A Credit Union is a member owned non-profit cooperative. The first credit union was formed in 1850 in Germany. In this first Credit Union, members deposited their savings with a 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.
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.
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.
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.
We now have mobile check deposit using your smart device. Our credit union also has a drop box at all branches. Use an envelope to make your deposit and we will credit your account on the next business day.
Our main branch is open Monday through Friday, 8:30am – 4:30pm. We have extended drive-thru hours on Friday until 6:00 p.m. Saturday hours are from 8:30am – 12:00pm. All other branches are open Monday through Friday, 10:00am – 6:00pm with Saturday hours from 9:00am to 12:30 pm. We are closed during Federal Reserve designated holidays.
Call the credit union at (856) 299-1279 ext 134 to block the lost card for you over the phone. If your card is lost after hours, call (800) 299-9842.
Overseas fraud is on the rise. We recommend notifying us prior to traveling overseas to assist. Call (856) 299-1279, ext 134 for assistance.
You can get a loan by applying online at www.deepwaterind.org, or by visiting our loan department. We offer mortgages, home equity loans, Visa® cards, auto loans, boat loans, recreational vehicle loans, and personal loans.
If you sign up for on-line banking you can make transfers from deposit accounts to your loan anytime of the day. You can also set up automatic payments while receiving a reduced interest rate.
We offer online banking, bill pay, mobile app, Mobile Deposit Capture, eStatements, PAT (Phone Any Time Teller), wire transfers and our website.
PAT (Phone Any Time Teller) 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. The number is (856) 299-0722.
With eStatements, members can receive their statements electronically, usually arriving a few days after the end of the month. Members access their current or previous eStatements securely through the internet. You can sign up for eStatements online through your account profile.
Our cutoff time for outgoing wires is until 3:00pm.
The fees for outgoing wires is $30 for domestic wires and $50 for international wires.
No, the credit union is unable to exchange or accept any foreign currency.
Members can receive 1 free teller check (cashier’s check) per day. Each additional check is $2.00. The fee is $2 per teller check. Money orders are available for $1.00 each.
The credit union has Money Market accounts with great rates!
Yes, we offer notary service free to our members.
Online banking is a tool that allows you to use a personal computer with an Internet connection to conduct your financial transactions online.
You can view account balances and transaction history, transfer money, view cleared check images and much more. You can access your checking, savings and loan accounts. Online banking is intended to give you as much access, security and versatility as possible.
Your account information is very secure. We use the latest technology to protect our member’s privacy.
Absolutely not. Information on Online Banking is not public. Only you can access your account information using your access code (unless you share your password with another person).
When you perform a transaction with Online Banking, posting will occur immediately.
We do offer Electronic Bill Pay service. You can sign up for Bill pay directly through online banking.
When you update the information for the bill payment account, the changes are implemented instantaneously.
You can order checks by stopping into the credit union or by calling us at (856) 299-1279, ext 126. You can re-order checks online through our website or by going directly to www.legacymemberservices.net. If you are over 55, stop by or call us for your free checks.