dormant membership policy

How to Stay an Active Member

Novation Financial’s Dormant Membership Policy deems a membership dormant when there has not been any member activity for 24 months. If an account is flagged as dormant, a monthly $5 Dormant Membership Fee will be applied. To avoid this fee, you must be an active Novation Financial member. Active members include those that conduct business regularly by:

Logging in to eBranch Online Banking or Mobile Banking at least once a month

Depositing funds into a Novation Financial account

Transferring funds between your Novation Financial accounts (e.g., Savings and Checking)

Using your Novation Financial Visa® debit or credit card

Or have the following solutions:

Certificate or High Yield Savings account

Any Novation Financial loan, including Mortgages and Student Loans, in good standing

Novation Wealth Management client (formerly Novation Investment Services)

Members under the age of 18 are excluded from the Dormancy Fee.