FAQs
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General
Q. What is a credit union?A. A credit union is a not-for-profit organization that is owned by its members. The primary function of the credit union is to serve its members. Credit unions focus on the needs of all their members, instead of a limited number of shareholders. All members of the credit union have equal voting rights, regardless of the amount on deposit.
Q. Why are credit unions important?
A. Credit unions give a competitive edge to the marketplace by offering favorable rates and services. In turn, they create benefits to consumers of all financial institutions.
Q. Why would I choose a credit union?
A. Most importantly, you have the ability to put your money where you want. Credit unions typically offer lower fees, higher savings rates, lower loan rates, and more personalized service. Credit unions focus on their members and return their profits to the members by giving higher savings rates and lower loan rates.
Q. Are my funds insured at a credit union?
A. All funds deposited at credit unions are federally insured up to $100,000 by the National Credit Union Administration (NCUA), an agency of the Federal Government. No member of a federally insured credit union has ever lost any money. Credit unions support the operations of the National Credit Union Share Insurance Fund (NCUSIF) by maintaining deposit with the fund equal to a percentage of their insured savings. If events occurred that caused the NCUSIF equity ratio to fall below 1%, responsibility to immediately replace the funds would lay on credit union--not the taxpayer.
Q. Who regulates credit unions?
A. The National Credit Union Administration (NCUA) regulates federally-chartered credit unions--like DUFCU. Credit unions are subject to much of the same consumer regulations as other financial institutions. In some cases, such as investments and mortgage lending, credit unions must adhere to more strict regulations.
Q. Why do I need a savings account? I just wanted a loan.
A. Your savings account establishes your membership with the Credit Union. Once your savings account is opened, you may apply for any other service or loan product we have to offer.
Q. Where do I send a pay-off?
A. Payoffs can be given to a Member Service Representative at the branch nearest you or mailed to:
DUFCUQ. What are your hours?
2200 West Main St, Suite L100
Durham, NC 27705
A. Our branches are open from 8-5 Monday-Thursday and 8-5:30 on Fridays. Drive-thru is open from 8-5:30 Monday-Thursday and 8-6 on Fridays. All Funds Express ATMs allow you to make deposits, withdraw cash, transfer funds, make loan payments and get balance inquiries -- 24 hours a day / 7 days a week.
Q. Do deposits post the same day they are made?
A. Yes, all deposits are effective immediately unless the teller informs you that there will be a hold placed on the check.
Q. How do I change my address?
A. Print and fill out the Online Address Change Form and mail it to our main office or drop it off at a location near you. For your security, we cannot accept faxed address change requests or emailed address change requests. If you are unable to print the form, you may write a letter making the request and mail it.
Q. What is the difference between my balance and my available balance?
A. All of our members maintain a share in the credit union of $25. This stays in your savings throughout the life of your account. The balance represents the amount in your account including shares, check holds, and loan pledges. The available balance is the actual amount that you may withdraw from your account.
Debit Cards
Q. How does a DUFCU Funds Express Debit Card work?
A. You use a Debit Card much like you use a Credit Card, but the money is
coming directly from your Checking Account. The amount of your purchase
must be available in your Checking Account at the time the purchase is made.
It also functions as an ATM card.
Q. How do I use my Debit Card at an ATM?
A. Simply insert your card into the Automated Teller Machine (ATM), enter
your Personal Identification Number (PIN), and the screen will lead you
through the transaction. You may make deposits, withdraw cash, transfer
funds between accounts, and check your account balances at Funds Express
ATMs. Access to your funds is also available through the Star Network. ATM
locations
Q. What if my ATM or Debit Card is lost or stolen?
A. If your Debit Card has been lost or stolen, it must be reported to DUFCU
immediately by calling (919) 684-6704 or 866 MY DUFCU. After hours, call
(800) 528-2273. To protect your account from unauthorized use, memorize
your PIN. Do not keep the PIN with your card.
Q. How much cash can I withdraw at an ATM?
A. You can withdraw up to $500 per day, provided the funds are available
in your account.
Q. At which ATMs can I use my card?
A. Access to your funds is available through Funds Express ATMs and the
Star Network of ATMs. ATM
locations
Q. Are there any fees when I use my card for ATM transactions?
A. There are no fees when you use your cards at Funds Express ATMs. However,
when you use your cards at ATMs that are not Funds Express, there may be
a fee. Fee
Schedule
Q. What is the difference between a Credit Card and a Debit Card?
A. Although you use a Debit Card much like you use a Credit Card, the method
of payment is different. When using a Debit Card, you are using the money
from your Checking Account. The amount of your purchase must be available
in your Checking Account at the time the purchase is made. When using a
Credit Card, you are borrowing money against your available credit line.
You pay that money back when you make your monthly payment.
Q. Does my Debit Card have spending limits?
A. The Debit Card has a spending limit of $2,000.00 per day. The spending
limit is equal to the available balance in your Checking Account minus outstanding
purchases that have not posted, with a daily total of $2,000.00.
Q. What does it mean when I use my Debit Card and the clerk asks
"debit or credit?"
A. There are two types of Debit Card transactions: debit (PIN) and credit
(signature). When paying for a purchase, the clerk will ask "debit
or credit?" When you reply "debit" to the clerk, it becomes
a PIN transaction. You are required to enter your Personal Identification
Number (PIN) after the card has been swiped through a point of sale terminal.
With PIN transactions, funds are withdrawn from your Checking Account immediately
at the time of the transaction. When you reply "credit" to the
clerk, it becomes a signature transaction. Signature transactions do not
require your PIN but you do sign a slip to accept the transaction. With
signature transactions, funds are held in your Checking Account at the time
of purchase until the transactions post to your account in one to three
days. You have up to 10 free “debit” transactions per month.
Beyond the ten free “debit” transactions, you will be charged
a $1.00 fee each time.
Q. Is there a fee to use my Debit Card for purchases?
A. There is no fee to use the Debit Card to make a purchase when you select
“credit” at the point of sale. You have up to 10 free “debit”
transactions per month. Beyond the ten free “debit” transactions,
you will be charged a $1.00 fee each time. It is the fast and simple way
of paying right from your Checking Account.
Q. How do I keep track of my Debit Card purchases?
A. You receive a receipt from the merchant every time you use your card
for a purchase. Record the amount of the purchase in your check register.
Even if you lose your receipt, all purchases are detailed on your monthly
Checking Account statement or you can view your transaction history online
with i-Access.
Q. How do I return merchandise purchased with my Debit Card?
A. Returns are made the same way you do with a Credit Card purchase. It
is best to save both your cash register receipt and the transaction receipt
until you are certain you are satisfied with your purchase. If you return
an item, the purchase price will be credited to your Checking Account. Just
like a Debit Card purchase, it may take a few days for the amount to be
credited.
Q. Does overdraft protection on my Checking Account work with purchases
I make with my Debit Card?
A. Yes. If the funds are not available in your Checking Account at the time
of purchase, but you have overdraft protection through a DUFCU savings account
or line of credit, the transaction will be processed. Courtesy Pay, however,
will not work.
Q. What if a purchase posts to my Checking Account that I didn’t
authorize?
A. If your DUFCU Debit Card has been lost, stolen, or you suspect unauthorized
use, have peace of mind knowing you will not be responsible for unauthorized
purchases. Report it to DUFCU immediately by calling (919) 684-6704 or 866
MY DUFCU. After hours, call (800) 528-2273. To protect your account from
unauthorized use, memorize your PIN. Do not keep the PIN with your Debit
Card.
About i-Access
Q. How do I enroll in i-Access?
A. Click
here.
Q. I recently signed up for i-Access. I
want to change my PIN, but I cannot find the link to do that.
A. Log-on to i-Access and click on the link to the
far right that says "Other Options" then click change password.
Q. What do I do when I am locked out of my
internet account or I forget my pin?
A. Call or email
the Credit Union. We will unlock the account or reset the password once
ID is verified.
Automatic Transfers
Q. Why can't I do more than six automatic transfers a month?A.Regulation D is a federal regulation limiting the number of transfers from a "Savings" (non-transaction) share account. A "Savings" share account includes:
- primary savings
- money market
- secondary savings
The federally mandated limit is six (6) automatic, preauthorized, and/or telephone transfers per month. A transfer using anyone of the following methods will count against the six (6) transfer limit:
- Audio Express
- Internet Account Access
- Telephone transfer requests called in to the Credit Union Member Service center or branch employee.
- Automatic transfers from a "savings" share account to a checking account to clear items due to insufficient funds.
To be in compliance with Regulation D, transactions will not be processed on the "savings" share account with the above-mentioned methods once the six (6) transfer limit has been reached. However, you may make additional transfers at any DUFCU branch or via the contact center.
Checking
Q. What is the easiest way to transfer my
checking account from another institution?
A. Establish your DUFCU account, then write a check
from your account at the other institution. Once all your checks from your
other account have cleared and you've received your new checks and Visa
Check Card from DUFCU, close the account at the other financial institution.
Start by opening an account or filling out a Switch
Kit.
Q. How can I make an electronic debit from my checking account?
A. View the
following instructions.
Q: How can I make an electronic credit to a checking account or
share?
A. View the
following instructions.
Q. What is your routing number?
A. Our routing number is 253175449.
Q. What happens when I bounce a check?
A. DUFCU offers Courtesy Pay, a member benefit that
may protect your account in the event that you are accidently overdrawn.
However, anytime you have non-sufficient funds in your checking account
DUFCU charges a $25 service fee.
Q. Will I receive fees from the company to
whom I bounced the check?
A. It depends upon the company. Most companies do
charge a fee for non-sufficient funds, but not all of them.
Q. How much does it cost to stop payment
on a check?
A. If you call the credit union to process a stop
payment and speak to an employee the fee is $20. If you use Audio Express
or Internet Access it is $15.
Q. How much is a box of checks?
A. The price of a box of checks ranges from around
$12 for a basic set up to about $20 for a premium set. Order a set today.
Wire Transfer Instructions
Q. How can I wire money to another financial institution?
A. DUFCU can send and receive domestic and international wires for our members
through a direct, electronic link through our corporate entity First Carolina
Corporate Credit Union. The wire must first be sent to First Carolina Corporate
Credit Union using the ABA routing number 253184317 the funds are then transfered
to Duke University Federal Credit Union using the following ABA routing
number 253175449. Please note that the account number you use is the one
located at the bottom of your check. Your checking account number is either
the last 12-13 numbers. If you are using a savings account you will use
your 5 digit account number and add a 0 to the end. View
a sample check.
Outside the United States - $30.00
Through Western Union - Fee Varies
Wire transfer fee- Incoming $12.00
Real Estate Questions
Q. Does DUFCU offer Down Payment Assistance programs for first-time homebuyers?A. Yes. Along with other state and federally sponsored down-payment assistance programs, DUFCU also offers its Home Express program. For more information, call Scott Baker.
i-Bill Pay FAQ's
Q. Why Should I Try i-Bill Pay?
A. Well, for one thing... It's FREE to Prime Checking
Account Holders. It will offer you the convenience and peace of mind that
you are in charge of your bill payments. You set up payments when you want
the payment sent, when your direct deposit is posted, and your checking
balance is 'healthy'. Duke University Federal Credit Union's i-Access service
allows you to check your account balance and transfer funds to checking
(if necessary) all on your schedule - not someone else's schedule.
Q. I Have my Utility Payments Setup via
CheckFree or Another Electronic Payment Method - Why Should I Change to
i-Bill Pay?
A. Automatic electronic payment for your utility
and similar bills is really convenient - but are you in charge? These merchants
tell you when to deduct the payment from your check register - with i-Bill
Pay you decide when you want this payment made. And, if for any reason you
want to stop automatic payment, you just click a button on your i-Bill Pay
screen at your 24 hour convenience - instead of calling the merchant during
business hours and explaining to someone that you want to cancel the electronic
payment method, then following up to make sure this request took effect.
Q. How Do I Enroll?
A. To enroll
in i-Bill Pay service, your must fill out a form and wait for your PIN
and registration information to be sent to you.
Q. How Much Does this Service Cost?
A. i-Bill
Pay Service is FREE to Prime Checking Account holders. Regular Checking
Account holders will be charged $5.00/month for the service.
Q. How Do I Setup a Payee?
A. Add Payee lets you add payees that aren't on the
master payee list. On the Payees screen, click Add Payee. A screen is displayed
in which you are required to fill in the following information: Payee (person
or company you are paying), Attn (person to whom bill should be forwarded,
if applicable), Address, City, State, ZIP code, Phone (area code, phone
number, and extension - if applicable), Name on Account (your name), Billing
Account No., Payee Nickname (a short name or acronym to let you quickly
identify your payee). If you click Reset, data is cleared so you can re-enter
it; Add Payee!, payee is added to your personal payee list (a confirmation
message will be displayed).
Q. Are There Any Merchants That Cannot be
Paid via i-Bill Pay?
A. Excluded merchants are governmental agencies,
including but not limited to federal, state and local taxing authorities,
collection agencies, as well as recipients of court-ordered payments like
child support and alimony. All payments outside of the United States are
excluded, except for payments made to any organizations or individuals with
addresses located in the Armed Forces or U.S. territory postal codes.
Q. Why Do You Need My Payee's Telephone
Number?
A. Our Remittance Processor, OnLine Resources Corporation
verifies all new Payee setups. All information on the setup screen is used
to verify that the payee will receive your payment and process it correctly.
A telephone call may be placed to your payee in order for this verification
to be accomplished. During this process the Status for each new Payee will
be marked Pending. When the Status changes to Active your new payee is ready
for you to Add a Payment.
Q. How Do I Setup My Payments?
A. To schedule a new payment, click Add New Payment
on the toolbar; enter the scheduling information, then click Submit (or
Reset to clear any incorrect information and start over). Use the drop-down
list to select a Payee Nickname; enter the amount of payment, Payment Start
Date (this is the date the payment is sent, not the date the payment is
received or due); Type of Payment (one-time or recurring). For Recurring
Payments you will need to enter the Payment Frequency (drop-down window)
and Number of Payments or Payment End Date. (Note: A one-time payment is
made all at once. A recurring payment is made in regularly scheduled increments).
Q. Can I Change the Date of a Payment I
Have Setup?
A. Yes, you can modify or delete a pending payment
by clicking Pending Payments on the toolbar. The current list of pending
payments for your account is displayed. Click the option button for the
pending payment you want to modify or delete. Click Modify Payment to modify
any of the following items: Amount of Payment, Type of Payment, Payment
Date, Payment Frequency; Number of Payments, and Payment End Date.
Q. Can I Cancel a Pending Payment?
A. Yes, click on Delete Payment - detailed information
about the selected payment is displayed. When you delete a pending payment
to a payee, you delete all other future pending recurring payments to that
payee.
Q. How Are My Payments Processed?
A. Duke University Federal Credit Union sends a file
to our remittance processor daily. Payments are processed and sent to merchants
electronically or by check on the same business day the file is received.
The type of payment (electronic or check) depends on the merchant - if the
payment can be received electronically, this is the preferred method.
Q. When Is My Payment Withdrawn From My
Account?
A. Funds are withdrawn from your checking account
on the date you schedule the payment. If the payment is listed in the Pending
Payments screen, then it has not been deducted from your account and the
payment has not been sent yet. These funds are forwarded to our remittance
processor (Online Resources) so that they can process your payments and
send them on to your payees.
Q. How Long Does It Take for a Payment to
Reach a Merchant?
A. From the day our remittance processor receives
the bill payment request, allow two (2) business days to process electronic
merchants and five (5) business days for paper check merchants.
Q. When I Add a Payee, How Much Time Elapses
Before I Can Make My First Payment?
A. In order to validate the new Payee information,
we allow seven (7) days for the payee status to be changed to Active. If
you set up a payment on a new payee, you will not be able to schedule the
payment date until seven (7) days have elapsed. (NOTE: Seven days is the
maximum time period, new payees are often Active sooner - check the payee
status to see if it has changed from Pending to Active.)
Q. Can I Stop a Payment?
A. Once a payment has been sent to our remittance
processor, it will be processed according to standard procedures. Make sure
you modify or delete a payment that you do not want processed before the
payment date!
Q. What if I need help?
A. Call 800.397.8840.
Financial Center Online - Identity Theft & Phishing
Q. Where can I find information on how to protect myself from Identity
Theft and Phishing?
A. Our online
Financial Center provides multiple articles on phishing and identity
theft. Read up on how to protect yourself from threats and what to do if
you think you have been a victim.
