Dues Credit Trust Increases Members’ Earning Potential

The NDEA Dues Credit Trust program, established in 1980, is designed to assist NDEA members by investing a portion of their paycheck during the school term.   This increases all members’ earning potential by pooling their investment with those of their colleagues.

Count on NDEA Dues Credit Trust to…

• Let you determine your summer paycheck.
• Help reduce your Association dues with your interest earned.
• Earn higher interest rates by pooling your money with other NDEA members.

How Does the Dues Credit Trust Program Work?

NDEA members transfer a predetermined amount through their checking accounts starting on Oct. 1.  The transfers continue through May, June, July or August 1.

The money is then returned to the member’s bank account through summer electronic “checks” issues on the 20^th of May, June, July and August.  Interest earned is added to the August check.

The number of deposits determines the number of summer checks.  Most members participate in the nine-deposit three-check program.

How much does the average member invest?

The average member invests $450 per month in the nine-month program, which works out to be $1,350 per summer check.

What is the minimum investment?

While the average investment is about $450, the program is designed to meet the needs of all NDEA members.   The minimum investment should be large enough to cover the dues and fees of the member.

How is the money invested?

The money is invested in US Government Securities, Bank of North Dakota CD’s and money market accounts, FDIC-insured DC’s or money –market funds which invest only in US Government Securities.

How are my dues paid?

The first year of participation, payroll deduction or cash pays dues.   Upon completion of the first year, the next year’s NDEA/NEA dues are deducted from the August check, along with a $10 service fee.

What is a special investor?

The special investor option allows a member to invest on the first of any month from October to August.  The first deposit must be $200.  (If a member participates in both the special and regular programs, this minimum is waived.)  The amount of any subsequent special investment is the members’ decision.  All money and interest earned in the special program is paid on Aug. 20.

Can the money be removed at any time?

Yes, but the interest will be based on the current passbook savings rate at the Bank of North Dakota.

For more information or enrollment forms for the Dues Credit Trust Program, call 1-800-369-NDEA, 701-223-0450 or email: comments!@ndea.org.