Q. What information does the Credit Union collect on members?
A. First time borrowers need to complete a Loan Application. Both can be obtained
through your on-site representative, or call the credit union
and we will be happy to mail one to you. Subsequent loan requests
require an updated form that can be faxed, or mailed to the credit union.
Q. How do I add/remove a joint member to/from my account?
A. To add a member you will need to complete a new signature card, which you and the joint member sign where indicated. To remove a joint member, all joint members of the account need to agree to the removal, or the account can be closed and remaining joint members may open a new account.
Q. Can my family members join the Credit Union?
A. Yes! Any member of your immediate family can become members.
Q. Can someone else make a transaction on my account?
A.
- Individual accounts can only be accessed by the individual member. No other person can make transactions.
- Joint Accounts - Any person(s) on the account can make transactions (deposits, withdrawals, etc.)
Q. How long do I have to be a member
before I can apply for a loan?
A. You may apply for a loan as soon as you become a member. There
are no membership time requirements for loan qualifying.
Q. How do I change my payroll deduction?
A. Payroll deduction change forms are available from your credit union. When changing deductions, remember
to indicate the total amount you want deducted from your
check and forwarded to the credit union.
Direct Deposit Questions
Q. Why should I use Direct Deposit?
- Safe – Your paycheck is protected against loss
or theft.
- Worry-free – Now you can be assured that your
check is deposited, even when you are away from home.
- Saves time – You no longer have to make special
trips to the credit union or stand in long lines on payday.
- Convenient – No more waiting for the mailman.
Your deposits will be made for you automatically, allowing
you to set your own timetable for getting cash.
Q. How will I be able to keep track
of my money?
A. Your check stub from your paycheck is your permanent record.
Q. Is there a charge for this service?
A. This service is free to all participating SPCO Credit Union members.
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