Low Balance and Dormant Account Policy

Share accounts with a balance less than the minimum balance required to own a share ($5.00) for (3) three months will be closed and the funds transferred to the general ledger. Funds may be withdrawn and transferred from any other jointly owned account or sub account (including share certificate accounts) to maintain the required minimum balance. If such a transfer is made, written notice will be provided to the member. Sub-share accounts such as share draft/checking, clubs, money market, insurance, and escrow, with no activity for six (6) months will be closed and the balance transferred to the regular share account.

Share accounts to include Youth and Life Savings accounts that have not had member-initiated activity for (12) twelve months will be classified as a dormant account.  SEVA Saves accounts have an eighteen (18) month stipulation. These accounts will be assessed an inactive account fee of $15.00 each month until the account balance is less than the minimum five ($5.00) required to retain credit union membership. At the time the account is less than $5.00, it will be closed and the funds transferred to the appropriate general ledger account.

If an account balance is greater than the minimum to retain membership after (5) five years of being dormant, the balance in the account will be forwarded to the state under the Virginia Unclaimed Property Act (Escheat Law).

The Supervisory Committee will attempt to inform members of the need to take the necessary actions to bring their account to an active status.

If a member brings the account to an active status, inactive fees already assessed will not be refunded and dividends will not be paid on those funds. If the funds are forwarded to the state, it is the responsibility of the member to take appropriate action to recover the funds.

Better Than A Bank


(757) 523-5300
(800) 443-1141
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Your savings are federally insured up to $250,000 by The National Credit Union Administration (NCUA), a U.S. Government agency. Non-dividend bearing transaction accounts have unlimited coverage, e.g. checking accounts that do not earn interest. ABNB FCU is an equal housing lender and does business in accordance with the Equal Credit Opportunity Act. Some links on our website are external and are not operated by the credit union. Please be aware that ABNB is not responsible for the content of the alternate websites and privacy and security may differ from those on ABNB’s website.

ABNB Federal Credit Union’s Routing Number is 251481627. Please contact us with any questions. © Copyright 2010 - ABNB Federal Credit Union. 830 Greenbrier Circle, Chesapeake, VA 23320. All Rights Reserved.

Disclosures | ABNB Staff | BOD