Welcome, we're glad you're here! At IECU, we pride ourselves on being friendly, knowledgeable, and a partner in our community. We want to ensure this process is seamless for you. On this page, you can find common questions, forms, general information, and some helpful links.

We are happy to answer any questions you many have during this process and beyond. If you can't find what you're looking for on this page, don't hesitate to send us a message, give us a call at 217-528-2642, or stop by our branch location.

Membership Mailings

Notice of Membership Meeting - Mailed 6/13/2022
- Letter from the CCSECU Board
- Notice of Special Meeting
- Merger Ballot
- CCSECU Financials
- IECU Financials
- IECU and CCSECU Combined Financials
Welcome Packet from IECU - Mailed September 2022

Frequently Asked Questions

Merger Information

Illinois Educators Credit Union Information

General Membership Information

Savings Account Information

Checking Account Information
- Will my checking account change?
- When will I get a new IECU debit card?
- What do I need to do as the merger date approaches?
  - Debit Card
  - Bill Pay
- Will I receive a free paper statement for my checking account?
- The following will continue:

Digital Banking, Audio Response and Mobile Services

Loan Information

VISA Credit Card Information

Certificate Information
- Will any of the terms of my accounts change?
- What happens when my certificate matures?

IECU Products & Services

Banking can be simple and we want to prove it. We offer numerous accounts and products to give you options throughout your financial career. As a result of the merger, you will already have an account with us. That's the first step!

Thank You for Joining Our Team!

At Illinois Educators Credit Union, we're delighted to have you here. We look forward to working with you in the future to meet your financial needs. Wherever you happen to be in life, let us help you bank, learn and excel.

If there is anything we can do to help, please let us know.

Merger Information
- Why is this merger taking place?
  - As outlined in the announcement from the Champaign County School Employees' Credit Union board, the primary reasons for the merger are to:
    - Provide continued value of credit union membership;
    - Provide enhanced technology for members and staff; and
    - Address challenges of staffing, competition, regulation, and growth.
- When will the merger take place?
  - The effective date of the merger is projected to be August 1, 2022.
- What does the merger technically mean to me as a Champaign County School Employees' Credit Union member?
  - The merger will result in your membership and accounts being transferred to the Illinois Educators Credit Union (IECU). Champaign County School Employees' Credit Union assets and liabilities will be combined with IECU and Champaign County School Employees' Credit Union will cease operation as a credit union.
- When will Champaign County School Employees' Credit Union members vote on the merger?
  - Champaign County School Employees' Credit Union members will vote at a special membership meeting at 6:00 pm on Thursday, July 28, 2022 at CCSECU's office, located at 1203 S. Mattis Ave., Champaign, IL.
- When will IECU members vote on the merger?
  - It is not necessary for IECU members to vote. The IECU Board of Directors has already voted in favor of the merger, as has the Champaign County School Employees' Credit Union Board of Directors.
- Will Champaign County School Employees' be represented on the IECU Board of Directors?
  - Yes, three Champaign County School Employees' Credit Union board members plan to serve on the IECU Board.

Illinois Educators Credit Union Information
- What are the hours and locations of the IECU branches?
  - IECU currently has one branch in Springfield, IL located at 3101 Montvale Drive, Springfield, IL. Lobby hours are Monday - Friday 9am-5pm & Saturday 9am-12pm. Drive Up hours are Monday, Wednesday, Thursday and Friday 8am-5pm, Tuesday 9am-5pm and Saturday 9am-12pm.
- Where are IECU ATMs located?
  - IECU has an ATM at its Springfield branch and will soon be installing an ATM at the CCSECU branch on S Mattis Ave. In addition, we partner with over 50,000 ATMs nationwide. Click here to find locations.
- What are the phone numbers for IECU?
  - Phone: (217) 528-2642
  - Toll-free 800-697-7728
  - Fax: (217) 241-9696
- What is IECU's Routing Number?
  - 271189433
- What additional products will be available with IECU?
  - You'll find many additional products available to you, including:
    - Expanded Checking Account Options
    - VISA Credit Card with Cash Rewards
    - Expanded Certificate Terms
    - Save to Win Certificate
    - Money Market Accounts
    - Home Mortgages
    - Home Equity Loans
    - Lines of Credit
    - And more!
- What additional services will be available with IECU?
  - You'll find many additional services available to you, including:
    - Expanded Digital Banking Functionality
    - Mobile App
    - Real Time Remote Deposit
    - Expanded ATM access - Locally and Nationally
    - eStatements
    - Free Online transfers to and from other Financial Institutions
    - International Wire Transfers
    - Additional Branch located in Springfield, IL
    - Nationwide Shared Branching Network of over 5,000 Branches

General Membership Information
- Will my account number change?
  - No! Your account number will stay the same.
- If I already have accounts at IECU, will my Champaign County School Employees' Credit Union accounts be combined with them?
  - Your Champaign County School Employees' Credit Union accounts will migrate to a new account and will be separate from any existing IECU accounts. You may request that accounts be combined after the merger takes place.
- Will Champaign County School Employees' Credit Union be open during this process?
  - Yes, Champaign County School Employees' Credit Union will strive to remain open through this entire process.
- Will the Champaign County School Employees' Credit Union Branch remain open after the merger?
  - Yes. After the merger, CCSECU will have support from IECU to ensure the credit union is consistently open and available to serve our members.
- Do I have to sign any paperwork to maintain my accounts?
  - No, your current account agreements and loan documents are sufficient. Now is a good time to review contact information, any joint owners, and beneficiaries for all your accounts.
- Do I have to re-enroll for Payroll Deductions?
  - No, your current Payroll Deduction that goes to Champaign County School Employees' Credit Union will automatically be directed to your new IECU account(s).
  - However, to ensure a timely deposit into your new IECU account(s), you may want to notify your employer and update your direct deposit information to IECU's routing number (271189433).

Savings Account Information
- What is IECU's Dividend Rate on Savings?
  - Your minimum Savings Balance (Share) at IECU will be $5, rather than $20. IECU currently pays .025% APY on Regular Savings. Dividends are paid quarterly.
- Will there be changes to my Vacation Club account?
  - The rate will be based on IECU's Vacation Club Account rate and dividends will continue to be paid monthly.
- Will there be changes to my Christmas Club account?
  - Funds in the account will be transferred to Share Savings on October 15 each year. The rate will be based on IECU's Christmas Club account and dividends will compound daily and be paid annually. You can withdraw funds and close your Christmas Club at any time.

Checking Account Information
- Will my checking account change?
  - Yes. Your Champaign County School Employees' Credit Union Checking Account will be converted to an IECU Checking Account.
  - IECU Checking is a totally free account. Benefits include:
    - Free debit card with online card controls
    - Free Online Bill Pay
    - Free Digital Banking and Mobile App
    - Free transfers to/from your external accounts
    - Real time mobile check deposit
    - Free electronic statements
    - Digital Wallet (Apple Pay, Google Pay, and Samsung Pay)
    - And more!
- When will I get a new IECU debit card?
  - You should receive your new IECU debit card on or by September 15, 2022. Your current CCSECU Debit Card will continue to work until September 30, 2022. You must activate and use your new IECU card on and after October 1, 2022. Cards will be sent to your address on record with Champaign County School Employees' Credit Union. If you have not received your IECU Debit Card by September 15, 2022 - please let us know immediately by calling 217-528-2642
  - Most debit card transactions will post immediately to your checking account, providing for an up-to-date balance being shown in Digital Banking or on the IECU App.
- What do I need to do as the merger date approaches?
  - Debit Card
    - Watch your mail for an IECU debit card and instructions, which should arrive in the mail in September.
  - Bill Pay
    - Bill Pay will need to be re-established in IECU Digital Banking
    - Watch for specific instructions in the mail from IECU
- Will I receive a free paper statement for my checking account?
  - No, for checking accounts, IECU charges $4 per month for paper statements, unless you are over the age of 67. This fee will be waived for your September statement. Please enroll in eStatements in IECU's Digital Banking system in order to avoid this charge.
- The following will continue:
  - Automatic payments - Automatic payments currently set up with Champaign County School Employees' routing number and checking account number will continue to post (ACH transactions).
  - Checks - Champaign County School Employees' checks will continue to clear for several months after the merger. Feel free to use your CCSECU checks until they run out. New checks will need to have IECU's routing number (271189433) in the MICR line. To help facilitate this transition, we will be sending you a new book of checks, which you can start using on October 1, 2022. If you have not received your new check book by September 15, 2022 - please let us know immediately by calling 217-528-2642.

Digital Banking, Audio Response and Mobile Services
- How can I access my accounts online or on my phone?
  - Access Digital Banking from IECU's home page at IECUmember.org or download our mobile app "IECU" for Apple or Android.
  - To register for Digital Banking, all you'll need is your IECU Account Number, the last 5 digits of your Social Security Number, and an active email address on file. You'll be prompted to create a new username and password, and then you're in!
- Does IECU Digital Banking have the same functionality as Champaign County School Employees' Credit Union Home Banking?
  - Yes, and you will have additional options in Digital Banking with IECU, including:
    - Mobile app that seamlessly transitions to a desktop or tablet
    - Bill Pay
    - Person to Person transfers
    - Transfers to/from your external accounts
    - Account alerts
    - Real-time mobile check deposit
    - Enhanced security features
    - Online check images
    - And so much more!
- How can I ensure my scheduled transfers or payments continue to process?
  - Any existing scheduled transfers or payments will need to be rebuilt. This can be done easily via IECU's Digital Banking App under "Transfers".

Loan Information

Will there be any changes to my loans?
- Good news! Your current loan rate, payment, due date, and terms will remain as is. Any new loans or refinances will be based on IECU's rates and terms in effect at the time of the loan.
How do I make payments on my loans?
- You have a number of payment options, including:
  - Schedule a one-time or recurring payment in IECU Digital Banking from any of your IECU accounts
  - Schedule a one-time or recurring payment in IECU Digital Banking from your accounts elsewhere
  - In person or by mail
Do I need my coupon book to make my loan payment?
- Nope! None of your payment options require a loan coupon. You may make a payment at either of our Champaign or Springfield branches or, even better, at your fingerprints with IECU Digital Banking!

Do I have to change my auto insurance to show IECU as lienholder on my loan?

We recommend that you notify your auto insurance agent of the merger. Let them know that the lienholder on your loan is now:

Illinois Educators Credit Union

Insurance Tracking

3101 Montvale Dr.

Springfield, IL 62704

Fax: (217) 241-9696

Toll Free: 800-697-7728

What coverage will satisfy insurance requirements?
- Insurance will need to have full coverage comprehensive and collision insurance with no more than a $1000 deductible and IECU listed as lienholder.
Does IECU offer Skip Pay options on loans?
- Yes, There is a $35.00 non-refundable processing fee per loan to participate in the skip program. A maximum of two skip payments are available per loan each calendar year with the lifetime total not to exceed more than two per year of the original loan term. VISA, Mortgage, Home Equity, any loan with a term longer than 84 months, and any loan in an active payment arrangement are ineligible for skip payments.

VISA Credit Card Information
- Will I get a new VISA credit card?
  - Yes. Your current balance will transfer to an IECU VISA Rewards card. That balance will be subject to the existing CCSECU rate; however, new purchases will qualify for automatic cash back and will fall under IECU's terms and conditions. Once your existing CCSECU balance is paid in full, the CCSECU rate and term cease to be available.
- How will I access my VISA credit card information?
  - Once you set up access to IECU's online banking, your VISA credit card information can be found inside your account.
- Can I make a payment on my Champaign County School Employees' Credit Union VISA credit card at an IECU branch?
  - Not yet. Once the system merger is complete, then you can. Until then, continue to make payments as you currently do.
- How do I report fraudulent transactions on my VISA credit card?
  - While you are still using your Champaign County School Employees' Credit Union VISA credit card, report any fraudulent transactions by calling 1-800-322-8472.
- Will the automatic payments for my CCSECU VISA credit card continue?
  - You will need to recreate your automatic payments so they come to IECU and your new account number.
- Can CCSECU VISA credit card Rewards be added to my new Illinois Educators Credit Union VISA?
  - No. You will be given several months to redeem your existing CCSECU VISA credit card reward points.
- What will happen with my Champaign County School Employees' Credit Union VISA after the merger?
  - Following the membership vote, we will work to combine our processing systems. Once that is complete, you will receive your new IECU VISA credit card. We will give plenty of notice of when to activate your new card and when to stop using your CCSECU card.

Certificate Information
- Will any of the terms of my accounts change?
  - Rates and terms on certificates will not change until the next maturity date.
- What happens when my certificate matures?
  - At maturity, Champaign County School Employees' Credit Union certificates will be renewed into an IECU Share Certificate of the same term. You will receive a notification of maturity a month before your certificate matures.
  - Please note that IECU Certificates pay dividends monthly and at maturity.

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