FAQs

 

What is a Credit Union?

A Credit Union is a member owned non-profit financial cooperative. The first credit union was formed in 1850 in Germany. In this first Credit Union members deposited their savings with the credit society to provide working capital with dividends paid on these “share” accounts. Loans were extended for “productive purposes” based on the character of the borrower. The concept of Credit Unions quickly spread throughout Europe, then to North America in 1900

What is the biggest difference between a Bank and a Credit Union?

Not for Profit, Not for Charity, But for Service - It’s true, credit unions are financial institutions like banks, and savings and loans, but they operate much differently. Credit unions are financial cooperatives, owned by the people who use the credit union. Since the focus is on service (not profit), members benefit with lower rates on loans, higher rates on savings, and often pay fewer fees and service charges on the same services offered by other financial institutions.

What is the Credit Union philosophy?

“People helping People” - Is more than just a slogan—it’s the way credit unions operate each and every day. Around the world, and here at home, credit unions focus on improving the quality of life for their members, their families, and the community.

How was Five County Credit Union founded?

Five County Credit Union was founded by the employees of Bath Iron Works in 1956 and was then known as the "BIW Employees Federal Credit Union". Our credit union has seen tremendous growth over the years in membership, assets and personnel. In 1993 the credit union converted to a state charter. In July, 2001, our name was streamlined to "Five County Credit Union. In 2007 we merged with Knox County Federal Credit Union, adding Knox to the list as our eighth county. In June of 2023 our charter was expanded to add four additional counties. Five County Credit Union’s current field of membership includes those who live, work, or worship in the counties of Androscoggin, Cumberland, Franklin, Kennebec, Lincoln, Oxford, Penobscot, Piscataquis, Sagadahoc, Somerset, Waldo, Knox.

Who owns the Credit Union?

As a credit union member, you own your credit union. You are entitled to elect, and be elected to, the volunteer Board of Directors, which is composed of your fellow members. The Board of Directors set policies for the operation of the credit union based on the needs and wishes of the members. The Board of Directors also establish dividend rates, loan interest rates, and fees.

Who is eligible for membership with Five County Credit Union?

Anyone who works, resides, or worships in Androscoggin, Cumberland, Franklin, Kennebec, Knox, Lincoln, Oxford, Penobscot, Piscataquis, Sagadahoc, Somerset, & Waldo County can join. Also, relatives of current members may join Five County. Those eligible for family membership includes spouses, children, siblings, parents, grandparents, and grandchildren of current members.

How can I become a member of Five County Credit Union?

To become a member of Five County Credit Union, you need to open a share "savings" account with a minimum deposit of $5.00. Once you are a member you are eligible for all of the Credit Unions services, from savings products to our loan products.

 

What are the benefits of Direct Deposit?

Benefits to members who establish Direct Deposit (full net pay) include; Free ATM card use, a .25% discount on future consumer loans (excluding loans for real estate, VISA credit cards, and lines of credit), free Bill Pay (1-20 payments), and the convenience of not standing in line.

What information does my payroll department need to set up Direct Deposit into my account?

They need our ABA Number and your account number. Our ABA # is 211287463. If you wish to have your funds deposited into your checking account, use the twelve digit number on the bottom of your checks. If you wish to have the deposit go into your savings account, use your base member number with Five County CU (without the -00).

What information do I need to have money wired into my account?

In order to wire money from another institution to your account with Five County, use these wiring instructions: Wire to: Tricorp Federal Credit Union, ABA # 2112-9166-6. Further Credit: Five County Credit Union, ABA # 2112-8746-3. Final Credit: Your name and account number. For checking use the twelve digit number at the bottom of your check, for savings use your base member number (without the -00).

Are my deposit accounts insured?

Funds on deposit are federally insured for up to $250,000 per member by the National Credit Union Administration (NCUA); an agency equivalent to the banking industry's FDIC.

If I wish to set up automatic withdrawals (payments) from my account, what should I tell the company?

You can use your debit or credit card, or our online Bill Payment service. To set up automatic payments from your account, companies may ask you for your account number and the credit union’s routing number. The routing number for Five County is 211287463. When debiting from your checking account you can find your twelve digit account number at the bottom of your checks. If you wish to have it withdrawn from savings use your base member number (without the -00).

I need to send a check for deposit. Which address should I use?

You should send your deposits and all other mail to: PO Box 598, Bath, ME 04530.

Does Five County offer business accounts?

We offer a variety of business accounts to suit the needs of your business.

 

When I have a problem I can call the Service Center, but what are the Service Center’s hours?  Are they open on holidays?

The Service Center is open Monday through Saturday, 8:30AM to 7:00PM.  They are open every holiday except Memorial Day, 4th of July, Thanksgiving Day and Christmas Day.

If I can't come in or call how could I contact my Credit Union for help on-line?

E-mail admin@fivecounty.com.  Also, if you have on-line banking, send the Service Center messages with any questions.  When you are logged into your account there is a tab that reads "other options" at the top right.  From there you will see Credit Union message board.  Click the message board to send us your question.

I need to put a stop payment on a check and I can't come in to a branch today what should I do?

If you have on-line banking, log into your account and refer to the tab that reads, Check Options.  Choose the Stop a Check section.  Also, you can call the Service Center to stop payment on a check.  This will put a verbal stop payment on the item for 14 days.  Within 14 days you will need to come in and sign the form to make the stop payment last for the full six months.  A processing fee will be assessed at the time the stop payment request is made.

I need to make a deposit and the branch is closed what should I do?

All Five County branches (except Bowdoinham) have a drop box on site (the Auburn branch drop box is limited to commercial depositors only and requires a key).  Drop boxes are checked twice a day by two employees.  Use an envelope to make your deposit and we will credit your account on the next business day.  If you have a VISA debit card you can also make a deposit using our ATM's that accept deposits.

When I try to view CU e-statements or Bill Pay nothing happens, it just says to remove pop-up blockers.  How do I do that?

In order to receive CU e-statements or Bill Pay the pop up blocker will need to be off.  Hold down the Control (Ctrl) button when you click the tab to view it in your account.  Or, go to Tools at the top of the computer screen.  If you have an option for pop-up blocker, you can click to turn it off.  If the pop-up blocker option is not there then go to internet options and click privacy and un-select Turn on Pop-up Blocker. On your iPhone, iPad, or iPod touch, go to Settings > Safari and turn on Block Pop-ups and Fraudulent Website Warning.

How can I get a copy of a check drawn from or deposited into my account?

If you have on-line banking you can get copies of any and all checks that you write once they clear your account. Once logged into on-line banking, Click Check Services tab > Click Check Search option. (You will need to have the check number and the date it cleared.) If you wish to get a copy of a check you deposited (up to 18 months), our Service Center can get a copy for a $2.00 charge per check. (Any checks dating beyond 18 months, you will need to contact us.)

 

My debit card is lost or stolen.  How do I get a new one?

If your card is lost or stolen within the US call 888-241-2510. If your card is lost or stolen outside the US call 909-941-1398.  We need a written request to order you a new card.  You may stop into one of our 15 locations, FAX, or mail us a request for a new card. You can send us a request for a new card in writing through our Credit Union message board with mobile or on-line banking.

Card Activation and PIN Change: Within the US call 866-762-0558. Outside the US call 501-588-7531.

Why is my VISA Debit Card not working?

Debit Cards have daily limits.  The limit is $500.00 a day using the PIN at a store or ATM machine, and $2,000.00 a day using the card as credit card.  If you have a loan with Five County that is fifteen days or more past due the card will be blocked until your loan is brought current.

Why would my available cash balance be different from my balance?

When you use a debit card, the merchant sends a confirmation to the Credit Union for an authorization.  When the approval is given, the balance in your checking account is reduced or "blocked" by the amount of the purchase.  This is known as a pre-authorization hold. The merchant determines the amount of the hold. Five County CU establishes the length of time the hold remains in place.  Typically the hold stays on your account until the funds are transferred to the merchant, or 24 hours.

What type of Credit Cards do you offer and what are the differences?

We offer two VISA credit card programs, one that offers points and one that does not, to match our member’s preference.  Our competitive interest rates and generous credit limits make our VISA the obvious choice for our members.  Contact a Member Service Representative for additional details of each VISA program.

There’s a charge on my account from my VISA card that I don’t recognize!  What should I do?

Some companies use different names, so always try to contact the company first (VISA requires this) to try to get your money back.  The next step is to print & complete a Debit/Credit Card Dispute Form and return it to a credit union representative. When we receive your written dispute, we work with VISA to get your refund processed.

I forgot my pin number. What do I do? 

We can order you a copy of your current PIN to be sent to your address. This can be done in person or by request through home banking. If you would like to pick your own PIN, that can be done in your local branch for a nominal fee.

Why won't my VISA credit card and/or Debit card work for transactions outside the U.S.?

Overseas fraud is on the rise.  You can use your card internationally by notifying the call center at 1-800-750-0959.  For your benefit, we recommend notifying us prior to traveling.

 

How can I apply for a loan?

You can apply for a loan at www.fivecounty.com, call our Service Center at 1-800-750-0959 Monday through Saturday 8:30AM to 7:00PM or stop in to any of our locations and see a Loan Officer.

What type of loans does Five County Credit Union offer?

Five County Credit Union is the answer to all your lending needs.  We offer a wide variety of loans: mortgages, home equity lines of credit, VISA cards, auto loans, boat loans, home and garden equipment loans, personal loans, and debt consolidation loans.

Need money for college?

A SallieMae student loan can help. Whether you’re an undergraduate or graduate — they have options to meet your specific needs. Call 866-284-3069 for more info or

• Apply Today at Salliemae/Five County

My loan is on automatic payments and the due date is a weekend or holiday, when will it post on my account? 

Automatic payments are scheduled to transfer to the loan in the evening.  In the event that the payment is scheduled for the weekend or a holiday, the payment will transfer to the loan the next business day, in the evening. The delayed processing will not negatively impact your account.

My loan due date is not on the best day for me.  Can I change my due date?

Five County Credit Union will allow you once within the life of the loan to permanently change the due date.**  You will need to contact one of Five County Credit Union's Financial Service Officers.
**This does exclude Real Estate Loans, Home Equity Loans, VISA, Line of Credits, and Safety Net Loans.

My payment might be a few days late, will there be a fee?

After 15 days late on a consumer loan, the Credit Union charges 5% of the payment amount or $10.00 whichever is less.

I am having trouble this month making the payment.  What should I do?

We encourage you to contact your Financial Service Officer immediately upon experiencing difficulty making your payments.  We will work with you to find a solution.

What are some convenient ways I can make my payments?

If you sign up for on-line banking you can make transfers from deposit accounts to your loan anytime of the day.  All Five County branches have a drop box onsite.  It is checked twice a day, by two employees.  Five County CU is also affiliated with Shared Branching, you can check on our website to find a location near you.

Agricultural Lending?

Maine Harvest Solutions (MHS) is a program of Five County Credit Union that provides loans and financial services to Maine’s farms and related businesses.

• Click to learn more

• Apply Today

 

What electronic services does Five County Credit Union offer?

Five County Credit Union has many electronic services.  We offer ACH Origination (Loan Payments from other institutions), Bill Payer, Direct Deposit "Member Select", E-Statements, VISA Check Cards, Cyberbranch "Home Banking", Overdraft Protection, Payroll Deduction, Teller-Phone, Wire Transfers, and our web site!

I'm trying to transfer on-line and it says I have met my limit.  What is this and what does it mean?

Reg D is a federal regulation that pertains to the number of electronic withdrawals and transfers that come OUT of a non-transactional (savings) account. There is a limit of 6 per month and it is reset every month on the 1st.  This does not apply to transactional accounts such as a checking account.  You can come into a branch to perform the transfer, use a shared branching location, or make the transfer or withdrawal at an ATM if you have a debit card. The call center will not be able to process your transfer request by phone once the Reg D limit has been reached.

User Name and Access Code, is that the same as Log In and Password?

Yes.  Your username is set up by you so you’re not entering your account number online.  The Access Code is also set up by you, for your protection.

I don’t have internet access how do I make a transfer or check on my account?

Teller-Phone is our 24/7-telephone system that provides members with access to their accounts using a touch-tone telephone.  It is user friendly and free to all members.

I can’t find my statement from last month what should I do?

With our e-Statements members can receive their statements electronically, usually just a few days after the end of the month. Members access their current or previous e-Statements securly through the internet. You can sign up for e-statements by clicking on the e-statements tab found on the homebanking account profile page.

What is the cut-off time for outgoing wires?

Our cut-off time for outgoing wires is until 3:00 PM.

What is the fee for a wire transfer?

The fee for an incoming wire is $5.00. The fees for outgoing wires range from $25.00 to $50.00, depending on the destination of the funds.

Incoming Wire Instructions

Wire To:

Tricorp Federal Credit Union, 2 Ledgeview Drive, Westbrook, ME 04092, ABA: 211291666

For Further Credit To:

Five County Credit Union, 765 Washington St., Bath, ME 04530, 800-750-0959, ABA: 211287463

Final Credit:

Member's Name, Physical Address, Account #

 

What is shared branching?

Shared branching is a group of credit unions nationwide that allow you to access your credit union account at more than 5,600 locations and 30,000 surchage-free ATMs in all 50 states.

Can I use another financial institution to access my Five County Credit Union account?

You can access your account through the Shared Branching network. You will need to know your full member ID number and also have a valid picture ID. (Drivers License, State ID, Military ID or Passport)

Where can I find a list of your ATM and Shared Branching locations?

Select About Us on our home page. The ATM locations drop down offers access to a list of both.

Does Five County Credit Union exchange or accept foreign currency?

No, Five County is unable to accept any foreign currency.

Does Five County offer safe deposit boxes?

Yes, at our Lewiston branch. We have several different sizes of safe deposit boxes to meet your needs.

Can I get teller checks' or money orders at Five County?

The fee is two dollars per teller check.  Money orders are available at a nominal fee.

Do you have the service of a Notary Public available in any of your branches?

Yes, we offer notary service free to our members. We employ at least one notary in every branch. Please call ahead at 1-800-750-0959 to make sure the notary is scheduled the day you plan to visit.

Refer A friend with Five County's Member Referral Program

Introduce us to your friends. Let your friends & family know how great it is to bank with Five County Credit Union!

• Refer A Friend Today - Click to learn more

 

When I call the Credit Union and ask for a rate of a Certificate why do they give me two rates?

There is an APY (Annual Percentage Yield) and a DR (Dividend Rate).  The dividend rate is the rate on your certificate.  The annual percentage yield is the amount that you earn over the life of the certificate if you don't withdraw your monthly dividends.

I want the best rate for my money, but don't want a certificate.  What should I do?

Five County Credit Union has Money Market accounts with great rates!  However, If you want an account that will help you save ask us about a SHIP account.  If you want the best rates you don't need to go anywhere else!

How is the penalty calculated for closing out a certificate early?

When a certificate is closed before maturity, one half of the potential interest will be forfeited. For example if you took out a 2 year certificate, and closed it after 18 months. You would lose an amount equal to 12 months of interest at the time of closing.

What is the minimum balance I need to open/keep in my Certificate?

You need to keep a minimum balance based on the tier amount of your savings certificate; $500.00 for tier one, $10,000.00 for tier two and $100,000.00 for tier three.

What is the minimum balance I need to open a Money Market Account?

The minimum opening balance for the Five County Money Market Club (Golden Rate Account) is $1,000.00. The Golden Rate Fund Plus Account, a Money Market Draft Line, has a minimum balance of $5000.00.

What is the SHIP account and how does the SHIP Account work?

"Share Holder Investment Program" The ship account is a deposit account designed to help earn more interest than a regular savings, and be more accessible than a certificate. You can open a ship account with $5.00 and deposit to it at anytime. We require that a written notice of 90 days be submitted before withdrawal. If you withdraw without notice you forfeit 90 days interest based on the amount of the withdrawal.

Can Five County Credit Union match the CD rate from another institution?

You'll find that Five County Credit Union's rates beat most of our competitors.  However, we do take other rates into consideration. If you are currently a member with Five County and find that another institution's rate has caught your eye, give us a call and we will see if it is something that we can match.

 

What is Home Banking?

Home Banking, also known as Cyberbranch, is a tool that allows you to use a personal computer with an Internet connection to conduct your financial transactions online.

What can I do with Home Banking?

You can view account balances and transaction history, transfer money, view cleared check images and much more.

What accounts will I be able to access through Internet Home Banking?

You can access your checking, savings, and loan accounts from the Internet Home banking service. Our Home Banking Product is intended to give you as much access, security, and versatility as possible.

How can I reset my home banking?

You can call our call center at 1-800-750-0959 or stop in to your local Five County Branch.

How secure is home banking?

At Five County Credit Union your account information is very secure. We use the latest technology to protect our members privacy.

Can anyone else access my account?

Absolutely not. Information on Internet Home Banking is not public. Only you can access your account information using your access code. (Unless you share your password with another person)

When do transactions post to my account?

When you perform a transaction on Internet Home Banking, posting will occur immediately.

Can I download my account history information & what software is supported?

You can download your account history into: Microsoft Money; Quicken (versions 2004 and older); and Microsoft Excel as a CSV File.  For information regarding Quicken versions 2005 and newer, please contact a member service representative.  Account history downloads to Quickbooks is NOT supported at this time.

 

Is there a way for me to pay my bills online?

We do offer Electronic Bill Pay Service.

How do I sign up for Bill Pay?

Signing up for Bill Payment can be done by signing-in to online banking and clicking on the Bill Payment tab at the top of the page.  For additional assistance, contact a Call Center Representative at  1-800-750-0959 or email admin@fivecounty.com.

Is there a fee for Bill Pay?

There is no monthly fee to use Bill Pay. (P2P and transfer fees still apply).

Is it possible to schedule recurring payments?

Yes. You can schedule weekly, semi-monthly and monthly recurring payments.

When I add a new payee to my bill payment account, or change my account number, how quickly will the change take place?

When you update the information for the bill payment account, the changes are implemented virtually instantaneously.

Can I use electronic bill payment with all my accounts?

No, only checking accounts can be used for bill payment purposes.

When can I start using electronic bill payment? 

You can begin bill payment once you have received your confirmation letter from us, usually within 48-72 hours after registration is complete.

 

What types of personal checking accounts does Five County Credit Union offer?

Our Classic Checking is for members who do not wish to maintain a minimum balance.  Our Prestige Checking and Elite Checking are for those members who wish to earn interest and are able to maintain higher account balances.

How can I order checks?

You can call Five County Credit Union's service center and we will order them over the phone for you.  You can also stop in to any one of our ten convenient locations.  Also, you may Re-order checks on-line under the Account Services Option.

Why was I charged a fee for a transfer I didn't make?

Five County Credit Union offers to all its members automatic overdraft protection from the savings account to prevent bounced checks.  FCCU charges a nominal fee for this transfer and the number of allowable transfers is governed by Regulation D limits.

There is a check # 9999 that cleared my account, I didn’t write a check # 9999.  What is it and why?

If you set up an automatic payment with a company they may print a physical check on your behalf.  Also, if you happen to overdraft an item with a business, that business may have an affiliate company charge your account a fee for the overdraft with that business.  That business will typically have a written notice stating that they may charge you this fee, should you bounce a check with them.

What is the minimum deposit required to open a checking account?

FCCU personal checking accounts do not have a required minimum deposit upon opening the account.

How can I tell which set of numbers on the bottom of my check is my checking account number?

The nine digit number 211287463 is our routing and transit number (ABA Number).  The twelve digit number at the bottom of the checks is your Micro Number (checking account number) it should start with 700020…

 

What is a down payment?

Virtually all home buyers rely on a mortgage loan to finance a home.  Few mortgage loan programs will enable you to finance the full purchase price of a home.  Instead, you will have to contribute a portion of the cost from your own funds (called down payment). 

What are points?

Points are finance charges paid to the lender as part of the closing costs.  Each point equals 1% of your total mortgage loan.  Points can be negotiable and are sometimes tied to your interest rate.  Paying more points to get a lower interest rate may be a good idea if you plan to take a long-term loan.

What is PMI?

Private Mortgage Insurance - Insurance the buyer carries to guarantee that the lender is paid off if the buyer defaults on a mortgage.  It's required for all mortgages with less than a 20% down payment.  The exact amount depends on the amount of the loan and the size of the down payment. 

What is an appraisal?

An evaluation of the property's value.  The appraiser visits the house and reviews recent selling prices of similar homes within the area.  You will probably pay an appraisal fee at closing or before. 

What is prepayment?

Making early or extra payments towards the principal (amount borrowed).  Prepayment can shorten the length of your mortgage and thus lower your total interest paid over the life of the loan.

What is a homeowner's warranty?

This warranty covers any repair to the structure, mechanical systems, and major appliances of the house for a certain time.  This warranty is useful when purchasing an older home.

What is an inspection?

An evaluation of the property to find out if there are any problems with it that could change its value.  The inspection also helps you decide if there are any items that you want the seller to repair before the final contract is signed.  The inspector prepares a detailed report indicating any problems found, after inspecting the entire home.