Frequently Asked Questions
What exactly is a credit union?
Imagine for a moment credit unions do not exist!
One day, as a large number of bank customers are being herded through the velvet ropes in a lobby, one of the fed-up customers shouts, “Hey, why don’t we just do this ourselves?” As other customers look up, drawn from their own worries over how much the bank fees will be this month, the customer continues, “I have an idea! Let’s take all of our savings and put it in a pot, and if anyone needs a loan they can borrow from the pot.
We’ll pay ourselves interest on our savings according to what we earn from those loans. And the money we don’t lend out we’ll invest in something safe. Together all of us can split the cost of hiring someone to oversee our money, along with the cost of an office. And hey, instead of having just a few limited rich people owning everything, we’ll all own it, and we’ll hold elections for anyone who has some money in the pot-it doesn’t matter how much, we’ll all be equal-and we’ll form a board of directors to run the fund. These people will have to give of their own time, so that won’t cost us anything, and we’ll know that since they’re volunteering they are doing it with everyone’s interests in mind.
And with that the bank customer withdrew their money and set up shop on their own, making everyone an owner and paying themselves more interest on deposits and charging less on loans than banks because they didn’t have to make sure big profits would go to a select few. What have these bank customers done? They’ve formed a union amongst themselves to extend credit to one another-in other words, a credit union!
That’s exactly what your credit union is.
Why is my credit union so different?
- Share Account: Your Savings Account at the credit union is really called a “Share Account.” That’s because you’re a “shareholder,” making you an owner in the credit union. Everyone who owns a share in the credit union is equal, regardless of how much money is in their savings account.
- Dividend: The interest paid on your savings account is called a “dividend,” because it’s really the money you have earned as a shareholder.
- Share Draft Account: Technically, your checking account is called a “Share Draft Account.” That’s because what you are really doing is writing a “draft” against your shares with the credit union.
- Volunteer Board of Directors: Most financial institutions have a board of directors. What makes your credit union different is that these board members, all of whom belong to the credit union, volunteer their time to serve. Which brings us to another critical credit union difference…
- Democracy: Those volunteer directors are elected by the membership of the credit union. Not only do you have the opportunity to vote for members of the board, but you may run for the board, as well. Credit unions are operated by the members, for the members.
- Not-for-profit: Sometimes you will hear your credit union mistakenly referred to as non-profit. Credit unions earn profits, but that money is returned to you in dividends, lower fees or no fees, and reduced loan rates. The difference is the credit union was organized to help members, not for the specific purpose of making money.
Am I eligible to join?
- Be a relative of someone who is currently a member of Buckeye State Credit Union, or,
- Live, work, worship, or attend school in the Cuyahoga County, Lake County, Summit County, or Stark County, Ohio, or,
- Be employed by one of the companies that are part of the Buckeye State Credit Union’s Select Employer Groups.
How do I reorder checks?
What is Buckeye's routing number?
I forgot my username and/or password for online banking.
Who do I contact if I lost my card?
Who do I contact if I suspect fraud on my account?
I am locked out of home banking for failed security questions.
I have forgotten my debit card PIN.
What are your hours?
Can I use BillPay?
BillPay is available to all of our members with an active Checking Account. BillPay’s service requires a transactional account to use, so if you only have a share/savings account you will not be able to use BillPay. You can access this service through your Online Banking. You can also utilize our ProPay service if you need to pay your loan.
How do I disable pop-ups on my web browser?
Are there any financial perks of being a Buckeye State Credit Union member?
Check out the Rewards page to see all that you are eligible for!
How do I sign up to become a member of Buckeye State Credit Union?
It’s easy to become a member. Simply fill out our quick membership application to start enjoying the benefits of membership!
How many branch locations does Buckeye State Credit Union have?
Buckeye has 4 locations throughout Northeast Ohio in Akron, Canton, Alliance, and Shaker Heights. We also participate in the Shared Branching Network, providing you over 5,000+ additional credit unions to use nationwide.
What online services are available to members?
Through online banking, members can make loan payments, check their balances, track spending, view their statements, transfer money, and pay their bills. In addition to these services, with mobile banking, members can also make check deposits.
How do I sign up for online and mobile banking?
To sign up for online or mobile banking, please call your local branch during regular business hours to speak to one of our representatives that will sign you up for this feature.
My financial circumstances have recently changed, and I need to discuss my options. Who should I call?
If you are experiencing financial hardship, we want to know about it so we can work with you. Please reach out to our Collections/ Member Solutions department at 330.253.9197 option 5.