Q. What is a credit union?
A. A credit union is a not-for-profit financial organization that is owned by its members and controlled by its Board of Directors, not shareholders. The credit union’s Board of Directors are not paid, but rather, serve on a voluntary basis and work as a team with the membership to run the credit union. Credit unions are regulated by the NCUA (National Credit Union Administration), which is the government organization equivalent to the FDIC for banks.
Q. How can a financial institution be “not-for-profit”?
A. Credit unions generate capital for operating costs by receiving deposits and from repayment of loans. They do not generate capital through the sale of stocks to stockholders. A portion of the profits are paid out in the form of dividends to the members. “For-profit” institutions retain all profits received.
Q. Why choose a credit union over a bank?
A. Credit unions are popularly recognized for their lower loan rates and lower-to-no fees on many of the traditional products and services offered by traditional, for-profit financial institutions. Credit unions are member-owned. Each member has voting rights and receives dividends from CU profits paid on a monthly basis. Federal credit unions participate in a network of shared branches providing members with many alternatives to finding a service center/branch when they are not within the vicinity of their credit union’s offices. Credit unions invest time and interest in building the communities where they are based since many are established by local businesses and interest groups.
Q. Are my funds insured at a credit union?
A. All funds deposited at federal credit unions are federally insured up to $250,000 through the NCUA (National Credit Union Administration), an agency of the Federal Government.General Membership.
Q. Who can join United Cities Credit Union?
A. If you live and/or work in the cities of East Orange, Irvington, Maplewood, Newark, Orange and South Orange, or if you are the family member of an existing member you may apply for membership at the credit union.
Q. How do I join the credit union?
A. Membership applications may be downloaded and printed from our website or picked up at our office.
IN PERSON: Bring the membership application to our Office with your board ID and current driver’s license or state ID with photo. A current passport with photo, accompanied by a recent utility bill-gas, electric or water with the name and address of the person applying for membership on it are also acceptable forms of ID when presented together. The ID bearing the applicant’s address MUST have the current residential address on it (DMV address change stickers are acceptable). Cash, money order or check for the initial deposit ($50.) to activate your membership account.
Q. What kinds of products and services does a credit union offer?
A. United Cities Credit Union offers a wide variety of deposit and loan products to our members. From youth accounts to savings accounts to checking products; we offer vacation and holiday accounts, Certificates of Deposit (CD), credit cards and loans of all types. Your funds are accessible to you in-person, online and via smart phone.
Q. Can I apply for a loan or use other credit union services without having an account?
A. At the credit union we believe that an invested member holds the best interest of the credit union family at heart. In order to be a “member-owner”, all members must open a Savings account and maintain no less than $50.00 in the account. With the Share Savings account opened the member may enjoy all credit union services available.
Q. How soon after opening my account may I apply for a loan?
A. There is no waiting period required. As soon as you deposit of $50.00 initial deposit is made you may apply for a loan.
Q. What must I do to apply for a loan?
A. Loan applications may be downloaded and printed from the Home page of our website or picked up at one of our service centers. Applying in person is always the most personal way to apply, however; loan applications are also received via mail. Mail to United Cities Credit Union, 195 Norman Road, Newark New Jersey 07106 ATTENTION: Member Services. Please have copies of the applicant’s two most recent paystubs, previous years W2 attached to the application (if you have a co-applicant, please also attach copies of their documentation). Be sure to sign the application and have a valid phone number and email address at which we can contact you with further questions or to set up a follow up appointment.
Q. Can I pay bills from my account online?
A. Yes. You can set up automatic BillPay once you are registered online for UCCU Bill Pay. Keep in mind that if you authorize a third party to access your account for the purpose of payment and at any time wish to stop this arrangement, you must contact the third party. The credit union has no authorization to act on your behalf in these types of agreements.
Q. How do I avoid fees at other ATMs?
A. To avoid fees, go to UCCU’s website and locate ATMs in the Co-Op Shared Branch network, by using the link at the bottom of the Home page of our website. The Co-op Shared Branch symbol is also located on the reverse side of your ATM and/or Mastercard Check Card and can be found on any participating ATM.
Q. What do I do if I’m far away from the United Cities Credit Union and need to make a transaction?
A. United Cities Credit Union is part of a larger network of federal credit unions throughout the United States. If you need to make a transaction on one of your accounts but are not near the office at the time, finding a Shared Branch Service Center is only a click away. From our Home page use the link at the bottom for Co-Op Shared Branch network to locate participating institutions. A screen will populate with a form for your current location’s address. Fill out the fields and hit submit to locate the nearest Share Branch office. With your United Cities Credit Union account number and your picture ID, you can go to a listed Shared Branch service center and make deposits, withdrawals and/or payment to your Visa card or loans as easily as if you were standing in United Cities Credit Union lobby.
Q. Why does it seem like there’s a difference between the balance I get at the ATM or on UCCU website and what is available for me to withdraw or spend?
A. Financial institutions use the terms “actual balance” and “available balance” to describe the status of funds in an account. The actual balance on your account is the total amount of money you have in the account at that given moment. The available balance is the difference between your actual balance and any pending transactions that haven’t posted yet. It’s a safeguard to keep you from over-drafting your account.
Q. I am retiring. Do I have to close out my credit union account since I am leaving my place of employment? My family moved out of Essex County and the credit union is too far away now. How can I keep my account open?
A. Retiring from your job or profession or moving out of Essex County doesn’t have to mean the end of your financial relationship with United Cities Credit Union. If you are retiring, consider the tremendous benefits of lower rates and fees that will help you manage your retirement budget. Moving out of Essex County? With over 55,000 ATMs and 5,075 Shared Branch locations nationwide your ability to access your money is always right around the corner.Managing Accounts and Balances.
Q. How can I find out about my account balances?
A. Managing your accounts can be done online by registering for UCCU’s online banking from the Home page of our website. You will need to register online and set up your own personal security features. Once registered, you can access your account online or from the website at www.uc-cu.org. If you prefer the telephone, you can also phone (866) 803-6435. These are the quickest and most convenient forms of checking your balances. If you check your balance at an ATM, please bear in mind that the balance may not reflect any pending transactions.
Q. Does United Cities Credit Union keep a list of my passwords in case I lose them?
A. No. For the privacy and security of our members, we do not keep such records. We strongly encourage our members to keep their passwords and security question answers confidential and in a secure location. If you lose, forget or misplace such information, we can reset your accounts.
Q. I forgot my password and locked myself out of my account. What can I do?
A. During business hours, call 973-375-9182 to speak with a Member Service Representative or stop by our office. We will be glad to restore the settings so that you can reset the password.
Q. What is an inactivity fee and how do I avoid being charged?
A. Inactivity fees are charged on accounts that have become dormant. A dormant account is one that has not had any activity recorded on it within 12 months. Members can avoid inactivity fees by making a simple deposit on their accounts no less than once per year.
Q. Does UCCU have a list of any and all fees that I could incur on my accounts?
A. Yes, this is referred to as a Fee Schedule. All applicants receive one when they become new members and is also published in the quarterly newsletter. You may ask for a recent copy on your next visit.
Q. Where can I check my credit card balance and available credit?
A. You may use our, toll free, 24 hour, number 866-803-6435.
Q. How would I report my credit card as lost or stolen?
A. Please call 877-537-8056 (available 24/7/365) IMMEDIATELY if your card is lost or stolen, or you suspect that there is unauthorized activity. You will also need to contact us directly at 973-375-9182 or at [email protected] so we may issue you a new card.
Q. How would I report my ATM or debit card as lost or stolen?
A. Please call 877-537-8056, (available 24/7/365) IMMEDIATELY if your card is lost or stolen, or you suspect there is unauthorized activity. You will also need to contact us directly at 973-375-9182 so we may issue you a new card.
Q. Should I contact the credit union when I will be traveling?
A. Yes. Give us a quick call at 973-375-9182 so we may note your account and let you know if we have a fraud block in the area you will be traveling, which would prevent you from using your ATM or debit card.d Electronic Deposit of other funds.
Q. How do I set up Direct Deposit to my UCCU account?
A. To set up direct deposit please see your payroll representative at your place of employment. You will need to ask if the company has a designated payroll form. If they do not, the credit union can provide you with a generic form. You will also need to provide your employer with your UCCU Savings account number of choice (0-6 digits) and the credit union’s ABA Transit or Routing Number (221277379).
Q. What if my pay goes to another financial institution. Can I have a partial amount of my paycheck deposited electronically to my UCCU Savings account?
A. Yes. Most employers give the option of splitting the employee’s paycheck between multiple financial institutions. You will need to provide your employer with your UCCU Saving’s Share or Checking account number (0-6 digits) and the credit union’s ABA Transit or Routing Number (22-1277379). United Cities Credit Union address is 195 Norman Road, Newark, NJ 07106.
Q. How long does it take for my payroll to start depositing electronically to my UCCU Savings account?
A. In most cases, 1-2 pay periods from the time you give your employer the completed payroll forms.
Q. Can I have my tax refund, child support, alimony, pension, social security and other benefits electronically deposited to my account?
A. Yes. You will need to contact the agency providing the benefits and provide the appropriate parties with your UCCU Saving’s Share or Checking account number (0-6 digits) and the credit union’s ABA Transit or Routing Number (22-1277379). United Cities Credit Union address is 195 Norman Road, Newark, NJ 07106.
Q. How long does it take for a deposit to post to my account?
A. Funds deposited before 12 noon Monday-Friday are available for withdrawal within 24 hours. Funds deposited on Saturday before 12 noon will be available on Monday. Checks may be subject to a hold period.
Q. What is UCCU’s Routing Number?
A. 221277379