Q. What is a credit union?
A. A credit union is a member-owned, non-profit cooperative financial institution formed for the purpose of encouraging savings by offering a fair return, using those savings to make loans at competitively low interest rates to members, and providing other financial services. A common bond of association unites members of a credit union. There are more than 12,000 credit unions in the United States; 502 of these are in Michigan. Of nearly 72 million credit union members nationwide, 4 million are Michigan residents.
Q. Are credit unions safe?
A. Yes. Your money is safe and secure at Co-op Services Credit Union. Your deposits are insured up to $250,000 by the National Credit Union Administration (NCUA). The NCUA is the federal government regulator and insurer for credit unions.
Q. How can I open an account at Co-op Services Credit Union?
A. Visit one of our five full-service locations. You will need to provide a driver's license or state picture identification and two additional pieces of identification, such as social security card, signed charge card, medical card, birth certificate, current pay stub with name and social security number from a familiar payroll company, etc. A birth certificate and social security card are required to open an account for a minor. If the minor does not have a driver's license, then an adult (parent/guardian) is required to be a joint owner on the account.
Co-op Services Credit Union members are required to maintain a minimum savings account balance of $5.00 to take advantage of our full range of financial products and services. Co-op Services Credit Union's common bond is a $2.00 membership in our sponsoring organization Cooperative Services, Inc., a world-class cooperative housing provider.
Q. What are the credit union's lobby hours?
A. Our full-service locations are open as follows:
Monday and Friday
Tuesday, Wednesday and Thursday |
9:30 a.m. - 6:00 p.m.
9:30 a.m. - 5:00 p.m. |
Our Family Service Center locations are open as follows:
Monday through Friday
Saturday |
9:00 a.m. - 7:00 p.m.
9:00 a.m. - 2:00 p.m. |
Q. How do I contact the credit union if I need to speak to someone about my account or I want to apply for a loan over the telephone?
A. You can contact the credit union on Monday and Friday from 9:00 a.m. to 6:00 p.m. and on Tuesday, Wednesday and Thursday from 9:00 a.m. to 5:00 p.m. by calling our TeleServices Department at 800-321-8570, ext. 200. Our local phone number is 734-522-3700, ext. 200.
Q. What is Co-op Services Credit Union's ABA routing number so that I can sign up for Direct Deposit of my paycheck?
A. Our routing and transit number (also known as ABA number) is 272477694.
Q. What do I need to do to open a checking account at Co-op Services Credit Union?
A. Before you can open a checking account, you will need to establish a regular savings account. You must deposit at least $5.00 into the savings account and then you can open up a checking account. All parties on the checking account must sign the checking account card.
Q. How can I apply for a loan?
A. You can apply for a loan by calling our TeleServices Department during business hours, or by calling our 24-hour loan line at 800-778-CSCU, or through CSCU Direct, or through this website. Applications through CSCU Direct and this website will be sent to the credit union via email. In most cases, loans are reviewed and answered within one hour.
Q. What can I do if my credit report is inaccurate?
A. Whether it is Co-op Services Credit Union's or another creditor's trade line that is inaccurate, the credit bureau must be notified. You need to send a letter to the appropriate credit bureau with the following information: your name, address, social security number, date of birth, the name of the creditor and the account number in dispute, and an explanation of the problem. The addresses of the three major credit reporting agencies are as follows:
Experian
Attn: NCAC
P.O. Box 2104
Allen, TX 75013 |
Equifax
P.O. Box 105873
Atlanta, GA 30348 |
Trans Union
P.O. Box 390
Springfield, PA 19064 |
Q. Do I need to transact my credit union business at the branch where I opened my account?
A. You can conduct your credit union business at any one of our five full-service locations or any of the Family Service Centers.
Also, Co-op Services Credit Union provides account access through Automated Teller Machines (ATMs), PAT (our phone access teller audio system), CSCU Direct, our TeleServices Department (800-321-8570, ext. 200) and the mail.
Q. My company does not offer credit union services to their employees. Who can they contact for more information?
A. Credit Union membership is a free benefit that employers can offer to their employees. For more information, please contact our Marketing Department at 800-321-8570, ext. 107.
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