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FAQs
- What is LOC's Routing Number?
- How do I join the credit union?
- Where do I mail my deposits or loan payments?
- How do I change the address on my account?
- How do I order checks?
- How does Overdraft Privilege work?
- Is my account Federally insured?
- Can I refinance my loan at LOC?
- What is a wire transfer?
- Do you have a coin machine?
- Does the credit union have notary service? Is there a charge?
- How do I link to online financial services like Quicken or Mint.com?
- How do I get an ATM or Visa Check Card?
- Can I select my own PIN for my Visa Check Card or ATM Card?
- Important Visa Check Card Facts
- Tips for Responsible ATM and Visa Check Card Use
- My ATM or Visa Check Card is lost. How do I get a new one?
- What services are available at Family Service Centers?
- How do I purchase or redeem US savings bonds?
What is LOC’s routing number?
A routing number is a 9-digit code on checks that identifies the financial institution. This code is used to process direct deposits and other electronic transfers through the Automated Clearing House (ACH).
To authorize a third party to deposit or withdraw funds to and from checking you need both the routing number and your full 12-digit account number.
LOC Federal Credit Union's Routing Number is: 2 7 2 4 7 9 8 1 2
Your Account # _ _ _ _ _ _ _ _ _ _ _ _
This should be a 12-digit number beginning with 71047, your five-digit account number, then two more numbers. Use the account number from the bottom center of your credit union personal checks. If you don't have checks, contact Financial Services for the correct checking account format.
To authorize a third party to withdraw or deposit funds to savings, please contact Financial Services for the correct savings account format.
LOC recommends that you monitor your account activity regularly for accuracy.
How do I join the credit union?
Membership is open to anyone who works, worships, lives, volunteers or attends school in Livingston County or Southwest Oakland County.
Immediate family members of a Credit Union member are eligible for membership of the Credit Union. Immediate family member is defined as a spouse, child, sibling, parent, grandparent, or grandchild. This includes stepparents, stepchildren, stepsiblings, and adoptive relationships.
Membership is also open to anyone who has an immediate relative who is eligible for membership or shares a household with someone who is currently an LOC member or eligible for membership.
To become a member, a minimum deposit of $5 in a savings account is required.
Apply online or by mail, but we require new members come into an LOC office to sign and present current government-issued identification before we open the account. If eligibility is based on where a member lives, the ID must reflect that eligible address. Proof of employment, attendance, membership or relationship to a current member may be required if that is how the member is eligible to join.
Where do I mail my deposits or loan payments?
Any of our offices will accept your payments and deposits by mail. Our main office in Farmington processes most of the mail. The address is:
LOC Federal Credit Union
22981 Farmington Rd
Farmington, MI 48336
Send Visa Platinum credit card payments to:
FIS Remittance Center
PO Box 4521
Carol Stream, IL 60197-4521
The physical address for Visa credit card payment OVERNIGHT SHIPMENTS ONLY is:
FIS Remittance Center
2400 Ogden Avenue Ste 120
Lisle, IL 60532
How do I change the address on my account?
Any account signer may change the address on an account, beneficiaries may not. Original signatures and proof of identity are necessary; no changes by fax, phone or email. To change the address by mail, please print this address change form and enclose a photocopy of your driver's license to confirm identity. If there are any questions, we will contact you by the phone number or email currently on file.
Please make every effort to keep your address current with LOC. Whenever mail is returned to the credit union, we stop all future mailings until we hear from you. If the returned mail or Post Office notification is a statement, the account will be charged an outdated statement address fee.
How do I order checks?
First time check orders must be in writing – by fax, mail or in person. Reordering checks may be done through Harland Clarke by phone, 877-585-8777, online at reorder.libertysite.com, or through the Check Reorder link in Home Banking. The starting check number for the next box is required and no change of name or address is permitted. Reordering checks with name or address changes may be done by phone with a Financial Services representative at 1-800-837-4562, by fax at 248-473-9960, or by mailing in your corrected reorder form.
How does overdraft privilege work?
Overdraft privilege provides up to $750 in the checking and up to $300 in the regular savings; that amount is reduced by any applicable overdraft fees.
An account goes into overdraft privilege when an item is drawn on an account that is greater than the available balance in the account plus the balance in any other overdraft accounts or loans. An exception is when the overdraft is triggered by an ATM or Bill Pay transaction. ATM or Bill Pay funds must be available in a single account and cannot combine to clear an overdraft.
A member must "opt in" to overdraft privilege protection for debit card purchases. A signed form must be on file before that option is activated. Business accounts are automatically "opted in" for debit card purchases. No special permission is required.
We are unable to transfer funds from sub savings accounts, money fund accounts or Christmas Club accounts to clear overdrafts. Only the regular savings and Moneyline line of credit loan serves as overdraft protection for the checking. Only checking serves as overdraft protection for the regular savings. Available overdraft funds cannot combine with overdraft privilege funds to clear an item.
LOC Federal Credit Union will pay overdrafts within the overdraft privilege limits, but payment is a discretionary courtesy and not a right of the member or an obligation of LOC Federal Credit Union. We are not obligated to pay any item, or to provide prior notice of our decision to refuse to pay an item.
If the member has overdraft privilege protection, the item(s) will be paid up to the limit of the protection plan and the account will be charged an overdraft fee per incident. The overdraft amount and the fee(s) must be repaid within 30 days from the date of overdraft.
Once an account goes past 30 days negative collection efforts begin, and overdraft privilege is taken away. If the amount is not fully paid within 45 days from the date of overdraft, the account will be charged off. At this point the member will have caused a loss to the credit union and may not qualify for certain services provided by LOC. The account is also reviewed for possible legal action. A lien may be placed on all accounts that the main and joint signers have with LOC.
Is my account Federally insured?
The National Credit Union Administration (NCUA) is an independent agency of the United States Government. The NCUA regulates, charters, and insures the nation's federal credit unions and some state chartered credit unions that desire federal insurance and qualify for it. Credit unions are banking institutions owned by the members to whom services are available. Regular savings and checking accounts are insured up to $250,000 through December 31, 2012, and IRA accounts are insured up to $250,000. Use the NCUA Insurance calculator to estimate your coverage.
What is a wire transfer?
Wire transfers are electronic transfer of funds; usually involving large dollar payments. Call for our wire transfer instructions before wiring money into LOC; intermediate corporate credit union information must be included. Ask the receiving financial institution for their wiring instructions before wiring out of LOC. They may also use different information than what is needed for other electronic payments.
Do you have a coin machine?
We have a coin machine available for members at our Farmington office. Dump your loose change in the top tray and the machine counts it, ejects foreign coins and prints a receipt of how much you put in. There is no charge for this service if the money is deposited to a child's or teen's account and a 5% charge to adults 18 and over (still less than the machine at the grocery store.)
Does the credit union have notary service? How about signature guarantees? Is there a charge?
Yes, LOC has a notary public available and staff trained to provide signature guarantees for stock transfer amounts up to $100,000. The service is provided free of charge to members and no appointment is necessary.
How do I link to online financial services like Quicken or Mint.com?
As of June 1, 2010, our data processor no longer allows third party processors to link to your account information on Home Banking. They are legally responsible for your account security and lately there have been too many breaches of insecure third-party computer systems. You will not be able to link your LOC account to Mint.com or use Quicken to initiate your account download.
You can download your account information into Quicken by logging into Home Banking first and then clicking the "Download to Quicken" at the bottom of the account history page. The information is sent as an encrypted file directly from our data processor to your home computer, with no third parties involved.
Can I refinance my loan at LOC?
If you have a higher rate loan at another financial institution, you can refinance that loan at LOC.
How do I remove a deceased owner from an account?
The staff at LOC Federal Credit Union is very sorry for the loss of your friend or relative, and we are anxious to assist you in handling the deceased owner’s account. Here is some information that will make the process simpler:
- Obtain a certified copy of the death certificate. We will make our own copy but we need to see the original.
- If the deceased had a loan with LOC Federal Credit Union, we will file for any Credit Life Insurance benefits available once we have a copy of the death certificate. This optional insurance was offered at the time the loan was made.
- Please discuss with us any issues regarding repayment of any loans with LOC Federal Credit Union — for example, does the surviving spouse or co-signer need a payment extension before resuming regular payments?
- We recommend leaving the deceased party’s deposit account open for about six months, then we will ask you to close it.
- If there are no joint owners or beneficiaries named on the account, we must rely upon instructions issued by the probate court. If you do not wish to open probate, other steps may be necessary before the account can be closed. Contact a Financial Services representative.
- We will be happy to assist you in planning investments that may be the result of life insurance policy payouts or other bequests and may recommend a no-fee visit with Erik Gotaas, our Financial Advisor.
There are many issues to be dealt with and not all of them are covered here. Please contact us whenever we may be of assistance: 1-800-837-4562.
How do I get an ATM or Visa Check Card?
We require a signed application and a credit report will be run. Any teller or Financial Services representative can help you. We can send the application by mail or you can download it from our website.
Can I select my own PIN for my Visa Check Card or ATM Card?
We are unable to produce a card with the PIN of your choice, but after the card is received you may bring it (them) into any LOC office and change the PIN for a $2 fee. Any signer on the account can bring in the cards and change the PIN. Once the PIN is changed, we will do our best to produce any reissued cards with your chosen PIN. Always test any new cards to make sure your PIN is still working.
Important Visa Check Card Facts
- The amount of your purchase is deducted from your checking account automatically — be certain you have adequate funds at the time of purchase.
- Car rental companies may require a credit card in order to reserve a car but you may pay for the rental when you return with your Visa check card.
- To meet consumer demand for payment conveniences such as express checkout at hotels, pay-at-the-pump fueling, and one-swipe payment at restaurants, Visa has established processes to protect Visa check card issuers, merchants, and cardholders. Similar to how check deposits can’t be immediately withdrawn, account deductions can’t immediately be cleared when the final amount isn’t known. For example, you may use your Visa check card at a restaurant and your card gets authorized before the tip is applied. For these types of purchases, Visa check card issuers may earmark cardholder funds to cover the estimated cost of the transaction. This process, known as a hold, safeguards both cardholders and merchants, ensuring cardholders don't spend more money than they have and merchants are paid for the transaction. While most transactions have a less than 24-hour hold, Visa protects cardholders by requiring issuers or financial institutions to remove all holds within 72 hours.
- You could be charged two fees when you use your card to withdraw cash at an ATM that is not part of the Co-Op Network, one by LOC and one by the ATM owner.
- There is no charge to get cash back when you check out at a register using a PIN. It also doesn't count as one of your four free withdrawals. Stores have different cash back limits. Ask the cashier what is available.
- Your Visa check card has a daily PIN-based cash withdrawal limit of $500, and a signature-based spending limit of $1,000 per cycle if you are 18 and over. These spending limits are meant to protect you in case your card is stolen. Your card may be declined if you make daily purchases that exceed your daily withdrawal limit, even if you know you have plenty of funds within your checking account. Please contact LOC to temporarily increase your signature-based spending limit to make certain purchases or to ensure that your card is not declined while away from home. The PIN-based limit can not be changed.
Tips for Responsible ATM and Visa Check Card Use
- Know your current account balance. Don’t forget about checks or automatic withdrawals that have not yet cleared your account.
- Always take sales receipts and carbon copies.
- Record your transactions in your check register as soon as possible. Remember to include any withdrawal or inquiry fees that may apply. Store your receipts safely in one place in case you need them later.
- Review your statements carefully. If you suspect a mistake, call LOC immediately. You may be asked to follow up with a confirmation letter.
- If your card is lost or stolen, contact LOC immediately. This reduces your liability if fraud losses occur.
- Choose a unique PIN. Avoid obvious choices such as your address, phone number, or birth date.
- Keep your PIN private. Memorize it. Don’t write it down or write it on your card, and never tell it to anyone.
My ATM or Visa Check Card is lost. How do I get a new one?
Call and report the lost or stolen card immediately. You could be responsible for some fraudulent activity if the loss is not reported promptly. Please contact or visit Financial Services to order a new card. We will go over your account history to make sure there are no fraudulent transactions. The new card will arrive in 1-2 weeks and will have a new PIN number.
What services are available at Family Service Centers?
These services are available at most CU Service Centers:
- Deposits and loan payments
- Check cashing (up to $750 in cash)
- Cash and check withdrawals (up to $750 in cash)
- Transfers between accounts within the same member number
- Basic account information
- Money orders up to $1000, $2 each
- Official checks - first one $1, additional ones $3
- Notary services at $5 per notarized signature
CU Service Centers do not open accounts or accept loan applications. Also, their policies and procedures may be different than at LOC branches. Members must complete a deposit or withdrawal slip. There may be holds on certain types of checks.
To take advantage of these services, you need to bring:
- Your home credit union's name
- Your account number
- Valid government-issued photo identification, i.e., State Driver's license, US Passport
These services are not available:
- No wire transfers
- No LOC Visa advances
- No Visa credit card payments
- No IRA transactions
- No Moneyline advances
- No Home Equity advances
- No traveler's checks
Some other Service Center services include:
- Copies (voucher, cleared checks, SCC Official Checks) - $3
- Research fee ($5 minimum) $25/hour
- Stop payments on SCC checks - $20
- Photocopy - first free then $.25 a page
- Fax Service - Receiving all countries - $2 first page, $1 additional pages; Sending US and Canada - $3 first page, $1.50 additional pages; Sending all other countries - $5 first page, $3 additional pages
- Check cashing service for non-members - once approved through screening process, member can cash government checks made payable to the client only, income tax refund checks (if payable to two parties both must be present with ID), US Treasury checks and do the following
- Maximum cash back is $750, some situations up to $1500
- Up to two free money orders when cashing the first check. Additional money orders are $2
- The check cashing fee is 3% of the amount of the check. Checks less than $166.50 are charged a minimum of $5
How do I purchase or redeem US savings bonds?
Sales of paper Savings Bonds ended on December 31, 2011. An online account can be used to purchase electronic ones. Here's the link to Treasury Direct. Click on the EE/E Bonds link for EE Bond rates and information. Click on the I Bond link for I Bonds. Your online account can be used for one-time or recurring purchases.
You are welcome to redeem your paper Savings Bonds at LOC. You may not cash savings bonds until they are one year old. There is a three month interest penalty if cashed before five years. It takes about eighteen years for EE bonds to reach face value (they cost half the face value to purchase) and they now offer a guaranteed rate of return. The day the EE bond reaches face value is what most people call the maturity date. But both EE and I bonds earn interest for thirty years, so the bonds at final maturity will be worth more than their face value.
I bonds cost the same as face value so a $50 I bond costs $50. EE bonds are purchased for half face value so a $50 EE bond costs $25. I bond and and EE bond denominations are $50, $75, $100, $200, $500, $1,000, $5,000 and $10,000. I bonds are also available with a $25 face value.
If savings bonds are purchased in the parent's name and cashed to cover college costs for the child, the interest earned on the bonds is tax-free. See the TreasuryDirect website for details.
