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Account dormancy

Causes, Explanations, and Solutions

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At Circle FCU, we understand that accounts may go unused for many different reasons. You may have moved, simply forgotten you have an account with us, or maybe a family member had opened an account for you and you had no idea. While we hope you continue to use our services, we want you to be aware of how an account can go dormant.

What Causes a Dormant Account?

An account is considered dormant when there has been no activity (deposit or withdrawal) for 12 months. Once an account becomes dormant, a fee of $3.00 is assessed monthly.

What Can You Do to Prevent a Dormant Account?

  1. Keep your account active by making at least one deposit, withdrawal or transfer from your account per year
  2. Set up a Direct Deposit
  3. Use your ATM/Debit or Credit Cards
  4. Conduct regular transactions on your account

If your account is currently in dormancy status, you will need to conduct a transaction on your account to prevent your account from being reported as unclaimed/escheated funds by the State of Michigan.

Escheated Funds

Any account that is considered dormant for three years or more is required to be escheated to the State of Michigan Unclaimed Property Department.

  • The Credit Union will make necessary attempts to contact dormant accounts before the funds are escheated to the State of Michigan
  • This makes it essential to have updated addresses and phone numbers on your account(s)


We value your membership and encourage you to take advantage of the many services Circle Federal Credit Union can provide you. If you have any questions about the dormant or escheatment account process, please do not hesitate to contact us.