No Fee Zone

No Fee Zone

FAIRWINDS is a financial cooperative where members save, borrow, and purchase services. To provide certain services there are fees associated with the cost of doing business, but we prefer you not pay fees at all. Instead we prefer that you save money by participating with the credit union and managing your finances wisely.

Here are some of the more common fees that we see members pay along with specific ways that these can easily be avoided.

Minimum Savings - $5.00 A Month

Saving money with FAIRWINDS is a great way to participate in the credit union. In fact, we strongly encourage savings over borrowing. With a minimum balance of $50 in savings you will not pay a fee.

Definition:
The minimum savings fee is a $5 fee that is charged each month that your balance is below the $50 savings requirement. The requirement is an average balance of $50 in your regular savings account OR an actual combined balance of all savings, including CDs and your $5 Membership Share. Checking balances are not included.

This fee is avoided by the following:

  • Participate in the credit union by maintaining at least $50 in savings
  • Close the savings account until you can build your savings to at least $50

Helpful Tools and Resources

$5K Savings Account

Articles

Fair Checking - $7.50 A Month

We call it Fair Checking because we think it’s just that! There is an expense to the credit union for the maintenance of a checking account but we have added numerous ways that through your participation you can enjoy the account at no charge.

Definition:
The Fair Checking monthly maintenance fee of $7.50 is charged each month that your account does not meet any of the qualifying activity criteria.

This fee is waived with any one of the following:

  • Monthly direct deposit
  • 15 or more debit purchase transactions
  • $500 average monthly balance
  • You are 25 years and younger, or 60 years and older

Helpful Tools and Resources

Fair Checking

Debit Cards

Direct Deposit

Simply Smarter Checking - $10.00 A Month

Simply Smarter Checking is just that when you also have a loan or savings on deposit with the credit union. It’s also the smarter account if you frequent ATMs because out-of-network ATM fees are waived with this account.

Definition:
The Simply Smarter Checking monthly maintenance fee of $10.00 is charged each month that your account does not meet one of the qualifying activity criteria.

This fee is avoided by the following:

  • $7,500 average monthly combined deposit and loan balance
  • $1,000 average monthly combined in savings and checking

An auto loan or mortgage with FAIRWINDS will likely qualify you to receive this account at no additional charge.

Helpful Tools and Resources

Simply Smarter Checking

Regular Money Market - $12.00 A Month

When you have at least $2,500 in savings the money market is the better account for you over the regular savings account.

Definition:
The Regular Money Market fee is a $12 fee when the minimum average monthly balance in your money market account goes below $2,500. Maintaining this minimum balance is important not only because you’ll avoid the fee but you will also be earning interest on your deposit.

This fee is avoided by the following:

  • Simply maintain an average balance of $2,500 to avoid this service charge.
  • Or, switch to a Regular Savings account with a minimum balance requirement of just $50

Helpful Tools and Resources

Money Market

Regular Savings

Rates

Bad Address - $5.00 A Month

Keeping your contact information current is a safe way to protect your financial information! Otherwise, important financial documents such as your financial statements will be mailed to the wrong location and could get in to the wrong hands.

Definition:
When we receive notice from the U.S. Postal Service that your address is incorrect, your account is flagged as having a bad address. Each month this flag is on your account a $5 fee is charged.

This fee is avoided by the following:

  • Simply contact us or log on to your account to update your address

Helpful Tools and Resources

Contact Us

Statement Copies - $5.00 Each

Definition:
When you are in need of copies of your statements from the previous three months we will provide those to you at no charge. If you need copies of statements prior to this there is a $5 charge per statement to research and print the statement for you.

This fee is avoided by the following:

  • Sign up for FAIRWINDS Online and your e-Statements are at your fingertips in a safe and secure environment
  • Statement history going back to 2005 is available to access and print

Helpful Tools and Resources

e-Statements

ATM Out of Network Transactions - $2.00 Each

Definition:
When you use an ATM that is not in the FAIRWINDS network of ATMs, there is a $2.00 charge per transaction. Transactions include withdrawals, transfers and balance inquiries. The FAIRWINDS network of ATMs includes FAIRWINDS-owned machines and all Publix Presto! ATMs. It is important to note that when you use an out-of-network ATM the owner of that ATM may also charge you a fee.

This fee is avoided by the following:

  • Use a Publix Presto! ATM or a FAIRWINDS Credit Union ATM
  • If you have a Simply Smarter or Interest Checking account this fee is waived
  • Many merchants offer cash back with purchases at no charge

Helpful Tools and Resources

Publix Presto! ATM

Non-sufficient funds (NSF) - $35.00 Each

Definition:
A non-sufficient funds (NSF) fee of $35 is charged when the available balance in your account is not enough to cover a withdrawal. It is very important to know your balance before making a purchase. Specifically, you will want to know your available balance versus your current balance. Your available balance is your balance minus any holds on funds in your account. This is the balance you will want to check before making a purchase.

This fee is avoided by the following:

  • Keeping track of all your transactions and spending only what you have is the best way to avoid this service charge. e-Alerts provide you with real-time balance information at your fingertips.
  • Set up an overdraft account (either a deposit account or a line of credit) for your checking account. Important Note: Transfers to checking from each of your savings accounts are limited to six per month per Federal Regulation D. Learn More
  • Use your Relationship Rewards to waive this service charge twice each year.

Helpful Tools and Resources

Relationship Rewards

e-Alerts

Reconciliation Form

Overdraft Coverage

Overdraft Transfer - $10.00 Per Daily Occurence

Definition:
The overdraft transfer fee of $10 is charged each day your checking account automatically transfers money from one of your other accounts to cover any overdraft items in your checking account.

This fee is avoided by the following:

  • Keeping track of all your transactions and spending only what you have is the best way to avoid this service charge. e-Alerts provide you with real-time balance information at your fingertips.
  • Use FAIRWINDS Online or our mobile banking service to make transfers prior to overdrafting.
  • If you have an Interest Checking account, this fee is waived.
  • Use your Relationship Rewards to waive this service charge twice each year.

Helpful Tools and Resources

Relationship Rewards

e-Alerts

Reconciliation Form

FAIRWINDS Online and Mobile Banking

Hot Topics

What is FAIRWINDS' Routing Number?

263181368

What are the 2013 IRA and HSA contribution limits?

Find out here.

When will I receive my 2012 5498 form?

Find out here.

What is a Routing Number?

FAIRWINDS' routing number (263181368) is used to identify FAIRWINDS Credit Union from other financial institutions and in no way identifies you or your accounts to others.

A routing transit number (RTN) is a nine digit bank code, used in the United States, to facilitate the sorting, bundling, and shipment of paper checks back to the drawer's (check writer's) account.

The RTN is also used by Federal Reserve Banks to process Fedwire funds transfers, and by the Automated Clearing House (ACH) to process direct deposits, bill payments, and other such automated transfers.

What can I do with my Relationship Rewards points?

Relationship Rewards provide you the opportunity to enjoy special member benefits including:

  • Buying down the interest rate on a loan.
  • Increasing your rate on a new CD.
  • Reducing service charges on additional products and services.
Learn more about our Relationship Rewards program.

How do I send or receive a wire?

To send a wire from FAIRWINDS, please provide the following:

  • Name, address and routing number of financial institution receiving the wire
  • Account number for the receiving account
  • Name and address of receiving account holder

There is a $20.00 service charge for an outgoing domestic wire from a personal account and a $25.00 service charge for an outgoing wire from a business account.

To receive a wire at the credit union, you will need to provide the following:

  • FAIRWINDS routing number (263-181-368)
  • Name of account holder
  • FAIRWINDS account number to receive the funds

There is a $10.00 service charge for an incoming domestic wire to a personal account and $15.00 service charge for an incoming wire to a business account.

*Please verify this information with the receiving financial institution as there may be an intermediary financial instititution involved.

When should I expect my 5498-ESA tax forms?

5498-ESA tax forms will be mailed by April 30th for all Coverdell Educational Savings Account owners who made contributions and/or rollovers into their ESA's in 2011.

5498 and 5498-SA tax forms will be mailed in mid-May for all Traditional, SEP, and Roth IRA owners and Health Savings Account owners who made contributions and/or rollovers into their IRA's and HSA's in 2011.

For questions regarding the 5498 forms please call Member Services at 407-277-5045 or visit your local branch.

When should I expect my tax forms?

FAIRWINDS mails 1099-INT and 1098 tax forms at the end of January. However, if you have e-Statements, these tax forms are available online right now!
Learn more here.

Members will only receive a 1099-INT form if the aggregate earnings amongst the accounts they are tax reported for (the primary owner) have earned at least $10 in interest.

These accounts include:
Savings, checking, money market, certificates of deposit, and US Bonds Redeemed, but do not include IRA accounts. If members have not earned at least $10 in interest, they will not receive a 1099-INT form.

Members will only receive a 1098 Mortgage Interest Statement if they paid $600 or more in interest on their mortgage.

FAIRWINDS mails 1099-R, 1099-Q, 1099-SA, and FMV/RMD statements to members by January 31st each year. We also mail 5498, 5498-SA, and 5498 ESA forms to members by the end of May.

Important information for all MasterCard® and VISA® credit and debit card holders.

You may have seen news stories recently about a potential data breach with MasterCard® and VISA® through a third-party payment processor. While there is no indication that any FAIRWINDS members have been impacted by this event, it is an opportunity to remind all consumers about the importance of being diligent, safeguarding your personal information and monitoring your accounts on a regular basis to minimize the effects of fraud.

Take the few extra steps to proactively protect your accounts. If you believe your credit or debit card information is at risk or unauthorized transactions have posted to your account, contact your financial institution immediately. In addition, you may want to consider looking into an identity theft alert program to keep you informed of activity on your accounts. There are many reputable programs available, including ID Secure. Click here to learn more.

There is an active texting scam occurring in the Central Florida area.

People are receiving a text at random stating their "card has been deactivated." This is a Scam!

Always remember, FAIRWINDS will never ask members to provide confidential information, such as debit or credit card numbers, PINs or Social Security numbers via email, text messages, direct mail or over the phone.

If you feel you are the victim of account fraud or identify theft, act immediately. This should help minimize the damage to your personal accounts and credit rating. Click here to learn more.

What are the 2013 IRA and HSA contribution limits?

Traditional and Roth IRA owners under age 50 may contribute up to $5,500 toward tax year 2013. A $1,000 catch up contribution may be added for Traditional and Roth IRA owners age 50 and over.

2013 SEP contribution limits have increased to a maximum of $51,000 or 25% of the employee's compensation, whichever is less.

HSA owners under age 55 with an individual HDHP (self coverage only) may contribute up to $3,250 toward tax year 2013. HSA owners under age 55 with a family HDHP may contribute up to $6,450 toward tax year 2013. A $1,000 catch up contribution may be added for HSA owners age 55 and over.

When will I receive my 2012 5498 form?

5498, 5498-SA, and 5498-ESA forms report IRA, HSA, and ESA contributions, rollovers, conversions, and fair market value (December 31st balance) information to the IRS and account owners. 5498 and 5498-SA forms are expected to be mailed by Saturday, May 18th.

Please contact Member Services at (407) 277-5045 or visit your local branch if you have questions about your form(s).

How can I make a prior year (2012) contribution to my IRA or HSA?

Eligible prior year (2012) IRA and HSA contributions may be made through the close of business on Monday, April 15th. The IRS requires signed documentation before contributions may be designated for a prior year.

Members can accomplish this by visiting a local branch during business hours or by submitting an e-Signed form through Retirement Central® and click Manage An Account on the left menu.