Business Membership | Cedar Point FCU (Lexington Park, MD)

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Business Member Benefits

As a strong supporter of local businesses, Cedar Point offers business planning and employee benefit planning to business members.

Have a question about the benefits of business membership?



Business & Executive Planning

In today’s environment, it’s more difficult than ever to satisfy customers, retain quality personnel, and stay ahead of the competition and earn a profit.

Cedar Point can help you understand the many benefit plan options available so you or your key employees can have the income at retirement you deserve.

We can assist you in planning and implementing a strategy to help ensure that your business, and the people whose incomes and lives depend upon it, can succeed when you are no longer at the helm.

We can provide counseling and planning services to help assure that what you have worked so hard to develop – for your business, your employees, and your family – has the best chance to thrive.


Employee Benefit Planning

Employers and human resource managers often need assistance navigating through the complex benefits and payroll process.

We provide technology solutions with a personal touch. Our offerings have grown beyond traditional group health and ancillary coverage and include pension, 401(k), payroll, and workers’ compensation.

We’re committed to saving you and your staff time and money, providing access to appropriately designed benefits, and delivering quality service.


Aflac Benefit Packages

American Family Life Assurance Company of Columbus (Aflac) is a leader in voluntary insurance products that pay cash directly to policyholders.

Why add Aflac to your existing benefits package? Aflac:

  • Is free for your company.
  • Immediately cuts your company’s payroll taxes - 8¢ on every $1.00.
  • Improves employee retention by providing a complete set of benefits.
  • Provides your employees the protection from financial disaster they require when they and family members experience medical events employer-funded benefits do not meet employees’ financial needs especially when people are living paycheck to paycheck (see Harvard University Personal Bankruptcy 2005 Study).
  • Requires no out of pocket expense to set-up. Aflac invoices in arrears after you have deducted the funds from the employee’s paycheck.
  • Offers affordable coverage for your employees (weekly pre-taxed payroll deductions are less than $6.00 a week).
  • Allows you to put in place an IRS Section 125 Cafeteria Plan at no cost that can be used to pre-tax other medical insurance benefits as well as Aflac supplemental benefits.

What do you say to an employee when they say, “My spouse was just diagnosed with a serious health condition, and I need to take a leave of absence to care for them. What do we have in our benefits package that will help me through this?”

The answer is simple: Aflac

Cedar Point Federal Credit Union offers Aflac to its employees and credit union members.

Karen Devine is Cedar Point Federal Credit Union’s local Aflac representative. Call 301-904-9161 for an appointment, and be sure to mention Cedar Point Federal Credit Union!


The Benefits of Credit Union Membership to Your Employees

Cedar Point Federal Credit Union has several savings options to help your employees plan for the future.

Basic Savings Accounts

A $5.00 minimum deposit is required to open a basic share (savings) account. A competitive dividend rate is earned with an average daily balance of at least $100.00. Members may open additional savings accounts (sub-share accounts) at any time to help organize their savings and budgeting.

Money Market Share Accounts

Our Money Market Savings has a minimum balance of $2,500.00. Dividends earned are higher than that of the basic savings account, and with our tiered Money Market, the more the member deposits, the higher their dividend rate. Withdrawals are limited to six per quarter - with a minimum withdrawal amount of $250.00.

Checking Accounts

There are no minimum balance requirements or fees if your balance falls below a certain level. In addition, our fees for services such as stop payments and check copies are typically lower compared to most financial institutions. Regardless of the number of checks you write each month, you are not charged a fee for basic checking (there are service fees for stop payments, check copies, returned checks, overdrafts and certified share drafts). With an average daily balance of $500.00 or more, our share draft accounts earn dividends.

Certificate Accounts

Certificate Accounts pay a higher dividend rate than the basic share savings account. The minimum deposit for a regular certificate account is $1,000.00. Funds cannot be deposited into existing accounts until maturity. IRA Certificates require a $500.00 minimum deposit. You may make deposits throughout the year according to IRA disclosure limitations.



Check Protection

Overdraft protection comes in three forms:

  1. Our basic savings accounts may act as overdraft protection for our share draft (checking) account. 
  2. Overdraft Lines of Credit are available to those who qualify. Lines of Credit are available from $300.00 to $2,000.00. There is no annual fee and interest is charged only when Line of Credit advances are made.
  3. Cedar Point offers Overdraft Privilege for eligible accounts. Overdraft Privilege allows you to overdraw your account, up to the disclosed limit for a fee, in order to pay a transaction.

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