Frequently Asked Questions > Checking & Savings

Checking

Can a check clear my account while funds are on hold?
How does overdraft protection work?
What is the $5 service charge?
What's the difference between free checking and interest checking?
What happens if I change from interest checking to free checking?
What is a POS transaction?
What is the difference between a POS transaction and other transactions?
What is uTransfer?
What should I do if I suspect fraud on my account?
What should I do if I have lost my checks or if I suspect they have been stolen?
Are my funds insured?
How do I add or remove a joint from my account?
What happens if I bounce a check?
What happens if there are not enough available funds in my account to cover an ACH?
How do I stop payment on a check?
What is your check hold policy?

IRAs

How do I make an IRA contribution?
How do I make an IRA withdrawal?


Checking & Savings

Q: Can a check clear my account while funds are on hold?
A: If you have a hold on funds in your account, these funds are not available for any kind of withdrawal (including VISA check card purchases and check clearing). If there are not enough funds available to cover a check, any available overdraft protection will be used. If there are no overdraft funds available, the check will be returned.
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Q: How does Overdraft Protection work?
A: If there are not enough available funds in your checking account to cover a check, funds will be automatically transferred from your savings and lines of credit (when applicable) to cover the check.

Unitus members with accounts in good standing can enjoy Courtesy Pay, which covers a maximum overdraft amount of $100 (within the first 30 days an account has been opened) or $300 thereafter.

You can also rely on a line of credit to provide overdraft protection to your Unitus account. You can apply for a line of credit online by visiting the Loans link, clicking on the Additional Loans link, and then selecting Loan Application. You can also give us a call at (800) 452-0900!

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Q: What is the $5 "service charge?"
A: If a member has an interest checking account, there is a required minimum balance of $500 to avoid a monthly service fee (unless you're 50 or older). If the checking balance is below $500 at the end of any business day during the month, a $5 service charge will be assessed at the end of the month.

If you are 50 or older, you can sign up for our Optima Club and enjoy the benefits of optima checking. Optima checking is an interest-bearing checking account with no minimum balance.

There is no monthly service fee for free checking.

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Q: What's the difference between free checking and interest checking?
A: A: Free checking accounts do not accumulate interest and do not have a minimum balance requirement. Interest checking accounts earn interest with a required minimum daily balance of $500 (to avoid service fees). When members open an interest checking account, they receive OnLine Bill Pay free of charge.
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Q: What happens if I change from interest checking to free checking?
A: Nothing changes, except for the fact that you are moving from an interest-bearing account to a non-interest bearing account. A change from interest checking to free checking will not affect your VISA check card, nor will it affect your access to checking account history online.
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Q: What is a POS transaction?
A: A POS or "Point of Sale" transaction is a purchase made with your VISA check card and you are required to enter your PIN on a keypad. POS transactions post to your account immediately. On your statement, a POS transaction will show the amount and the address (and sometimes) the name of the merchant.
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Q: What's the difference between a POS and other transactions?
A: A POS transaction requires that you key the PIN on a keypad at the cash register. It also posts immediately to your account. A VISA check card charge, or debit charge, either generates a receipt for you to sign, or is a transaction done over the phone or online. VISA check card transactions do not post immediately to the account, but the funds from the transaction are on hold (unavailable) until the charge posts.
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Q: What is uTransfer?
A: uTransfer is an online tool members can use to transfer money from one institution to another.
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Q: What should I do if I suspect fraud on my account?
A: If you suspect fraud on your account, immediately contact Unitus. If the suspected fraud involves your VISA check or credit card, you may block the card at any time by calling (800) 452-0900 or (503) 227-5571 and following the prompts for reporting a lost or stolen card. For follow-up purposes, you can call Unitus during regular business hours to complete the report.
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Q: What should I do if I have lost my checks or if I suspect they have been stolen?
A: Please contact us immediately to protect your account.
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Q: Are my funds insured?
A: Deposited funds at Unitus are insured with the National Credit Union Administration (NCUA), a US Government Agency. Regular accounts are insured for up to $250,000; IRA accounts are insured separately for up to $250,000. Please contact Member Services for information regarding multiple account holders.
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Q: How can I add or remove a joint from my account?
A: To add or remove a joint from your account, you will need to complete a Membership Application with the updated information. Please call or email us to receive a membership application.

You will also need to have each individual who will be on the account sign the application and each new individual must provide proof of ID. Be sure to make a copy of the front and back of your ID!

Then simply mail or fax the application back to us at Unitus Community Credit Union, PO Box 1937, Portland, Oregon 97207-1937 or fax us at (503) 471-3345.

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Q: What happens if I bounce a check?
A: If a check is returned due to non-sufficient funds, a $26 fee is assessed. The processing institution may present the check a second time (depending on their policy). Please note that not all financial institutions present checks twice.
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Q: What happens if there are not enough available funds in my account to cover a uTransfer activity?
A: uTransfer is a member-initiated transfer, unlike OnLine Bill Pay. The member has to set up a withdrawal from another financial institution to deposit into their Unitus account or schedule a withdrawal from their Unitus account to go to another financial institution.

uTransfer is a free service provided to each and every member of Unitus Community Credit Union.

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Q: How do I stop payment on a check?
A: A: A stop payment can be placed online by calling (800) 452-0900 or by logging onto uOnline, selecting Services, then selecting Stop Draft Placement. The fee to stop a payment on a check is $26.
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Q: What is your check hold policy?
A: Check holds are placed on a case-by-case basis. New accounts--those that are 30 days old or younger--will only receive the first $100 of their deposits if a check hold is put in place. The rest of the funds become available on the eleventh day.

When a deposit is made into an ATM, any funds over $1,000 (or $100 for a new account 30 days old or younger) are placed on hold for five business days.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make deposit before 5:30 p.m. M-TH, 6:00 p.m. Friday on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 5:30 p.m. M-TH, 6:00 p.m. Friday or on a day we are not open, we will consider the deposit made on the next business day we are open.

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IRAs

Q: How do I make an IRA contribution?
A: Contact Unitus for forms (please designate the type of IRA, such as a ROTH, Traditional, Coverdell Education Savings or SEP IRA) to be faxed or mailed. You can fax or mail the completed forms back to Unitus. You can also set up direct deposit so that a portion of your deposit goes directly into your IRA. Payroll must be set up on your regular account number and Unitus must have your completed contribution forms prior to setting this up. If you want to change the amount being deposited to your IRA, new forms must be completed. Please note that IRA contributions cannot be retroactive.
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Q: How do I make an IRA withdrawal?
A: Contact Unitus">Contact Unitus for forms to be faxed or mailed to you. Once completed, you can fax or mail back the form to us. If you live in Oregon, a State Tax Withholding form will be sent in addition to the forms. If you do not live in Oregon, we will not withhold state tax from your withdrawal. The standard Federal Tax amount that is withheld is 10% of the withdrawal (or more if desired).
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