| Q: |
What is the difference between a bank and a credit union? |
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SIU Credit Union is a not-for-profit, cooperative financial institution where you’re the boss! The directives that guide how SIU Credit Union meets your banking needs come
from members like you - not from some Board of Directors across the country. We’re locally-owned and have served the needs of Southern Illinois for over 70 years!
While banks are trying to maximize their profits, SIU Credit Union’s earnings are returned to the membership in the form of additional services, higher dividends on savings, and lower loan rates. And remember - once a member always a member; once you join, you’re a member for life. |
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| Q: |
How long has SIU Credit Union been in business? |
| A: |
SIU Credit Union has been in business for over 70 years. We have been serving Southern Illinois since 1938. |
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| Q. |
How do I join SIU Credit Union? |
| A. |
You can join SIU Credit Union by visiting one of our branches in Carbondale or Marion or by downloading our Membership Application. |
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| Q: |
What is a Membership Shares Account and why do I need to open one? |
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A Membership Shares Account (S1) is your savings account. By opening a Membership Shares Account, you are able to maintain your membership and enjoy all the benefits of SIU Credit Union. |
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| Q: |
Why do I have to keep $5 in my savings account to maintain my membership? |
| A: |
The $5 you place in your Membership Shares Account guarantees your membership in SIU Credit Union. While you must keep the $5 in your account to maintain your membership, the $5 is not a fee. The money remains yours after you close your account with SIU CU. |
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| Q: |
What is ChexSystems? |
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ChexSystems is a new account screening system designed to check your past banking experiences for excessive NSF activity, kiting, and/or fraud. All accounts are processed through ChexSystems before they are opened. |
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| Q: |
Do I have to order my checks for my checking account through SIU CU? |
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No, you do not have to order your checks through SIU Credit Union. You may order your checks through any company you wish. SIU CU does offer our members the ability to order checks through Clarke American©. |
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| Q: |
How much does the Ultimate VISA Check Card cost with my checking account? |
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The Ultimate VISA Check Card is provided free when you open a checking account. Click here for more information on the Ultimate VISA Check Card. |
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| Q: |
Can my family members join SIU Credit Union? |
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Yes, if you are a member, many of your family members can join SIU Credit Union. To see which family members can join click here. |
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| Q: |
Where is SIU CU located? |
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SIU Credit Union has branches in Carbondale, Marion and Metropolis. Click here for the SIU Credit Union locations. Click here for ATM locations. |
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| Q. |
What are the fees associated with SIU CU membership? |
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SIU Credit Union has a variety of fees for a products and services. Click here for more information on our fees. |
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| Q. |
If my requirements for membership change, can I still be a member of SIU CU? |
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If your requirements for membership change (i.e. you move or change jobs), you can still be a member of SIU Credit Union. Remember - once you become a member, you're a member for life! |
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| Q. |
Are my funds insured? |
| A. |
Depending on your situation and how you set up your accounts, most of your accounts are federally insured by the NCUA for up to $250,000. For more information on how much your funds are insured, please contact a Membership Service Representative at 618-457-3595 for details. |
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| Q. |
Can I have my paycheck directly deposited from my employer? |
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Click here for information on Direct Deposit from your employer. |
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| Q. |
I understand I can vote on various credit union issues - Where and when do I need to do this? |
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If you have given your proxy vote to the Board of Directors, you do not need to vote. However, if you would like to vote on various issues concerning the credit union, we hold an Annual Membership meeting every year in the spring. Notification of this meeting is presented in our quarterly newsletter as well as in our branches. |
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