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Deposit FAQs

Are First United Security Bank deposit accounts FDIC insured?

The standard insurance amount is $250,000 per depositor, per insured bank for each account ownership category.  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. For details on deposit insurance coverage go to www.fdic.gov/deposit/deposits.

Account Type Amount:
Single Account:  
Husband $250,000
Wife $250,000
Joint Accounts:  
Husband and Wife $500,000
Pay on Death/POD Accounts:  
Husband and Wife POD to 3 children $1,050,000
Revocable Trust Accounts:  
Husband in trust for Wife $250,000
Wife in trust for Husband $250,000
Total Insured by FDIC: $2,550,000

 

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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 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 you can complete at your own pace which 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: http://www.fdic.gov/consumers/consumer/moneysmart/mscbi/mscbi.html

 

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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 3 months to five years and interest earned normally increases incrementally based on the length of the term.

 

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I need a low cost checking account. What does your bank offer?

Our new Reward checking-Powered by BancVue might be right for you. Enjoy cd-like rates, free ATMs nationwide with no minimum balance and no monthly fee. We’ll reward you with these great benefits for using some of the bank’s electronic banking benefits. Ask us about Reward checking today. Member FDIC. Please visit our Checking Accounts section for more details!

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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.

 

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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.

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Do you have a checking account that offers benefits to the mature community?

Yes! We offer the Advantage 50 Club account for customers who are 50 or older. Benefits of membership include no monthly service fee, free personalized checks, special club privileges, and many other free services, some of which activation may be required. Interest is also earned daily and credited monthly for minimum account balances. Please visit our Checking Accounts section for more details.

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What are some tax advantages of an IRA?

Two tax advantages of an IRA are that:

  • Contributions you make to an IRA may be fully or partially deductible, depending on which type of IRA you have and on your circumstances, and
  • 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.

Click here for IRS Guidelines for IRAs.

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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 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.

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Are certificate of deposit and savings accounts my only investment options?

Not only does First United Security 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 to contact our representatives at NBC Securities, and they will be in touch with you directly.

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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. Contact one of our branch representatives to share your needs to receive options that may work best for you.

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How do I stop payment on a personal check?

You can request a stop payment on a personal check by calling (334) 636-5424, or by visiting or calling the branch nearest you. Within 14 days of the time you call, you will need to visit the branch to sign the 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. A stop payment will be effective for six months. A confirmation notice will be sent to you. We ask that you contact us if any information on the confirmation is not correct. For further information regarding stop payments, stop payment fees, or bank and customer responsibilities please refer to Fees and Service Charges.

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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 financial institution's 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 United Security Bank’s nine digit routing number is 062103592.

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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 specific 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.

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What routing/transit number should be used for direct deposits to First United Security Bank?

The main routing/transit number for First United Security Bank is 062103592. This number should be used for wire transfers and direct deposits.

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How much will I be charged if my account goes in the overdraft?

Your account will be assessed a fee of $30 for each paid item and $33 for each returned item.

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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. For a chart of protection limits, visit our Checking Services section.

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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.

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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 United Security Bank (subject to credit approval).

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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.

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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 at www.annualcreditreport.com, or 877-322-8228 or request your report through the mail. The only authorized source under federal law. Take me to the authorized source. 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 used secured websites.  Never give personal information to someone over the phone.

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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 from AnnualCreditReport.com or 877-322-8228. Take me to the authorized source.

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