Welcome New MEFCU Members!
Hello and welcome to the Mayo Employees Federal Credit Union! This merger is a culmination of months of hard work from both FSCU and MEFCU staff, and we are excited to present you with the information on the tabs below. Upon review of this information, if we didn't answer your specific question please let us know! We are here to help either in person, on the phone, using Live Chat, or over e-mail at firstname.lastname@example.org.
The MEFCU family is happy to welcome you to one of the strongest credit unions in the Midwest!
Important Online Banking Information
When will I be able to log into Online Banking?
We encourage all of our new members to use our Online Banking! Simply click here to be up and running in minutes! Once you have enrolled, we encourage you to print and follow the directions on the confirmation page, or just click here for a handy log in guide!
Will my old login ID and password work?
No. You will need to establish a new Login ID and password. One great feature within Online Banking is the ability to change and personalize your Login ID. Once logged in, simply click on "Security" to change.
What features are available within Online Banking and Mobile Banking?
Important Checking and Debit Card Information
Will I need to order new checks?
If you have a FSCU checking account, you will be receiving a complimentary box of MEFCU’s corporate check design. These checks will be shipped separately and you can expect to receive them by August 20. Please note the check packaging is a 5x7 folio type mailer and it will reference “Harland Clarke” as the check printing company.
When can I start using my new checks?
We encourage you to begin using the MEFCU checks as soon as you receive them. Until then, you can continue to use your current FSCU check stock as those checks will clear on your new MEFCU account number without exception. Once you receive your MEFCU checks, please shred your FSCU check stock (or bring them into the branch and we will shred them for you).
Do I have overdraft protection on my MEFCU checking account?
If you had a Line of Credit attached to your checking account at FSCU, it will be transferred and attached to your MEFCU checking account for overdraft protection. We also offer automatic transfers from your savings account for overdraft protection where funds can be automatically transferred from your savings account to cover any deficiency balance in your checking account.
What is MEFCU’s routing and transit/ABA number?
It is 291975478 and found at the bottom of every www.mayocreditunion.org website page.
When will my FSCU debit card no longer be accepted?
Your FSCU debit card will be shut down on July 31. If you require an electronic payment option from August 1 to August 6, please contact the staff in La Crosse and a complimentary Visa gift card can be loaded with funds from your account for any signature based transactions during that period.
When will I get a new debit card?
If you are currently a FSCU debit card holder, you will receive a new MEFCU debit card between July 31 and August 2. You will need to activate these cards by calling the toll-free number on the card. Additionally, you can expect to receive a PIN mailer shortly after you receive the cards. If you would like to change the programmed PIN, you can simply stop into any MEFCU branch (including the La Crosse branch) beginning August 6 to change your PIN number.
Your new MEFCU debit card will not work until Monday August 6.
What’s the difference between my balance and the available balance?
MEFCU debit cards are on “real time” and when you make a credit purchase (signature-based) with your debit card, your checking account will hold the amount of the purchase until the transaction posts to your account in about 3 business days. Point of sale (POS) purchases (PIN based) and ATM transactions are immediately deducted from your account.
What fees are there on MEFCU checking accounts?
MEFCU does not charge a monthly service fee on checking accounts or require a minimum balance in the checking account. Enclosed in this packet of information is a current rate and fee schedule which outlines current account related fees.
Important Savings Information
What’s the difference between my balance and the available balance?
There will be a $5 difference between your balance and available balance in your primary savings account (S1). An initial $5 deposit in the share savings account entitles you to be part-owner of MEFCU, and eligible for all other credit union services. This is different from FSCU where the minimum share amount was $10, thus you will immediately have available to you in your savings account, an additional $5. Regardless of balance, your savings accounts with MEFCU earn a very competitive rate of daily interest.
What’s a money market account (S15) and a premium money market account (S20)?
The money market account offers you a higher dividend rate based upon your balance and relationship. You still have easy access to your money and retain the security of federal deposit insurance, however in order to earn the higher dividend rates, there are minimum account balance restrictions and withdrawal restrictions. Please refer to the membership and account agreement included in this packet for detailed information on these accounts.
What other savings and/or investment products are offered?
MEFCU offers a variety of other savings products including Certificates with maturities ranging from 3 months to 5 years, Health Savings Accounts, and Individual Retirement Account (IRA) savings and certificates. Dividends paid on these accounts vary by account type and balances maintained.
I currently have a certificate with FSCU, what will happen to it at the time of the merger?
Any certificates you currently hold at FSCU will be converted to MEFCU for the remaining term at the existing rate. You will receive a letter 20 days prior to maturity with instructions as to the how to designate the transfer of the proceeds to another certificate or to an existing savings or money market account.
Important Loan Information
Will it be harder to get a loan from MEFCU?
We believe that loans to our members are the best investment we can make. We are committed to finding ways to say “yes” to our members who request loans. MEFCU's online loan applications make it easy to apply for and receive approval for any loan, 24/7.
If I have an automatic payment set up to pay my loan at the credit union, will it continue?
Yes, your automatic payments from your payroll or from another financial institution will continue. If you do not currently pay your loan automatically but would like to, stop by any credit union office or contact our Call Center and they can assist you on setting up an automatic loan payment.
Will my loan details, including interest rate and payment amount, stay the same at MEFCU?
Your interest rate and all terms and conditions on your loan will generally stay the same until maturity. You will be notified individually if there will be any changes to your loan.
How can I make my loan payment if it isn’t set up automatically?
After August 1, 2012, your loan payment can be made in person at any credit union location or be mailed to:
Mayo Employees Federal Credit Union
130 23rd Avenue SW
Rochester, MN 55902
If you currently make your loan payment using a coupon book, you can continue to use those coupons. When you need a new coupon book, simply give us a call and we will send you an updated coupon book for your remaining payments.
I have payment protection set up on my loan accounts, will that change?
Any payment protection you currently have set up on your loans through FSCU will continue until your loan is paid off.
General Account Information
Will my account number change?
Your base account number will stay the same but will be preceded by a 9 and enough 0’s to create a 6-digit number. For example if your existing FSCU account number is 555, your new account number will be 900555 or if your existing account number is 1234 your new account number will be 901234.
What if I had a membership at FSCU and MEFCU?
If you had accounts at MEFCU and FSCU, your FSCU account number will be discontinued and all your current FSCU accounts are now converted to your existing MEFCU account number.
What branch locations/ATMs will be available after the merger?
The existing FSCU office in La Crosse will remain and office hours will not be changed at this time. The five ATMs are now MEFCU owned ATMs and be available for use just as they are today. The main office of MEFCU is located at 130 23rd Avenue SW in Rochester MN. There are five additional offices in Rochester, one office in Arizona and another office in Florida. MEFCU ATMs are located in convenient locations throughout Arizona, Florida, and Minnesota. MEFCU is also proud to be a part of the Allpoint ATM network, providing member access to over 43,000 surcharge-free ATMs worldwide. This extensive number of ATMs allows members convenient access to their funds all around the world. Branch hours and ATM locations can be found here.
Will my deposits still be insured?
Your deposits (by account ownership) are insured with the highest level of security provided by the National Credit Union Administration (NCUA), A U.S. Government Agency. IRA and deposit accounts are insured up to $500,000. NCUA insures $250,000 and $250,000 is provided - at no cost to members - by Excess Share Insurance, the largest private deposit insurer.
If I have a payroll direct deposit set up from an employer or pre-authorized debits/payments set up what do I need to do?
MEFCU has worked with the Federal Reserve to ensure a smooth transition for these deposits and payments. However, we ask that you provide your employer and any vendors who automatically debit or credit your account with MEFCU’s routing number (291975478) and your MEFCU account number for these deposits and payments after the merger date.
Where will I be able to access my account history?
If you currently receive a paper statement from FSCU, you will continue to receive paper statements from MEFCU. You should ensure you save any of your eStatements to your personal computer or print them for future reference. To view transaction history incurred after August 1, 2012, you will receive a quarterly or monthly statement depending on the account services you utilize. If you prefer to receive statements electronically you can sign up for eStatements by accepting an electronic statement within online banking. If you find you need access to a prior statement and/or transaction information, please contact the credit union and we will assist you in any account research or archives statement information you may need. Please be aware, depending on the extent of the research and/or purpose of the information needed there may be a small charge for accessing this information.
Will Shared Branching be available after the merger?
The only FSCU service that will be discontinued as a result of the merger is your ability to use Shared Branching locations and Shared Branching ATMs without a surcharge. While this may initially pose challenges, please understand, MEFCU has significantly more robust online banking options, mobile banking, and debit cards with no limits or transaction fees (unless used internationally) when used for purchases at a merchant. MEFCU also has as a large network of surcharge-free ATMs for members to utilize; and every member receives four free ATM transactions per month when using non-MEFCU owned ATMs. You can also ask for cash back when using your debit card for purchases with merchants.
If I have other questions not addressed here, who should I contact?
You can contact MEFCU by phone (800-535-2129), e-mail (email@example.com), or live chat with a MEFCU representative by clicking "Live Chat" below during regular business hours.
La Crosse Office Hours
605 West Avenue South, La Crosse, WI, 54601
ATM is open 7 days a week, 24 hours a day.