Frequently Asked Questions
Below are answers to the most frequently asked questions we have from our members. Just click on a question and the answer will drop down. If you have any questions that we have not answered here, please let us know.
We are always happy to assist!
Am I eligible to join Wexford Community Credit Union?
- If you live, work, worship, or are educated in Wexford, Missaukee, or Osceola counties, you are eligible for membership.
- If you have an immediate family member who is a WCCU member, you are eligible for membership.
- Visit either of our branch locations to join our membership and start seeing the Credit Union difference!
How do I become a member?
Stop in our office and see one of our Member Service Representatives. No appointment needed. You will need:
- Your Michigan Driver’s License or State of Michigan ID card (or any other government-issued photo-ID such as U.S. passport).
- A second form of ID which bears your name, for example, Social Security Card, Insurance Card, School ID, Voters Registration, Work ID, etc. (Reminder: Please remember to bring children’s social security card and birth certificate with you when opening children’s accounts.)
- Proof of physical address.
- If provided forms of ID do not list physical address, or if it is a brand new address, we will need to see car registration, any official mail, something that is printed with the physical address. (A Secretary of State update sticker on your license is perfectly acceptable.)
- If you work, worship or go to school in one of our eligible counties, we must have a letter from that organization, a paystub, or something to establish proof of the relationship.
- A $5.00 minimum deposit establishes your Regular Share (Savings) Account. This Regular Share (Savings) Account is required for access to all other services provided by the Credit Union. The $5.00 minimum deposit must remain in the account as long as you are a member of, and wish to use services provided by, Wexford Community Credit Union.
What is the difference between a credit union and a bank?
Credit Unions are not-for-profit institutions; because of this they can generally offer fewer account service fees, higher returns on savings, and lower interest rates on loans and credit cards. They operate as a cooperative, being owned by its members instead of stockholders. With your first deposit you become a member, which allows you a say in the decisions made by the credit union. Credit unions are committed to serving their members and communities by improving access to quality financial services.
Are my funds insured?
Your money is safe and secure at Wexford Community Credit Union, a strong, stable financial institution that has been serving the financial needs of its members since 1953. The National Credit Union Administration (NCUA), an agency of the United States Government, insures all accounts up to $250,000.00.
What is the credit union routing number?
The WCCU routing number is 272477322.
What should I do if I lose my debit of credit card?
During business hours contact us at a WCCU branch:
Main Branch- Cadillac
Phone: (231) 775-2081
Lake City Branch
After business hours:
If your WCCU Mastercard debit card has been lost or stolen please call CO-OP at 1-888-241-2510.
If your WCCU VISA Credit Card has been lost or stolen and it is after business hours, please call 1-800-991-4961.
How can I check my account activity?
Check your account balances for free 24 hours a day with our convenient online banking features or our automated phone system, CU*Talk at 800.860.5704. Or you can contact us at Main Branch- Cadillac, 231.775.2081 or Lake City Branch 231.839.2081 and we will be happy to assist you.
How can I change the contact information on my account?
You can login to your online banking account to update your contact information. You may also change information by mail or fax, a downloadable form is available on our Resources page.
Is there a fee to open an account at WCCU?
There are no fees for opening your WCCU Regular Share (Savings) Account. We only require a $5.00 minimum share deposit, which will remain in your Regular Share Account for as long as you are a member.
Does my checking account require a minimum balance?
Our Share Draft (Checking) account is an excellent value to our members. Enjoy the many benefits of your Share Draft account:
- No monthly fees!
- No monthly check-writing limit!
- No minimum balance!
- An initial transaction of $5.00 is required to activate the checking account.
- Order checks with an initial minimum deposit of $100.
- Overdraft protection – funds are automatically transferred from your savings account for a low $5.00 fee.
If I deposit money in the ATM, when will it be available to me?
The first $200 of any ATM deposit is available after 24 hours, and the remainder is available after 48 hours. If you make your deposit in the night deposit drop, it is processed the next business day and regular availability parameters apply, the same as if you visited a teller at the branch. Cash and checks not requiring a hold will be available upon processing.
Is there a daily limit for ATM withdraws?
There is a $500.00 daily withdraw limit to all PIN-based transactions. If you use your debit card with the PIN number at the grocery store for $200.00, for example, the ATM limit would then be $300.00. The limit for signature-based transactions (choosing credit instead of debit at the checkout) is $2,500.00.
When will my online bill payment be deducted from my account?
Electronic payments will be debited from your account on the day after the send date you choose. Mailed checks will be debited from your account on the day the payee processes the payment. If funds are not available when an electronic payment is processed, the payment will not be sent and you will need to reschedule that payment. If a paper check is sent, the payment will be processed when the merchant processes the check. If funds are not available at that time, the check will be returned and an overdraft fee assessed, along with any returned payment fee the merchant may charge.
When will my online bill payment be delivered?
You will see an estimated delivery date when you pay a bill online. The estimated delivery date for payments is just that: an estimate. Make sure you have funds to cover your payment!
My payee used to be sent electronic payments, why are they now receiving paper checks?
Many payees that were formerly paid electronically are now mailed paper checks, though payees are being converted to Electronic delivery every day. Please review your payees and scheduled payment dates to ensure timely processing. Watch for the icon to change as described below to know when your payee has been converted:
- Mailed check payees have a mailbox icon
- Electronic payees have a cloud icon
Do you have a video tutorials to show me how to use bill pay? Yes! Click HERE to go to our Online Services page.
How can I get set up for online banking services?
You will first need to contact a branch to request access to online banking, an MSR will set a default password for you and then you may go to the website for the initial log in.
Once registered, just click on the ItsME247 link on this site. This will take you to the secure login page for online banking, where you can enroll in online banking, bill pay, and sign up for e-statements. If you’d like to access mobile banking from your phone, clicking on the ItsMe247 link opens our mobile site.
Do you have video tutorials to help me learn about online services?
Yes! Click HERE to go to our Online Services page where you can view video tutorials.
Can I sign up to receive e-statements?
By default, you will automatically receive paper account statements by mail summarizing your account activity. We recommend signing up for e-statements, which will allow access to 18 months of your account statements through your online banking account. You can sign up for e-statements right in ItsMe247 online banking.
When I am away from home, are there ATMs available that will not charge a service fees?
WCCU partners with Co-Op, and there are nearly 30,000 surcharge-free ATM locations in the nation.
WCCU is also member of the Xtend Shared Branch Network, which features more than 200 networked Credit Union locations across Michigan and throughout the Midwest. This allows our members free and convenient access to:
- Make deposits
- Withdraw cash
- Cash checks
- Transfer funds
- Make loan payments
Use the Extend shared branch locator and find a branch wherever you may be travelling!
Is there an application fee for an auto loan?
No. WCCU does not charge an application fee for loans.
When will I know if my loan is approved?
Once your loan has been approved, you will be contacted by a loan officer to set up your loan dispersal appointment, typically within two business days.
If I am approved for a loan, am I obligated to take the loan?
Although we hope to offer you the best rate, we understand you may be shopping around for rates and terms. You are under no obligation to accept a loan once you are approved.
How long is my loan approval valid?
Loan approvals are valid for 30 days.
Can I refinance my auto loan?
If you have already made the purchase, and have a loan, don’t worry about missing Wexford Community Credit Union’s great rates. Refinance with us today!
Is there a penalty if I repay my loan early?
No. Pre-payment is allowed without penalty.
Which loans are eligible for Skip-a-Pay?
If you qualify for the Skip A Payment program, you can skip your payments right through your online banking, or visit either branch and make the request.
- A $25 fee is collected at the time your skip is applied, and you can choose whether or not to pay the interest due at that time.
- Qualifying loans include new and used auto loans, boat or RV loans, ATV loans, motorcycle loans, as well as your personal loan.
- The following requirements must be met:
- Your loan must be at least 200 days old.
- Your current loan payment must not be more than 30 days delinquent.
- Your account is in good standing.
- Loan balance cannot exceed disbursement limit.
What else do I need to know about Skip-a-Pay?
- Each loan may have a maximum of 6 skipped payments during the life of the loan, and only 2 skips are allowed each year per loan.
- Interest on your loan continues to accrue daily on the balance due.
- Each skipped payment extends the term of the loan by one month, and any skipped payment will result in a larger than normal final payment.
- Each Skip-A-Pay deferral extends your loan maturity one month and the GAP coverage will only cover the term for which you signed the agreement. If you have a 60-month term and skipped a payment, your loan now becomes a 61-month term and GAP would not cover the extra month.
- Exclusions from the Plan:
- Lines of Credit
- May be subject to other Credit Union restrictions
To what address should I mail my loan payments?
Your loan payments can be mailed to WCCU, 1021 N Mitchell St., Cadillac MI 49601. Please allow 5-7 business days for your payment to arrive and processed when mailed to our address.
What is the difference between my WCCU ATM card and my WCCU Visa card?
Money is directly deducted from your savings or checking account for purchases made with your WCCU ATM or debit card. The purchases are limited to your available funds. Your WCCU Visa credit card has a set credit limit. You can make purchases up to that credit limit. Each month your purchases will be reported on a mailed statement or can be reviewed online. A stated minimum payment will be required before the due date. Interest will be assessed on any balance that is carried forward.
I was approved for a WCCU VISA card. When should I expect to receive the card?
Once approved, your VISA account is active. You should receive your credit card within 10-15 business days.
What should I do if I lose my credit or debit card?
During business hours contact us immediately at a WCCU branch:
Main Branch- Cadillac Phone: (231) 775-2081
Lake City Branch Phone:(231) 839-2081
After business hours:
If your Mastercard Debit card has been lost or stolen please call CO-OP at 1-888-241-2510.
If your VISA Credit Card has been lost or stolen and it is after business hours, please call 1-800-991-4961.
To what address should I mail my VISA card payment?
Your loan payments can be mailed to WCCU, 1021 N. Mitchell St., Cadillac, MI 49601. Please allow 5-7 business days for your payment to arrive and processed when mailed to our address.
What are the fees for the WCCU VISA?
There is no application fee or annual fee for our WCCU VISA credit card.
How do I dispute a charge on my VISA statement?
The phone number for Chargeback/Fraud Disputes is 1-800-600-5249. The Visa representatives require a credit card account number, a transaction amount, date, and time. You can also stop in to either branch and speak to a Visa coordinator.
Are there fees if I use my WCCU VISA in another country?
We do not have any additional transactions fees, but there may be a transactional cost on the part of the merchant to be able to draw from a foreign credit card account. The same applies with your WCCU debit card.
How can I request an increase to my VISA card limit?
An increase can be considered by issuing a request with a WCCU Loan Officer. You will need to submit a briefly stated limit increase request and proof of income to process a review of the credit card account for the purpose of an increase. Please be aware that this request does result in a hard inquiry on your credit report.
Do you charge monthly account fees?
There are no monthly maintenance fees for your business account. None. Nada!
Do you require a minimum account balance?
There is no minimum balance requirement for checking or savings accounts. The $5 membership share stays reserved in the savings account, but there is no other balance requirement.
Can I order business checks?
Yes! Checks are available for business accounts. We have a wide variety of products to choose from, including computer checks, top- and end-stub checks, and deposit tickets.
Can I set up a business debit card?
If your business is registered under a EIN or TIN, you can have a debit card for your account. If, however, your business is registered under your social security number we cannot issue a debit card for that account.
Do you offer online services for business accounts?
We do! We offer a full range of online services from Bill Pay to online account transfers to online loan applications.
Can I make online loan payments even if my loan is with another bank?
Yes. With online Bill Pay, it’s easy. You just need the account number and contact information for the other financial institution. You can set up one-time payments or recurring payments and you can make changes at any time.
Do you offer direct deposit for payroll?
Currently, if all your employees have a WCCU account, we can provide payroll direct deposit services. We are investigating expanded options for payroll, so stay tuned for updates.
What type of overdraft protection do you offer?
We offer overdraft protection in the form of a share transfer. If a payment comes through and the checking funds are insufficient to cover it, we will automatically transfer the required amount to the checking from the savings. There is a $5 transfer fee each time this occurs.
We also offer a Line of Credit loan that can be used as overdraft protection. This loan is attached to your checking/share (savings) account and is activated when used for overdraft protection or for a revolving line of credit.
Funds will be automatically disbursed from the Line of Credit loan to cover an overdraft.
NO return check fees to pay
Overdraft advances given in increments of $100.00
What type of Commercial Real Estate loans do you offer?
Our commercial real estate loans are written as adjustable-rate loans. No more worrying about the refinancing risk that comes with balloon loans. We want you to succeed!
What documentation is required to apply for a business loan?
Business Loan Check List
- Driver’s license/State ID and Social Security card
- Two years of your Federal tax returns and two years of your business’s Federal tax returns. (If your business is less than two years old, we’ll accept a year-to-date Profit and Loss statement.)
- If your business is a Corporation, please bring your Corporate Resolution documents.
- Other business documents: DBA, Articles of Incorporation, or Articles of Organization (for organizations and corporations)
- Executed Purchase Agreement (if applicable)
- Dealer Write-up (if applicable)
The following documents need to be completed as well; get copies from your accountant or let your WCCU Personal Banker help you complete them during your appointment:
- Personal Financial Statement
- Balance Sheet
- Income Statement
- Statement of Cash Flows
Can I repay my loan early without penalty?
You can, and there’s no penalty for it, either. You read that correctly: No prepayment penalty.
I have more questions, who can I talk to?
Call Levon Garbooshian at 231.775.2081 ext. 305 to get more information and to set up your appointment today.