University of Michigan Credit Union

UMCU News & Updates continued

Money Orders

Our 3rd party money order provider has discontinued their services and can no longer provide the supplies necessary to create them. As a result, UMCU has decided to discontinue offering this service effective July 10th, 2008 (or until current stock is gone). We encourage you to use Cashier's Checks, which can be obtained for the same $1.50 price and can be purchased at any one of our offices. In the event that a money order is necessary, please keep in mind that money orders can be obtained from the following retail locations: Kroger ($0.59), Meijer ($0.69) and USPS ($1.05). If you have any questions please call our Member Service Phone Center at 734-662-8200 or 800-968-8628.

Our continued commitment to you

At the University of Michigan Credit Union we are dedicated to building and maintaining life-long relationships with you, our member. Your
opinion matters and helps us to provide you with the best products and services available.

To truly understand your financial needs, we are asking for your participation. Beginning April 1st, UMCU will be calling members asking to hear your thoughts about UMCU and how we can make it better.

What do you like about UMCU? What do you like better about another financial institution?

Help us help you and offer us some feedback. It's your opportunity to let us know how we can make your credit union even better.

Please keep in mind that:

These calls will only be used to understand what we can do for you.

At no time, will a representative ask for your account information.

If someone were to contact you requesting your account information, they are not your credit union. It is a scam and we ask that you contact us immediately; to alert us of the situation.

Visa International Service Assessment fees are changing

Effective April 1, 2008, Visa is assessing a new fee for cardholders who use their cards in countries outside the United States where purchases can be made using the U.S. dollar.

Previously, Visa only charged the International Service Assessment (ISA) fee on international transaction that involved currency conversion. With this change, however, Visa will now charge an ISA fee on all international transactions regardless of whether there is a currency conversion.

If there is no currency conversion (a "single-currency transaction") the ISA fee is 0.8% of the transaction amount; if there is a currency conversion (a "multi-currency transaction") the ISA fee will continue to be 1% of the transaction amount.

An international transaction as a transaction where the card-issuing financial institution's country is different from the merchant's country. Thus, a transaction over the Internet could qualify as an international transaction.

Both the 1% and the 0.8% ISA fees will be reflected on your account statement as an International Fee. UMCU will not apply any additional fees for these international transactions. If you have any questions please call our Member Service Phone Center at 734-662-8200.

Do you have direct deposits or automatic payments posting to your accounts?

When providing your account number for direct deposits or automatic payments posting to your UMCU accounts, please make sure you are using the 10 digit electronic account number assigned to each of your accounts. This will ensure that withdrawals and deposits will post to your account correctly and without delay. The Credit Union may be unable to process transactions that do not use the electronic account number.

Each savings, checking, and loan account has a separate electronic account number. To obtain your electronic account numbers, you can

1. Log in to MemberNet Online Banking and click on the “Electronic Acct Number” link on the left side of the page OR
2. Contact our Member Service Phone Center at 734-662-8200 or 800-968-8628.

Thank you for helping us to serve you better.

New feature in Bill Payment

Beginning Wednesday, April 2, 2008 an Expedited Payments option will be available through UMCU's Bill Payment service. The Expedited Payment feature will allow funds to immediately be withdrawn from your account and sent to the payee electronically for receipt on that same day (assuming the payment is initiated before the payee's cut-off time). This option can be used to deliver a payment faster than other payment delivery option. For only $9.95 you can experience this new option. A single debit for the combined total of the payment and the fee will post to your account.

This option is not available for all merchants and will only be offered when a payment can be routed prior to the merchant's daily posting cut-off time. This option can't be used if the merchant only accepts payments via paper check.

The Expedited Payment guarantee protects you if a properly scheduled payment is delayed for any reason.

Give your teen the financial edge!

Sign him or her up now for one of our summer Independent Edge financial education classes for teens 16-18.

Tips from the Budget Guru

Learn the tricks to financial survival with a Kathryn Greiner class. Click here for more information.

Need help with your retirement planning?

Financial advisors at UM Credit Union Wealth Management can help you organize, understand, control and accumulate your wealth. Click here to learn more.

Cedar Point and King's Island tickets are on sale now!

Discounted Cedar Point and King's Island tickets are now available. Visit any lobby teller window and discover the savings today!

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