About ISUCU

ISU Credit Union now serves everyone who lives or works in McLean County.


ISU Credit Union was founded in 1960 to serve employees of Illinois State University. We now serve more than 10,000 of your closest friends and neighbors who live or work in McLean County.


We are committed to offering excellent member service, excellent rates and no or low fees. There are NO hidden membership fees or deceptive relationship plans. We deliver personalized member service while offering you all the convenience that modern technology can bring.


Credit unions, like other financial institutions, are closely regulated. They operate in a very prudent manner. The National Credit Union Share Insurance Fund (NCUSIF), administered by the NCUA, an agency of the federal government, insures deposits of credit union members at more than 11,000 federal and state-chartered credit unions nationwide. Deposits are insured up to $250,000.


What makes a credit union different from a bank or savings & loan?


In the United States, credit unions are not-for-profit organizations that exist to serve their members rather than to maximize corporate profits. Like banks, credit unions accept deposits and make loans.Like credit unions, these financial institutions accept deposits and make loans,but unlike credit unions, they are in business to make a profit. Banks and savings & loans are owned by groups of stockholders whose interests include earning a healthy return on their investments. Credit unions are member owned and not-for-profit, so the people they serve are those who benefit from their financial success.


ISU Credit Union Board of Directors Click Here


ACCOUNT OPTIONS


Choose from a variety of plans that are capable of meeting all of your savings and checking needs.


SHARE DRAFT (CHECKING) ACCOUNTS


ISU Credit Union offers free checking with significant advantages over traditional programs including:
  • - No monthly fees
  • - Free checks to members age 62 and over
  • - 24 hour access to your account online or using telephone teller
  • - Additional access with your ISU Credit Union Check/Debit Card allows you to make purchases, which will be deducted from your checking account and allows the withdrawal of cash from ATMs
  • - Debit card carries the VISA symbol

SHARE ACCOUNTS


All ISU Credit Union members are required to have a savings account with a $25 minimum balance. Dividends are paid monthly and computed on your average daily balance.


CHRISTMAS CLUB ACCOUNT


This account is a non-withdrawal account and earns the same dividend rate as the regular share account. Dividends are paid monthly and computed on your average daily balance. Funds are automatically transferred into your regular share account in mid-October.


SPECIAL PURPOSE ACCOUNTS


Any number of accounts may be opened for different purposes: taxes, vacation, summer expenses, etc. This account has the same policies for dividends as the share account.


Top

VISA CREDIT CARDS


There is no annual fee for any ISU Credit Union VISA credit card. The primary borrower may qualify for valuable Credit Life / Disability Insurance.


VISA CLASSIC

- 12.9%, 14.9%, 16.9% APR The rate you will be offered is based on your individual credit worthiness.


VISA PLATINUM

· 9.9% APR

* Rates effective as of October 26, 2009 and are subject to change.


CONVENIENCE SERVICES

HFS ONLINE BANKING


You can access your ISU Credit Union accounts 24 hours a day, 7 days a week using a computer with Internet access.


Online banking gives you the freedom to:
  • - View your monthly statements
  • - View and print your account transactions, including deposits and cleared checks
  • - Transfer funds between your primary and joint accounts and to related accounts
  • - Transfer loan payments
  • - Download account information into your personal financial software

DIRECT DEPOSIT


If you are an employee of ISU, or are employed with a company that can originate direct deposit, you qualify to direct deposit your paycheck(s) into your credit union account.


PAYROLL DEDUCTION


As a member, you can direct the money from your paycheck into any of your accounts or the account of any member.


Top

AIME PHONE BANKING


Our audio response service lets you complete credit union transactions by simply dialing a phone number 24 hours a day. Please contact our office to activate your PIN before dialing 451-8411 to conduct transactions.


MAILED TRANSACTIONS


All transactions are posted on the day they are received. Member must request receipts for mailed transactions, they will not be sent automatically.


Through the mail, you can:
  • - Deposit to savings, checking or special purpose accounts
  • - Make loan payments
  • - Transfer between accounts
  • - Request a term share certificate

NIGHT DEPOSITORY


Located in the first lane of the drive-thru at the Center St. location and on the second floor of the Bone Student Center outside of our office. Available 24 hours a day to make deposits.


ATM ACCESS


With a CuCheck Card and a Personal Identification Number (PIN), you have access to ATMs worldwide. You have access to your savings and checking accounts to make withdrawals and transfers.


Area ATMs with no surcharge include :
  • - ISU Credit Union
  • - ISU Credit Union Lending Center
  • - Bone Student Center
  • - SF Hall of Business
  • - Prairieland Federal Credit Union (formerly Eureka)
  • - Prairieland Federal Credit Union-Hamilton Road
  • - IAA Credit Union
  • - BroMenn Medical Center, Main Lobby
  • - Kathryn Beich (resticted access)
  • - Qik N EZ (All 3 locations in Blo/No)
  • - Bloomington Municipal Credit Union

To view a map of these area ATMs, click here.


There is a $1.00 charge from ISU Credit Union for transactions through other ATMs.


ATM Network changes will occur, please check our website or ask at the credit union.


Top

INVESTMENT OPPORTUNITIES


TERM SHARE CERTIFICATES (CDs)

These are fixed-rate savings accounts with minimum balances requiring specific time commitments. Length of time ranges from 6 to 36 months. CDs have a fixed rate for the term of the investment and can automatically be renewed.


ENHANCED SHARE ACCOUNTS (Money Market)

Our version of a money market account is E-Shares. Enhanced membership is to ensure that all members receive a fair value. You receive a high-yield dividend that increases as your balance grows. You are allowed one free withdrawal per month.


IRAs

At ISU Credit Union, you can choose from several IRA plans: Traditional, Roth and Coverdell Education Savings Accounts. You'll earn competitive dividends and enjoy federal insurance up to $250,000 by the NCUA. This coverage is in addition to the $250,000 insurance on your other ISU Credit Union savings accounts.


TRADITIONAL IRA

A Traditional IRA is simply a tax-deferred retirement savings plan that can be opened by anyone with income from compensation under age 70 ˝. You enjoy tax-deferred investment growth and your contributions may be tax deductible.


ROTH IRA

When investing in a Roth IRA the money is taxed before invested, therefore the earnings are tax-free.


COVERDELL EDUCATION SAVINGS ACCOUNT

The Coverdell Education can help you fund your child's college education. Contributions can be made for the benefit of a child under age 18. Anyone may make a contribution for a child (i.e., parents, grandparents). The funds must be withdrawn by the time the child is 30.


Top

LOAN TYPES


From vehicle loans to credit lines to mortgages, ISU Credit Union can help meet your borrowing needs.
  • - Express lending program makes your next loan a click or phone call away
  • - Online loan application
  • - No prepayment penalties or fees

TITLE SECURED LOANS

ISU Credit Union offers low rates for financing new and used vehicles, boats, RVs, and motorcycles.


We are affiliated with certain dealers in town that are capable of writing auto loans for the ISU Credit Union. Anyone that is a current member or anyone that is eligible to join the credit union can stop by the participating dealers and get an automobile and financing with the credit union in one stop. Please check with the credit union for a list of participating dealers.


PERSONAL LOANS

ISU Credit Union offers competitive rates and terms for personal loans.


HOME EQUITY LINE OF CREDIT

With a Home Equity Line-of-Credit you can borrow against your home without refinancing. You can borrow up to 100 percent of your home's equity and access your line-of-credit online.


FIXED-RATE MORTGAGE LOANS

Your monthly payment is fixed for the life of the loan. So if interest rates rise, your monthly payments won't change. You can choose a 15, 20, or 30-year term. We offer a wide variety of first mortgage options.


CREDIT PROTECTION


MEMBER’S CHOICE® CREDIT LIFE AND CREDIT DISABILITY INSURANCE

This insurance premium is charged and included in your loan payment each month on the unpaid loan balance. If you have a balance on your loan and are totally disabled due to injury, illness, or in the event of an unexpected death, Credit Life and Credit Disability Insurance can help. Your loan officer can show you how. Your purchase of MEMBER’S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company, is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Group Policy for a full explanation of the terms. CDCL-903729.1-0414-0516


HOW IS A CREDIT UNION DIFFERENT FROM A BANK?


In the United States, credit unions are not-for-profit organizations that exist to serve their members rather than to maximize corporate profits. Like banks, credit unions accept deposits and make loans. But as member-owned institutions, credit unions focus on providing a safe place to save and borrow at reasonable rates. Unlike banks, credit unions return surplus income to their members in the form of dividends.

Favorable Rates and Customer Service

Fees and loan rates at credit unions are generally lower, while interest rates returned are generally higher, than banks and other for-profit institutions. Credit unions are democratically operated by members, allowing account holders an equal say in how the credit union is operated, regardless of how much they have invested in the credit union.

Membership Access

Each institution decides who it will serve. In order to join a credit union, potential members must be part of a field of membership, which is typically based on one’s employment, community, or membership in an association or organization. Credit unions serve members of modest means. Low-income credit unions provide financial services at reasonable rates in areas that are often underserved by banks.

NCUA Share Insurance Coverage

Federally insured credit unions are regulated by the National Credit Union Administration and backed by the full faith and credit of the United States government. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 increased the share insurance coverage on all federally insured credit union accounts up to $250,000.

Top