We’re here to provide clear answers to your most common questions. Our FAQ page is organized by category, making it easy to find the information you need.
If you don’t find your question here, feel free to contact us at creditunion@wsscfcu.org (attention “Marketing”), and we’ll gladly assist you and consider adding your question to our FAQs.
Thank you for trusting WSSC FCU with your financial needs
General Questions
What is a Credit Union?
A credit union is a member-owned, not-for-profit financial institution that provides banking services to its members. Unlike banks, credit unions are governed by their members rather than shareholders, which means profits are reinvested to offer better rates, lower fees, and enhanced services.
What is WSSC Federal Credit Union?
WSSC FCU is a member-owned financial institution dedicated to serving the employees of WSSC Water, their families, and other select groups. We provide a wide range of banking and financial services designed to support your financial well-being.
What are the benefits of joining a credit union like WSSC FCU?
As a member of WSSC FCU, you benefit from competitive rates, low fees, personalized service, and a say in the credit union’s direction. Because we are member-focused, we prioritize your financial needs and reinvest in services that enhance your banking experience.
How do I become a member of WSSC FCU?
It's a simple and straightforward process. Visit the Membership page on our website to learn more and get started.
Are my funds insured at WSSC FCU?
Yes, your deposits at WSSC FCU are federally insured by the National Credit Union Administration (NCUA) up to $250,000.
How is WSSC FCU different from a bank?
As a credit union, WSSC FCU is a not-for-profit institution focused on serving its members rather than generating profits. This member-focused approach allows us to offer more favorable rates, lower fees, and a strong sense of community and personalized service.
What are your branch hours?
Our branch hours are listed on our Locations page. Members also have 24/7 access to their accounts through Online Banking, Mobile Banking, and ATMs.
How do I contact WSSC FCU?
You can reach us at (240) 459-8005 or visit our Contact Us page for additional contact options and details.
Accounts & Services
What is the minimum balance required to maintain my Primary Savings Account?
A minimum balance of $5 is required to maintain your Primary Savings Account and remain a member of WSSC FCU.
Can I access my account online?
Yes, you can access your accounts anytime through our Online Banking and Mobile Banking platforms.
When is an account considered dormant?
An account is considered dormant after 12 months of inactivity and may be subject to our monthly dormant account fee. To avoid this fee, you need to simply make a single deposit or withdrawal in any amount every 12 months.
When does an account get escheated to the State?
An account is escheated (all funds are remitted) to the State if it has been dormant for three years and the account appears to be abandoned, which means the credit union has not had contact with the member. If escheated, an account is subject to our $50 escheat processing fee.
What is the SaveUp+ account?
SaveUp+ Savings Account helps you save automatically through round-ups on debit card purchases and payroll deductions, offering a competitive dividend rate.
What types of checking accounts are available?
Explore our Checking Account page to view and compare the variety of checking solutions available at WSSC FCU.
Are there fees for using ATMs?
Members can use over 55,000 ATMs nationwide through our network without incurring fees. Out-of-network ATMs may have fees, but some accounts include fee reimbursements. Find a surcharge-free ATM location
How do I set up Direct Deposit?
To set up Direct Deposit, provide your employer with WSSC FCU's routing number (2550-7761-3) and your account number. You can also contact us if you need assistance.
What is WSSC FCU's ABA/Routing #:
Our routing number is 2550-7761-3
What is Overdraft Protection?
Overdraft Protection options allow you to avoid declined transactions or overdraft fees by automatically covering transactions from linked accounts or lines of credit. Please see our Overdraft Services page for more details.
What savings accounts do you offer?
In addition to the Primary Savings Account, we offer a range of accounts, including Special Savings, Money Market Accounts, and Holiday Savings Club accounts, each with unique benefits to help you save for specific goals.
Can I open additional savings accounts?
Yes, members can open additional accounts, such as Special Savings Accounts or Money Market Accounts, to save for specific goals or earn higher dividends.
What is a Money Market Account?
A Money Market Account offers higher dividends on balances over $2,500 and provides more flexibility than traditional savings, including limited check-writing privileges.
Are there services for budgeting and financial planning?
Yes, we offer tools like SavvyMoney for credit score monitoring and budgeting, as well as resources and educational content for financial wellness.
Loans
What is the Holiday365 Loan?
Our Holiday365 Loan helps members cover small expenses with loans ranging from $500 to $2,000, with no credit check required for qualified members.
What is a Savings or Certificate Secured Loan?
A Savings or Certificate Secured Loan allows you to borrow against the balance in your Savings or Certificate account, offering a lower interest rate.
Can I refinance my current auto loan with WSSC FCU?
Yes! You can refinance your existing auto loan with WSSC FCU to take advantage of competitive rates and flexible terms.
What is GAP Insurance?
GAP (Guaranteed Asset Protection) covers most or all of the difference between what your insurance pays and the remaining balance of your auto loan if your car is totaled or stolen.
What types of loans does WSSC FCU offer?
We offer a range of loans, including auto loans, signature/personal loans, student loans, home equity line of credit loans, and more.
How do I apply for a loan?
You can apply for a loan online, by visiting one of our branches, or by calling us.
What is the Holiday365 Loan, and how can it help?
The Holiday365 Loan is designed to help members with small expenses during the holiday season, offering loan amounts from $500 to $2,000 with no credit check for qualified members.
Can I make extra payments or pay off my loan early?
Yes, WSSC FCU allows you to make extra payments or pay off your loan early without any prepayment penalties.
Does WSSC FCU offer student loans?
Yes, we offer student loans to help cover educational expenses, including tuition, books, and other costs associated with higher education.
What is a Home Equity Line of Credit (HELOC), and how does it work?
A HELOC allows you to borrow against the equity in your home as needed, making it ideal for ongoing expenses like home improvements or unexpected costs. Unlike a traditional loan, a HELOC has a variable interest rate and offers flexible repayment terms, allowing you to access funds when you need them and pay interest only on the amount you use.
Are there loans for debt consolidation?
Yes, WSSC FCU offers Signature Loans and Home Equity Loans that can be used for debt consolidation, helping you combine multiple debts into a single, manageable payment.
Can I get a loan for home improvements?
Yes, WSSC FCU offers Home Improvement Loans with no liens or closing costs, fixed rates, and flexible terms. These loans are ideal for projects of any size, from major renovations to small upgrades. For those who don’t qualify, a Signature Loan may also be an option.
Overdraft Services
What overdraft services are available at WSSC FCU?
We offer two main options: Overdraft Protection and Overdraft Privilege, both designed to help you avoid declined transactions and overdraft fees.
How does Overdraft Protection work?
Overdraft Protection automatically transfers funds from your savings, another linked WSSC FCU account, or a line of credit to cover your transactions. Transfers from a linked account are just $1.00, while line of credit transfers are subject to interest and credit approval.
What is Overdraft Privilege?
Overdraft Privilege steps in when your account doesn’t have sufficient funds, covering checks, ACH payments, and recurring debit card transactions. With your consent, you can add Extended Coverage for everyday debit card and ATM transactions.
How much does Overdraft Privilege cost?
There’s a $25 fee for each transaction covered by Overdraft Privilege. Keep track of your balance using our mobile or online banking tools to help avoid multiple fees.
What is Courtesy Pay, and how is it different from Overdraft Privilege?
Courtesy Pay is an additional service that automatically covers everyday transactions, such as checks, ACH payments, and debit purchases, when your account balance is low. Courtesy Pay applies to eligible accounts with a $25 fee per covered item, saving you from declined payments or returned checks.
How does Overdraft Privilege’s coverage limit work?
Overdraft Privilege allows you to overdraw up to a certain limit, based on your account type and standing. New members start with a $100 limit, which can increase to $500 after 30 days of good account standing.
Do I need to sign up for Overdraft Privilege or Courtesy Pay?
Standard Overdraft Privilege and Courtesy Pay automatically apply to eligible accounts. For Extended Coverage on debit card and ATM transactions, you’ll need to provide consent.
Can I use both Overdraft Protection and Overdraft Privilege?
Yes, both can work together to maximize your coverage. Overdraft Protection uses linked accounts or a line of credit first, while Overdraft Privilege adds an extra layer of coverage if needed.
Can I opt out of Overdraft Services?
Yes, you can opt out of Overdraft Privilege or Courtesy Pay at any time by contacting WSSC FCU, and you can adjust Overdraft Protection preferences in Online Banking.
Credit Cards
What credit card options does WSSC FCU offer?
We offer Visa® Platinum Credit Cards, including Secured Credit Cards, with low rates, no annual fees, and a rewards program.
What is a Secured Credit Card, and how does it work?
A Secured Credit Card is backed by a deposit and is ideal for members looking to build or rebuild their credit.
What are the main benefits of the WSSC FCU Visa® Platinum Credit Card?
Our Visa® Platinum Credit Card offers a low introductory APR, no annual fees, no foreign transaction fees, rewards points on every purchase, and advanced security features like EMV and contactless technology.
How does the rewards program work?
Earn 1 point per $1 spent, and 1.5 points for every $1 spent over $1,500 each month, with double points on dining. Points can be redeemed for cash, travel, gift cards, and more.
Is there an introductory bonus offer?
Yes, new cardholders who spend $1,500 or more within 90 days of account opening receive 5,000 bonus points.
Are there fees for balance transfers?
No, we do not charge any balance transfer fees. The transferred balance will have either the introductory rate or the standard APR, depending on when it is transferred.
How do I complete a balance transfer?
To transfer a balance, you’ll need the card number and payment address of the card you’re transferring from. Complete the transfer through Online or Mobile Banking or use the balance transfer form.
What are Installment Plans, and how do they work?
Installment Plans let you convert larger qualifying purchases into fixed monthly payments (3–18 months) at a fixed APR of 4.99–6.99%. This feature helps with budgeting and is a good option for larger expenses, like car repairs or home improvements.
Is there a minimum purchase amount for an Installment Plan?
Yes, qualifying purchases must be at least $100 to convert into an Installment Plan. The fixed monthly amount is added to your minimum payment until paid off, with no penalty for early payoff.
Can I manage my WSSC FCU credit card through Online & Mobile Banking?
Yes, you can link your credit card to Online & Mobile Banking or use the wallō app to manage your card, view transactions, make payments, check rewards points, and set alerts.
What security features does the card offer?
Our Visa® Platinum Credit Card includes Visa’s $0 Liability Protection, EMV, and contactless technology for secure transactions.
How do I set up recurring payments?
You can set up automatic payments through payroll deduction or arrange recurring payments in the wallō app to ensure your minimum payment is covered each month.
Shared Branching
What is a Shared Branch?
A Shared Branch allows members from participating credit unions nationwide to access services at thousands of convenient locations, as if they were at their home credit union.
How do I find a Shared Branch near me?
To locate a Shared Branch, visit co-opsharedbranching.org and search by address or ZIP code.
Where are Shared Branches located?
Shared Branches are located across the U.S. and in major cities worldwide.
What transactions can I do at a Shared Branch?
You can check account balances, deposit and withdraw cash, transfer funds, and make loan payments.
How much cash can I withdraw at a Shared Branch?
You may withdraw up to $500 per day. Some locations may have additional withdrawal limits.
Can I take out a loan at a Shared Branch?
No, loan applications must be processed through WSSC FCU.
When are Shared Branches open?
Hours vary by location. Contact the branch directly or check online for hours and services.
Are Shared Branches open on Saturdays?
Some Shared Branch locations offer Saturday hours.
What do I need to use a Shared Branch?
Bring a valid ID (preferably a driver’s license) and your WSSC FCU base account number without suffixes. Specify savings or checking on the transaction slip.
Are there fees for using Shared Branches?
No, there are no fees for using your WSSC FCU account at a Shared Branch.
Will check deposits at a Shared Branch be placed on hold?
Shared Branches follow Federal Reserve check hold guidelines.
What if I can’t complete a transaction at a Shared Branch?
If issues arise, contact WSSC FCU immediately for assistance. If we’re closed, leave a message, and we’ll look into the issue as soon as possible.
Payments & Transfers
What is Direct Deposit, and how do I set it up?
Direct Deposit allows your paycheck or benefits to be deposited directly into your WSSC FCU account. You can set it up through your employer or benefits provider.
How do I transfer money between my WSSC FCU accounts?
You can transfer funds between accounts through Online Banking, Mobile Banking, or at a branch.
What are P2P (Person-to-Person) Payments, and how do they work?
P2P payments allow you to send money quickly and securely to another person using their email address or phone number. Through WSSC FCU’s Mobile Banking app. P2P payments provide a convenient way to pay friends, family, or other contacts.
How can I keep my P2P payments safe?
To keep your P2P transactions secure, only send money to people you know and trust. Always double-check the recipient’s details before completing a transaction, and monitor your account regularly using our Online or Mobile Banking services. WSSC FCU also recommends enabling alerts for added protection.
Are there any fees for P2P payments?
Fees may apply depending on the service you use for P2P payments. Refer to our Fee Schedule for the latest information.
Can I set up automatic payments for loans or bills?
Yes, you can set up automatic payments from your WSSC FCU account for loan payments, bills, or other recurring expenses. Use Online Banking or Mobile Banking to schedule and manage your payments.
How do I send a wire transfer?
Wire transfers can be initiated by visiting a WSSC FCU branch. You’ll need the recipient’s account details, including their financial institution’s routing number. Please contact us for assistance and fee details.
Is my money safe during transfers?
Yes, WSSC FCU employs advanced security measures to protect your funds during transfers. Using Online and Mobile Banking for transfers is secure, and we recommend setting up account alerts for added monitoring.
Business Accounts, Services & Loans
What types of business accounts does WSSC FCU offer?
We offer Business Checking, Business Savings, Business Money Market Accounts, and Business Certificates. Each account is tailored to meet different needs, from daily transactions to long-term savings and growth.
Is there a minimum balance requirement for business accounts?
Yes, our Business Checking requires a $50 minimum opening deposit, while our Business Savings requires $5. For Business Money Market Accounts, a $2,500 minimum is needed to open the account.
Do business accounts earn dividends?
Yes, Business Savings and Business Money Market Accounts earn dividends. Our Business Certificates offer fixed dividends at competitive rates for terms like 12 months, helping you grow your savings steadily.
What is BizNow, and how can it help my business?
BizNow is a business expense management tool that lets you issue and control reloadable cards for your team. This program offers flexible spending controls, quick re-loading, and mobile access, making it easy to manage expenses across your organization.
How can Newtek services benefit my business?
Through Newtek, WSSC FCU provides services like business lending, merchant processing, payroll management, and IT support. Newtek’s solutions are designed to help businesses grow, streamline operations, and reduce risks associated with financial and technological management.
What are the requirements to open a Business Savings Account?
A Business Savings Account requires a $5 minimum deposit and is necessary to open any other business account with WSSC FCU. Additionally, a unique Taxpayer Identification Number (TIN) is required, and all account holders must be eligible for WSSC FCU membership.
Are there fees for Business Checking or Money Market Accounts?
Business Checking has no monthly fees. For Business Money Market Accounts, there is no fee if you maintain a $1,000 average daily balance; otherwise, a $10 monthly fee applies.
What are Business Certificates, and how do they work?
Business Certificates are fixed-term savings accounts that provide guaranteed returns. With a minimum deposit of $500 and terms like 12 months, these accounts offer stability for growing your business funds.
Can I get a business loan through WSSC FCU?
Yes, we partner with Newtek to offer flexible business loans that support various financial needs, from expansion to equipment purchases. These loans are tailored to help your business grow and stay competitive.
How does Overdraft Protection work for Business Checking?
Overdraft Protection for Business Checking can be linked to another WSSC FCU account or a line of credit, ensuring that funds are automatically transferred if your account balance falls below zero.
Are there resources available for business growth and financial planning?
Yes, WSSC FCU offers partnerships with companies like BizNow and Newtek to provide expense management, financial services, IT solutions, and more to help your business grow and operate efficiently.
Guaranteed Asset Protection (GAP)
What is GAP?
GAP helps cover the difference ("gap") between the outstanding loan balance and the amount your insurance pays if your vehicle is totaled or stolen. This protects you from owing money on a vehicle you can no longer use.
What are the benefits of GAP?
- Covers the loan balance your primary insurance doesn’t pay
- Low-cost coverage for up to 84 months
- Includes deductible coverage up to $1,000 (availability varies)
- Protects your credit by eliminating the deficiency balance after a total loss
Can I purchase GAP from a dealership?
Yes, but GAP through WSSC FCU is typically more affordable than dealership plans.
How is GAP paid for?
GAP is usually included in your loan payments. You may also have the option to pay upfront.
Can I add GAP after my loan starts?
Yes, you can add GAP after loan origination, though it’s recommended within the first 18 months.
Is GAP transferable if I refinance or get a new vehicle?
No, GAP is non-transferable to new loans or vehicles.
How do I file a GAP claim?
Contact WSSC FCU with a copy of your insurance settlement. GAP will pay the covered balance directly to your loan.
What is GAP Advantage?
GAP Advantage provides an additional $1,000 toward financing a replacement vehicle if your current vehicle is totaled, as long as you finance through WSSC FCU within 90 days.
What vehicles are eligible for GAP?
GAP covers new and used cars, vans, SUVs, and light trucks up to 1 ton. Salvage/reconstructed titled vehicles are not eligible.
Does GAP cover my deductible?
Yes, GAP includes your deductible as part of the unpaid loan balance up to $1,000 (availability may vary by state).
Does GAP replace my collision or comprehensive insurance?
No, GAP supplements your insurance by covering the remaining loan balance after your insurance payout, but it does not replace primary insurance.
Extended Warranties
What is an Extended Warranty?
An Extended Warranty, also known as a Vehicle Service Contract, provides repair coverage beyond the manufacturer’s warranty for unexpected mechanical breakdowns. It covers parts, labor, and applicable taxes for repairs on covered components, subject to any deductible.
Why should I consider an Extended Warranty?
An Extended Warranty offers peace of mind by covering potentially costly repairs, keeping your vehicle in good condition, and reducing unexpected expenses.
Can I buy an Extended Warranty later or wait until my manufacturer’s warranty ends?
You can purchase an Extended Warranty after your initial warranty, but it’s generally more affordable with better terms when purchased sooner. Waiting may increase costs and limit available coverage options.
How do I get a quote for an Extended Warranty?
You can use our online quoting system for a free, no-obligation quote.
Where can I get repairs done under an Extended Warranty?
Repairs covered by an Extended Warranty can be performed at any licensed repair facility in the U.S. and Canada.
Are there any vehicles not eligible for an Extended Warranty?
Yes, vehicles with salvage/reconstructed titles, limited production or exotic cars, heavily modified vehicles, or those with altered odometers are not eligible. Check eligibility with our online quoting system.
Does an Extended Warranty cover wear and tear or routine maintenance?
An Extended Warranty covers parts that fail beyond the manufacturer’s tolerance, but it does not cover routine maintenance items like oil changes, brake pads, or spark plugs.
What if my vehicle has pre-existing conditions?
An Extended Warranty does not cover repairs for conditions existing before the contract's start date or prior to the manufacturer’s warranty expiration.
How much is the deductible?
The deductible on Route 66 Extended Warranty plans is zero.
Can I choose my repair facility?
Yes, you can take your vehicle to any licensed repair facility of your choice.
Does the Extended Warranty cover commercial-use vehicles?
Light commercial-use vehicles may be eligible. Examples include those used for farming, deliveries, and construction.
What’s the difference between "Named Exclusion" and "Named Component" plans?
A "Named Exclusion" plan covers all components unless specifically excluded, while a "Named Component" plan covers only listed components.
Security
What should I do if my debit card is lost or stolen?
Contact us immediately at (866) 541-2937 to report your card lost or stolen. Acting quickly helps protect your account from unauthorized transactions.
What security measures are in place for online and mobile banking?
We use Multi-Factor Authentication (MFA) and secure encryption to protect your accounts when using our digital services. These advanced security measures help keep your information safe while you bank online.
What steps can I take to keep my accounts safe?
Regularly monitoring your account, setting up real-time alerts through Online and Mobile Banking, and using strong, unique passwords are all recommended security practices. Enabling MFA where available adds another layer of protection to your account.
How does WSSC FCU protect my accounts online?
In addition to MFA and encryption, our wallō app includes card control features, such as locking and unlocking your card, setting alerts, and managing transaction types, to help you secure your finances on the go.
How can I protect myself from phishing scams?
WSSC FCU will never request sensitive information, such as passwords or PINs, via email or text. Be cautious of unexpected messages asking for personal information, and contact us directly if you suspect any fraudulent activity.
Is my information protected when using ATMs or card terminals?
Yes, WSSC FCU’s ATMs and card terminals are monitored for security, and transactions are protected by Visa’s $0 Liability Policy for unauthorized transactions. Always shield your PIN when entering it and be cautious of unfamiliar or tampered card readers.
For any additional questions or assistance with security, please reach out to WSSC FCU directly. Your financial safety is our top priority.
