fee will not 
        have a significant financial impact on the credit union
        
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    Does anyone know who the BoD members voted on this issue this time
    around, or do I need to wait for the minutes.  I would expect the vote
    would have been 4-3...
    
    Mark
    

    That would probably sho up when we get to see the m inutes after the
    next meeting.