How to set up a credit union

how to set up a credit union

Things You'll Need

Detailed financial information

Select Account

Visit the Union Bank website at the link in Resources and click on the personal tab.

On the left frame click on the links for checking accounts, savings accounts and youth banking accounts for details and offers in each.

Click on the Compare Accounts link on the right frame to compare different plans in each account type. These include minimum opening deposit, monthly service charge, special features and interest rates.

Decide on which account you want to create and click on 'open an account online' link.

Open an Account

Click on the 'apply now' button of the 'open an account' page. Answer the questions presented on the screen in 'yes' or 'no' and click on continue. Select the type of account(s) you wish to open on the page displayed. Click on the 'go' button. Acknowledge and agree to the Pre E-sign consent displayed on the next page.

An electronic form will be generated asking your details. Here you will need to enter a user ID, which will be used for all your

transactions and communication with Union bank. Carefully read each part and enter the data correctly.

Select the account type as 'Individual' or 'Joint' on the next page displayed. An electronic form will be displayed asking for personal information including your first and last name, date of birth, country, social security number, ID type, ID number and permanent home address. Make sure you fill each field carefully. The fields marked with a red star are mandatory; make sure you have all the details at hand before you fill the form.

In case your mailing address is different from your home address, click on the check box at the end of the form and enter your mailing address.

You will now be directed to the Authentication page asking your financial details known only to you. This is a security feature to prevent anyone else from opening an account in your name. Make sure you have every detail with you when filling information. Click on "Authentication" to validate your application. Click "Finish and Fund." Make an initial deposit using funds from another bank account, personal check or direct deposit.

Source: ehow.com

Category: Credit

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