MEMBER PROFILE

Ted Bronsnick

Ted Bronsnick, who takes pride in being one of Alternatives first members, came in for an auto loan. “I did check with other lenders,” he told Consumer Loan officer Amy Smith, “but I decided to get my loan at Alternatives. A few other places had rates that were a bit lower, but Alternatives, in an effort to be competitive, was willing to lowers their rate by .75%. I felt my relationship with the Credit Union was reason enough to support what they do by getting my loan with them.”

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Fresh Start Accounts

The Fresh Start Account is available for members who do not qualify for our regular account due to prior difficulties maintaining a positive account balance. We understand that there may be unforeseen circumstances causing financial hardship. In keeping with Alternatives mission to provide access to transactional services and serve the underserved, we think everyone deserves a second chance. This account offers a Fresh Start.

With a Fresh Start Account, rules governing your account are as follows:

Deposits will be subject to "exception" holds under our check hold policy (see below).

If the “Fresh Start" account overdraws during the six month period, it may be closed immediately or the exception hold period may be extended.

The Alternatives VISA Debit Card is not available for a savings account, or for the first 3 months of a Fresh Start checking account. After three months of maintaining a problem-free checking account, you may apply for the Debit Card.

Check Hold Policy

For the first 30 days of a new member's account, checks for $101 to $5,000 will be held for 2 business days if local and 5 business days if non-local.

• Cash
• Checks drawn on Alternatives Credit Union
• Government or U.S. Treasury Checks under $5,000
• Direct Deposits
• Approved payroll checks (Borg Warner, Cayuga Medical Center, City of Ithaca, Cornell, Ithaca College, Emerson, Fraziska Racker Center, Ithaca City School District, TC3, TST BOCES, Tompkins County, Wegmans)

For all other deposits, the full amount of the deposit will be subject to a 5 business day hold for local items, and an 7 business day hold for non-local items.

Please note: This means to cash a personal check, you must deposit the check and wait for it to clear. You have the option of taking that check to the bank on which it is written to get immediate cash.

Business days are Monday through Friday and do not include Saturday, Sunday, and legal holidays. Deposits after 2 PM Friday and on Saturday are considered made Monday (unless Monday is a legal holiday).

Only one Fresh Start Account per person. If the Fresh Start Account is closed due to overdrafts, you may not have another account with Alternatives Federal Credit Union.