What do I do if I forget my password?
You need to call or stop into our office and have your password reset to your default password. For your security, we can not accept request by fax or email, you must stop in to our office or call.
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I activated my online banking account several months ago, but now my password won't work?
If you do not use your account for more than 90 days, your online account is deactivated, and you must sign-on as a new user. Enter your account number and primary member's social security number for your password, and then assign a new password.
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How do I know the site is secure?
Look for the locked padlock at the botton of your computer screen to ensure you've entered a secure site. The same company that provides MCLFCU's data processing system provides online banking, therefore they're highly experienced in security.
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What if I don't want online access enabled on my account because I never plan to use it, and I'm concerned about fraud?
We want you to rest assured that your account is secure, so simply contact the credit union and we will deactivate your online account access completely. If you ever wish to activate the account online you'll have to come into the credit union and present identification to get it reactivated.
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Will I be charged to pull-up statement history?
No, but it will only go back to a certain date, based on the level of activity on your account. If you wish to pull up statements from previous months or years, sign up for our e-statement program.
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My online banking session keeps timing out when I'm viewing transactions. Can I stop it from doing that?
No. For security reasons there is a ten minute time-out feature. However, if you simply want to view one screen for a long period of time (such as a share draft transactions screen), once your session expires, you may click on the "Back" button on your browser and this will take you back to the most recently viewed screen. However, if you wish to go to another screen or complete a transaction you must sign back in.
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What is the difference between the transfer button and transfer to other button?
The transfer button enables you to transfer funds between your accounts. The transfer to other button enables you to transfer to another MCLFCU member's account, but you must know the account number and type you wish to transfer to.
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What’s a Credit Union?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.
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Who owns a credit union?
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.
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How did credit unions start?
The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary's Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.
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What is the purpose of a credit union?
The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.
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Are savings deposits insured?
Yes. All savings accounts are insured up to at least $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government.
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Who can join a credit union?
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or economic group.
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