BCU is excited to welcome GEICO associates to the Credit Union family! Beginning August 17, 2020, you will be eligible for BCU membership. For now, please feel free to check out the future product and service offerings that will be available to you, helpful FAQs, and our collection of financial well-being resources. We can’t wait to serve you!

Geico Credit Union a division of BCU

Timeline graphic

What happens next?

There will be ongoing communication to keep you informed about how the merger is progressing. BCU and GFCU have completed their due diligence, received regulatory approval, and gained an affirmative vote from the membership of GFCU. We expect that these efforts will be successful and result in a more powerful combined organization that creates more value than GFCU could have possibly generated on our own - for our staff, the current membership, and all future members. Until the transition date, GFCU and BCU will continue to operate separately. The merger will be finalized August 14, 2020. Our goal is for you to experience no interruption in service, and for you to be excited about a new and improved GEICO Credit Union.

Why this merger benefits members

All existing GFCU branch locations will remain open. Additional branch locations are planned in Tuscon and Indianapolis.

Convenience

Members will have access to a 24/7 contact center, expanded branch operations, and leading-edge digital banking.

More Value

By taking advantage of economies of scale and reduced operating expenses, we can pass these savings along to members with a higher return on savings, lower rates on loans, and reduced fees.

Technology

Improved technology for associates and members, something that requires significant investment and is in high demand, will significantly improve at our combined size.

Employee/Member Service

Being part of a team of more than 600 employees with more resources and improved training, affords our staff the opportunity for personal development and to create extraordinary experiences for all members.

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EMPOWERING PEOPLE
TO DISCOVER FINANCIAL FREEDOM

View Welcome Guide

Membership

When will my GEICO Federal Credit Union (“GEICO FCU”) membership be moved to Baxter Credit Union (“BCU”)

We will begin transitioning your GEICO FCU account(s) immediately after close of business on August 14, 2020 merger date. New shares and loans (if applicable) will be opened as outlined in the Important Information Regarding the Merger of GEICO Federal Credit Union (GEICO FCU) and Baxter Credit Union (BCU) – Notice of Change in Terms and other Notices of Change in Terms for Credit Cards, Home Equity Lines of Credit and Mortgages (collectively known as “CITs”). Please review the various products and services sections below for details.

Will my GEICO FCU Branch name change?

Yes, after the August 14, 2020 merger date all GEICO Federal Credit Union (GEICO FCU) Branches will be called GEICO CU, a Division of BCU (GCU).

Do I need to initiate the transfer of my GEICO FCU membership?

No, there is no action required on your behalf. GCU will automatically transfer all of your open GEICO FCU share and loan accounts into similar share and loan products, and open new Debit and Credit card(s), if applicable, on your behalf on August 14, 2020 as outlined in the CITs. There may be actions you are required to take regarding direct deposit, bill pay, automated transfers, activation and more. Please see applicable sections in this FAQ.

How do I access my accounts on or before August 17, 2020?

You can continue to access your GEICO FCU accounts via Branch locations through close of business on August 14, 2020. Access via GEICO FCU online banking will be available through August 10, 2020 and thereafter access will be “read only” until August 17, 2020. Your current GEICO FCU Debit/ATM card will be available for use until August 16, 2020, but during this period there will be a $205 total daily activity limit.

Your account funds will be available with your new GCU Visa® Debit card on August 17, 2020. You will be able to access your new account in-person via a Branch, online at GEICOCU.org or by calling us at 800-388-7000.

Will I still have access to the ATMs?

Yes, you will continue to have access to ATMs in the Allpoint/Star network as you do today. You will also gain expanded access to additional networks such as Sum, Alliance One, and Co-op. All existing GEICO FCU ATMs in all Branch locations will remain on-site and accessible, including the Tucson, AZ, Indianapolis, IN and Buffalo, NY locations.

Will I still have access to a Branch?

Yes, the ten existing Branch locations will remain open. Plus, you will now have access to 19 additional Branches. The addresses for all public branches are listed in the Notice of Special Meeting of Members and Merger Ballot and will be available on the website on August 16, 2020. We plan on growing to serve members even better by adding two additional Branches in 2021 at existing GEICO facilities. Please visit GEICOCU.org, select ATMs & Locations and enter the zip code to find the most convenient location to serve your needs.

What if I want to move my accounts before August 14, 2020?

We are so excited for you to join the GCU family. However, your account(s) will automatically be moved to GCU on August 14, 2020. You will not be able to transfer your accounts to GCU prior to that date.

Can my family join?

Yes, once you become a member with GCU, membership eligibility extends to your family, too! Eligible family members include immediate or extended family of an existing GCU member related by blood, marriage, fostering or adoption, including spouses, parents, children, siblings, domestic partners, grandchildren, grandparents, aunts, uncles, nieces, nephews, and cousins.

What happens if I elect to do nothing before August 14, 2020?

GCU will set up new membership account(s) on your behalf, and your existing GEICO FCU balances will be transferred automatically into a similar share or loan type as outlined in the CITs. Shortly before August 14, 2020, GCU will be sending you more detailed account information. Please refer to the specific topic on this document for additional details regarding the transition of specific shares, loans and services.

What if I do not want to move my account(s) to GCU?

Contact GEICO FCU via the Contact Us link on GEICOFCU.org or visit a Branch to close your account and pay off any outstanding loans and/or credit card balances. Any open account with a balance as of the close of business on August 14, 2020 will be transferred to GCU as outlined in the CITs.

When and how will I be notified of my new GCU account number?

You will receive a welcome letter, starter checks (if applicable), and your new GCU membership account number shortly before the merger date of August 14, 2020.

How will I receive my GCU Account Statements?

As a GCU member, please note that your monthly account statement(s) will now have a different appearance and may be mailed on a different day. Statements will be mailed to you at the address currently on file for your account(s). You may also elect to receive your statements electronically after August 16, 2020 by enrolling in eStatements. Please refer to the Online and Mobile Banking FAQ section for information on how to access your account online or via the Mobile App.

When will I receive my last GEICO FCU Account Statement?

You will receive your last GEICO FCU account statement for the period August 1, 2020 through August 14, 2020 in late August. You will also receive a statement from GCU for the remainder of your August account activity in early September.

Will I still have access to the Telephone Teller system?

Effective August 15, 2020, GEICO FCU’s current Telephone Teller system will be disabled. Beginning August 17, 2020 you will have access to BCU’s Telephone Teller system. In order to access, you will need to set up a four digit PIN and be enrolled in Digital Banking. To set up a PIN, contact us via Message Center in Digital Banking or call us at 800-388-7000. After setting up your PIN, dial 800-944-8143 and follow the prompts with your request.

Checking Accounts

What will happen to my GEICO FCU checking account?

At the close of business on August 14, 2020 your checking balance will be transferred to a GCU PowerPlus™ Checking account. Any account listed with a minor as a primary account holder will be transferred to a GCU Go Checking account. Please refer to the CIT or visit GEICOCU.org for additional information on GCU account features, service charges and fee disclosures.

What will happen to the outstanding checks from my GEICO FCU checking account on August 14, 2020?

Authorized outstanding checks written from your GEICO FCU account prior to August 14, 2020 will be allowed to clear for up to six months from your GCU account. Checks attempting to clear after February 14, 2021 will be returned.

When will I receive my GCU checks?

Shortly before August 14, 2020 you will receive a welcome packet that will contain starter checks for your new GCU account. You may order additional checks after August 17, 2020 either through GCU’s Online Banking or by calling us at 800-388-7000.

How do I obtain a copy of a GEICO FCU check or statement?

Copies of GEICO FCU checks will not be available in GCU’s Online Banking. To obtain copies of checks written prior to August 14, 2020, or to request a printed copy of a check or statement, contact GCU via the secure the Message Center within Online Banking or call us at 800-388-7000 after August 16, 2020.

Overdraft & Courtesy Pay

What will happen to my GEICO FCU Overdraft Transfer Protection?

You will not need to set up share-to-share Overdraft Protection Transfers with GCU as checking overdrafts will be automatically covered if there are enough available funds in your other savings or money market account(s). GCU only charges fees for share-to-share transfers made between your credit union accounts for each transaction that exceeds the monthly transfer limit (6) on savings or money market accounts.

Please refer to the CITs or visit GEICOCU.org for additional information on GCU’s overdraft services, account features, service charges and fee disclosures.

What are the Courtesy Payment Service practices that come with the account?

For qualifying members, GCU may authorize and pay overdrafts for checks and other transactions made using the checking account number and automatic bill payments. While there is no charge to authorize us to pay your overdrafts, under our Courtesy Payment Service Practices we will charge a $29.00 each time we pay an overdraft. However, you will not be charged for any transaction that brings your account negative $20 or less. In addition, there is a limit of three (3) Courtesy Payment Fees that the CU will charge per day, per account. Courtesy Payment Service is a discretionary service which means we do not guarantee that we will always authorize and pay any type of transactions. For additional information on the Courtesy Payment Service terms, conditions, and qualifications, please refer to the Consumer Member Service Agreement enclosed.

GCU does not authorize and pay overdrafts for ATM Transactions and Everyday (individual non-recurring) debit card transactions unless you ask us.

What are the eligibly requirements to receive the Courtesy Pay Service that come with the account?

Courtesy Payment Service is available on Checking and Money Market accounts open at least 30 days and in good standing.

Good standing requires (at a minimum):

  • A minimum deposit of $200 in a Checking or Money Market account
  • Making regular deposits consistent with your past practices
  • Depositing an amount equal to or greater than the amount of discretionary Courtesy Payment extended to the account and bringing the account to a positive balance within a 20-day period
  • You are not in default on any loan or other obligation to GCU
  • You are not subject to any legal or administrative order or levy

How do I add Courtesy Payment Service to my GCU account to cover individual, non-recurring debit card and ATM transactions to my GCU accounts?

If you wish to add GCU’s Courtesy Payment Service for one-time (individual, non-recurring) debit card and ATM transactions, you must provide consent (Opt-In) for this service. Please contact GCU via secure Message Center within Online Banking at GEICOCU.org, contact us at 800-388-7000 or visit a Branch to Opt-In to Courtesy Payment Service after August 16, 2020.

What are the Courtesy Pay Limits at GCU?

Courtesy Payment will allow you to overdraw your available account balance from up to $200, and in certain cases, up to an absolute maximum of $1,500 including any service charges.

Attempting to exceed the maximum overdraw limit may result in a check(s) being returned to the payee or denied Debit Card purchase or ATM transaction. A NSF (non-sufficient funds) fee may be incurred.

The limit is dynamic and will change from time to time based on your individual GCU account transaction history. If you believe an overdraft situation is likely, visit your local Branch, contact Member Relations at 800-388-7000 or submit a secure message through Message Center to confirm your specific limit. For detailed information about this topic please refer to our Consumer Member Service Agreement included with this packet.

Direct Deposit

Will my automatic direct deposit, such as payroll, automatically move to my GCU account?

No, automatic deposits to your GEICO FCU account will not be automatically transferred to your new GCU account. Your direct deposit information will need to be updated through your employer (or originator) using your new GCU account number and routing number 271992400. Specific account numbers will be mailed to you shortly before August 14, 2020.

Will I receive a paper payroll check from my employer during this time?

This depends on your employer. It is possible that a direct deposit may be returned if your account information and routing number are not updated in a timely manner. Please contact your employer with questions and timelines required to update your direct deposit account information.

Transfers/ACH (Automatic) Debits/Bill Pay

What will happen to the automatic debit that I set up from my GEICO FCU account to pay my GEICO FCU loan(s)?

GCU will set up the same automatic transfer from your new GCU account. Please call us at 800-388-7000 after August 16, 2020 if you have questions or would like to confirm.

What will happen to the ACH debits (automatic payments) I have set up on my GEICO FCU account? For example, utility payments or other service providers.

You will need to re-establish any automatic ACH debits (utility payments or other service providers) with those Payees using your new GCU account and routing number 271992400. Please reference the information that will be mailed to you shortly before August 14, 2020.

Will my GEICO FCU Bill Pay payees transfer over or will I need to re-establish them?

Your Bill Pay payees will transfer over to GCU. Please verify both your payee and scheduled payment are reflected accurately on August 17, 2020.

Will I need to adjust my GEICO FCU Bill Pay information to ensure there are no issues with my scheduled payments?

Any GEICO FCU Bill Pay transaction scheduled prior to August 14, 2020 will be completed by GEICO FCU. Payments scheduled after August 14, 2020 will be processed by GCU. To avoid any interruption of service, please login to your GEICO FCU Bill Pay prior to August 10, 2020 to reschedule any recurring payments. In order for your payees and payments to transfer over, you will not be able to adjust your payments within GEICO FCU Bill Pay after August 10, 2020.

IRA Accounts

What will happen to my GEICO FCU IRA?

Your GEICO FCU IRA will be transferred to a GCU IRA on August 14, 2020 as outlined in the CITs. The automatic distributions that you have established on your GEICO FCU IRAs will transfer to the new GCU IRA. GCU will be sending an IRA Beneficiary Designation form to your current address on file in our records between August 16, 2020 through August 30, 2020. Please review, complete and return the form to GCU as soon as possible to ensure we have your most recent IRA beneficiary elections.

Who do I contact if I want to make a transaction on my current GEICO FCU IRA account?

You may contact GEICO FCU with questions about your current GEICO FCU IRA accounts until the end of business on August 14, 2020. Thereafter, please contact GCU and we will be happy to help you with your IRA accounts.

What IRA related IRS tax forms can I expect from GEICO FCU and GCU?

GEICO FCU will provide you with your 5498 (Contributions & Fair Market Values) tax form in July 2020. This will be the last IRS tax form you will receive from GEICO FCU related to your GEICO FCU IRA.

GCU will provide you with your 1099-R (Distributions) and 5498 (2021 RMD notification for members age 72 and older) tax forms for the entire 2020 tax year in January 2021. GCU will also provide you with your 5498 (Contributions & Fair Market Values) tax forms for the entire 2020 tax year in May 2021.

Please note you will NOT receive a 2020 1099-R tax form for the IRA transfer from GEICO FCU to GCU given this is not an IRS reportable event.

What if I need to request a correction on my GEICO FCU 2019 IRS IRA tax forms?

You can request a correction by contacting your local GEICO FCU Branch until the end of business on August 14, 2020. Thereafter, please contact GCU via secure Message Center in Online Banking or call us at 800-388-7000 to request a correction. A GCU IRA Specialist will research and respond to your request.

How can I request a previous GEICO FCU IRA statement or tax form after August 14, 2020?

You can request a copy of a prior IRA statement or tax form by contacting GCU via the secure Message Center in Online Banking or calling GCU at 800-388-7000. We may take up to 10 business days to obtain the requested document.

Debit Cards

What will happen to my GEICO FCU Debit card and/or ATM card?

We will be replacing your GEICO FCU Debit card and/or ATM card(s) with new GCU Visa Debit Card(s) which may be used at an ATM and for Point of Sale transactions at merchants. Your GEICO FCU Debit and/or ATM card(s) will be available for limited use through August 16, 2020. During this period, there will be a $205 total daily activity limit.

When will I receive my new GCU Visa® Debit card?

Your GCU Visa® Debit card will arrive at the current address on file on or before August 11, 2020. Your Debit card will ship via USPS® first class mail and arrive in a plain, white envelope. Debit card activation instructions will be provided with the card. It’s important to activate, set a PIN, and sign the back of the card so you can fully utilize your new Debit Card. Please note – do not to use this card until August 17, 2020 to avoid incurring insufficient funds fee(s).

Will I receive a new ATM card?

GCU does not offer ATM cards. All GEICO FCU ATM cardholders will receive a GCU Visa® Debit card which may be used at an ATM and for Point of Sale transactions at merchants. Your CU Visa® Debit card will arrive to the current address on file in our records on or before August 11, 2020. Your new Debit card will ship via USPS first class mail and arrive in a plain, white envelope. Debit card activation instructions will be provided with the card. It’s important to activate, set a PIN, and sign the back of the card so you can fully utilize your new Debit card. Please note - do not to use this card until August 17, 2020 to avoid incurring insufficient funds fee(s).

What should I do if my GCU Visa® Debit card did not arrive prior to August 14, 2020?

Your existing GEICO FCU Branches will support instant issue Debit card printing. Stop by a Branch and request your new card to be printed while you wait starting August 17, 2020. If a GEICO FCU Branch or GCU Branch is not near you, please contact GCU at 800-388-7000 to request a card.

How will I receive a PIN for my GCU Visa® Debit card?

You will get to choose your PIN when you call to activate your new card. Activation instructions will be provided with the card and mailed to your current address on file in our records on or before August 11, 2020. It’s important to activate, set a PIN and sign the back of the card so you can fully utilize your new Debit Card.

I never received a GCU Visa® Debit card.

If you have an open checking account or ATM card with GEICO FCU, you should have received a GCU Visa® Debit card. For your financial safety, you can block the Debit card and order a new one within Online Banking or through the BCU Mobile App beginning August 17, 2020. Alternatively, you can contact GCU at 800-388-7000 or visit your nearest Branch.

My new GCU Visa® Debit card is lost or stolen. What do I do now?

You may report you GCU Visa Debit card lost or stolen 24 hours a day, 7 days a week through Digital Banking or by calling 800-449-7728.

Why did I receive multiple GCU Visa Debit cards?

If you currently have multiple checking share accounts with GEICO FCU on a single membership you will receive multiple Debit cards. If you need help identifying which card is assigned to which account, please contact BCU at 800-388-7000 or through secure Message Center within Online Banking.

How do I know if I was supposed to receive a GCU Visa Debit card?

You will receive a card if you currently have a GEICO FCU ATM card, Debit card or have an open checking account.

Credit Cards

What will happen to my GEICO FCU Credit card?

Continue using your GEICO FCU issued credit card until you receive a separate communication from GCU. Your new card will arrive in late August 2020.

Mortgage Loans

Will I need to update my automatic payment for my mortgage from my new GCU account?

Yes, you will need to re-establish your automatic payment. GCU offers the ability to setup recurring transfers from your GCU account or from an external account. Alternatively, you can use GCU’s Bill Pay. Your mortgage servicer (PHH) will require a new ACH form to be completed with your new GCU account routing number and information. Please refer to your mortgage statement for contact information.

Home Equity Lines of Credit (HELOCs) with Visa Credit Card Access Device and Home Equity Loans

Will my existing GEICO FCU Home Equity line of credit and/or loan transfer to GCU?

Yes, your existing loan will be transferred to GCU on August 14, 2020. Account information for Home Equity lines of credit and Home Equity loans will be available to GCU representatives beginning August 17, 2020.

How do I access my available HELOC funds?

You can continue to access your HELOC funds by visiting a Branch, initiating a transfer in Online Banking, or calling the GCU Real Estate servicing team at 847-932-8182.

How do I make a payment?

After August, 17, 2020 you may make your home equity line of credit and or loan payment though the mail via a check to BCU, 340 N. Milwaukee Ave., Vernon Hills, IL 60061 noting your account number, via a transfer in Online Banking, in a Branch or call the GCU Real Estate servicing team at 847-932-8182.

Will I receive a monthly home equity line of credit and or loan statement?

Yes, your HELOC and/or loan information will be included on your monthly account statement from GCU beginning August 14, 2020. Any transactions with your GEICO FCU account between August 1, 2020 and August 14, 2020 will be included in your August GEICO FCU account statement.

Who can I call with specific home equity line of credit and loan questions?

Please call GCU Real Estate Servicing at 847-932-8182.

Consumer Closed-End Loans

Will my existing GEICO FCU consumer closed end loan(s) transfer to GCU?

Yes, your existing GFCU consumer closed end loan(s) will be transferred to GCU on August 14, 2020. These GEICO FCU consumer closed end loans include auto, motorcycle, recreational vehicle, signature share, unsecured personal, shared and certificate secured, vacation, tuition reimbursement, debt consolidation, fresh start, and short term and small amount loans.

When my existing GEICO FCU consumer closed end loan(s) are transferred, will I keep my existing term(s), Annual Percentage Rates (APRs) and monthly payment(s)?

Yes, your current loan balance(s) will be transferred to GCU at the same APR(s), loan term(s) and monthly payment(s).

How do I make my payment once my loan is transferred?

If your current loan is set up for automatic payments from a GEICO FCU account, your transferred loan will also be set up for automatic payments from your GCU account. If your loan is set up to be paid from another financial institution, you will need to update that payment information with your new GCU loan information beginning August 14, 2020. Please make sure to allow enough time for the change. You can also stop in a Branch, give us a call or make your payment within Online Banking beginning August 17, 2020.

Am I able to refinance my GEICO FCU loan with BCU before August 14, 2020?

You are not able to refinance prior to August 14, 2020. If you wish to refinance after that date, you can reach out to us in a Branch, online or call 800-388-7000.

Online & Mobile Banking

Are there resources available to guide me with using GCU’s Online and Mobile Banking?

Yes, we’ve developed a series of tutorial videos to walk you through different features of GCU’s Digital Banking, including your Online Banking dashboard and the Mobile App. You can also visit the Digital Banking Resources page for more information.

Will I have access to my GEICO FCU accounts in Online and Mobile Banking?

Your existing GEICO FCU Online Banking account will change to “read only” on August 10, 2020. Your GEICO FCU Online Banking account will be deactivated on the close of business on August 17, 2020. Your new GCU Online and Mobile banking account will be available to use on August 17, 2020 at GEICOCU.org.

Where can I find my GCU Login ID and Password?

Your existing username (login ID) from GEICO FCU will be the same in GCU’s Online and Mobile banking. You will be receiving information regarding a temporary GCU password shortly before the merger. If you are unable to locate your password, please visit GEICOCU.org to login and select the “forgot password” link to reset your password. It’s very important to update your cell phone number, email address, and pass code with GEICO FCU and/or GCU to improve your experience when contacting us at 800-388-7000 or in a Branch.

How do I reset my Digital Banking Password if I can’t find the one issued to me?

  • Visit GEICOCU.org, select first time setup in the upper right corner of the page
  • Enter your Login ID/username, click Log In
  • Click the forgot password link (to the right of the password field)
  • The next screen will ask you to verify your identity. Enter your Login ID/username, email address, and member/account number from your welcome letter, select continue.
  • Select how you would prefer to receive your temporary password, select either email or text message, select continue
  • Preview the notification that a temporary password has been sent to email or text based on your selection. Note – the temporary password will expire after 20 minutes. Enter your Login ID/username in the field provided to continue, select Log In
  • Once you receive your temporary password, enter it into the Password Reset screen, select Log In again and establish a new password when prompted. Make sure your new password meets the stated requirements on screen.
  • When finished, select continue. Your password is now reset, and your account dashboard will display.

Where can I find my account number in Online Banking?

To find your account number, log into your Online Banking dashboard and select the desired deposit account. The account number will be listed in the “Account Details” section.

Can I use GCU’s Mobile Banking to transfer funds to another Credit Union member?

Yes, you can set up transfers to another member in Online or Mobile Banking.

To set up a transfer in online banking (web version):

  • Log in to Online Banking and click on the Transfers widget
  • Select the Classic tab
  • In the "To Account" section, select the Add Account button and select At BCU.
  • Enter the information for the account to which you'd like to transfer. You will need the last name of the member, the account type (loan or share), the member number and loan/share ID number. The loan/share ID is the last 4 digits (after the hyphen) of the number listed below the account name on the dashboard.
  • Add a nickname for the account. This name will appear in your account listing the next time you'd like to make a transfer.
  • Select, Save.

To set up a transfer in mobile banking (phone app):

  • Open the BCU mobile app
  • Open the Transfers widget
  • Select Add Account located in the upper right corner of the screen

Where can I find information about BCU’s Digital Banking Services?

Visit our Digital Banking Resources page for more information on our tools and services.

Wires

What are the wire processing times?

  • All domestic or international wire requests received and confirmed by the wire processing team by 3:00 pm CST will be processed on the same business day.
  • Any wire requests that require a call back will be cancelled if we are unable to connect by 3:00 pm CST. The member will need to call to initiate a new wire.
  • Wire requests received via a phone call or received after the cutoff times will be queued to the Wire Desk for call backs.
    • Call backs will be processed to members on the following business day.
    • Wire transfers are not processed on Saturdays, Sundays, or Federal Holidays.

What are the incoming wire instructions?

The following information is needed to receive a domestic wire into my BCU account:

  • Institution Name: Baxter Credit Union
  • Institution Address: 340 N. Milwaukee Avenue, Vernon Hills, IL 60061
  • ABA/Routing number: 271-992-400
  • MICR/Account number: your 14-digit account number for the share (deposit) account to be credited
  • Final Credit: your name as documented on your membership
  • Receiver's (your) physical address

To begin this process please visit a GCU Branch or contact Member Relations at 800-388-7000. Wires cannot be completed via Live Chat or via Message Center.