U of I Employees Credit Union
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Savings FAQ

What types of savings accounts are available at the credit union?
The credit union offers four main types of savings accounts in addition to our Money Market account options. The Share Savings account is our membership account, with a minimum $5 balance. Our Christmas Club and Vacation Club savings accounts offer additional savings with no minimum balance. Our Silver Share Certificates offer increased returns for higher deposits.
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Is there any way to get in touch with the Member Service Department without having to call them?
Yes, you can email the Department at info@uiecu.org or send a secure message in I-Branch Home Banking.
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Is the Member Service Department open on Saturday?
The Five Points Branch in Urbana has Saturday hours. The lobby is open from 9:00 am until Noon on Saturday. After those hours, you can send a secure message via I-Branch Home Banking and we will answer your question on the next business day, in the order it was received.
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Is there any way for me to send money to my other financial institution without having to mail a check?
Yes, at UIECU we can send a wire transfer, which is an electronic transfer of funds from our institution to your other institution. There is a fee for this service. You can also have another institution send money from your account there to your account here at the credit union, again for a small fee. You may also print and return a Mail-in Membership Application.
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I am a student at the University. What do I need to do to become a member?
Visit the Member Service Department with your I-Card and valid Driversí license, state ID, or passport. (If you do not yet have an I-Card, please bring in your letter of acceptance to the University.) In order to become a member you will have to open a savings account with a $5 minimum balance. Opening this account will make you eligible to open our other accounts as well.
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I am not sure if I have gotten a statement for my account? Should I have? And can I get a copy?
Statements are mailed quarterly for savings accounts, but if you have both, savings and checking accounts, your statements are generated monthly. Quarterly statements are mailed at the beginning of January, April, July, and October. You can, however, get a paper copy of your monthly/quarterly statement for a $3 fee. Or, go to I-Branch Home Banking and view the history of your account there for free. Electronic statements are also available, but require signed authorization. Sign up now!

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I have graduated from the U of I and am moving out of Champaign, do I have to close my account?
No. At UIECU we have a policy of "once a member, always a member," which means that once you have opened your account with us, as long as you keep that account in good standing, you can keep that account open for the rest of your life, even if you are no longer a part of the U of I system.
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How can I close my account?
In order to close an account we need a signed, written request by mail or fax, or a signature on a closing account form. If you choose to close an account, you may do so with a Member Service Representative at any of our branches. Members may send letters to the Member Service Department at UIECU, PO Box 500, Champaign, IL 61824-0500. Members may also visit a Member Service Representative in person. Requests to close accounts may also be submitted securely in I-Branch Home Banking.
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What exactly is a Silver Share Certificate?
A certificate is a fixed-term, fixed-rate savings product. You deposit your money into the certificate and leave it deposited for a fixed period of time. However, there is a penalty for early withdrawal from the certificate. Because you have committed the funds for a longer period of time, the rates are higher than a regular savings account.
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Will my rate change on my certificate when the credit union changes rates?
No. The rate of your certificate was locked in at the time it was opened and will remain that rate for the term of your certificate. When the certificate matures, however, it will renew at the current rate on the date of maturity.
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When can I withdraw from my Silver Share Certificate?
You can make withdrawals from your Silver Share Certificate at maturity and for a grace period of ten (10) calendar days after maturity. Withdrawals from certificates prior to maturity incur a penalty of 90 days worth of dividends. You cannot make deposits to the regular certificates except at maturity and during the grace period.
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How can I find the current Certificate Rates?
The current rates for our savings products can be found here on our website under Savings & Certificates Rates or by contacting the credit union at 217-278-7700 during office hours.
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Local 217-278-7700      
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PO Box 500
Champaign, IL 61824-0500

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Once a member, always a memberShared BranchingEqual Housing LenderNCUA

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