FAQs

What's a Credit Union?
Let's start with what a credit union isn't.  We aren't a union in the normal sense of the word.  Instead, we are a "union" of people from similar backgrounds who came together to form this credit union over 40 years ago.  Although a credit union offers most, if not all, the same services as a bank, we are not a bank either.  We are a not-for-profit financial co-operative, which basically means we are just organized differently than a bank.  A credit union promotes thrift and provides credit to its members.

Got Stock?
As our clever CU-SWAG t-shirt asked and answered...no, credit unions do not have stock like other financial institutions.  We can raise capital only through earnings, as opposed to banks who raise capital by selling stock to shareholders.  Our board members are volunteers, so we don't have to worry about their return on investment.  Instead, we worry about giving back to all of our members in the form of better savings rates, lower loan rates, and cheaper services.

So, who are the members of a credit union?
It's different for every credit union because every credit union has a "field of membership," which defines who can join that credit union.  If you are a healthcare professional in Northeastern Oklahoma, you qualify for membership at Encentus FCU.  A healthcare professional includes doctors, dentists, chiropractors, and nurses, of course, but it also includes a doctor's secretary or a hospital janitor or cafeteria worker, or even someone who sells medical equipment, for example.  If you are exclusively working in a healthcare industry operating in NE Oklahoma, you are in our field of membership.  And, actually, we go even further than that, because your immediate family members can also join!

Do I have to pay dues to be a member?
Absolutely not!  We are not a union, so when you pay your one time $1 membership fee and deposit the minimum $5 in your share (savings) account, you are a member for life.  That's where the term, "once a member, always a member" comes from.  Let's say you are a brain surgeon who decides to follow his dream of coaching basketball.  Well, if you were a member while you were a brain surgeon, you can continue to be a member as a coach.  Once you qualify for membership and join, then you can stay forever as long as you keep that $5 in your share account.

Are savings deposits insured?
Yes. All savings accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government.  The NCUA basically works just like the FDIC, but there are so fewer credit unions around, you probably don't know the name as well.

But what can you offer that my bank doesn't?
How about lower loan rates?  What about a free annual meeting held at a local attraction (past events include Driller Stadium, Big Splash, Incredible Pizza, Discoveryland, Tulsa Zoo, and Camp Loughridge) where your entire family can have a blast and win prizes?  What about a smile when you walk through the door, and after you have visited a few times, a smile by someone who knows your name?  Not enough?  Does your bank return a portion of the interest you paid them on your loans at the end of the year?  We've done that for the last 6 years!  Still need more?  Free bill pay?  Free online banking?  Coin exchange?  Safe deposit boxes?  Free debit card?  Free checking?  We could go on and on and on...

Ok.  It sounds a little too good to be true.  What am I missing?
The only thing you are missing is the quality of service, along with the money you could be saving on loans and fees, while you wait around to join the credit union.  There is no hidden agenda.  There is no scheme.  We are here to serve our members, and we do it with their best interests at heart.  Our members take care of people.  We take care of our members.  We are here for their financial health.  Always. C'mon. Give us a try.

What is the minimum deposit to open an account?
It only takes $5.00 to open up a share account. Checking accounts require a deposit of $25.00. There is a onetime fee of $1.00 when you join Encentus.

How do I establish automatic payments, credits or debits to/from my account?
If you have electronic (ACH) payments, credits or debits being made to your account from a merchant or other financial institution, such as Social Security deposits, dividend payments, or utility bill payments, please notify that merchant or institution of your account number (located on the bottom of your check — but leave off that last digit!) and our routing number. Encentus FCU’s Routing Number: 303986229

Does Encentus FCU offer wire transfers?
Yes. Encentus FCU members can wire funds to and from their Encentus FCU accounts. To wire money to your Encentus FCU account, simply provide the other institution with these instructions:

Incoming Wires
Send to Catalyst FCU:
    311990511
Further Credit to Encentus FCU:
    303986229
Final Credit to Member Account:
    Full savings/checking number

What are your fees and when are they assessed?
When applicable, Encentus FCU’s fees will be assessed throughout the month and will appear on your statements. View our Fee Schedule

When will I get my statement?
If you have an active checking account or loan you will receive a monthly statement. Otherwise, you will receive quarterly statements. The statement cycle runs from the first day of the month to the last day of the month. If you are an Encentus FCU e-Statement user, your e-Statement will be available for viewing during the first week of each month via Home Banking. If you are not an e-Statement user, you can enroll by logging-in to Home Banking.

What’s the difference between my available balance and my current balance?
The available balance is your current balance less any items that are on hold.  On hold items include checks you have deposited that were placed on hold, as well as any pre-approved debit card purchases that have not yet cleared your account.  Your available balance represents the amount you can spend without incurring an NSF fee.  The current balance shows your balance, without subtracting items on hold.

Why was my check put on hold?
We put checks on hold more for your protection than for ours.  If you deposit a check and spend those funds only to have the check returned as NSF or fraudulent later, you are still responsible for repaying those funds.  People often think because they didn’t know the check was fraudulent, they won’t have to worry about it.  That’s just not the case.  The resulting negative balance in your account is still your responsibility to repay.

To avoid putting our members in that situation, we look for several things when a check is deposited.  The main reason we will place a hold is that the check is large, typically over $1,000.  The first $200 will almost always be made available immediately unless your account is less than 30 days old or if we have reason to suspect the check could be fraudulent.  Upon request, we can try to verify funds on the check you are depositing, but banks are less and less likely to provide this information.  In these cases, we have to place a hold on the check unless you already have a compensating balance in your account.

Some checks, including insurance checks, are ripe for fraud and require an automatic 5 day hold.  If our teller has placed a hold on a check, you can inquire about the reason and get an explanation from us.  Please clear up any confusion about the check, if that’s an issue.  Try to remember, though, we are just trying to protect you and are following internal procedures.

What ATMs can I use for free?
You can use any QuikTrip, Kum-n-Go, or Encentus ATM at no charge, unless you’ve exceeded the maximum amount of ATM withdrawals for your account type.  You have 10 free ATM withdrawals per month.

Our ATMs are located at St. John Medical Centers (Tulsa, Broken Arrow, and Owasso) and at our main office at 1320 S Lewis Ave.  We want to add more, though, so keep checking our eBranch app and this website for new locations!

Does Encentus FCU have a notary?
Yes, we provide free notary services to all members at our main branch.

When and how is my Club Account disbursed?
Club account disbursements can either be transferred to your regular share account or sent via check to your home address.  It’s your choice!  Christmas Club balances are disbursed on October 10th of each year, and Vacation Clubs on May 10th.

How can I change my address with the Credit Union?
You may either send us a secure email via Home Banking messaging or you may visit any Encentus branch and complete a Change of Address Form there.

If I bring in a lot of coins, do I have to use the coin counter?
Unfortunately, yes.  Even if you’ve counted and wrapped the coin, we require all substantial coin deposits to go through the coin counter.  This is because of the time involved in counting our change.  Our coin counter counts it for us accurately and efficiently.  Before we had the coin counter, we had long lines develop as tellers tried to count enormous amounts of change. 

How much does the coin counter charge?
Our coin counter currently charges 3% of the balance.  But watch for special promotions, such as back-to-school time, when we waive that fee!

How do I use the coin counter?
Before you arrive, sort through your change.  Look for 50 cent and dollar pieces.  Our coin counter will reject those, but you should go ahead and pull those out if possible.  Also look for non-coin items.  You would be surprised at what has rejected from the coin counter.  We’ve found fishing lures, batteries, safety pins, and a variety of other things people have had in their pockets along with their change!  While these items are typically rejected from the machine safely, they can also cause the machine to fault or even cause damage to the internal counters.

Avoid putting coin in old liquor bottles or anything that might be sticky unless it’s been thoroughly cleaned.  Sticky coins are the main reason for errors and require us to clean our machine daily.

What information do I need before I apply for a loan?
Our loan application will ask you for your basic information as well as what kind of debts you currently have. You may fill the loan application out online or in person at one of our branches. Once approved, you will be asked to verify your income, typically with the last couple of paystubs you received.  If you are requesting an auto loan, we will need a purchase agreement from a dealership or a car title if you are purchasing from an owner.

Enstant Loans require a $15.00 nonrefundable application fee. You must also be a member for at least 3 months to qualify for an Enstant Loan.

What if I forgot my home banking password?
If you have forgotten your home banking password, please call us at 918-430-3500. We will verify your identity and give you a temporary password.

What if I locked myself out of my home banking account?
If it’s not urgent, just wait a little while.  Our staff unlocks all accounts at least twice a day (M-F), usually first thing in the morning and right before closing.  If you can’t wait, that’s OK, too.  Just give us a call!

What is my login ID to home banking?
Your login ID will be your basic member number (not your checking or savings number) unless you’ve changed it once you’ve logged in.

Can I just use my smartphone for online banking and not a desktop computer?
You can access our webpage via smartphone, or you can download eBranch, our mobile banking app.

Is there a charge to use BillPay?
If you sign up for BillPay and use it every month, it is free.  If you sign up for BillPay and do not use it for three months, you will be charged $5.95/month.  If you signed up for BillPay, and then decided it wasn’t for you, simply send us a secure email.  We’ll cancel the service so you aren’t charged.

Who do I call with BillPay issues?
iPay, our BillPay provider, is best equipped to handle most of your BillPay questions.  You can call them at 1-866-321-6541.  Or, if you would like to check with us first to resolve the issue, give us a call at 918-430-3500.

 

I need to make a deposit, but the branch is closed. What do I do?
If you are depositing a check, you can use the eDrop tab in eBranch (our mobile banking app) and take a picture of your check. These will post to your account within minutes if under $1,000.

OR you can make a trip to our main branch and put your deposit in the night drop or in our ATM.
Night drop deposits will show in your account the next business morning.  ATM deposits will be reflected in your account immediately but will also have a two day hold on the full deposit.

What is eDrop?
eDrop is a feature of our eBranch app that allows you to deposit a check by simply taking a picture of that check. This feature is available to you anywhere, all of the time. eDrop is great for anyone who can’t make it to one of our branches.

How does eDrop work?
First, sign the back of your check and write “mobile deposit” and your member number under your signature.  Within our mobile banking app, eBranch, select the eDrop tab. Once there, select the account you want to deposit into and the amount of the check. You will then be asked to take a picture of the front and the back of the check using your smartphone’s camera. Once you have confirmed your transaction, the images and account information are securely delivered to Encentus electronically.  Once you’ve put a check through our eDrop system, you may not deposit this check at our office or at another financial institution.  It is now void.

Who is eligible to use eDrop?
Members of Encentus FCU with eligible accounts in good standing may enroll in eDrop.

How do I enroll for eDrop?
Once you’ve logged into the eBranch app, the option for eDrop will appear.  Click on it, and register your account!

How should I endorse the check for eDrop?
Endorse the back of your check as usual, but put the words, “Mobile Deposit” along with your member number under your signature. 

Why do I need to include the words “Mobile Deposit” on the back of my check for eDrop?
This ensures that your check is not deposited again at any financial institution. These words protect your account from fraud. If you do not endorse your check with these words, your check could be rejected.

What types of accounts can I deposit funds into on eDrop?
You can make deposits to you checking or savings accounts.   Just be sure to register any account you want to use.  If you need assistance, we can add an additional account to eDrop for you.

How do I know if my eDrop deposit was successful?
You will receive a confirmation that your deposit was successful. If the check was under $1,000, you should see it in your account within minutes. Any checks larger than that may not be deposited until the next business day, depending on what time you make your deposit.  Please note that receipt of the confirmation does not mean the transaction was error free, complete, or considered a deposit and credited to your account.  Always check your transaction activity in your account before spending those funds.

What should I do if I need assistance or experience a technical problem while using eDrop?
You can either give us a call at 918-430-3500 to speak with member services, or you can send us a secure message in home banking.