- Who can become a member and how?
- What is CLFCU’s routing number?
- How is a credit union different from a bank?
- Are the accounts insured?
- How is interest calculated on a loan?
- How do I build my credit because no one will give me a loan?
- How does a debit card work?
- What are the limits on the debit card?
- How can I check my balance on my account?
- How do I respond in writing to audits and report errors?
Who can become a member and how?
Anyone who lives, works, worships, or attends school in Huntington County is eligible to become a member with us. To become a member you must bring in valid, state issued photo identification and open a $5 membership savings account.
What is CLFCU’s routing number?
Community Link Federal Credit Union’s routing number is 274973578. This can be used to set up direct deposit, automatic monthly withdrawals and/or credits to your CLFCU accounts.
How is a credit union different from a bank?
Unlike a bank who is owned by their shareholders, a credit union is owned by its members… people like you. Members maintain a $5 membership savings account and each hold a share of the credit union. The members also make up the Board of Directors and the Supervisory Committee which work together to make sure the credit union runs efficiently and accurately. Credit unions are also not-for-profit organizations. We are not out to make money, but return the money to our members through higher dividends, lower fees, and free products & services.
Are the accounts insured?
Yes. CLFCU is a federal credit union which is fully backed by the NCUA (National Credit Union Association). Each account is insured up to $250,000. For more information on this topic, visit the NCUA’s website.
How is interest calculated on a loan?
CLFCU loans are all simple interest loans. To calculate the interest: take your balance multiplied by the percentage rate, divide that by the number of days in a year, then multiply that by the number of days in between payments. This will be your interest.
How do I build my credit because no one will give me a loan?
The best way to build your credit is to get a share secured credit card or loan. Showing regular monthly payments on either of these products will help to build your credit. Anyone can get a share secured credit card or loan; no one is denied. Another way to build your credit to get a co-signed note or loan. A co-signer that has good credit may increase your chance of getting a loan. Then making regular monthly payments on the note or loan will slowly build your credit.
How does a debit card work?
CLFCU debit cards are backed by Visa and work like a credit card. You can use the debit card to withdraw funds from an ATM using a PIN number. You can also use a debit card to make purchases wherever Visa is accepted. When you use your card with a PIN number, otherwise known as a PIN transaction, that transaction amount will be deducted from your account immediately. If you use your card like a credit card, meaning you do not enter your PIN number and will likely need to sign the signature pad, that transaction will not hit your account until the merchant sends the file out. This does not mean that you are issued credit, so it is still imperative to have the funds in your account, however the transaction may not hit your account for a day or two.
What are the limits on the debit card?
The ATM withdraw limit is $200 in a 24 hour period. The purchase limit is $1500 in a 24 hour period. Our 24 hour periods run from 3 pm to 3 pm.
How can I check my balance on my account?
CLFCU offers Telephone Banking and Digital Banking including Home Banking and a Mobile App. These services are free to our members and available 24/7/365. To get enrolled in either of these services, stop by the credit union. You can also check your balance at an ATM for a $1.00 charge.
How do I respond in writing to audits and report errors?
Contact our Supervisory Committee Chairperson here:
CLFCU Supervisory Committee Chairperson
P. O. Box #846
Huntington, IN 46750