*Frequently Asked Questions - Loan Products*
How can I monitor my credit report?
You have the right to a free credit report from AnnualCreditReport.com or 877-322-8228, the ONLY authorized source under federal law.
How do I calculate my APR?
APR or Annual Percentage Rate is the figure which reflects the total cost of a loan, averaged over the entire loan term. The APR must be rounded to two decimal places and stated within an eighth of 1 percent. The interest rate is a periodic rate expressed or a finance charge that is imposed by a creditor on a balance for a day, week, month or other subdivision of a year.
The APR is a better indicator of your total costs and it allows you to compare loan products. We are required by the Federal Truth in Lending Act to disclose to you the APR in addition to the stated interest rate.
What is a home equity line of credit?
Our home equity line of credit product is a form of revolving credit in which your primary or secondary home serves as collateral. The product features a variable interest rate with a draw period and a repayment period of ten years.
Are loan decisions made locally?
Every First US Bank office has a manager who lives in the community and understands local needs. These managers and other lenders have the authority to make decisions on most loans within their lending limits.
I calculated several options to see how much house I could afford. How do I know which mortgage type is right for me?
Selecting the right mortgage doesn’t have to be complicated. After you get an idea of how much house you can afford, call one of our Mortgage Originators and find out what options are available to you.
After speaking with one of our Mortgage Originators, you may be surprised at all of your options. You can reach the officer nearest you by visiting our Locations page. This will give you branch contact information.
How often are rates updated?
All deposit and loan rates are adjusted and dictated by market conditions or special promotions. We invite you to call your nearest branch for quotes.
How much can I borrow using a Home Equity line of credit?
Your credit limit (also known as available equity) is determined by taking a percentage (for example 80% or 90%) of your home's appraised or fair market value, and subtracting the balances of any outstanding mortgages on the property.
What will it cost me in fees to open a Home Equity line of credit?
We cover the cost of appraisal (if necessary), title opinion, recording fees, flood determination and other fees associated with the loan closing provided the minimum credit line is approved.
How can I access my Home Equity line of credit?
Checks are provided for your convenience, and internet banking transfers are also available for NetTeller online banking users.
What is PMI and how is it calculated?
Private Mortgage Insurance (PMI) is a type of insurance provided by a private mortgage insurance company to protect a lender in the event of default on a loan. This type of insurance is generally required when a borrower has less than 20% equity in a home. The borrower pays for mortgage insurance on a monthly basis in addition to the principal and interest payments to the mortgage insurance company.
What is an escrow account?
An escrow account is set up by a lender in order to pay property taxes and insurance on behalf of the borrower.
Is the interest paid on a Home Equity line of credit tax-deductible?
In most cases the interest on a home equity loan or line of credit of up to $100,000, and a maximum loan-to-value ratio of 100%, is tax deductible. Consult your tax advisor about your specific situation. IRS Publication #936 "Home Mortgage Interest Deduction" has more information.
What are the terms of a Home Equity line of credit?
Our Home Equity line of credit offers a term of ten years. It can be drawn on for ten years. After this term, you can apply to renew your line of credit. If you do not renew, your account balance will either be due and payable in full or it may be restructured on a fixed rate loan for three to five years, amortized up to 25 years.
Must I occupy the residence I'm using as collateral on a Home Equity line of credit?
You do not have to occupy a secondary residence which you are using as collateral.
Can I apply for an account online?
You may access several downloadable loan applications from our Resource Center or Lending Services tab. We do not offer online opening of loan or deposit accounts at this time; however, you may open the applications and complete them from the privacy of your home or office computer. You may then print them, and bring them into the branch nearest you to sign and submit.
What is the minimum draw amount on a Home Equity Line of Credit?
No minimum draw is required on our Home Equity Line of Credit. There is, however, a minimum amount of $10,000 - $11,000 if you want to avoid the fees associated with this product.
*Frequently Asked Questions - Deposit Products*
Are First US Bank deposit accounts FDIC insured?
The chart below is one example of how your deposited funds can be fully insured by the FDIC at one institution. Protecting and insuring people’s bank deposits - it’s a simple idea. This idea became the foundation of our modern banking system, by creating stability and promoting public trust and confidence. And it works. Since the start of the FDIC insurance program, not a single depositor has lost a single penny of insured deposits from a bank failure.
|Husband and Wife
|Pay on Death/POD Accounts:
|Husband and Wife POD to 3 children
|Revocable Trust Accounts:
|Husband in trust for Wife
|Wife in trust for Husband
|Total Insured by FDIC:
How can I do a better job of managing my money?
Being smart with your money establishes a great foundation for your future.
Financial literacy education develops the skills you need to achieve financial freedom. That's why the FDIC developed the Money Smart financial education curriculum -- to help individuals learn the basics of personal finance. We want to provide you with all the tools you need to make smart decisions with your money and your financial future.
Money Smart is a free 10-week course, available in young adult and senior adult versions all either online or on CD, you can complete at your own pace. The course includes: basic banking knowledge, borrowing, checking, and savings, budgeting, keeping your money safe, building and protecting your credit, and owning your home.
To take the online Money Smart course go to: www.fdic.gov/consumers/consumer/moneysmart/mscbi/mscbi.html
What is a CD?
A CD is a Certificate of Deposit and a type of savings account with a specified time period until maturity. CD terms range from three months to five years and interest earned normally increases incrementally based on the length of the term.
I need a low cost checking account. What does your bank offer?
Our FirstLink line of personal checking products is your link to savings with a waiver of your monthly maintenance fee based on your current banking relationships and electronic banking habits. With three choices, one might just fit your needs. We’ll thank you with some great benefits for your relationships with us and for some of the things you are probably already doing. Ask us about our FirstLink line today. Member FDIC. Please visit our Checking Accounts section for more details!
How often are rates updated?
All investment and loan rates are adjusted as dictated by market conditions or special promotions. We invite you to call your nearest branch for quotes.
Can I add someone else to my checking account?
You can add someone else to your checking account as a secondary owner by simply visiting your local office and bringing the individual, along with their valid photo identification, with you.
What are some tax advantages of an IRA?
Two tax advantages of an IRA are:
Contributions you make to an IRA may be fully or partially deductible—depending on which type of IRA you have and on your circumstances.
Generally, amounts in your IRA (including earnings and gains) are not taxed until distributed. In some cases, amounts are not taxed at all if distributed according to the rules.
*Consult your tax advisor for more information.
How much should I be saving in my 401(k) plan?
Most financial advisors recommend that you save at least 10% of your salary. However, if that sounds too tough, try the 1% solution. You start by saving an amount you can afford, then raise it by one percentage point a year. For example, if you start by saving 2% of your income, the next year you will save 3%. In the third year save 4%, and so on. You'll soon be saving more than you thought possible.
NBC Securities may offer investment opportunities that are right for you. For more information, ask a Customer Service Representative to put you in touch with a representative or click here to send an email. Investment options offered are not a deposit, are not FDIC insured, and are not insured by any federal government agency. They will fluctuate in value and may be worth more or less than your original investment.
Are certificate of deposit and savings accounts my only investment options?
Not only does First US Bank offer certificates of deposit and savings accounts, our partners at NBC Securities also offer an array of other investment products. If you are looking for stocks, bonds, annuities, and just about anything in between, they can help. Please click here and you will be redirected to an external website to contact our representatives at NBC Securities, and they will be in touch with you directly.
How can I choose the best checking account for me?
You'll find detailed account descriptions and a features comparison chart on our Checking Accounts page.
How do I stop payment on a personal check?
You can request a stop payment on a personal check by calling 1-855-736-3008, or by visiting or calling the branch nearest you. Within 14 days of the time you call, you will need to visit the branch and sign a Stop Payment form to keep it effective for six (6) months. Please provide the following information: check number, date written, exact amount of the check, and payee. If the amount and check number are not exact, the check may be paid. The stop payment cannot be placed on an item that has already been presented. For further information regarding stop payments, stop payment fees, or bank and customer responsibilities please refer to Fees and Service Charges.
Why is a routing number important and where do I find it?
A routing number is a bank identification number that assists in the processing of debits and credits between financial institutions. Each bank is assigned a routing number by Thomson Financial Publishing Inc., as agent for the American Bankers Association (ABA). Any time you want to set up a direct deposit to a checking account or an automatic bill payment from a checking account, you must give the processor your correct routing number. The routing number identifies the paying bank on the face of a check in two forms: A fractional form normally located in the upper right hand corner and a nine digit form printed in magnetic ink in a strip along the bottom of the check. First US Bank’s nine digit routing number is 062103592.
Can I apply for an account online?
You may access several downloadable loan applications from our Resource Center. We do not offer online opening of loan or deposit accounts at this time; however, you may open the applications and complete them from the privacy of your home or office computer. You may then print them, and bring them into the branch nearest you to sign and submit.
How much will I be charged if my account has a negative balance?
Your account will be accessed a fee of $35 for each paid item and $35 for each returned item.
What is Overdraft Privilege™ and how does it work?
Overdraft Privilege™ is a service we extend to all consumer checking customers who maintain a positive balance the first 30 days from account opening. It allows you to overdraft your account up to the limit provided with your checking account. Check with your local branch regarding the limit on your account type.
What is the difference between Overdraft Privilege™ and Security Protection?
Security Protection is actually a loan product. You can protect yourself from embarrassing overdrafts, and save the fees associated with merchants as well with Security Protection. Based on credit approval, a credit limit would be available for when you have to write a check and the funds are not yet available in your account. Drafts are made in $100 increments to cover checks that are written. Overdraft Privilege™, however, is not a loan product. And you are not charged interest for the time that you use Overdraft Privilege™ funds. The normal overdraft fees apply with Overdraft Privilege™, but your checks are paid to the merchant.
Can I get some type of overdraft protection?
You can protect your account from going into the overdraft by establishing a Security Protection Account from First US Bank (subject to credit approval).
Will I be penalized if I close my certificate of deposit before it matures?
If you close your certificate of deposit before it matures, we will normally charge a penalty based on the term of your certificate. If there is enough accrued interest to cover the penalty, we will deduct the penalty from it. If not, we will deduct the remainder of the penalty from the principal amount.
How can I fight identity theft on my personal and financial files?
One way you can fight identity theft is by monitoring and reviewing your credit report. You have the right to a free credit report from AnnualCreditReport.com or 877-322-8228, the ONLY authorized source under federal law, or request your report through the mail. Free credit reports requested online are viewable immediately upon authentication of identity. Free credit reports requested by phone or mail will be processed within 15 days of receiving your request. In addition, use caution when entering your personal information online, and make sure you use secured websites. Never give personal information to someone over the phone.
Sign new cards immediately. Store them safely - They are money! Only carry the cards you will use. Don't write your PIN # on your card. Shred documents that show your account number before discarding. Don't give your card number over the phone, unless you initiated the call. Remember to get your card and receipt after a purchase, and double check they are yours. Notify the credit card company immediately if your bill is incorrect, or your card is lost or stolen. Check your bill carefully, and notify the credit card company if you don't receive it on time.
Don't write your credit card number or social security number on a postcard or the outside of an envelope. Collect your mail promptly. Have your mail held if you'll be out of town or on vacation. Use collection boxes or the post office for outgoing mail if your home mailbox is unattended. Opt-out of receiving pre-approved credit offers and annoying telemarketer calls by registering at www.donotcall.gov and online registration to stop solicitations.
Never e-mail your credit card number or social security number. Check carefully that you are on the page you intend, and not an imposter's page. Use only secure web pages for online ordering. (You should see the padlock on the status bar of Microsoft Internet Explorer pages where a credit card number is requested.) Online credit applications which request a social security number should also be on secure web pages. (Look for the padlock.) Use anti-virus and personal firewall software, and keep it updated.
How does my credit score affect me being able to open a checking or savings account?
We have a minimum credit score requirement for opening a checking account of 625. Equifax is our preferred vendor for credit reports. It is important to keep your credit report as clean as possible by making payments on time, securing only a responsible and limited number of credit lines, and monitoring your credit to fight identity theft. You have the right to a free credit report at AnnualCreditReport.com or 877-322-8228, the ONLY authorized source under federal law. "Take me to the authorized source."
*Frequently Asked Questions - Bank Services*
Does First US Bank charge for Online Bill Pay?
No. Online Bill Pay is absolutely free and very user friendly. Visit our Online Bill Pay page to learn more or apply. To download an Internet Banking application, click here.
Click here to view our online security agreement.
What are my options regarding transferring funds between First US Bank accounts?
The easiest and quickest way to transfer funds between First US Bank accounts is through our convenient internet banking service. You can also transfer monies between accounts by dialing our automated line at 1-800-467-4416 or 334-636-0807 in the Thomasville area. You may also complete a telephone transfer during business hours ($5.00 fee) or by visiting one of our banking offices. If you would like to initiate a recurring automatic funds transfer, please drop by any branch to sign up.
Why am I limited on the dollar amount of purchases I can make each day with my debit card?
The daily limit for Point of Sale (POS) and ATM transactions is determined by the type of checking account that you maintain at First US Bank. First US Checking and First Advantage Checking have a daily limit of $500. The FirstLink line checking accounts and First Checking both have a daily limit of $750. This is a security measure for your protection. If you have any questions, contact your loan officer.
How long will it take me to get my ATM/CheckCard?
Under normal circumstances, you should receive your ATM/CheckCard within 7 to 10 business days.
How do I make sure my CheckCard is secure?
We are protected by a fraud prevention company that constantly monitors all transactions made by the cardholder, alerts us, and possibly you, immediately of any potentially fraudulent activity.
Can I view my transactions at any time?
Yes, with internet banking, you have “real-time” access to your account information 24 hours a day, 7 days a week! "Real-time" means that you are able to see transactions as they are processed through your account.
Can I wire money?
Customers can wire money through any of our local branches. The fee for US wire transfers is Incoming $15.00 and Outgoing $30.00. The fee for international wire transfers is Incoming $25.00 and Outgoing $50.00.
Commercial wires and ACH (Automated Clearing House) services are available through our Cash Management Services portal. Contact your local branch to get signed up!
Can I change my Personal Identification Number (PIN) on my CheckCard?
Yes, your PIN can be changed, but the change will NOT take place immediately. You can go to your local branch and fill out a form to have your PIN reset, or you can call in, and after verification your PIN can be reset. You can also change your PIN at the ATM, but you must know the original PIN to do so.
I have lost my First US Bank CheckCard. What do I do?
As soon as the card is detected missing contact your local branch during normal business hours. For after hours and weekends, call 1-866-546-8273.
How do I access my account?
Using internet banking and our mobile banking app, you can access most of your checking, savings, CD, IRA, loan and line of credit account information. You may also transfer funds and pay bills online. To download an internet banking application, click here.
Of course, you may also visit any one of our many locations in Southwest and Central Alabama or 12 ATMs.
What is telephone banking?
Telephone banking is a free service at First US Bank to assist you with your banking needs over the telephone. Our free automated banking system is a fast and convenient way for you to do your banking with First US Bank. For your initial PIN (personal identification number) assignment, please contact your nearest branch. It is accessible 24 hours a day, 7 days a week and allows you to check your balance, transfer funds, change your PIN, and much more. You may call us at 1-855-736-3008.
I have forgotten my First US Bank internet banking password. What should I do?
If you have forgotten your internet banking password you may request that it be reset, by clicking on the “reset my password” button at the login screen. Your new and temporary password will be emailed to you. You will then be asked to reset it to something only you will know.
Can commercial customers use internet banking?
Yes! We offer a full range of cash management services and loan products for businesses of all sizes. In addition to free Bill Pay, we offer internet banking providing real time online access to account information through the Internet. "Real time" means that most transactions post to your account as soon as they are received for processing.
How do I change my address?
Please visit any of our offices to take care of this change.
Does your bank accept Powers of Attorney?
We will accept a durable Power of Attorney drawn by your attorney; however, it will not become effective until it has been reviewed and approved by our Legal Counsel.
*Frequently Asked Questions - About Us*
How do I find the nearest First US Bank office?
First US Bank has banking offices in 15 communities across Southwest and Central Alabama, click Here to check our map of locations.
Is First US Bancshares, Inc. stock publicly-traded?
First US Bancshares, Inc. is the bank’s holding company. Its stock is publicly traded on NASDAQ (Symbol: FUSB). For more information, visit our Investor Relations section or write to: First US Bank, 131 West Front Street, Thomasville, AL 36784.
Is anyone able to access my personal information?
Does First US Bank sponsor community events?
Absolutely. We are passionate about supporting community causes with time as well as money.
We currently have more than 150 employees involved in one or more community organizations; 83 selected because of their financial expertise; 91 of these organizations provide services to low and moderate income individuals and families. We contribute to these organizations throughout the state by way of time commitment by our staff, financial contribution, in-kind contributions, as well as radio air time to promote causes and events.
It is our way of giving back to the communities we serve.
Why should I bank with First US Bank?
We value these strengths as we serve you:
Our more than 175 employees have combined experience of nearly 2000 years.
First US Bank maintains a capital to assets ratio well above that required by regulatory agencies. Please call your local branch for more information.
Our employees and officers are personally invested in our bank and, combined, make up one of the bank’s largest shareholders.
Our CDARS® program gives every depositor an opportunity to be fully insured (up to $50 million). Ask us today.
Not one depositor has ever lost a dollar in a community bank.
(Source: Community Bankers Association of Alabama).
Your FDIC insured deposits are safe, sound and secure – Just like we have been since 1952.
Always have been. Always will be.
Your longtime bank is rock solid.
Will my information be kept private and not be shared with another company?
What is Phishing?
Phishing is the act of sending an e-mail to a user falsely claiming to be an established legitimate enterprise in an attempt to scam the user into surrendering private information that will be used for identity theft. The e-mail directs the user to visit a website where they are asked to update personal information, such as passwords and credit card, social security, and bank account numbers, that the legitimate organization already has. The website, however, is bogus and set up only to steal the user’s information.
What are your banking hours?
To find out hours at each location, visit our Locations and Hours page.
You can bank online with our mobile banking app, internet banking, and free bill pay 24 hours a day from anywhere you have access to the internet. You can also access telephone banking 24 hours a day, 7 days per week.
FDIC Security Questions
Visit the FDIC website for articles on what consumers can do and what banks are doing to prevent online fraud. You will be re-directed to an external link when you click www.fdic.gov.