FAQ

  • Certificate of Deposit
    • Q: Is there a penalty if I withdraw the funds before maturity of the Certificate?A:

      Yes. For all accounts, the amount of the early withdrawal penalty for your account is 90 days dividends. It applies whether or not the dividends have been earned.

    • Q: Is it possible to have my dividends from my CD sent to me monthly for added income?A:

      Yes. We can mail you a check or transfer it to your share or share draft account at the Credit Union monthly or quarterly.

    • Q: Do I have to have a second person named on a certificate?A:

      It is not necessary; but, if a second name is listed, we need their Name, Address, Social Security Number, Birth-date and Phone Number.

  • Checking
    • Q: How much money do I need to keep in my checking account?A:

      There is no minimum balance required for a checking account.

    • Q: Where can I find a surcharge free ATM?A:

      Find an ATM

    • Q: How do I apply for a debit card?A:

      Apply

  • IRA
    • Q: Is it possible to do payroll deduction to an IRA?A:

      We offer variable IRA Savings for that purpose. The money can be transferred from your share account to the IRA on a weekly, bi-weekly, semi-monthly or monthly basis for current year contributions.

    • Q: If I am over 50, can I make additional contributions to an IRA?A:

      The government has allowed those over 50 to make a “catch-up” contribution of $1,000.00 in addition to the annual contribution of $5,000.00.

    • Q: What is an IRA?A:

      An Individual Retirement Account is a special savings plan authorized by the Federal Government to help you accumulate funds for your retirement.

  • Money Markets
    • Q: Do I get checks with an M-C Money Market Account?A:

      No. You can access your account via virtual branch or coming into one of our branches; or, by calling the office.

    • Q: What happens if I do more than 3 withdrawals per month on my Money Market Account?A:

      There will be a charge of $5.00 per withdraw after three (3) free per month.

    • Q: What happens if I go below the $1,000.00 minimum balance on my Money Market Account?A:

      The account will be closed and the balance transferred to the primary share account.

  • Savings
    • Q: Am I required to have a savings account before I can open any other accounts at the Credit Union?A:

      Yes. The Savings/Share Account is your primary membership account. It must be opened before opening other accounts.

    • Q: How much do I need to open a savings account?A:

      A $5.00 minimum deposit is required to open a savings account.

    • Q: How do I become a member?A:

      Join

  • Debit MasterCard
    • Q: Where can I use my Debit Card?A:

      Your Debit Card can be used to make purchases anywhere MasterCard is accepted or at any ATM machine (Check the back of your card for available Networks)

    • Q: Can I use my Debit Card when traveling outside of the United States?A:

      Yes you can. You are able to use your card anywhere MasterCard or any of the other networks listed on the back of the card are accepted. Please notify the Credit Union of the dates of when and where you will be traveling. That way we are aware and your card will not be restricted because of possible fraud.

    • Q: Are there any surcharge free ATMs?A:

      Yes. Any ATM that has the symbol “CU$” is surcharge free. See ATM Locator Although there is no surcharge, each transaction counts against your ten (10) free transactions each month. See Fee Schedule

    • Q: What is the phone number I need to call if my Debit Card is lost or stolen and the credit union is closed?A:

      1-800-528-2273. If customer service can not locate your card number, please make them aware that they need to locate our Credit Union as M dash C Federal Credit Union.

    • Q: Am I able to choose my own PIN (personal identification number) for my debit card?A:

      No. At this time the PIN is system generated.

    • Q: Can I place a stop payment on a point of sale?A:

      No. Once a merchant has gotten an authorization, a hold for that amount is placed on your account. The amount will then be debited.

  • MasterCard SecureCode
    • Q: Can I register my debit card and my credit card from the same link?A:

      No. There are two separate links, one for the debit card and one for the credit card. Be sure to complete the correct form for each type of card that you would like to register.

    • Q: How do I register my card?A:

      Click on the link for SecureCode and complete the registration process. Be sure to record your user name and password that you have chosen for future reference.

    • Q: What is the benefit of registering my cards with MasterCard SecureCode?A:

      MasterCard SecureCode adds security to purchases made online with participating merchants.

  • Platinum MasterCard
    • Q: Why did I get a PIN (Personal Identification Number) for my credit card?A:

      A PIN is issued for each card so you have the added convenience of doing a cash advance at ATM machines worldwide.

    • Q: Do I earn Rewards! Points when I use my credit card?A:

      Yes. You will earn one (1) point for every dollar spent using your M-C Federal Credit Union Platinum MasterCard. (Cash advances, convenience checks and finance charges do not apply).

    • Q: Is there an annual fee for my card?A:

      No. M-C Federal Credit Union does not charge an annual fee.

    • Q: Who do I contact to dispute an item on my credit card bill?A:

      Contact customer service at 1-866-271-6649 for questions concerning your bill or to dispute an item.

    • Q: Who do I contact if I lose my credit card?A:

      Call 1-866-271-6649 to report a credit card lost or stolen.

  • Rewards! Your Points! Your Perks! Your Ways!
    • Q: How much does it cost to participate?A:

      There is no cost. Membership in Rewards! is absolutely free for M-C Federal Credit Union cardholders.

    • Q: Can I share my points with family members?A:

      Yes, all cards within an account automatically earn points together. In addition, if you have multiple credit accounts with M-C Federal Credit Union, you can link them together to earn rewards faster.

    • Q: Where can I earn points?A:

      Everywhere your card is accepted and you can earn up to 5 x points by shopping at participating retailers in Perks!Mall.

    • Q: How do I earn points?A:

      You earn points every time you sign for your purchases and additional points for shopping at participation retailers or online through. When shopping in-store, select credit and sign for your purchases.

    • Q: What is Rewards!?A:

      A rewards program where you earn points every time you use your M-C Federal Credit Union Platinum MasterCard and sign for your purchases.

      Earn Points on your everyday purchase! Redeem Merchandise, A Vacation Getaway, a A Sky Diving Trip, or simply select from hundreds of Gift Cards choices!

  • Auto Loans
    • Q: What is cross collateralization?A:

      Any collateral securing a loan with the credit union, excluding your primary residence, may secure other loans you receive from the credit union including any credit card loan.

    • Q: What are the maximum insurance deductibles for comprehensive and collision allowed by the credit union?A:

      $500.00 is the maximum for each deductible

    • Q: Do you finance private owner sales?A:

      Yes, there is additional documentation that is required.

    • Q: What address has to be on the auto insurance policy?A:

      Our auto insurance is tracked by Support Insurance Systems, the insurance should be sent directly to them at: M-C Federal Credit Union Insurance Center, PO Box 292499, Dayton, OH 45429

  • Business Loans
    • Q: Do I have to have a business account with the credit union to apply for a business loan?A:

      Yes

  • Home Equity Loans & Lines of Credit
    • Q: What are the fees associated with this type of loan?A:

      Generally the fees are less than $600.00.

    • Q: Will an appraisal be required?A:

      We must document the value of your home.

    • Q: What is the maximum loan amount for a home equity loan or line of credit?A:

      $300,000.00

  • Home Loans
    • Q: Do you finance non owner occupied properties?A:

      Yes, that falls under our business loan portfolio and there are additional terms.

    • Q: How much of a down payment is required for a purchase money mortgage?A:

      The credit union requires 20% down.

  • Personal/Signature Loans
    • Q: What is cross collateralization?A:

      Any collateral securing a loan with the credit union, excluding your primary residence, may secure other loans you receive from the credit union including any credit card loan.

    • Q: What do you mean by line of credit loan?A:

      You will have a credit limit established for you and you can borrow up to the limit as needed. As you make your payments you are replenishing the credit limit for future use.

    • Q: What is the maximum term for the signature loans?A:

      60 months

  • Student Loans
    • Q: Does M-C offer student loans?A:

      Please contact your school’s Financial Aid Office regarding student loans.

  • Activities
    • Q: How will I know if an automatic transfer instruction has expired?A:

      Under alerts options you can set up an alert to remind you if the transfer you requested has expired. When transfer is due to expire you will receive an alert at log on as chosen to remind you of this expired transfer. At this time you can set up a continuing transfer if wanted.

    • Q: Is there a cutoff time for me to delete or change a transfer?A:

      You can review, change or cancel a transfer at any time. If the transfer is scheduled for the current day, the change or cancellation must be done before daily settlement time (2PM Eastern Time). The system displays an error message if you attempt to modify a transfer after this deadline has passed.

    • Q: Do I have to re-enter transfers each month?A:

      You can set up automatic transfers of the same amount so you do not have to re-enter them each month.

    • Q: Why do I get a confirmation number when I make a transfer?A:

      Confirmation numbers are provided for all confirmed or modified transfers. This is your assurance that a transfer will be processed. It is also a reference number that can be used for requesting research.

    • Q: What kinds of accounts allow transfer activity?A:

      Allowed transfers may vary based on the rules for your account types. Some transfers are not allowed, such as a transfer to or from a CD.  Savings accounts are monitored by Regulation D and are limited to 6 electronic or phone transfers out of the account per month.

    • Q: Do transfers always occur on the day or date I designate?A:

      One-time transfers always occur on the date you designate. Recurring transfers are scheduled transfers set up to happen on the same day or date each month (for example: each 15th). If one of these recurring dates falls on a non-business day (such as a weekend or Federal holiday), the transfer is processed on the preceding business day.

    • Q: What kinds of transfers can I make?A:

      Three kinds of transfers are available:

      Immediate – A transfer that is attempted immediately.

      One-time – A transfer that is made on the date you specify.

      Automatic – A recurring transfer that occurs at your specified frequency until the date you indicate.

    • Q: What can I see on account inquiries?A:

      You can see your current balance, as well as some general information. This information varies depending on the type of accounts you have. You may see the maturity date of a CD or the debit card holds on a checking account.

    • Q: What activities can I do?A:

      You can perform account inquiries (including balances and additional information), view account history and transfer funds between accounts. Set up alerts and reorder checks. All of your available options are listed throughout the tab options.

    • Q: If I have more than one account. Can I see each account in Virtual Branch?A:

      You will need to contact an office and have a member service representative ask for access to that account. Once you are approved that account will show up in your accounts. You will need to configure your ‘My Accounts’ widget to see all accounts on the ‘my online banking’ screen.

  • Export
    • Q: Can I download transactions to my Personal Financial Manager software (such as QuickenTM, Microsoft MoneyTM or Microsoft ExcelTM)?A:

      Yes, the system has a download feature. However with OFM on our online banking system you can track your spending, savings along with creating goals and budgets to follow all within our online banking system without the added expense of the purchase of software.

  • Personal Information
    • Q: What are the system requirements for my User ID?A:

      The User ID is required to be 6 -12 alphanumeric characters, with a minimum of 1 letters and 1 numbers. Special characters are not allowed.

    • Q: How can I change my User ID?A:

      You may change your User ID at any time when logged on by selecting Options/Personal on the menu tabs.

    • Q: What are the system requirements for my password?A:

      The password is required to be 6 -12 alphanumeric characters, with a minimum of 1 letter and 1 number. Special characters are not allowed. We recommend that you change your password regularly.

    • Q: How do I change my password?A:

      Select Options/Personal from the menu tabs. You will have to type one of your reset questions and answer. Enter your old password and the new one. You are required to enter the new password twice for verification.

  • Secure Messages
    • Q: Can I receive an email to let me know that the system has sent me a secure message?A:

      To indicate when you want to receive an email, select Options/ Alerts. On this screen you can choose which incidents should generate an email. When receiving a reply from the message center you will receive and email notifying you of that automatically.

    • Q: Can I send a secure message to one of my merchant/payees?A:

      No, you may only send a secure message to us.

    • Q: How do I send a secure message to Customer Service?A:

      When you select Send Message from the message widget, a New Message box is presented. Type your subject and message content and click submit. You can also get to the message center by the Contact link.

  • Cashier’s Checks
    • Q: Is there a difference between a Cashier’s Check and a certified check?A:

      Yes, a Cashier’s Check is one in which funds are drawn by the Credit Union using funds directly from a member’s account. A Certified Check is when a member uses their own check and the credit union uses a stamp on the front with a certified number. The credit union will put a hold on the funds in the member’s account until the check clears the account.

    • Q: Is there a fee for this service?A:

      See Fee Schedule

  • Night Deposits
    • Q: What if I do not see my Night Deposit Transaction?A:

      Please contact the location you dropped the night deposit. We keep records of our Night Deposit Transactions.

    • Q: Is the Night Deposit secure?A:

      Yes. All night deposits loctions are secured by an alarm system

    • Q: What information is needed for a night deposit?A:

      We ask that you include your account number and brief instructions on what you would like to do with your transaction and if possible please enclose into a envelope if possible.

  • Savings Bonds
    • Q: When will my series EE or I bond stop earning interest?A:

      Currently all series EE and I bonds earn interest for thirty years.

    • Q: How long does it take for a series EE bond to reach face value.A:

      It can take up to twenty years depending on the current interest rate.

    • Q: How old does a bond have to be before it can be redeemed?A:

      You can redeem any series EE or I bond one year after the purchase date.

  • Traveler’s Checks
    • Q: Do Travelers Checks ever expire?A:

      No.

    • Q: What are Cheques for Two?A:

      Cheques for Two are perfect for traveling couples and families. They offer a unique dual signature feature that allows either of you to purchase them and either of you to use them.

    • Q: What do I do if they are lost or stolen?A:

      Call an American Express Travelers cheque Customer Service Center as soon as possible to report the loss and open a claim.

  • Wire Transfers
    • Q: How long will the transfer take to get to my account?A:

      Domestic wires should be at the other financial institution within one hour of sending it. International wire transfers could take up to one week.

    • Q: Can I just use the routing number on the bottom of my checks?A:

      Most banks have a special routing number just for wire transfers, so it is always recommended that you call for special wiring instructions. M-C FCU has special instructions to receive a wire. Call an MSR today to find out!

    • Q: How much will a wire transfer cost me?A:

      See Fee Schedule