What is Statewide Federal Credit Union?
Statewide FCU is a cooperative, not-for-profit financial institution organized to promote savings, provide credit, and offer quality financial services to its members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and hires a management team and staff to run the credit union. The board also establishes and revises policies, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them.
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Who owns Statewide FCU?
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. Statewide FCU doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is entitled to vote on important issues, such as the election of member representatives to serve on the board of directors. Since our "customers" are our owners, we exist solely for and because of our members, and our goal is to give them the best service possible!
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Who can join Statewide Federal Credit Union?
Membership in Statewide is open to employees and retirees of our eligible membership groups, and their immediate family members (spouse, children, parents, brothers and sisters). For more information, see our "Membership" page.
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Are savings deposits insured?
Yes. All savings accounts are insured up to $250,000 (through December, 2009) by the National Credit Union Share Insurance Fund (NCUSIF), an agency of the federal government.
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What days will Statewide be closed in 2009?
Our holiday schedule for 2009:
January 1 New Years Day
January 19 Martin Luther King, Jr Day
February 16 Presidents' Day
May 25 Memorial Day
July 3 Independence Day
September 7 Labor Day
November 11 Veterans' Day
November 26 Thanksgiving Day
December 25 Christmas Day
January 1, 2010 New Years Day
You can also view our monthly calendars on our website.
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What are Credit Union Service Centers?
Through the cooperation of more than 1400 credit unions across the nation, Credit Union Service Centers provide free 'hometown service' to Statewide members at more than 3500 walk-in locations in 47 states and six foreign countries! Simply complete a CUSC transaction form available in their lobbies, provide your credit union name, your account number, and a photo ID, and your transaction is completed just as though you were in one of our offices! For a list of Credit Union Service Centers in your area, go to www.cuservicecenter.com. (You can also download the locations of all the Service Centers into your GPS device for quick location of one while you're on the road!)
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What are Statewide MembeReward Points and how do I see how many I have?
MembeReward Points are a benefit of Statewide's Platinum Visa Card. Each time you use your card, you get points towards the purchase of valuable gifts or travel. We also have special promotions from time to time so that you can earn "extra" points for participating in various credit union services or products.
To check your MembeReward Points balance, to view the gift catalog, and to redeem your points, go to www.curewards.com.
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Why do I have to remove my headgear and sunglasses and turn off my cellphone when I conduct a transaction in a Statewide Office?
At Statewide, we're ever mindful of the dangers threatening financial institutions and their patrons, not the least of which is Identity Theft. We want to be sure that the person standing before is truly the owner of the account being accessed.
Another danger is the possibility of being robbed. Our requirement to remove headgear and sunglasses might cause a potential robber to go elsewhere if he knows we'll get a good photograph of him.
In short, we're looking out for your money and our employees. Thank you for your cooperation.
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How long do I have to be a Statewide member before I can apply for a loan?
Once you become a Statewide member, you are eligible for all the services we offer. In the case of loans, you are eligible to apply for a loan as soon as you become a member. Each loan is evaluated according to your individual credit history, and loan interest rates are based on that history.
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How much do I have to keep in my share savings account to remain a member?
A minimum $25.00 deposit is required to become and remain a Statewide member. You'll need to use at least one of our other services, such as a checking account, loan, etc., or maintain a balance of at least $100.00 to avoid an Inactivity Fee that may be assessed.
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How are dividends calculated on savings accounts?
Dividends are declared and paid monthly on share savings, club accounts, and Money Market accounts by the Board of Directors. Dividends are calculated on the average daily balance of the account, and compounded monthly.
Dividends on share certificates are accrued daily based on the account balance and the certificate interest rate. Dividends are compounded monthly.
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What is a 'substitute check'?
To make check processing faster, federal law permits financial institutions to replace original checks with 'substitute checks'. These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it in the same way you would use the original check." You may use a substitute check as proof of payment, just like the original check, for example.
Some or all of the checks you write on your Statewide checking account may be processed as substitute checks. For more information on your rights concerning substitute checks, click on "Notices, Terms, and Conditions" at the bottom of this page.
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Can I remain a Statewide member if I leave my current employer?
Yes, you can! Our philosophy is "Once a member, Always a member"! Once you join Statewide, you can remain a member and continue to use its services as long as you wish, no matter who you work for or where you live.
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Can I have a Joint Owner on my account?
Yes. You can add Joint Owners on any savings accounts you may have with Statewide. Please be aware, though, that the Joint Owner has the same rights and privileges that you do concerning the account, including the ability to close the account. You must also have the Joint Owner's permission to remove him/her as a Joint Owner, so choose wisely.
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How do I deposit funds into my accounts?
The easiest and safest way is to use the Payroll Deduction or Direct Deposit services offered by your employer (Most of our membership groups offer this as a convenience for their employees.) By doing so, you're guaranteeing that your funds are in your account on time, every time.
You can also bring or send deposits to any of our offices located in Jackson, Starkville, or Cleveland. The funds will be deposited into your account on the day that we receive them (Deposits late in the day may not be credited that day due to a particular branch's Federal Reserve deposit cutoff time. Call your branch to determine its particular cutoff time). Be aware that holds on your funds may be placed on checks to be deposited. If you are unsure, call any of our offices for clarification.
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Is there a charge for Automated Teller Machine (ATM) transactions?
There is no charge for using any Credit Union 24 (CU24), CU Here, or PULSE Select ATMs, located throughout the state and across the U.S., to withdraw or transfer funds from your checking or share savings accounts. There is also no charge or surcharge for using a Dolphin Debit ATM in MS, LA, or AR. You may also use any Cirrus or PULSE network ATM, but a $1.00 fee is assessed by Statewide for doing so. (Be aware that the financial institution that owns the ATM you use may also assess a fee, unless it's in the CU Here network.)
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I don't live near a Statewide branch office. How can I use the services of the Credit Union?
Statewide is as close as your telephone or your personal computer. As we've done since our organization in 1949, we handle a great deal of our business over the phone and by mail. This was further enhanced when we added our TellerPhone service, our 24/7 audio reponse system. You can check balances, transfer funds between accounts, and even request a check anytime, day or night!
In 2000, we began offering e*Br@nch, our home banking product. This offers the same features as TellerPhone, with the addition of being able to print details of your account and its history. You can also view cancelled checks written on your checking account. In 2002, e*St@tements (electronic statements) became available - no more waiting until later in the month to receive your statement. You can now get it on the first of the month on your PC!
Our most recent service addition, Credit Union Service Centers, now offers more than 3500 local credit union offices in 48 states where a Statewide member can walk in and conduct business on his or her account, just like they were in one of our offices! No fees, just great service all across the country!
As you can see, we offer many ways to manage your account, even if you''re not close to one of our offices. We have other services planned that will further enhance the ones we now offer.
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How often will I receive a statement on my account?
If you have a Statewide checking account, Money Management account, or a share savings account with any type of electronic funds transfer each month, you will receive a monthly statement. Your statement includes all the accounts you have with Statewide, including share certificates, club accounts, and loans. (You will receive a separate monthly statement for your Visa Credit Card.)
If you have a share savings account with no electronic transfers each month, you will receive a quarterly statement (January, April, July, and October). If you have no activity on your account during a quarter, you will not receive a printed statement that quarter; you will, however, receive an annual statement, regardless of your activity.
You can receive either monthly or quarterly statements electronically through your PC by using our free e*St@tement service, quickly and securely.
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If I have a problem with Statewide's service, whom should I contact?
Your first contact should be the Branch Manager of the office where you experienced the problem. Most times, the Branch Manager can take care of any difficulty you may have experienced. If not, call the Assistant Manager or the General Manager at the Flowood Office (601-420-5535).
If you still feel the problem has not been taken care of, notify the Statewide Supervisory Committee by writing them at PO Box 320454, Flowood, MS 39232-0454. The Supervisory Committee is composed of volunteer members who oversee the operation of the Credit Union. The Committee exists to provide an avenue for solving member problems.
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If my loan request is not approved, what should I do?
Your first action should be to obtain a copy of your credit report, which was used to determine your creditworthiness. You'll receive a letter from Statewide letting you know which of the credit bureaus we used to evaluate your loan. You can call that bureau for a free copy of your report.
Once you have the report, determine if there is information on it that is not correct. If so, notify the credit bureau and ask them to research the information and correct it, if possible. We will be glad to re-evaluate your loan request as soon as the report is updated and corrected.
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Am I automatically approved for a loan if I have Payroll Deduction or Direct Deposit?
No. Payroll Deduction and Direct Deposit are convenient methods of making loan payments, but they are no guarantees that the loan will be repaid. These services simply exist as conveniences provided by the employer, but the member can change or cease either one whenever he chooses.
Loans are evaluated based on the member's creditworthiness as determined by a credit bureau report and by his past credit history with Statewide. The use of Payroll Deduction or Direct Deposit does not enter into the loan decision.
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How do I enroll in Payroll Deduction or Direct Deposit?
You can contact the nearest Statewide office to initiate either of these services, or use the online signup form on this website. Let your employer know the TOTAL amount you want deducted each pay period - you'll tell Statewide how you want it distributed once it reaches us. We can distribute the funds however you wish to other savings accounts, loan payments, etc.
For your Direct Deposit to work correctly, you need to give the payroll office your correct account number. For checking accounts, look at the bottom of your checks. They should look something like this:
|:265377222|:00000001234555*0001
The number after the zeroes after the second colon is your account number for Direct Deposit.
If you want funds deposited to your share savings account, simply use your base share account number:
Account number: 12345 To Payroll Office: 12345
If you have any questions about setting up Direct Deposit, contact the nearest Statewide office.
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How can my employer or association become an eligible membership group for Statewide?
New membership groups are approved by Statewide's Board of Directors, upon receipt of a letter from the group requesting access to credit union services. The group should agree to provide payroll deduction and/or Direct Deposit services for its employees, if available. Once approved by the Board of Directors, the request is forwarded to the National Credit Union Administration for its approval, since credit unions are not open to the general public. The entire approval process normally takes about 30 days. If your company or group is interested in credit union service, let us know and we'll send you an information kit and sample letter of request.
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What can I do to protect myself against Identity Theft and fraud?
Here are some helpful reminders to prevent this from occurring:
1. The next time you order checks have only your initials (instead of your first name) and last name put on them. If someone takes your check book, they won't know if you sign your checks with just your initials or your first name, but your financial institution will know how you sign your checks.
2. When you're writing checks to pay on your credit card accounts, DO NOT put the complete account number on the "For" line. Instead, just put the last four numbers. The credit card company knows the rest of the number and anyone who might be handling your check as it passes through all the check processing channels won't have access to it.
3. Put your work phone number on your checks instead of your home phone. If you have a PO Box, use that instead of your home address. If you don't have a PO Box, use your work address. Never have your Social Security number printed on your checks. You can write it in, if necessary. But if you have it printed, anyone can get it.
4. Place the contents of your wallet on a photocopy machine; copy both sides of each license, credit card, etc. By doing so, you will know what you had in your wallet, and all of the account numbers and phone numbers to call and cancel. Keep the photocopy in a safe place. Also carry a photocopy of your passport when you travel, either here or abroad.
We've all heard horror stories about fraud that's committed on us by stealing a name, address, Social Security number, credit cards, etc. But here's some critical information to limit the damage in case this happens to you or someone you know:
1. We've all been told we should cancel our credit cards immediately, but the key is having the toll-free numbers and your card numbers handy so you know whom to call. Keep those where you can find them easily.
2. File a police report immediately in the jurisdiction where it was stolen. This proves to credit providers you were diligent, and is a first step toward an investigation.
But here's what's perhaps MOST IMPORTANT:
3. Call the three national credit-reporting organizations immediately to place a fraud alert on your name and Social Security number. The alert means any company that checks your credit knows your information was stolen and they have to contact you by phone to authorize new credit.
The numbers are:
Equifax: 1-800-525-6285
Experian (formerly TRW): 1-888-397-3742
Trans Union: 1-800-680-7289
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How do I wire funds to my Statewide account?
Funds should be wired to:
Receiving Financial Institution: Southeast Corporate Federal Credit Union, Tallahassee, Florida
ABA Number: 2631-8906-9
For Further Credit To: Statewide Federal Credit Union
Account Number: 265377222
For Final Credit To: Member's Name and Statewide Account Number with suffix trailer (75, 00, etc.)
Funds should be wired by 3:00 PM, Central Time to be available that day.
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FAQ
