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. Whaddayasay?”
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?
YOUR credit union differs from banks in some fundamental ways. Here are some other ways YOUR credit union is different, and why the credit union uses some of the strange terminology it does.
- 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?
In order to become a member of Buckeye State Credit Union, you must fit one of the criteria below:
- Be a relative of someone who is currently a member of Buckeye State Credit Union, or,
- Live, work, worship, or attend school in the City of Shaker Heights, 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?
Reordering checks can be done through our partner at Harland Clarke, and can be accessed by clicking here.
You may also choose to order checks through the vendor of your choice and though we do not officially support alternative vendors, they should give you no problems as long as you provide them with the correct information.
What is Buckeye's routing number?
Our routing number is 241273366
I forgot my username and/or password for online banking.
If you are unable to login to your home banking either because you have forgotten your username or password, please utilize the appropriate links below the login fields to obtain or reset your username or password. If you are still having difficulty, please contact your local branch for assistance
Who do I contact if I lost my card?
If you have misplaced your debit or ATM card, please contact your local branch for assistance during business hours, or call (800) 264-5578 after hours.
Who do I contact if I suspect fraud on my account?
If you suspect that there may be fraudulent activity on your account, please contact your local branch for assistance during business hours, or call (866) 842-5208 after hours.
I am locked out of home banking for failed security questions.
The account security questions are designed to provide you with increased account security and identity theft protection. If you have forgotten the answers to your security questions or are unable to login to your home banking service due to failed attempts you must contact your local branch to have these reset for you.
I have forgotten my debit card PIN.
If you no longer recall your debit card PIN you will need to contact your local branch to have it reset.
What are your hours?
For current branch hours by location please visit our branches page by clicking here.
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.
How do I disable pop-ups on my web browser?
BestBuy’s website has an excellent tutorial for disabling popups for your specific web browser: http://www.bestbuy.com/site/tech-tips/disable-popup-blocker/pcmcat748301880694.c?id=pcmcat748301880694