Why RU RU still paying to to bank?

Transcription

1 SWITCH SWITCH KIT KIT Why RU RU still paying to to bank? Since 1954, RFCU has offered free checking. NO monthly service charge NO minimum balance required NO per check fee FREE debit cards FREE online banking FREE online bill pay FREE e-statements FREE surcharge free ATM network And much more FREE! Switch to your convenient Campus Credit Union! COLLEGE AVE CAMPUS 100 College Ave New Brunswick, NJ Fax Monday-Wednesday, 8:30-4:30, Thursday 8:30-6:00 & Friday, 8:30-5:00 BUSCH CAMPUS 85 Davidson Road Piscataway, NJ Fax: Loan Department Fax: Monday-Wednesday, 8:30-4:30, Thursday 8:30-6:00 & Friday, 8:30-5:00 Saturday: 9 AM 1 PM NEWARK CAMPUS 249 University Ave Newark, NJ Fax: Monday, Wednesday & Friday 9-4:00 Closed 1:00-1:30 CAMDEN CAMPUS 326 Penn Street, Room 136 Camden, NJ Fax: Monday, Wednesday & Friday 9-4: We want to help make your transition to Rutgers Federal Credit Union go as smoothly as possible. We know that it may seem inconvenient to change financial institutions, however by following our easy step-by-step instructions inside, you will be banking with us in no time! Federally insured by the NCUA

2 We look forward to serving you. By following these easy steps below, you will soon be a Rutgers Federal Credit Union member! Step One - Open your new account with Rutgers Federal Credit Union. o Come by one of our four conveniently located branches, or print the application from our website and mail it in! Please see eligibility criteria. o Opening your new account would include applying for a loan, debit/atm card, ordering checks, etc. o Stop using your previous checking account. Allow time for all outstanding checks and automatic payments to clear. Remember to destroy ATM/debit cards, unused checks and deposit slips. Step Two - Move your Direct Deposits to Rutgers Federal Credit Union o Rutgers Employees Payroll Direct Deposit Setup o Not employed by Rutgers Fill out the Direct Deposit Authorization Form included in this kit to have your direct deposit funds deposited into your new draft checking or share savings account. Either send the completed form to your direct deposit department or bring it into RFCU for assistance. Step Three - Transfer any Automatic Payments and Debits to Rutgers Federal Credit Union o Complete the Direct Debit Authorization Form included in this kit to inform vendors who automatically take payments from your old checking account of your new account information. Mail the completed form to the vendors or bring it into RFCU for assistance. o Refer to the Direct Debit and Direct Deposit Checklist, which we have included for your convenience. This checklist contains the most common Direct Debits and Direct Deposits as well as helpful phone numbers and websites. Step Four - Visit for Home Banking self enrollment with Rutgers Federal Credit Union. Our convenient online banking service allows you to Pay all your bills electronically and securely at no extra cost. View account balances and histories. Transfer funds within RFCU Access printable checks paid. And much more! Step Five - Close your old checking account. o To close your previous checking account, simply confirm your balance and write a final check or complete the Close Account Request Form and send to your current financial institution.

3 Direct Deposit Authorization Form Complete this form to change each of your direct deposits to your new Rutgers Federal Credit Union account. Staple a VOIDED draft check from your new Rutgers Federal Credit Union account to the bottom of this page. Name Address City State Zip Code Company Name Company Address I authorize hereinafter referred to as the Originator, to initiate credit entries and adjustments for any credit error to my account(s) indicated below and Rutgers Federal Credit Union hereinafter referred to as Depository, to debit and/or credit to the same such account. Currently, I am receiving this direct deposit at the following financial institution: Name of Financial Institution: Routing # of Financial Institution Acct. Number As of (date), please begin making this direct deposit into my account at: Rutgers Federal Credit Union 85 Davidson Road Piscataway, NJ Routing #: Account Name: Account Type: Draft Checking/Share savings (Circle One) A/C# If the Originator (party making deposit) permits direct deposit to more than one account, I elect to have a portion of the proceeds deposited into the following account at the above named financial institution. Account Name: Account Type: Draft Checking/Share Savings (Circle One)A/C# Amount to Deposit: Net Pay/Fixed Amount (Circle One) $ This authority is to remain in effect until the Originator is notified in writing from me of termination in such time as to allow the Originator and Depository sufficient opportunity to act on my request. Signature Date ATTACH VOIDED CHECK FROM YOUR NEW RUTGERS FEDERAL CREDIT UNION ACCOUNT HERE

4 Direct Debit Authorization Form Complete and send this form to each company that you automatically pay from your old checking account. Staple a VOIDED check from your new Rutgers Federal Credit Union account to the bottom of this page. Name Address City State Zip Code Company Name Company Address I authorize hereinafter referred to as the Originator, to initiate debit entries, and to initiate, if necessary, credit entries and adjustments for any debit error to my account(s) indicated below and Rutgers Federal Credit Union hereinafter referred to as Depository, to debit and/or credit to the same such account. Originator Account to be Debited Depository Bank: Rutgers Federal Credit Union Routing Number Account Name: Account Type: Draft checking/share savings (Circle One) A/C# Debit Amount: $ Date of Debit: Direct Debit Frequency (Circle One) Weekly/Bi-Weekly/Monthly/Quarterly Beneficiary Account to be Credited Account Name Account Number This authority is to remain in effect until the Originator is notified in writing from me of termination in such time as to allow the Originator and Depository sufficient opportunity to act on my request. Signature Date ATTACH VOIDED CHECK FROM YOUR NEW RUTGERS FEDERAL CREDIT UNION ACCOUNT HERE

5 Close Account Request Form Complete and send this form to your old financial institution to close your old account. Any remaining balance will be transferred to your new account at Rutgers Federal Credit Union. Primary Account Holder Name Joint Account Holder Name Address City State Zip Code Company Name Company Address I authorize (name of current financial institution) located at, herein referred to as Originating Depository Bank, to close the below referenced account. All my checks have cleared the account which is being closed and all direct deposits and direct debits have been stopped. Account Number Routing Number Account Type: Draft Checking Share Savings Closing Balance $ (plus interest if applicable) Proceeds from the above referenced account are to be mailed to: Rutgers Federal Credit Union 85 Davidson Road Piscataway, NJ Authorized Signature: Date Upon receipt, the funds with be credited to our customer accordingly. The receipt of said proceeds via mail will serve as confirmation that the account has been formally closed. Customer Signature Date Joint Accountholder Signature Date

6 Direct Debit Checklist Payment Company Account Number Amount Date of Payment Mortgage/Rent Auto Loans Insurance Credit Cards Gas/Oil Electric Cable/TV Telephone Cell Phone Water Garbage Internet Provider Health Club Investments IRA/Retirement Charities Daycare Other Direct Deposit Checklist Payment Company Account Number Amount Date of Deposit Employee Payroll Pensions(s)/Retirement Plans Social Security Investment Incomes Other Helpful Phone Numbers & Websites Social Security Administration Office of Personnel Management Rutgers University Direct Deposit Rutgers University Benefits Specialist UMDNJ Direct Deposit Rutgers Federal Credit Union

7 Frequently Asked Questions Q. What is a credit union? A. A federal credit union is a non-profit, cooperative financial institution owned and run by its members. Organized to serve, democratically controlled credit unions provide their members with a safe place to save and borrow at reasonable rates. Members pool their funds to make loans to one-another. The volunteer Board that runs each credit union is elected by the members. Q. Am I eligible to join? A. Yes, you are eligible to join if you are an employee of Rutgers University, UMDNJ and RWJ Medical School Employees, Rutgers University Foundation, Rutgers Council of AAUP Chapter, Students attending Rutgers, the State University of NJ, headquartered in New Brunswick, NJ, limited to those living in New Jersey. Spouses of persons who died while within the field of membership of this credit union, employees of this credit union, persons retired as pensioners or annuitants from the above employment, members of their immediate families or households, and organizations of such persons. You are also eligible if you are an immediate family member of one of our current members. Q. How do I join? A. To become a member of the Credit Union, you must open a Share Account (Savings) by completing the membership application, providing a copy of your driver s license/government issued ID, a copy of your work ID, providing your social security number or tax identification number and depositing $25 into your share account Q. Who should I contact with questions? A. Please call or stop into Rutgers Federal Credit Union if you have any questions regarding your new account, making changes to your automatic payments/deposits, closing your old account or properly filling out necessary forms. One of our member service representatives will be glad to help you. Q. What is direct deposit? A. Direct deposit is a fast, convenient and reliable way to receive payments into your account. Funds from your payroll check, investment dividends, governmental benefits, etc can all be deposited electronically into your bank account. Q. When will my direct deposit begin? A. A new direct deposit usually takes two to three cycles to take effect. For this reason, the existing account you are switching from should be kept open until you are able to confirm that your new account is receiving your deposits. Q. What is automatic bill payment? A. Automatic bill payment is a simple and secure method of electronically paying recurring bills that helps you to avoid missing payments and paying late fees. These debit transactions are usually arranged with a company by giving them a voided check and a date to take out payments when due. It is frequently used to pay electric, gas, phone, loan and insurance bills. Q. When will automatic bill payments state being paid from my new account? A. It typically takes two to three billing cycles for automatic payments to begin or to get switched over. For this reason, the account that you intend to close should be left open until you have been able to verify that all necessary changes have been made. It is likely that during this short transition period you will have to maintain two open checking accounts your new account with RFCU as well as the one with your former bank. Q. How do I confirm that my automatic bill payments have been activated? A. In order to verify that automatic payments are being made through your account, you can call , log onto or check your monthly account statement. It is also recommended to verify with the billing company that they have received payment from your new account by verifying your monthly billing statement or calling the company s customer service department included on your billing statement. Q. What if a request to change an account is not accepted? A. The authorization forms advise your contacts to notify you or a member service representative if your submitted form is not sufficient to switch to create the direct deposit or automatic bill payment. Your RFCU member service representative can help you try to successfully resolve such issues. "Helping the Rutgers University community with life s financial challenges"