University of Michigan Credit Union

Frequently Asked Questions for Students

What do I need to open an account?
Can I open just a checking account?
How do I order checks?
Can my friends or family who are not members on my account at UMCU make withdrawals or deposits into my account?
I just opened my account. Why are checks that I have deposited being placed on hold?
Will there be holds placed on deposits through the ATM?
Where are your ATMs located?
Is there a fee for using the ATM?
Can I change my ATM PIN at an ATM?
Can I use my ATM card in other countries and states?
What is the difference between a Visa check card and a Visa debit card?
When will I get my Visa check card?
Can I select my own check card PIN through the mail?
What should I do if I lose my Visa cards or CU24 ATM card?
When and how will I receive an answer on my Visa credit card application? How long before I get my card? If I'm not approved, how will I find out?
How do I wire funds to my account?
How do I wire funds from my account to other financial institutions?
Do you have free online banking?
Do you have online bill payment services?
Can I transfer funds to accounts at other financial institutions through your online banking?
I applied for MemberNet online banking. How will I get my password? How long does it take?
Can I have my paycheck automatically deposited to my credit union account?
What are Credit Union Family Service Centers and where is the closest one?
Do I have to close out my account if I move out of state?
If I have any other concerns or questions who should I call?
Can I authorize UMCU to give my parents information about my account without having them joint on the account? How do I do this?
Can I have my statement mailed to my parents' address?
When I move home for the summer will you automatically change my address from my dorm address to my home address?
How long will it take for my checks to arrive in the mail?
If my address changes before I receive my Visa check or credit card in the mail, will the card be forwarded to my new address?
Will I receive my PIN with my Visa check card?
Can I get a higher credit limit than $1,000 on my Visa card?

What do I need to open an account?

M-Card (or other proof of membership eligibility)
U.S./foreign passport, U.S. driver's license, or U.S. state ID
Current address (physical & mailing)
$10 to open a Share Savings account (includes a $5 membership fee; $5 minimum balance) - A required account
Additional $25 deposit to open a Basic Checking account (optional)
Additional $50 deposit to open a SelectChecking or Interest Checking account (optional)

Can I open just a checking account?

No. At UMCU, opening a Share Savings account (with a $5 minimum balance plus a $5 membership fee) establishes your membership.

How do I order checks?

You can place an order for checks at any time with UMCU staff, through the website for re-orders only (no changes), or by telephone (734-662-8200). Checks can be delivered to a designated address or sent to a branch for pickup. Allow 2-3 weeks for delivery. If you do not receive your checks after 3 weeks or believe they may be lost or stolen, contact UMCU immediately to block them and order new checks. Temporary checks can be purchased at any UMCU branch for $1.00 per eight checks.

Can my friends or family who are not members on my account at UMCU make withdrawals or deposits into my account?

Only joint owners or signers on your account can make withdrawals from your account; however, anyone can make a deposit into your account. The receipt they receive will not show any of your account information or balances.

I just opened my account. Why are checks that I have deposited being placed on hold?

For the first 30 days of any new account, all checks deposited are placed on a 5 business day hold. However, certified funds (cashier's checks, postal money orders, etc.) may be exempt from this hold policy after fund verification.

Will there be holds placed on deposits through the ATM?

All ATM deposits are subject to a hold.

Where are your ATMs located?

UMCU has a number of ATMs for your convenience in the Ann Arbor area. Click here for a list.

Is there a fee for using the ATM?

If you use UMCU ATMs, there is no charge for ATM usage. The first 4 transactions each month at non-UMCU machines are free for members in good standing (those with a valid account address, no delinquent loans, and no share or loans written off due to unrecoverable payments.) After the first 4, the rest are just $1 plus any surcharge imposed by the owner of the machine.

If you use an ATM on the CO-OP Network, UMCU will still charge a $1.00 fee, but the CO-OP ATM will not charge a fee. Click here for a list of CO-OP Network ATM locations and hours.

Can I change my ATM PIN at an ATM?

No. You can only change your PIN at a UMCU office after your identity has been verified. You do not need to know your current PIN to reset or choose a new PIN.

Can I use my ATM card in other countries and states?

Yes, but the systems in other countries vary and your check card may not work. Also, in other countries your ATM/check card will only access your checking account. Finally, you can only make a deposit through an ATM in the state of Michigan.

What is the difference between a Visa check card and a Visa debit card?

Visa Check Card and Visa Debit Card are different terms for the same card. This card works like a regular credit card, except that purchases you make using your Visa check card are deducted directly from your checking account. The Visa debit/check card is accepted worldwide wherever Visa is accepted. You can also use it at any ATM to withdraw cash from your savings or checking account at an ATM.

When will I get my Visa check card?

Your Visa check card will arrive 2 to 3 weeks after you have opened your account and applied for it. For security purposes, your personal identification number (PIN) is mailed separately a few days later.

Can I select my own check card PIN through the mail?

No. PINs for check cards are computer-generated. Once you receive your card you can bring the card to any UMCU office and change the PIN.

What should I do if I lose my Visa cards or CU24 ATM card?

Call UMCU immediately and report the loss (734-662-8200 or 800-968-8628). If you lose your Visa check card or Visa Classic or Visa Platinum credit card and the credit union is not open, call 800-991-4965.

When and how will I receive an answer on my Visa credit card application? How long before I get my card? If I'm not approved, how will I find out?

If you are approved, we will normally contact you by phone or email. You should receive your Visa Classic credit card between 2 to 3 weeks after you've been approved. If you are not approved, you will receive a letter letting you know the reason for the denial.

How do I wire funds to my account?

Click here for the specific instructions on how to wire funds. If you want the funds to go into your checking account, include the 10 digit MICR number seen on the bottom middle of UMCU checks. For your Share Savings account, use your five digit account number.

How do I wire funds from my account to other financial institutions?

You can wire the funds from any of our UMCU branch locations. Wire transfer instructions can also be faxed to our Member Service Phone Center (Fax# 734-996-4522). Wire transfers occur only when the Federal Reserve is open, so wires cannot be sent on weekends and federal holidays. There is a $15 flat fee for wires sent within the United States, and a $30 flat fee for any wires sent overseas.

Do you have free online banking?

Yes. Once you have applied for our MemberNet® online banking service, a case-sensitive password will be mailed to you within 5 to 7 business days.

Do you have online bill payment services?

Yes. Once you have access to our MemberNet ® online banking service, you can set up free online bill payment. Bill Pay is an option on MemberNet ®.

Can I transfer funds to accounts at other financial institutions through your online banking?

No. You can come into any UMCU branch location and wire the funds for a fee; however, if you have multiple accounts here at UMCU, you can make transfers among those accounts without a fee.

I applied for MemberNet online banking. How will I get my password? How long does it take?

Log-in instructions with your password will be mailed to you 5-7 days after you apply. If you forget your password, you can come into any UMCU branch before 5:00 p.m. to have your MemberNet ® password reset .

Can I have my paycheck automatically deposited to my credit union account?

Yes. Ask your employer whether they offer Direct Deposit services. If so, you will need our routing number (2724-7654-3) and either the 10 digit MICR number (found at the bottom middle of your UMCU checks) or your five digit Share Savings account number.

What are Credit Union Family Service Centers and where is the closest one?

Credit Union Family Service Centers comprise a shared branching network that allows credit union members (including UMCU members) to make transactions at multiple locations in Michigan, Maryland, and Virginia. Click here for all Service Center locations.

Do I have to close out my account if I move out of state?

Absolutely not...with MemberNet ® online banking, TellerPhone, Visa check card, Visa credit card, eStatements, etc., you can take the credit union with you wherever you go. You can apply for loans online or by phone using our 24-hour toll-free loan application service called Any Hour Loan . Access your account surcharge-free at CO-OP Network ATMs throughout the U.S. Once a member, always a member.

If I have any other concerns or questions who should I call?

Our Member Service Phone Center. The number is 734-662-8200 or 800-968-8628. The hours are 7:30 a.m. to 6:00 p.m. Monday to Friday and 9:00 a.m. to 2:00 p.m. on Saturday.

Can I authorize UMCU to give my parents information about my account without having them joint on the account? How do I do this?

Yes. Send written authorization including the name of your parent(s) and your account number giving us permission to share your account information with them. Bring it to any office or mail it to: UMCU, Attn: Member Service Center, PO Box 7850, Ann Arbor, MI 48107.

Can I have my statement mailed to my parents' address?

Statements are mailed to the address you provided when you opened your account. If that is your parents' address, then your statement, Visa check card, Student Visa card, and any other correspondence from the credit union will be mailed there.

When I move home for the summer will you automatically change my address from my dorm address to my home address?

No. You will have to authorize the change of address. You can stop by any office location, mail a signed written request, or use MemberNet ® online banking to submit the change of address.

How long will it take for my checks to arrive in the mail?

Once you place a check order, it will take between 2-3 weeks to receive your box of checks in the mail. If you do not receive them please contact UMCU at 734-662-8200 or 800-968-8628 to place a stop payment and reorder your checks.

If my address changes before I receive my Visa check or credit card in the mail, will the card be forwarded to my new address?

No. Unfortunately the post office is not allowed to forward any credit or debit cards. The card will be returned to UMCU and we will send you a notice asking you to come in to pick up your card. If you do not receive your card and you have questions, please contact the Member Service Phone Center 734-662-8200 or 800-968-8628 for assistance.

Will I receive my PIN with my Visa check card?

No. You will receive your PIN in a separate envelope from your Visa check card. The PIN is usually received about one week before the card. If you do not receive your PIN, bring in your Visa check card to any branch location and you can select your own PIN.

Can I get a higher credit limit than $1,000 on my Visa card?

Initially, your limit is $1000. You can apply for an increase on your Visa Classic card by submitting a new application. Your application will be reviewed by a loan officer and you will be contacted with the decision within 24-48 hours. Note: students with no credit history will have to wait one year before reapplying.

Student Members