ACCOUNT INACTIVITY

Do automatic transactions -- like a payment to an insurance company or utility -- count as "activity"?
No. It must be a member-initiated contact, which includes: One-time deposits/withdrawals into your account(s); automatic payroll deposits, a letter sent to ...
Thu, 6 Feb, 2020 at 2:58 AM
How can I keep my account(s) active?
You can do this two ways: Make a deposit or withdrawal once a year; if you have an active loan or credit card with Tower, use these accounts at least once e...
Thu, 6 Feb, 2020 at 2:58 AM
How will I know if my account is inactive?
Tower will notify you each August if your account is inactive with instructions on how to avoid the closing of your account.
Thu, 6 Feb, 2020 at 2:59 AM
Is there a fee for inactive accounts?
Yes. If a member is over 22 years of age with less than $100 deposit balance and no account activity in a 12-month period, the account will be charged $3 on...
Thu, 6 Feb, 2020 at 3:00 AM
What happens to my money if I don't reactivate my inactive account?
An inactive account is considered by Maryland State law to be abandoned property and requires the funds in the account be turned over (or escheated) to the ...
Thu, 6 Feb, 2020 at 3:00 AM
What is a dormant or inactive account?
An inactive account is on that has had no member-initiated contact in 3 years.
Thu, 6 Feb, 2020 at 3:01 AM
What is the fee for Escheatment?
A fee of $20 will be applied to account(s) closed due to a 3-year period of inactivity.
Thu, 6 Feb, 2020 at 3:02 AM