MEMBER FORUM
To submit a question or comment click here.Please note that management reserves the right to review all submissions prior to posting and not all submissions will be posted.
MEMBER QUESTIONS:
I want to know if the current state of the economy is in anyway having an adverse effect on UKFCU that in turn could affect us, the members?
We are financially sound in spite of the overall market volatility. As a credit union, we are fully backed by the federal government through the National Credit Union Share Insurance Fund, a division of the NCUA (National Credit Union Administration) for at least $250,000. In addition, we have purchased extra share insurance from ESI, insuring your deposits for an extra $250,000 for a total of $500,000. We made the decision to purchase this extra share insurance at no additional cost to our members.
Regarding our investment strategy for the money our members deposit with us, we make every effort to invest it back into our membership in the form of loans. We have not made any loans which may be considered part of the sub-prime market, and our delinquencies and charge-offs are below the industry average, both for banks and credit unions. I can refer you to the NCUA link for outside information on UKFCU and other credit unions: http://www.ncua.gov/DataServices/IndexCUQuery.aspx
From there, you can click on the link for Financial Performance Report.
I searched your website but couldn’t find the answer to this question. What is the cost of being a member?
There is a minimum $25 deposit to your Share Savings, which stays in your account as long as you remain an active member. While most of our members remain as part of the credit union for life, you may withdraw this $25 at any time if you wish to leave the credit union.
How do I deposit a check into an ATM without using an envelope? Do I have to write something special on the check to show it’s mine? Do I still use a deposit slip when I deposit a check without an envelope into the new ATM’s?
Our ATMs contain recognition software that can read the check for accurate dollar amounts and to ensure the check is valid. It also asks you to verify the amount read as correct. No deposit slip is needed when making a check deposit to our ATMs; we know your account number from the debit card which was input prior to depositing the check. There is no need to write anything on the check except your signature endorsement on the back. The printed receipt will show an image of the check and the amount deposited.
I am a member of UKFCU. Is UKFCU a member of FDIC?
Good question! As a credit union, we are fully backed by the federal government through the National Credit Union Share Insurance Fund, a division of the NCUA (National Credit Union Administration) for at least $250,000. In addition, we have purchased extra share insurance from ESI, insuring your deposits for an extra $250,000 for a total of $500,000. We made the decision to purchase this extra share insurance at no additional cost to our members.
What (and where) is the ABA / Routing Number?
The first nine numbers from the left at the bottom of your check are your ABA Routing / Transit number. This number is always nine digits.
Why are our ATMs not taking cash deposits?
This really amounted to a trade off. The new ATMs accept check deposits without an envelope so that the ATM will be able to electronically submit your check to our processor for quicker access to your money. As a result, cash deposits were not available any longer with these new machines. Cash deposits may still be made after hours at the night depository located at each branch.
What is the difference between the Current Balance and the Available Balance?
Your Current balance is the balance in your account as of a certain date and includes all cleared checks or other posted charges. Your available balance is the amount available for use and includes any debit card holds or other deposit or check holds. The available balance for your account may differ from the current balance because of pending transactions that have been presented and held against the account, but have not yet been processed. Once processed, the transactions are reflected in the current balance and show in the account history.
Can you explain the Security feature on the back of the Credit Card the CVV code?
CVV stands for Credit Card Verification Value. The CVV is a 3 or 4 digit code embossed or imprinted on the signature panel on the reverse side of Visa, MasterCard and Discover cards and on the front of American Express cards. This code is used as an extra security measure to ensure that you have access and/or physical possession of the credit card itself.
COMMENTS:
I love the credit union! It is refreshing to have an alternative to big banks and being a number.
Greg B.
To submit a question or comment click here.
Please note that management reserves the right to review all submissions prior to posting and not all submissions will be posted.
