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Frequently Asked Questions

Bill Pay

Yes, you are authorized to $2,500 a month in payments through your account.

Yes, when you set up your payments you can schedule how often you would like them to be paid.

Yes, you are able to see an 18-month history.

You will need your account to be reset by contacting Bill Pay or us at LFCU.

Our routing number is 291172789.

Business Checking

You can expect our friendly staff to conduct your business in a quick, efficient, and professional manner. We are set up to serve small businesses, typically owner operated, and unfortunately are not equipped to handle medium to large businesses with high transaction volumes.  If you are unsure if we can service your Business Account just pop in and one of our friendly staff would be happy to chat about what we offer.

Yes, we do. These accounts are structured just like our personal accounts; therefore, you’ll avoid the fees typically associated with a Business Account.

Unfortunately, no, we do not currently offer this service on Business Accounts.

We sure can, just let one of our front-line staff know when you are in need of coin and cash. If you are placing large orders, we do ask for one-week’s notice.

We do not offer ACH payroll services.

Unfortunately, we do not. Most of our small business members are utilizing the Square or Quick Books and are able to obtain those services directly.

Business Savings

You can expect our friendly staff to conduct your business in a quick, efficient, and professional manner. We are set up to serve small businesses, typically owner operated, and unfortunately are not equipped to handle medium to large businesses with high transaction volumes.  If you are unsure if we can service your Business Account just pop in and one of our friendly staff would be happy to chat about what we offer.

Yes, we do. These accounts are structured just like our personal accounts; therefore, you’ll avoid the fees typically associated with a Business Account.

Unfortunately, no, we do not currently offer this service on Business Accounts.

We sure can, just let one of our front-line staff know when you are in need of coin and cash. If you are placing large orders, we do ask for one-week’s notice.

We do not offer ACH payroll services.

Unfortunately, we do not. Most of our small business members are utilizing the Square or Quick Books and are able to obtain those services directly.

Certificate

$1,000.00 – Regular Certificate, $50,000.00 – Jumbo Certificate, $100,000.00 – Jumbo Certificate.

The grace period is 10 days.

A penalty of 90 days dividends will be imposed on amounts withdrawn before the maturity date.

Dividends are compounded quarterly, and are computed by using the average daily balance method.

APR is your yearly rate without taking compound interest into account. APY, on the other hand, is your effective annual rate and includes how often interest is applied to your balance. Since loans and investments may compound interest more often than once a year, APY is typically higher than APR.

Christmas in July

The maximum term is 36 months for this loan sale.

A Christmas in July Loan can be used for a variety of things. Anything from Christmas spending, medical expenses, vacation, travel expenses, auto repairs, and much more.

As much as we would like to see your smiling faces, you can sign all of your documents through e-mail!

Of course not, we are your credit union. We are not going to penalize you for your good payment habits.

Debit Cards

Simply give us a call or stop in and we’ll have you fill out the Debit Card Application. From the date your card is ordered, it typically takes 7-10 business days for it to arrive in the mail.

Your new card will come with an activation sticker on the front of card, follow the prompts or we can help you by phone or in person.

PIN numbers are auto generated so we are not able to change your PIN number.

You are able to run your card three times as debit and 16 times as credit. These daily transaction limits are in place to help protect against fraud.

You may not exceed $2,500.00 in transactions per day. Temporary limits may be requested.

There may have been suspicious activity on your card which prompted them to call and check in. Please call the Falcon Number at 855-961-1602 and you’ll be asked to verify some recent transactions.

If you plan to use your Debit Card on vacation, please call 906-341-5866 and provide travel dates to avoid any disruptions with your card.

Please call us immediately at 906-341-5866 or after hours at 888-241-2510.

Debt Consolidation

This loan can be used for credit cards, loans, and any other miscellaneous payments you may have that you would like to combine together.

If the debt you are paying is a credit card, we will need the most recent statement for the card. If the debt you are paying is another loan, we will need a 10 day payoff. Also, we will need proof of income on all borrowers.

As much as we would like to see your smiling faces, you can sign all of your documents through e-mail!

Of course not, we are your credit union. We are not going to penalize you for your good payment habits.

Educational IRA

  • Elementary, Secondary, or Post-Secondary education
  • Tuition and fees
  • Books, supplies, and equipment
  • Computer technology and related expenses
  • Room and board
  • Special needs services

Yes, $2,000.00 per year.

You make non-deductible contributions that may provide tax-free withdrawals, including earnings, down the road.

You can make contributions to a child’s ESA until they are 18 years old.

A “Responsible Individual” directs the investment within the account. They decide when to withdraw money.   The “Responsible Individual” is usually a parent of legal guardian of the child.  The child may serve as the “Responsible Individual” after becoming an adult.

If the child does not use the money in their ESA before the age of 30, the unused portion can be transferred or rolled over to another eligible family member’s ESA. If the money remains in the ESA when the child turns 30, the ESA will be distributed and taxable to the child.

Free Checking Account

  1. You must reside in any of the following counties: Schoolcraft, Alger, Delta, Luce, or Mackinac.
  2. Have a valid, unexpired photo ID
  3. Have an active Savings Account with a minimum of $5.00 deposited (We can do this at the same time of opening your Checking Account)

There is no minimum balance requirement to open your Checking Account.

A Debit Card is not automatically ordered when the Checking Account is created. If you’re interested in receiving a Debit Card please contact us and we’ll get it started.

Anyone can deposit money into an account, but they will not receive a receipt. Only the person(s) on the account can get information and/or withdraw money.

If you do not have a joint holder or beneficiary listed, your account will go to your estate or, if unclaimed, will be escheated to the state.

A joint holder has equal rights to all money in the account and can make decisions about the money, just as you can, without your permission. A beneficiary is someone who will receive all remaining funds after you pass away and after any listed joint holders pass away.

Yes! We will need a copy of their social security card and any school photo ID, driver’s permit, or licenses.

Loan Status

Click the “Check Your Loan” button above and enter some quick info, easy as that.

This can be done in the “Check My Loan Status”. You will be able to click a button and upload any documents a loan officer might request.

This can be done in the “Check My Loan Status”.  There is a button you can click to send the team a message or you can text them by clicking here.

Mobile App

You can download and install the LFCU Mobile app by visiting your app store on your mobile device. Just search “Limestone FCU” and you will see our blue logo.

No, you can use each service independently.

In order to see all of your accounts you will have had to accept the Online Banking user agreement once.  This is done at login.

Your username is your account number. If you don’t know your account number, give us a call!

Checking shows up as 030 under your account number and Savings shows up as 000. However, you can assign a name to your accounts in Internet Teller under My Account > Account Descriptions.

Open your app and click the menu button in the top left-hand corner. Click “Deposit Check” and then “Make a deposit.” Follow the prompts to continue. If it’s your first time you will need to be approved.

Checks are deposited on a near-real-time basis.  Some checks may need additional review and may not be available in real-time.

  • You are only allowed 20 remote deposits in one day.
  • Remote deposits have an initial dollar limit of $1,000.00.
  • These limits are ALL subject to change upon request.

We suggest you uninstall the app momentarily and then redownload it through your app store, enter your internet teller credentials, and go through the app setup. If redownloading doesn’t work uninstall once more, make sure you can access Internet Teller, and then log back in.

Yes, you can link all Limestone accounts you are associated with on your mobile app. You can also link additional accounts from outside institutions. Please call us if you need assistance setting up additional accounts.

Money Transfer

Yes, please follow the items below.

Wire to Alloya Corporate FCU 271987635

  • 184 Shuman Blvd Suite 400, Naperville, IL 60563

Further Credit or Intermediate Financial Institution:

  • Limestone Federal Credit Union
  • 131 River Street, Manistique, MI 49854
  • Routing Number: 291172789

Final Credit or Beneficiary:

  • Member Name
  • Member account number at Limestone Federal Credit Union

All wire requests are processed upon receipt, funds may take up to 4 hours to post to members account. Wire requests received after 4:00 p.m. will be processed on the following business date.

Your transaction will post within a few seconds of your request if you transfer on the mobile app or through online banking.

You can also call LFCU and a staff member can make the transfer for you.

You have the option to transfer money via online banking and in our mobile app.  Under the “Move Money” you can select a “Quick Transfer” and “Transfer To” then select  “Another Member”.  You will need the member’s account number, the account suffix, and the first three letters of their last name.  This transfer will be immediate.

Mortgage Loans

  • Purchase Agreement (if applicable)
  • Proof of Income – Two years Income Tax Returns, including W-2’s
  • Two recent paystubs from all borrowers (must be within 30 days)
  • Two months of bank statements for all liquid accounts
  • Proof of child support, alimony, or separate maintenance (paid or received)
  • Copy of Driver’s License and one other source of identification – Social Security Card, Debit or Credit Card, etc.

In just 10 minutes you could be approved for a Mortgage, and even opt-in to e-sign and sign your documents from the convenience of your home. A Mortgage Loan Specialist will contact you shortly after your online application is received.

Easy! Apply online today for a quick pre-approval or stop into Limestone and visit with a Mortgage Loan Specialist. All decisions are made local, and our members can drop in at their convenience to speak with us.

The shorter the term, the less you will pay in interest over the life of the loan. If you plan on staying in your home, building wealth, and retiring early a shorter home loan term may be right for you. Shorter terms typically mean a slightly higher payment.  If you’re not certain you will be in your home forever, or don’t want to be tied up in a larger mortgage payment, a 30 year fixed loan may be right for you.

Both! We offer competitive in-house rates if you wish to keep your mortgage local and will loan up to 80% of the appraised value.

Closing costs typically include administrative fees, credit report fees, appraisal fees, title insurance, state recording fees, flood certification, tax service, etc.. Closing costs can vary per loan. At LFCU, closing costs may be included in the loan if the loan requested is a refinance and there is sufficient equity in the home to meet the Loan to Value (LTV) ratio requirements. This option is also available for Limestone, in-house/portfolio purchase transactions.

An Escrow Account is used to pay property taxes and insurance. Each month, you pay a portion of the estimated annual costs of these expenses which are deposited into an Escrow Account and held there until the insurance and taxes are due. Annually, we adjust your monthly escrow amount based on the actual tax and insurance bills, which can fluctuate yearly.

Private Mortgage Insurance (PMI) is insurance coverage that homeowners are required to purchase if they’re putting less than 20% down. PMI gives mortgage lenders a financial backup if a house falls into foreclosure because the homeowner couldn’t make their monthly mortgage payments.

Your mortgage provider will provide this insurance for you, and it will be included in your overall monthly payment. PMI will end on the date that your lender has calculated that your principal balance on your mortgage reaches 78% of the original appraised value of your home. Once 78% LTV is reached, the PMI is eliminated and your monthly mortgage payment may reduce.

We do! Rural Development Loans are available in our area and can allow you to finance up to 101% of the purchase price or appraised value, with zero down payment including financing the upfront Rural Development fee. Certain restrictions apply, see https://www.rd.usda.gov/programs-services for eligibility details.

Our loans are serviced with no pre-payment penalties. We encourage our members to build wealth for a comfortable tomorrow and not pay mounds of interest.

New and Used Auto

The terms will depend on the age, value of the collateral, and credit score. For example, on a brand-new vehicle we have longer terms than we offer for older vehicles. To get exact terms for the vehicle you have in mind, contact our loan department and we can give you some options!

Yes, our GAP protection not only covers up to 125% of the value of the vehicle if it were to be totaled out, but GAP also offers $1,000.00 towards a new vehicle financed with LFCU! Our favorite feature of the GAP protection is the deductible assistance. Let CUNA pay the deductible for you, up to $1,000.00!

As much as we would like to see your smiling faces, you can sign all of your documents through e-mail!

Of course not, we are your credit union. We are not going to penalize you for your good payment habits.

Online Banking

See our Upgrade Guide for instructions on enrolling in online banking.

Your username is your account number. If you do not know what your account number is, please contact us.

Transaction information located on Online Banking and the Mobile App are immediate. You’ll see changes the moment you swipe your debit card, deposit a check, etc.

Visa information can be delayed, the last updated date will show.  There is a sign on to EZCard in both online banking and the mobile app where you can get up to date information including transactions.

Yes, we use industry leading technology to keep your information safe.

Do not give your credentials for online banking to anyone.

VISA Credit Card payments are not immediate but will clear within 24 hours of payment.  There will be a last updated date for you to compare to your payment date.

There is a link to EZCard in Online Banking as well as the mobile app that can show you real time information including balances and transaction history.

Our routing number is 291172789.

Order Checks

Checks cost as low as $10 but can vary depending on the style and quantity of check you choose.

It typically takes 7-10 business days for checks to arrive by mail.

Overdraft Protection

If a transaction is processed when there are not enough funds in your account, Overdraft Protection covers the overdrawn amount and allows the transaction to be processed. This is not meant to be a line of credit, just cover an accidental mistake.

We will extend you credit up to $400.00, to cover an overdraft transaction. There are larger amounts available if approved.

You must be 18 years or older and must have a checking account.

You are responsible for the amount that was overdrawn, plus a fee of $18.00, which is less than having the check returned as Non-Sufficient Funds. The overdrawn amount and fee must be paid back within 30 days.

Pay Loan

You can make loan payments via Internet Teller, the LFCU Mobile App, or using CalliPay.

Simply open your app and click on Move Money.  Click the “Quick Transfer” button and then select your “Transfer From” and “Transfer To” accounts to get started.

Yes, you can pay your loan through CalliPay. You can use a debit card, credit card, or an “E-check” (a payment from an account”.

  • If using the Card option, you will need your card information, loan number, and payment amount.
  • If using the E-check option, you will need your account number, routing number, loan number, and whether or not you want the funds to pull from checking or savings.

Personal Loan

A Personal Loan can be used for a variety of things. Anything from Christmas spending, medical expenses, vacation, travel expenses, auto repairs, and much more.

The term will depend on the purpose of the loan. For example, if you are taking out a Christmas loan, we would only be able to extend that loan out one year since it is a yearly expense.

As much as we would like to see your smiling faces, you can sign all of your documents through e-mail!

Of course not, we are your credit union. We are not going to penalize you for your good payment habits.

Prepaid Cards

Visit us in person and we can help you out!

Prepaid Gift Cards can only be used one time. Prepaid Travel Cards can be reloaded.

You can load up to $1,000 to a Prepaid Gift Card and $1000.00 per day onto the Prepaid Travel Card.

Please allow up to two hours for funds to be available for both the Prepaid Gift Cards and Prepaid Travel Cards.

Yes, please call the number on the front of the card to receive your pin.

Both the Prepaid Gift Cards and Prepaid Travel Cards have a $4.99 initial set up fee. Additionally, the Prepaid Travel Cards cost $2.00 every time you reload money on to the card.

Rainy Day Account

Your February utility bill amount will serve as the baseline amount. If there was an increase in March, April, or May, those bills are able to be submitted for reimbursement. Members are eligible to receive funds up to the total amount of the increase.

Current reimbursements are limited to $100, once we review all of the applicants we may increase the amount if there are adequate funds.

Stash. Save. Cash. balances will be shown on your monthly paper or eStatement.

Yes, you will earn dividends on this account.  Your Stash Account currently pays a higher rate of dividends for balances $50-$1,000.  See the TIS Schedule for current rates.

Yes, at any time you have extra funds to transfer into your savings account, you can do so by processing the transaction in person at our branch or drive thru.

Yes, if you wish to cancel auto transfers and/or delete the new savings account all together, simply send us a written request to cancel the account.

Yes, you are able to make four withdrawals per year or a $10 fee will be charged for any excessive withdrawals. Remember, this account is helping you save for emergency savings.

Refinanced Auto

A Flex Loan is a flexible financing option, no pun intended 😊. This product is similar to a lease, offering members lower monthly payments, guaranteed residual values, the option to purchase the vehicle at the end or simply walk away.

No, we do not require a security deposit or upfront fee like a traditional lease program.

The cost of vehicles continues to increase which results in higher monthly payments. This program provides members lower payments and the option to walk away at the end of the term.

Yes, Flex Loans are available on new and used vehicles up to five years old.

Yes, members can purchase used vehicles using a Flex Loan with the following guidelines:

Current & Future Model Year: < 30,000 miles
Used 1 Year Old: < 45,000 miles
Used 2 Year Old: < 60,000 miles
Used 3 Year Old: < 75,000 miles
Used 4 Year Old: < 90,000 miles
Used 5 Year Old: < 105,000 miles
What if I want to sell the vehicle after 24 months?
No problem, simply payoff the balance and sell, trade in, or retain the vehicle. There are no prepayment penalties associated with this product.

The vehicle is titled in the members name with Limestone FCU as the loss payee, just like traditional financing.

Members can select mileage options that fit their lifestyle. Current offerings include options as low as 7,500 annual miles to as high as 18,000 annual miles.

It’s simple, we change a flat .10 cents per mile for any miles over the annual allowance.

There is a flat $195 disposition fee due at time of vehicle turn in. All vehicles are inspected for excess wear and tear, these fees will be assessed to the member based on the inspection. We do sell excess wear and tear protection to help protect members from excess fees at the end of the term.

We will need a 10 day payoff, VIN Number, and Proof of Insurance.

Refinanced Mortgage

  • Proof of Income – Two years of Income Tax Returns including W-2’s
  • Two most recent pay-stubs from all borrowers (must be within 30 days)
  • Two months bank statements for all liquid accounts
  • Proof of child support, alimony, or separate maintenance (paid or received)
  • Proof of paid property taxes
  • Copy of homeowners insurance policy
  • Payoff on current mortgage
  • Copy of most recent appraisal
  • Copy of Driver’s License and one other source of identification – Social Security Card, Debit or Credit Card, etc

Roth IRA

The biggest difference between a Roth and a Traditional IRA is how and when you get a tax break. The tax advantage of a Traditional IRA is that your contributions are tax-deductible in the year they are made. The tax advantage of a Roth IRA is that your withdrawals in retirement are not taxed.

No, you are never required to take the required minimum distribution.

Up to $6,000.00 for 2019 and 2020 (plus an additional $1,000.00 if you are 50 or older). Contribution limits are subject to annual cost-of-living adjustments.

YES – but the total contributions cannot exceed the annual contribution limit.

You have until April 15th on the following year for the previous year contributions.

Savings Account

To open a Savings Account, come and see us at the credit union and bring proper identification such as a valid photo ID.

A small deposit of $5.00 will get you started!

No, there are no fees besides the $5.00 deposit.

The standard interest rate is 0.10%.

Interest is paid quarterly by direct deposit.

Share Secured Loan

Share Secured Loans are a way for you to borrow money, using your own account as security.  This allows you to continue to earn dividends on your Share Account while giving you the best interest rate option.

As much as we would like to see your smiling faces, you can sign all of your documents through e-mail!

Of course not, we are your credit union. We are not going to penalize you for your good payment habits.

Special Savings

A Special Savings account is just another sub-savings account under your main account. Members use Special Savings accounts for vacation funds, bills, emergency funds, etc. *Fun Fact – you can change the name of your account to display what you’re saving for! Try it in Internet Teller.

The standard interest rate for Savings Accounts is 0.10%. However, with a Special Savings Account, you don’t begin collecting interest until your balance reaches $50 or more.

Stash Account

You will be able to view your new Stash Account on your mobile app and internet teller. This is titled EARN. You can view the balance and individual transactions just like any other account you have.

No, the Stash Account is strictly used for deposits from your round up transactions, LFCURewards Redemptions, Member Loyalty Bonuses, any cash incentives offered by LFCU and dividends earned on balance.

Yes, you will earn dividends on this account.  Your Stash Account currently pays a higher rate of dividends for balances $50-$2500.  See the TIS Schedule for current rates.

No, currently payments are transferred to the account tied to the debit card.  LFCU will not be responsible for any errors or account ownership issues with regard to round up transfers.

The automatic round up transfer will be cancelled and no fee or charges will occur.

Yes, if you don’t want your transactions to be automatically rounded up and deposited into your Stash Account, simply send us a written request to cancel the program.

Student Loan

A Private Student Loan is a loan typically acquired through credit unions and banks. We recommend exploring all avenues such as scholarships, Pell Grants, and financial aid using a private student loan as a supplement to federal loans.

A co-signer is an individual who guarantees that they will be legally responsible to pay back a debt that the borrower cannot pay. A co-signer may be a relative or a non-relative.

Yes, however, you must communicate this with your financial advisor. LendKey submits a request to your school to confirm how much funding you will need, and if they are not made aware you plan to take out additional funds for anything other than tuition, the financial advisor will only let LendKey know the tuition amount needed.

The application process only takes about fifteen minutes.

Funds are released as soon as all information needed has been received and reviewed by LendKey and/or Limestone Federal Credit Union.

A Variable Rate is an interest rate that may change based on a response to economic conditions.

No, we do not offer Fixed Rate Student Loans at this time.

Up to $75,000 total.

Yes, there is a 1% origination fee only in the event that a student loan is approved.

Traditional IRA

The biggest difference between a Roth and a Traditional IRA is how and when you get a tax break. The tax advantage of a Traditional IRA is that your contributions are tax-deductible in the year they are made. The tax advantage of a Roth IRA is that your withdrawals in retirement are not taxed.

Up to $6,000.00 for 2019 and 2020 (plus an additional $1,000.00 if you are 50 or older.) Contribution limits are subject to annual cost-of-living adjustments.

Yes, but the total contributions cannot exceed the annual contribution limit.

Yes, but you may be subject to an IRS tax penalty, unless you are 59 ½. At 59 ½ you may meet certain tax penalty exceptions.

Yes, at the age of 72, the IRS mandates that you take out the required minimum amount each year. If you fail to take the required minimum each year, you will be subject to an IRA penalty.

You have until April 15th on the following year for the previous year’s contributions.

Visa Credit Cards

Please call eZCard at 866-604-0380.

Yes!

  • Check your balance
  • View transactions
  • Set up Auto-Pay
  • Analyze your spending
  • Set up alerts

Our Classic VISA Credit Card has a limit of $5,000 and has a 13.9% interest rate. All LFCU members, even members with low credit scores, are eligible to qualify for the Classic VISA. Members with a 700+ Credit Score are eligible for the Platinum Credit Card which has a $10,000 limit and a lower interest rate at 9.99%.

You can make a payment four different ways! You can transfer funds on the LFCU Mobile App, pay via Internet Teller, click Pay My Bill on the eZCard website, or give us a call and we can process payment by phone.

Payment is due by the 16th of each month.

Yes, give us a call and we will be able to help you by phone or in person.

If you plan to use your card on vacation, please call 906-341-5866 and provide travel dates to avoid any disruptions with your card.

 Please call VISA immediately at 800-991-4961.