Frequently Asked Questions

What exactly is a credit union and how is it different from a bank?

A credit union is a cooperative financial institution, owned and controlled by the people who use its services. These people are members. Credit unions serve groups that share something in common, such as where they work, live, or go to church. Credit unions are not-for-profit, and exist to provide a safe and convenient place for members to save money and to borrow at reasonable rates. Like banks, credit unions accept deposits and make loans, but unlike banks, they are not in business to make a profit. Banks are owned by groups of stockholders whose interests include earning a healthy return on their investments. For more information on credit unions please click here.

Is there a fee to join the credit union or an annual fee?

No. There is no fee to join and no annual fee. You must, however, maintain a minimum balance of $25 at all times. This is not a fee and these funds will be returned to you should you ever close your account.

Am I eligible to join?

Click here for our eligibility requirements.

 

How do I join?

If you meet our eligibility requirements you can join in one of the three following ways:

• Online: complete our membership application and mail it to us.
• By Mail: Simply call 847-843-6500 and we'll send you an application by mail.
• In person at one of our branch locations.

Can my family join?

Yes, family members of current Premier CU members are eligible. Plus, once you're a member, you can stay a member regardless of your employment status or geographic location. Once a Member, Always a Member.

 

What if I just want to get a loan and I don't need your other services. Do still have to join the credit union?

Yes. You must become a member of the credit union in order to receive a loan. That means having at least a savings account with a minimum balance of $25.

 

Do you have any ATMs?

Yes, we have ATMs at our Schaumburg and Northbrook locations. We also belong to both the STAR and Allpoint Networks of surcharge FREE ATMs. This means you can use any of these thousands of ATMs as if they were part of Premier CU. Click here for more information and locations of surcharge free ATMs.

 

What if none of your branch locations are convenient for me?

In addition to the surcharge free ATMs mentioned above, Premier CU offers many free and easy online services such as Online Banking & Bill Pay, E-Statements, and online VISA access. For those preferring non-computerized access, we also offer a comprehensive telephone banking system and are affiliated with a Shared Branching Network. The Shared Branching Network allows members to use other credit union branches around the world to complete transactions, just as if they were stepping into one of our branches.

 

What is the credit union's Routing and Transit (R&T or ABA) Number?

   271988980

 

Are my deposits insured?

Actually, Premier CU provides the highest combination of federal and private insurance available to consumers. Deposits are federally insured up to $250,000 by the National Credit Union Administration (NCUA) and privately insured for an additional $250,000 through Excess Share Insurance.

 

I just bought a car and financed through the dealer. Is it too late to go through the credit union?

You can refinance at any time, but new autos are only considered new for 90 days; after that, used auto rates would apply.

 

I'm thinking of buying a car. Should I wait until I find one to apply for an auto loan?

No, it's always better to get prequalified and have a loan in place before going to the dealer.

 

My son/daughter wants to buy a car. I'd like him/her to buy it on their own, but wondering if I'll need to cosign?

The best thing to do is to have your son or daughter open his/her own account and tell him/her to apply on their own and mention you would be willing to cosign if necessary.

 

I'd like to get a loan. For what limit do I qualify?

Each case is different. A loan officer can determine this amount.

 

What do I do if I'm blocked out of my online banking or E-statements?

Call us at 847-843-6500 or contact us using the form on our website.

 

How can I find out why VISA transactions are being declined?

First call the credit union at 847-843-6500 and ask for the VISA Coordinator. If we cannot help you or you are unable to reach us, you can call VISA at 800-237-6211.

 

What do I do if I lose my debit or credit card?

For a lost or stolen VISA Credit Card, contact VISA Customer Service at 800-325-3678.
For a lost or stolen VISA Debit Card, contact VISA Debit Card Customer Service at 800-472-3272.

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Don’t Live Near a Premier CU Branch?
Try Shared Branching
Members may complete transactions at other credit unions nationwide. That means you can walk in to another credit union near your home or work and get cash, make a loan payment, transfer money, and close a loan with Premier Credit Union.

In a cooperative effort to bring you a new choice in financial convenience, your credit union has joined together with other credit unions internationally in the the CU Service Centers® Network. You can now perform many of your financial transactions and obtain services at branch locations or other credit unions belonging to the network. Just make sure the credit union is a participant in the CU Service Centers Network! Make sure to bring a valid picture I.D. in order to complete a transaction at a participating credit union.

Shared Branching Locator

 

Search for "shared branches" nationwide

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