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General

How do you join UCFCU?

Joining the Credit Union is easy. Simply complete a membership card and deposit $5.00. You remain a share holder in the credit union by maintaining an active account relationship and maintaining a $5.00 minimum balance. As long as your credit union membership is in good standing, you are a member for life.

Credit Unions are different than other financial institutions. They are cooperatives, owned and managed by their members.

The board of directors is comprised of members who are elected by the members. Each member has one vote, regardless of how much he or she has in savings. The credit union approach helps members realize the maximum return on their money (after meeting all reserve requirements and operating expenses, earnings are returned to members in the form of dividends on savings, better loan rates and a larger selection and better quality of services.) The credit union thrives on input from volunteers. We take full advantage of the wide variety of expertise that is found in our membership by asking our members to serve on various credit union committees. The credit union philosophy is and will continue to be: People Helping People.

U.S. Patriot Act

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

Tax Forms

Tax forms are to be processed for delivery by January 31 each calendar year.

1099-INT Interest Statement Form: This form is generated when interest or dividends paid to an account have exceeded $10.00. This total is per account and is the combination of interest across suffixes that earn interest or dividends within that account. If you received less than $10.00 in interest or dividends you may find the year-to-date interest earned on your December Statement as “DIVIDENDS YTD” for the interest-earning suffix. For more information, visit the IRS page for 1099-INT.

1098 Mortgage Interest Statement Form: This form is generated when a mortgage note has exceeded $600.00 interest paid. This is per suffix and not the combination of interest across notes. If you paid less than $600.00 in mortgage interest you may find the year-to-date paid interest on your December Statement as “YTD FINANCE CHARGE” for the mortgage suffix. For more information, visit the IRS page for 1098.

5498 IRA Contribution Form: This form is generated when you have made IRA contributions for the tax year. This form is only delivered by postal delivery. For more information, visit the IRS page for 5498.

1098 and 1099-INT forms are delivered by the same means as your account receives statements. If your account is setup for eStatements, then your tax forms will appear on your eStatement portal. These forms may be viewed by logging into your online account, clicking “E-Statements” from the left menu, and then selecting “Tax Forms” from the top right drop-down selection box. Tax information is also available in your online access account via the left-hand menu titled “Tax Info” — this may be helpful if you did not meet the reporting requirements listed above for the 1098 and 1099-INT. If you receive your statements via postal delivery then you will receive your tax forms via postal delivery as well.

If you have not met the above dollar amounts for the 1098 and 1099-INT forms, you will not receive a form of that type. No forms are generated for accounts that do not hit the requirements.

Who is eligible to be a member?

University & Community Federal Credit Union membership is open to anyone who lives, works, worships, volunteers or attends school in Stillwater, Oklahoma. Any relative of a member is also eligible for membership.

How do I change my address?

For your safety, University & Community Federal Credit Union requires a signature to change information on your account. To change your address with us, please fax, email a scanned letter, or mail a letter with your name, account number and new address. If your phone number has changed, please include that as well. Please make sure your signature is included with the letter. Visit our contact page for our contact information.

Do you have tips for check fraud?

Check Fraud

Check fraud has been going around a lot lately, here are a few tips to help protect you against check fraud.

  • DID YOUR CHECK COME FROM CRAIG’S LIST?
  • DO YOU KNOW THE PERSON WHO SENT THE CHECK?
  • DO THEY WANT YOU TO SEND MONEY BACK TO THEM? (i.e. Wire, MoneyGram, etc.)
  • WERE YOU EXPECTING THIS CHECK?

If you are concerned about the legitimacy of a check, please contact a member service representative for help.

Information Regarding the Target Breach

Protecting your account information is very important to UCFCU. Target has identified the date range of potentially compromised cards as those that were used between November 27, 2013 – December 15, 2013 at their U.S. stores. While UCFCU does have fraud monitoring in place to help catch fraudulent charges, examining your account transactions is the best defense against stopping fraud. If at any time you see a suspicious or unknown transaction contact us immediately so that we can cancel the card and mitigate the number and amount of fraudulent charges. If you would like to cancel your current card, just visit any of our branches and our tellers will be happy to help cancel the old card and reorder a new one for you. If you have any questions, please feel free to contact us.


Lending

Do you offer any type of loans to help establish credit?

We have several options available to our members. First, is our secured credit card—where you pledge a certain dollar amount from your savings account that is secured (or held as collateral) and you are issued a credit card with that same limit. Because you are still making payments just like a credit card—your credit is established.  We also offer “share secured loans” which just means that you pledge a certain dollar amount of your savings or Certificate of Deposit and get a loan for that amount. The funds can be used for anything that you’d like, and you make payments just like you would on a regular loan. What’s more—the rate that you get with a share secured loan is one of the lowest rates that we offer here at UCFCU.

I was denied for a loan from another institution, should I even bother applying?

Yes, all lenders have their own underwriting policies and guidelines. Here at UCFCU, we are very lucky to be a member-owned credit union that is proud to help a lot of members who might not qualify at other lending institutions.

How is my loan term calculated?

Just like your APR, your term is determined by your credit score, age of collateral, and also your preference.

How is my APR calculated?

We look at both credit score and age of collateral when determining your APR.

Do I still pay the same amount of interest if I pay off my loan early?

No, if you pay off your loan early, you will only pay the interest accrued up to that point.


ATM/Debit Card

How do I activate my ATM/Debit card?

Please call 800.448.8268 to activate your ATM/Debit card.

How do I change my PIN number on my ATM/Debit card?

Please call 800.448.8268 to change the PIN to your ATM/Debit card.

Why is there a hold on my ATM/Debit card?

Some merchants will place a pre-authorization hold on your debit card to make sure you have enough funds to cover their transaction. Pre-authorization holds are NOT put in place by University & Community FCU. This is most commonly seen at gas pumps, hotels, and restaurants. The holds are set by the merchants or major card networks and are placed because the card is swiped before the amount of the transaction is known. They may remain on your account until the transaction has fully completed or after the hold time expires (varies up to 5 days).

To avoid these holds, use your debit card inside the gas station and pre-pay for a set amount of gas or apply for a credit card at University & Community. Some gas stations will place a pre-authorization hold on a debit transaction no matter what you do to avoid the hold. These holds could cause you to lose temporary access to needed funds and may cause you to overdraft your account incurring fees. Please be conscious of all debit holds and your available funds.

What do I need to do if I have a lost or stolen ATM/Debit card?

Call 800.791.2525 to report lost or stolen ATM cards or ATM/Debit Cards during our non-business hours. This is not a number for MasterCard credit cards.


MasterCard Credit Card

What do I need to do if I have a lost or stolen MasterCard credit card?

Call 888.310.4861 to report lost or stolen MasterCard credit card during our non-business hours. This is not a number for UCFCU ATM/Debit cards.


Online

How do I transfer money to another person’s account at UCFCU?

1. Log into www.cuintouch.com.

  • Both accounts must be enabled to do cross account transfers. Please contact us if you want to enable this feature for your account.

2. Setting up your Cross Account Transfer Password

  • Click “Member Options” on left side of screen

  • Click on “Cross Account Password”

  • Create and enter password twice and then submit (Create a password that is different from your login password so no one else can access your account).

3. Transfer to Someone Else’s Account

  • Click on “X Transfers” on the left side of home screen after logging in.

  • Enter in person’s account number and their Cross Account Password.

  • Choose what suffix (Savings, Checking, etc.) you want to transfer from.

  • Choose what suffix in other person’s account you want to transfer to.

  • Enter transfer amount and click “Transfer”.

4. Allow Someone to Transfer to Your Account

  • Give them your account number and the Cross Account Password you created and they will follow the same steps as above.

How do I reorder checks online?

As of January 2014, we have switched our check provider to Legacy. You must call 405.743.3328 and re-order your checks over the phone for the first order. After the first order, you will be able to order checks online at Legacy.

I forgot my password to my online access, how do I get that reset?

You can reset your password by visiting with one of our Member Services Representatives at any of our branches. You can also call us at 405.743.3328 between 8:30am and 6:00pm Monday through Friday. For security reasons, we can not reset a password through email.


Regulations

Regulation D

Regulation D (Reg) is a Federal regulation which applies to all financial institutions. It was created by the Federal Reserve Board to control the supply of money available in the U.S. and to ensure financial institutions have adequate reserves. This Reg classifies share accounts as either “transaction” or “non-transaction” accounts. Transaction accounts are draft accounts and allow unlimited electronic transactions to originate from those suffixes. Savings accounts and money market accounts are non-transaction accounts and are limited to 6 transactions (not made in person) a month per suffix before triggering Reg D.

Any transaction made on a non-transaction account without the member being physically at the credit union location is a Reg D transaction. Such transactions include telephone transactions, mail transactions, email transactions, ACH or EFT transactions, online banking transfers, overdraft transfers.

Transactions not limited by Reg D would include ATM transactions, transfers to loan suffixes at UCFCU, transactions done in person at a branch including shared branching at any CUSC location nationwide, nightly drop transactions left at the credit union’s night drop vault.

When you reach your threshold of 6 Reg D transactions on a non-transaction account you have hit the federal regulation limit and further transactions will be rejected. Please make sure you are using the correct type of account to handle transactions. You may contact a member service representative to get information on moving automatic transactions from your savings suffix to your draft suffix at any time.