Frequently Asked Questions
How is the Credit Union different from Banks?
Credit Unions have members. Each person who deposits money in a credit union becomes a member of the credit union because his/her deposit is considered their share of ownership. This means that credit unions are member-owned.
Credit unions are not-for Profit. This does not mean that they do not or should not make a profit. After expenses are paid and reserves are set aside, surplus earnings are returned to members in the forms of higher dividends, lower loan rates, and free or low-cost services.
Can I withdraw some of my $25 minimum balance?
No, your minimum balance is your share of ownership in the credit union. If you withdraw these funds you are no longer a member. If you find yourself in a cash crunch you can inquire about our Paycheck loans.
Can anybody get a paycheck loan?
If you are a member with payroll direct deposit established for at least two pay periods and you have no delinquencies at the credit union, you are eligible for a paycheck loan.
The maximum amount for a paycheck loan is $700 and they must be paid back within 4 months. They are not revolving lines of credit and must be paid off before you are eligible to get another one.
How do I stop an automatic payment by a creditor from my account?
Contact that creditor and tell them that you want to revoke your authorization at least 3 days before your schedule payment. It is important that you record the date and name of the person you spoke with regarding the revocation.
If you do not have the contact number of the creditor or do not recognize the name, contact the credit union ACH department.
What if the creditor continues to withdraw funds from my account after I have contacted them and told them to stop?
Come to the credit union with proof that you have contacted the creditor and complete a WSUPP (Written Statement Under Penalty of Perjury) form.
Can I skip loan payments this month?
No, we only offer this service during our Skip-a-Payment Program for the Christmas holiday, for a fee of $20 per loan.
Why is my vehicle being repossessed when it's paid current and only my other loans are past due?
Under the plan you signed, all loans are cross collateralized.
It's not my fault that the automatic transfer didn't transfer on my payday, why should I be responsible for the past due amount?
Ultimately, it is your responsibility to make sure each of your loans are paid.