F R E Q U E N T L Y A S K E D Q U E S T I O N S
Federally insured to
at least $100,000 by NCUA
Membership
Q. What do I have to do to become a member of the credit union?
To become a member, you must be eligible to join the credit union through any of the following ways:
- Anyone living or working in the following Communities:
- Jasper County, IN
- Lake County, IN
- Newton County, IN
- Porter County, IN
- Greater Calumet City, IL area
- Grundy County, IL
- Joliet, Crest Hill or Plainfield, IL
- Will County, IL
- If you work for one or are retired from one of our Corporate Member Groups, you are eligible to join the credit union.
Example: You work for Methodist Hospital - You can join.
- If you have a family member, either through blood or marriage, who has an account with us, you are eligible to join the credit union.
Example: Your brother-in-law has an account with us - You can join.
- If you have a family member, either through blood or marriage, who works for one of our Corporate Members, but that family member does not have an account with us, you are still eligible to join the credit union.
Example: Your father works for Methodist Hospital, but he does not have an account with us - You are still eligible to join.
Q. Are my family members eligible to join the credit union?
If you are a current credit union member or if you work for one of our Corporate Member Groups, then all of your family members either through blood or marriage are eligible to join the credit union.
Q. I already have a bank - why should I join the credit union?
By joining the credit union you can save money by taking advantage of financial services that are free or at lower rates and fees than at other financial institutions. And since we offer many of the services that banks do (and some they don't), you won't be without the services that make accessing and managing your accounts easy.
Q. Do I have to close my credit union account if I change jobs?
No. The credit union has a policy entitled once a member, always a member. This means once the account has been opened, you do not have to close your account unless you decide to.
Loans
Q. How long do I have to be a member before I can apply for a loan?
There is no length of time you must wait before applying for a loan. However, you must have at least $25.00 on deposit in your savings account before you can apply for a loan or use any other credit union services.
Q. Do I automatically qualify for a loan or Visa card because I am a member of the credit union?
No. Being a member means you are entitled to apply for any loan offered by the credit union. All members must meet the credit union's credit approval requirements to receive a loan.
Q. Do you offer home loans?
Yes. We offer a full range of home equity loans and first mortgages available at fixed or variable rates. Home Equities are available through any Tech CU branch. First mortgages are available through our own mortgage company - CU Mortgage Service.
Telephone Teller
Q. How long does it take before my transactions post to my account when I use Telephone Teller?
Your Telephone Teller transactions are completed in real-time. This means they are posted at the time you make the transaction.
Home Banking
Q. How long does it take before my transactions post to my account when I use home banking?
Your home banking transactions are completed in real-time. This means they are posted at the time you make the transactions.
Savings Accounts
Q. Is there a minimum deposit required to open a savings account?
Twenty-five dollars is minimum amount required to open a savings account. This balance must be maintained to use any credit union services.
Q. How are dividends calculated on my savings account?
Dividends are calculated by the daily balance method. They are compounded monthly and credited monthly after the close of business on the last day of the month.
Checking Accounts
Q. Do I have to keep a minimum balance in my checking account?
No. You are not required to maintain a minimum checking account balance.
Q. Are there any fees associated with a checking account?
No. There are no per check fees, maintenance fees or monthly service charges. Overdraft and stop payment fees apply only if you activate these services.
Q. Do I have to start with a check number of 101 when opening a new checking account?
No. You can choose the number you would like to start your checks at. If you are transferring your checking account to us from another institution, we can start your checks where your other account left off.
Q. What is the minimum amount required to open a checking account?
A $100.00 initial deposit is required to open a checking account, but that balance does not need to be maintained.
Payroll Deduction/Direct Deposit
Q. What is the difference between direct deposit and payroll deduction?
Direct deposit is having your net check deposited directly to your credit union account. Payroll deduction is a specific dollar amount as chosen by you to be deducted from your check each pay period and deposited to your credit union account(s). However, in order to take advantage of payroll deduction, your employer must be one of our Corporate Members who has an established payroll deduction account with us.
Tech Check Card/Cash Card
Q. What is the difference between the Cash Card and the Tech Check Card?
The Cash Card is strictly an ATM card while the Tech Check Card serves two functions. First, it is accepted wherever you see the Visa symbol to make purchases directly from your checking account without writing a check. Second, it doubles as an ATM card. You must have a checking account in order to have a Tech Check Card.
Q. What ATM networks can I use my Tech Check Card or Cash Card on?
You can use your Tech Check Card or Cash Card on any ATM that displays the Plus, Star or Cirrus symbol.
Q. Can I change my PIN number for my Tech Check Card or Cash Card?
Yes. When you first sign up for a Tech Check Card or a Cash Card you are issued a PIN. However, you can change this number by visiting any branch location. There is no fee to change your number.