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Knowledge Base Article

Inactive accounts and the accounts that are affected

What is an inactive account?

An account becomes inactive when the aggregate balance in its deposit accounts (Savings, Checking, Additional Savings, and Money Market) is less than $60 and there is no activity for 6 consecutive months.

  • Accounts owned by members 17 years old and younger, are not subject to becoming inactive. Once they turn 18, they will be subject to the current inactive criteria and fee.
  • Inactive accounts are charged a $5 monthly service charge until the account reaches a zero balance and is closed or until the account has activity
  • If the member has an active loan, the account will not reach an inactive status, regardless of the amount on deposit.
  • IRAs are not subject to the inactive account status
  • An account becomes subject to Georgia's Escheatment process (unclaimed property laws) after 5 consecutive years of inactivity regardless of the dollar amount in the account. Notification will be sent to members whose accounts are eligible for escheatment.

We encourage members to deposit regularly into their accounts, thus eliminating the $5.00 monthly Inactive Account Fee. A notice advising that the account is approaching an inactive status prior to having any fees deducted will be sent. The inactive account fee is deducted the first business day of the month after the letter is mailed.

How can I avoid my account changing to an inactive status?

  • Maintaining a balance of at least $60 regardless of the number of transactions
  • Conducting at least one transaction every 6 months (this can be a transfer from one share to another, withdrawal, and or deposit)
  • Having an active loan(s) such as a Visa credit card

How do I reopen an account that closed due to inactivity?

If the account has been closed less than 30 days, the primary member may reopen the account over the phone after verification is completed.

To reactivate an account after 30 days of closure, the primary member will need to complete a signature card and requalify for membership.