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0.45%
0.45%
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2.59%
2.79%
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Frequently Asked QuestionsThe Credit Union DifferenceWhat’s the difference between a bank and a credit union?The difference is you! At FocalPoint, you’re not just a customer, you’re a member and an owner. We offer all the financial services and conveniences you’ll find at a bank and some very important advantages you won’t find there. Instead of answering to stockholders, we answer to you. And our profits go back to you, in the form of more competitive rates, higher yield savings options and affordable loans. Who is eligible to become a FocalPoint member?Becoming a member is easy! If you’re an employee from one of our 70 Partner Companies, then you’re eligible to become a FocalPoint member. We also extend membership to the families of Partner Company employees and retirees. Join today! To see if your employer is a Partners Company—and to request your free membership kit, contact us by e-mailing us here or by calling 315.463.8333 What happens if I stop working for an employer that offers FocalPoint benefits?At FocalPoint, our approach is "Once a Member… Always a Member." Once you’ve joined, we’ll stick with you if you change jobs, move, retire… Wherever life may lead you, we’ll be with you to help weather any financial changes that come your way. And if you let your new employer know about our great financial services, we’re always happy to expand our FocalPoint family and add new Partner Companies! How can my organization benefit from becoming a FocalPoint Partner Company?As an employer, you know how important a great benefits package is to attracting and retaining great employees. Well, offering them membership in FocalPoint Federal Credit Union is a powerful benefit that won’t cost you anything! Together, we’ll help your employees make their money work harder and go further. We make it easy too. To learn more of the benefits for you and your employees and to see just how simple becoming a Partner Company is, click here. Savings and CheckingWhere can I find up-to-date savings rates?To view our savings rates, please click here. Are my deposits insured?Yes, the National Credit Union Administration (NCUA), a federal government agency, insures your deposits for at least $250,000. Also, our IRAs are separately insured for at least $250,000. What should I do if my ATM/Debit card is lost or stolen?Please contact us immediately if you believe your ATM/Debit card has been lost or stolen:
We know losing a card is stressful, but remember, you’re protected if you notify us within two business days of the card’s theft. If you notify us within two business days, our security practice will not allow you to lose more than $50. If you do not tell us within two business days after you learn of the loss or theft of your ATM/Debit card, you could lose as much as $500. So please contact us and we will immediately begin working to protect your funds. What should I do if my password has been stolen?If you fear your password for Online Banking or Online Bill Pay has been stolen, you should do two things:
If you notify us within two days of your stolen password, our security practice will not allow you to lose more than $50. So contact us immediately and let us begin working to help you reclaim anything you may have lost! What should I do if my credit card is lost or stolen?Please contact us immediately if you believe your credit card has been lost or stolen:
When you call, please have the following on hand:
After you’ve contacted the card issuer by phone, it’s wise to follow-up with a letter to provide proof that you reported the loss should that fact ever come into question. It should state that your credit card was lost or stolen and include the member number, date of loss or theft, first date the card reported lost or stolen, and the last authorized transaction. If you lost your credit card as a result of a lost or stolen wallet, please remember to contact all card providers. What should I do if my account statement shows inaccurate transactions?Please contact us immediately at 315.463.8333 if your account statement shows transactions you did not make. The chance of reclaiming the money lost from an unauthorized transaction diminishes within 60 days after the statement was mailed, so let us know right away and we will do our best to solve the problem as soon as possible. We will contact your credit card processing provider and review the unauthorized transactions with them. How do I order check replacements?If your account is activated for Online Banking, you can order checks on the main page once you are logged in. Otherwise, stop into a branch today, e-mail us here or call 315.463.8333. How can I transfer funds between accounts?Whether you’d like to transfer money from your paycheck into your child’s college fund or you’re sharing finances with your spouse, FocalPoint offers a Cross Account Transfer service that’s great for helping families stick together financially. Simply access the form here, fill it out and bring it into your local FocalPoint branch. Once you’ve done this, your account transfer has been established and you will not have to fill out the same form again. This request allows you to transfer money out of your account and will not allow the other member to pull money from your account. Members must be on both accounts in order to transfer money across accounts. In order to utilize this service, please make certain the accounts both transferring and receiving funds are active FocalPoint accounts. Can I contribute to an IRA if I already have a retirement plan?Yes, you can—even if you participate in your company’s 401k or other retirement plan, you can still open a contributory IRA and fund it up to the IRS’s maximum allowable limit. Click here to view the different types of IRAs available through FocalPoint. Can I roll over an existing IRA, 401k or other retirement fund to FocalPoint?Yes, you can! Whether you have a pre-existing IRA, 401k or another retirement fund, FocalPoint can help you transfer your funds to receive our exemplary rates. If you have an existing IRA, we can directly transfer your funds with no deadlines or limitations, as long as you’re under age 70½ and the money leaves and re-enters the same type of IRA. When rolling over your existing IRA, you are allotted 60 days to redeposit the money into your new FocalPoint IRA. If you choose not to redeposit the entirety of the first IRA into your new account, the amount of money not deposited becomes taxable income, unless it represents a return of nondeductible IRA contributions. Rollovers between the same types of IRA are subject to a once a year rule, which means you cannot roll over IRA funds if there was a previous rollover from the same IRA in the past 365 days. The rule also bans rollovers from an IRA that has received a rollover in the last 365 days. Keep in mind, if you’re 70½ or older, you’re required to receive a minimum distribution from your traditional IRA that does not qualify for any rollover or direct transfer. If you’re transferring money from your company retirement plan, please keep in mind that participation in a retirement plan doesn’t change how much you can contribute to an IRA; however, it can affect whether or not you’re eligible to deduct your contributions to a traditional IRA on your tax return. As long as you’ve earned compensation, you can always make nondeductible contributions to a traditional IRA and benefit from tax-deferred earnings. Disclosure: We recommend you consult your tax advisor before establishing or funding any type of IRA. Online BankingHow do I access my Online Banking account?To create an Online Banking account, stop by a FocalPoint branch today! Once you’ve registered in person with a FocalPoint representative, simply log onto our website and click on our Online Banking page to get started. Then, enter your Account Number and the last four digits of your Social Security Number in the password box. Once you’ve logged onto our Online Banking page, you’ll be directed to create a primary and secondary password. Your password should be kept confidential. For your protection, we recommend you change your Online Banking password regularly. We also recommend you memorize this password and do not write it down. If you believe your password may have been lost or stolen, or someone has transferred or may transfer money between your accounts without your permission, please notify a FocalPoint representative immediately at 315.463.8333. Why can’t I access my Online Banking account?Our Online Banking program is designed to operate using technologies and protocols adaptable to a wide range of systems. Some older browsers, however, may not be able to connect to the site without first updating the browser security certificate. Our server uses 40 to 128 bit encryption, depending on the user’s browser. We use cookies to help us administer the Online Banking section. Some browsers allow you to reject cookies from servers. If you don't allow us to set a cookie upon entering the site, you will not be able to log in. The cookie we set contains information we need to maintain security protocols and allows us to 'time out' your authority to view information. We place the cookie with instructions that it can only be sent to a server in our Online Banking domain. These cookies cannot be used to extract data from your PC, and we do not store your Account Number, Username or Password in your cookies. For your protection, your account is set to 'time out' after a period of time. Until it times out, however, you can come back to our Online Banking page without logging back in. After the time out period, you will need to log in again. Remember, most browsers will let you use a BACK button to view previously visited documents, even if your viewing authority has expired. For this reason, the only way to keep others from viewing your account balance is to exit the browser when you are finished with your session. This is especially important if you are using a public or shared computer. Share CertificateWill my Share Certificate rate change when FocalPoint announces new rates?No. Once you sign up for a Share Certificate with FocalPoint, you’re locked in at the same rate for the designated duration of your account, regardless of whether rates rise or fall during this time period. Will I receive a notice when my Share Certificate matures?Absolutely. We want to make sure you are notified regarding all aspects of your account. That way, you can determine whether to withdraw your funds or reinvest them at a new rate! Can I withdraw early from my Share Certificate?When you sign up for a share certificate, you’re funds are locked in at a fixed rate for a fixed duration of time. This means there will be a penalty fee attached to any amount of money you withdraw before the allotted time expires. LoansWhere can I find up-to-date loan rates?To locate our most current loan rates, click here. What should I do if I can’t make my loan payment?We understand that life is filled with challenges, which could create difficulties making your loan payment. If you must miss your loan payment, please call us immediately at 315.463.8333 or visit one of our branch locations and we can work together to create a solution. Please be advised that loans more than 30 days past due are reported to national credit bureaus, which could negatively impact your credit score. Direct DepositWhat is the difference between direct deposit and payroll deduction?Both options are services offered by your employer to help you conveniently deposit money into your FocalPoint accounts. Direct deposit enables you to automatically deposit your entire net paycheck into one or more of your accounts on payday, and it is available for use that same day. Payroll deduction, on the other hand, allows you to deposit a portion of your paycheck into one or more accounts on payday. If your funds are electronically sent, they will be ready for use the day you are paid. For more information or to sign up for direct deposit or payroll deduction, please see your Human Resources Department or contact us at 315.463.8333. How do I start, change or stop my direct deposit?Start: With direct deposit, there’s no driving to the credit union and standing in line every payday. Your money is in your accounts, ready to use. To sign up, simply visit your company’s Human Resources Department and sign up with them to directly deposit money into your FocalPoint account. Stop or Change: To stop or change your direct deposit, make that request with your payroll department. We also ask that you advise FocalPoint of this change, so that we can be sure the transition is fluid and no time—or money—is lost. Other InquiriesWhat are your branch hours and locations?Main Branch: Syracuse Office hours: Madison County Branch Office hours: Canandaigua Branch Office hours: I’ve moved! How do I go about changing my address?At FocalPoint, it’s important for us to keep the most up-to-date information in order to help our members as efficiently as possible. To prevent fraud, please fax, mail or stop into a branch and provide your new address in writing as soon as you have moved. What is FocalPoint’s routing number?2213 7534 9 How can I make a wire transfer?Please contact FocalPoint at 315.463.8333 for more information. |