Frequently Asked Questions (FAQs)
Below you will find our Frequently Asked Questions (FAQ) section that provides answers to some of our most commonly asked questions. We encourage you to skim through our FAQ section to see if your question has already been answered. If you have additional questions that you were unable to find answers to please feel free to contact TEFCU at (607) 272-8567 or email us at MemberServices@tefcu.com.
- What is the difference between a Credit Union and a Bank?
- Who can join a Credit Union?
- How can I update my Address or Phone Number?
- My ATM/Debit card is lost or stolen what do I do?
- What are your current rates?
- What is your current fee schedule?
- How can I re-order checks?
- What is Direct Deposit?
- What is TEFCU's Routing Number?
- Who is Falcon and why would I be contacted by this company?
- Do I need to contact my financial institution if I’m going to be traveling outside of the state/country?
- Are my stepchildren eligible for membership?
- How do I add a joint owner to my account?
- How many joint owners can I have on a savings account?
- How many joint owners can I have on a checking account?
- Can I have more than one savings or checking account?
- What does joint ownership with survivorship mean?
- What does joint ownership without survivorship mean?
- If I leave your field of membership, will I have to close my Tompkins Employees Federal Credit Union accounts?
- Who is NILICO?
- When is my premium withdrawn from my account for my CUNA MUTUAL insurance policy?
- Is it possible to direct deposit a portion of my payroll?
- How do I change or initiate my direct deposit?
- How do I set up an automatic transfer?
- Can I do a wire transfer either in or out of my account?
- Can I have funds sent from another financial Institution to my TEFCU account?
- Can I send funds from TEFCU to another financial institution?
Q: What is the difference between a Credit Union and a Bank?
A: Probably the biggest difference is that credit unions are not for profit. Members actually own the credit union. That is why they are called "members" instead of "customers". Everything is done in the best interest of the members. This is normally seen in lower loan rates and higher dividend rates. Any revenue is used to improve products and services of the membership. A credit union is controlled through a Board of Directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit
Q: Who can join a Credit Union?
A: A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group (SEGs). This is called a "field of membership." To see the field of membership of TEFCU, please click on the Select Employee Group (SEG) tab of this site.
Q: How can I update my Address or Phone Number?
A: TEFCU provides several ways to change your address and/or phone number:
The easiest way to change your address is to visit the TEFCU website
- On the homepage, under Products and Services, click Forms & Applications
- Click on Member Change of Information Form
- Input the changes to your address and phone numbers
- Either send this updated form to us via email, print it out and mail it to our office or stop by and drop it off at our office.
Mail your information change to: TEFCU, C/O MIC; 322 W. State St. Ithaca, NY 14850. Email your information change to: MemberServices@TEFCU.COM w/Member Information Change in the Subject.
Q: My ATM/Debit card is lost or stolen what do I do?
A: To report a lost or stolen card, please call 1-800-543-5073 24hrs a day. To request a replacement of a damaged, lost, or stolen ATM/Debit card please contact us at 607-272-8567 and ask to speak with a representative.
Q: What are your current rates?
A: Click here to see our current rates.
Q: What is your current fees schedule?
A: Click here to see our current fee schedule.
Q: How can I re-order checks?
A: Contact a TEFCU Member Service Representative by phone at (607) 272-8567.
Q: What is Direct Deposit?
A: Direct Deposit is a payment method that allows individuals to have eligible government payments and payroll funds deposited directly into their checking or savings account.
Some common types of Direct Deposit include:- Salary
- Social Security
- Supplemental Security Income
- Veterans Administration Compensation and Pension
- Retirement fund distributions
The routing Number and account number in electronic format for the financial institution accepting the Direct Deposit is required.
TEFCU's Routing number is 221381919
Contact MembersServices@TEFCU.COM or call 607-272-8567 for assistance setting up Direct Deposit.
Q: What is TEFCU’s Routing Number?
A: 221381919
Q: Who is Falcon and why would I be contacted by this company?
A: Falcon is TEFCU’s fraud department for debit card holders. They would contact the number that was provided by you at the time of ordering the debit card if for any reason there are numerous transactions in one day, large dollar transactions or any other suspicious/ abnormal card activity. Please be advised that transactions that may take place outside of the state may be considered suspicious. Therefore, if you plan on using your debit card outside of the state/country, please contact TEFCU to avoid any interruption in your service.
Q: Do I need to contact my financial institution if I’m going to be traveling outside of the state/country?
A: Please be advised that transactions that may take place outside of the state may be considered suspicious. Therefore, if you plan on using your debit card outside of the state/country, please contact TEFCU to avoid any interruption in your service.
Q: Are my stepchildren eligible for membership?
A: Yes, children—natural, adopted, step—are eligible.
Q: How do I add a joint owner to my account?
A: If you are opening your account(s) with a joint owner/co-applicant, they must be present during the enrollment process in order to validate their identity. If they are not available, open your account as an individual and request the appropriate application(s) to have a co-applicant added at a later date.
Q: How many joint owners can I have on a savings account?
A: You can have as many joint owners on a savings account as you would like.
Q: How many joint owners can I have on a checking account?
A: You can have two joint owners on a checking account.
Q: Can I have more than one savings or checking account?
A: There is no limit to the number of savings or checking accounts you can establish.
Q: What does joint ownership with survivorship mean?
A: On the death of an owner of the account, the deceased owner's shares in the account pass to the surviving owner of the account.
Q: What does joint ownership without survivorship mean?
A: On the death of an owner of the account, the deceased owner's shares in the account pass as part of the deceased owner's estate.
Q: If I leave your field of membership, will I have to close my Tompkins Employees Federal Credit Union accounts?
A: No, once you've joined, you can remain a member as long as you have active accounts. Once a member, always a member.
Q: Who is NILICO?
A: NILICO stands for the National Income Life Insurance Company. NILICO works with TEFCU to provide each of our members an accidental death or dismemberment policy in the amount of $4,000.00 free of charge. They may contact you to offer you additional life insurance coverage. Should you decide that you do not want additional coverage, advise the representative of this when they contact you. Your NILICO coverage provided by TEFCU will still be effective. The number to contact NILICO is (800) 793-9312 or www.NILICO.com.
Q: When is my premium withdrawn from my account for my CUNA MUTUAL insurance policy?
A: This is a quarterly payment that is automatically withdrawn from the account you initiated the withdrawal from. It is withdrawn the last business day of the ending quarter (March, June, September, December). If you have any questions, contact CUNA MUTUAL Group at 1-800-798-6600 or http://www.cunamutual.com.
Q: Is it possible to direct deposit a portion of my payroll?
A: Yes, it is possible to set up a direct deposit in which only a partial amount of your payroll is directly deposited into your account. Be sure to indicate on your direct deposit authorization form whether you would like the funds to be deposited to your checking account, savings account or both. Please contact a TEFCU representative for the proper account format to ensure accuracy.
Q: How do I change or initiate my direct deposit?
A: Contac t TEFCU or your payroll department for details.
Q: How do I set up an automatic transfer?
A: An automatic transfer can be set up two ways. If you’re enrolled in on-line banking, sign in and click the account access tab. Click the scheduled tab and enter the information. If you are not enrolled in on-line banking , contact TEFCU at 607-272-8567.
Q: Can I do a wire transfer either in or out of my account?
A: At this time we do not offer wire transfers.
Q: Can I have funds sent from another financial Institution to my TEFCU account?
A: Since we are a small institution, TEFCU can NOT initiate this transaction however, you can contact your other financial institution and give them our Credit Union name, address, routing number and your account # in electronic format and they can set it up as long as they are an initiating financial institution. Please contact TEFCU for proper electronic account format to ensure accuracy.
Q: Can I send funds from TEFCU to another financial institution?
A: Since we are a small institution, TEFCU can NOT initiate this transaction however, you can contact your other Financial Institution and give them our Credit Union name, address, routing number and your account # in electronic format and they can set it up as long as they are an initiating financial institution. Please contact TEFCU for proper electronic account format to ensure accuracy.
