ABOUT CREDIT UNIONS
What is a credit union?
A credit union is a member-owned, non-profit financial cooperative. The first credit union was formed in Germany in 1850. In this first credit union, members deposited their savings with the credit society to provide working capital with dividends paid on these “share” accounts. Loans were extended for “productive purposes” based on the character of the borrower. The concept and cooperative spirit of credit unions quickly caught on and spread throughout Europe and eventually to North America in 1900.
What is the biggest difference between a bank and a credit union?
Unlike banks, credit unions are: Not for Profit, Not for Charity, But for Service. While it’s true that credit unions are financial institutions like banks and savings and loan associations, they operate much differently.
Credit unions are financial cooperatives owned by the people who use the credit union. Banks are owned by investors, and banks work to make those investors money. If you’re a credit union member, the institution is owned in part by you. Therefore, the credit union is actually working for you.
Credit unions are for people, not profits. With banks, the investors of those banks are reaping the profits. Because credit unions are not-for-profit, they focus on service and return their profits to members in the form of benefits like lower rates on loans, higher rates on savings and fewer fees and service charges on the same services offered by other financial institutions.
What is the credit union philosophy?
“People Helping People” is more than just a slogan; it’s the way credit unions operate each and every day. Around the world and here at home, credit unions focus on improving the quality of life for their members, their families and the community.
How was Planites Credit Union founded?
Planites Credit Union was founded in 1955 by the employees of Blue Cross Blue Shield of Illinois. Today, membership is comprised of employees and family members of HCSC and its subsidiaries, including DNOA, Dearborn National and Hallmark.
Who owns Planites Credit Union?
As a credit union member, YOU own your credit union! Membership entitles you to elect, and be elected to, the volunteer Board of Directors, which is comprised of your fellow members. The Board of Directors sets policies for the operation of the credit union based on needs and wishes of the members, and also establishes dividend rates, loan interest rates and fees.
Who is eligible for membership with Planites Credit Union?
Eligibility is open to employees and immediate family members of Health Care Service Corporation, including all subsidiaries. Eligible family members include spouses, children, siblings, parents, grandparents and grandchildren of current members.
How can I become a member of Planites Credit Union?
To become a member, you need to open a share "savings" account with a minimum balance requirement of $25.00. Once you are a member, you are welcome to enjoy all that Planites Credit Union has to offer, from savings accounts and loan products to extraordinary personal service and so much more. Visit planites.org to join online at anytime, or stop by Planites Credit Union during regular business hours.
Do I have to close my accounts if I am no longer employed by HCSC or one of its subsidiaries?
Absolutely not! Once a member, always a member. In fact, about 40% of Planites Credit Union members are no longer with the company.
What is the routing number for Planites Credit Union?
How do I order checks?
Simply stop by Planites Credit Union or call 312-653-6371 to place your order.
What electronic services does Planites Credit Union offer?
Mobile Banking, Remote Deposit, Online Banking, Online Bill Pay, Direct Deposit, Payroll Deduction, Overdraft Protection, Wire Transfers and Electronic Signatures for loan documents.
How do I sign up for Payroll Deduction/Direct Deposit?
Payroll deduction forms can be downloaded from the Planites Credit Union home page under the “Forms & Applications” tab. Simply complete and sign the form and return it to Planites Credit Union (not the HCSC Payroll Department). Forms can be dropped off directly at the credit union, sent via interoffice mail, regular mail, faxed to 312-616-3728.
Are my deposit accounts insured?
Funds on deposit are federally insured up to $250,000 per member by the National Credit Union Administration (NCUA), an agency equivalent to the banking industry's FDIC. Funds are also insured up to an additional $250,000 by Excess Share Insurance Corporation.
Which address should I use if I need to send a check for deposit?
Send deposits and all other mail to:
Planites Credit Union
300 E. Randolph, 14th Floor
Chicago, IL 60601
What are Planites Credit Union’s regular hours and holiday hours?
Planites Credit Union is open Monday through Friday, 8:30 a.m. to 4:00 p.m. CST, and follows the HCSC holiday schedule. Please refer to our website at planites.org for a list of our holiday closings.
If I can't come in or call, how can I contact Planites Credit Union
for help online?
Simply email firstname.lastname@example.org for assistance. You may also email any questions to Member Services through online banking, if you wish. When you are logged in to your account, select the “Mail” tab at the top menu and choose “Select Secure Message.”
How can I put a stop payment on a check if I can't come in to a branch today?
If you have online banking, log in to your account and refer to the “Stop Pay” tab, choose “Add Stop Payment” and complete the information as requested. You may also call Planites Credit Union directly to stop payment on a check, which will put a verbal stop payment on the item for 14 days. Within those 14 days, you will need to stop by Planites Credit Union and sign a form to enforce the stop payment for the full six months. A $20.00 processing fee will be assessed when the stop payment request is made.
What should I do if I need to make a deposit but I am not located at 300 E. Randolph?
Deposits can be made via HCSC’s interoffice mail or regular mail. The interoffice location is Chicago HQ, 300 E. Randolph, 14th Floor. The regular mailing address is 300 E. Randolph, Chicago, IL 60601. If you have a Visa® debit card, you can use the ATM locators on the home page of planites.org to find an ATM that accepts deposits.
What should I do if I can’t find my paper statement from last month?
We suggest trying E-statements! With E-statements, you can conveniently access your current or previous statements safely and securely through online banking with just a few quick clicks. Signing up for E-statements is easy as ever – simply click the “Statements” tab found on the online banking account profile page. If you prefer a paper copy of your statement, you may contact Member Services at 312-653-6371 to make your request.
Does Planites Credit Union have notary services?
Yes, we offer notary service free to our members. Please call Member Services at 312-653-6371 to schedule an appointment.
How do I change my name and/or address?
You can update your new name or address with the credit union by visiting www.planites.org and filling out the Address Change Form that is located under the Forms and Applications tab on the home page. If you are only changing your address, simply complete, sign, date and return the form to the credit union. If you are changing your name due to marriage or divorce, you will also need to provide the credit union with a copy of your marriage license or divorce decree showing your name change in addition to the signed Address Change Form.
ONLINE SERVICES & MOBILE BANKING
How do I sign up for online banking?
You may enroll in our FREE online banking, called Planites Online, from the home page on the Planites Credit Union website, planites.org. Visit planites.org to sign up quickly and easily!
What if I receive a message that my online banking account is locked out?
An online account is usually locked out because the wrong password has been entered more than three times. You will need to contact a credit union representative to reactivate your account. Visit planites.org or call 312-653-6371 for personal assistance.
How do I sign up for Mobile Banking?
You must be enrolled in online banking in order to sign up for Mobile Banking. With Mobile Banking, you can easily access your Planites Credit Union account to check your balance, transfer funds, find the nearest ATM location and much more – all from the convenience of your mobile device. With easy options for smartphones, Planites Credit Union has you covered 24/7. Download the app today in the Apple App Store or Google Play or simply go to planites.org on your smartphone.
What if I receive a message that my Mobile Banking account is locked out?
When you first use Mobile Banking you will be sent a One-Time PIN (OTP) to the email address linked to your account. This OTP must be used the next time you sign in to Mobile Banking. If your account is locked out, you will need to contact a credit union representative to reactivate your account. Visit planites.org or call 312-653-6371 for assistance.
Is Planites Credit Union’s online banking secure?
Yes! Our online banking is just as safe and secure as the transactions you make at our branch. We employ high-end encryption software, meaning every transaction you make is encrypted or coded—an extremely secure way of transmitting sensitive information over the Internet. You’ll know our software is at work when you see a padlock or key icon in the bottom corner of your Web browser. In addition to our secure software, we take an additional precaution by requiring every member to create their own unique username and password for online login. Although hacking into online accounts seems easy in the movies, you can rest assured that Planites Credit Union is providing you with safe, convenient banking options.
How do I view and print a copy of a share draft (check) in online banking?
Select the share draft history and click on the check number desired. An image preview window will open and display a picture of the check. Select “File” and then “Print.”
How do I apply for a loan?
Members can use our online banking program, Planites Online, to apply for loans. Simply select the “Applications” tab on the menu and choose the “Loan Application” link.
Members not enrolled in online banking and non-members can download a loan application from planites.org. The loan application is located under the “Forms and Applications” tab.
What information should I submit with the loan application?
All loan applications must be completed, signed and submitted with the most recent copy of a paystub, as well as any joint borrower’s paystub. Be sure to include the amount requested and purpose of the loan (i.e. pay bills, purchase a car, etc.).
For members applying from Planites Online, please email or fax a copy of your most recent paystub.
Do I need a down payment for an auto loan?
Probably not. Planites Credit Union finances vehicles up to 100% of the Automobile Redbooks’ Retail Value. Very few loans require a down payment and it would only be necessary if the purchase price exceeded the Retail Value.
Can I get pre-approved for an auto loan?
Yes. All you have to do is complete a loan application and submit it to us with a copy of your most recent paystub along with any joint borrower’s paystub.
Planites Credit Union is happy to assist you with the car buying process, and we encourage you to contact us when you have narrowed your vehicle options. With the make, model, year and VIN (if possible), we can review The Redbooks’ Retail Value and ensure that you do not overpay for the vehicle you’ve been dreaming of driving!
Can I refinance my vehicle currently financed
at another institution with Planites Credit Union?
Yes! Simply complete a loan application and submit it with a copy of your most recent paystub along with any joint borrower’s paystub. In addition, please provide us with a copy of your insurance card and a 10-day payoff from the current financial institution.
Will there be a fee if my loan payment is a few days late?
After 15 late days on a consumer loan, Planites Credit Union charges 5% of the payment amount or $10.00, whichever is less.
What should I do if I am having trouble this month making my loan payment?
We encourage you to contact our Loan Department immediately upon experiencing difficulty making your payments. Because we are “people helping people,” we will work with you to find a solution that works for you.
VISA® DEBIT CARDS & CREDIT CARDS
What should I do if my Visa® debit or credit card is lost or stolen?
As soon as you discover that your credit or debit card has been lost or stolen, act immediately! Contact Member Services at 312-653-6371 during regular business hours. During non-business hours, call 1-800-523-4175 for debit cards or 1-800-322-8472 for credit cards. You will need to have your credit card or check card number to report the card missing after hours. You are not responsible for any fraudulent charges on a card if you report it promptly.
Please note: If you use the after-hours phone numbers to report a lost card, you must call Planites Credit Union at 312-653-6371 as soon as possible so that we can issue a new card for you.
When will I receive my new card?
If your debit or credit card was lost or stolen, you will usually receive your replacement card within seven business days.
If your debit or credit card is about to expire, you will receive a new card within two to three weeks of the expiration month. You will be able to use your old card until the last day of the month of expiration.
Why is my Visa® debit card not working?
Debit cards have daily limits, and debits exceeding the limits will be declined. The limit is $500.00 a day for ATM cash withdrawals, and $2,500.00 a day for purchases.
What if I forget my PIN?
We can order a copy of your current PIN to be sent to your address. Simply make your request in person or via email, phone or online banking.
Why won't my Visa® credit card and/or debit card work for transactions outside the U.S.?
Debit and credit card fraud continues to increase at an alarming pace. If you plan to travel internationally, please contact us to update your card and account with your travel plans to prevent your card from being blocked by our fraud prevention services for uncharacteristic transactions.
Planites Credit Union is dedicated to monitoring activity on our members’ accounts to identify any suspicious activity and prevent unauthorized use. Suspicious activity includes uncharacteristic transactions and transactions originating in foreign countries. Notifying us of your travel plans helps us to monitor your account and protect you from any unauthorized transactions. Inform us of your travel plans by calling Member Services at 312-653-6371.
Why is my available cash balance different from my balance?
When you use a debit card to make a purchase, the merchant sends a confirmation to the credit union for an authorization. When the approval is given, the balance in your checking account is reduced or "blocked" by the amount of the purchase. This is known as a pre-authorization hold. The merchant determines the amount of the hold, and Planites Credit Union establishes the length of time the hold stays in place. Typically, the hold remains on your account until the funds are transferred to the merchant, up to 72 hours.
What should I do if I detect fraud on my account?
Contact Planites Credit Union immediately! Stop by or call a Member Service Representative at 312-653-6371.
What are my Visa payment options?
There are two convenient ways to make a Visa payment so simply choose the way that’s easiest for you! You may sign up for EZCardinfo.com and make your payments online, or you may mail your Visa payments to the address below. If you are no longer employed, you can mail your payments to the same address.
P.O. Box 4521
Carol Stream, IL 60197-4521
When do I receive my member statements?
Active checking and loan accounts receive member statements monthly. Savings-only accounts receive statements quarterly.
What is an E-statement?
An E-statement is an electronic version of your regular statement that you can view in online banking. You will receive an email when your E-statement is available for viewing. Planites Credit Union stores 24 months of past statements online for fast, easy access without the paper clutter. We recommend that you save or print your statements for your records.
How do I save my E-statement?
First, open your E-statement in online banking, go to File and select “Save As.” You will be asked where you would like to save the file. Simply select the location on your computer and then click “Save.” It’s that easy!
What if I need a statement that is over two years old?
Please contact Member Services at 312-653-6371 for assistance. A fee may apply.
How do I sign up for E-statements?
You must be enrolled in online banking to be eligible for E-statements. Visit planites.org to enroll, and once you’re signed up, click the “Statements” tab and select “E-statements.”
Do I need specific software to view my E-statement?
You will need the Adobe Acrobat Reader program. If you don’t already have it, visit http://get.adobe.com/reader/ to download it for free.
What are the wire transfer instructions to send money to Planites Credit Union?
To receive a wire transfer from another financial institution, you will need to provide the following information:
Alloya Corporate Federal Credit Union
ABA Routing Number: 271987635
4450 Weaver Parkway
Warrenville, IL 60555
Further Credit to:
Planites Credit Union
300 E. Randolph
Chicago, IL 60601
ABA Routing Number: 271080354
Final Credit to:
Your account number
What is the cut-off time for outgoing wire transfers?
What is the fee for a wire transfer?
The fee for an outgoing domestic wire is $25, and $45 for an outgoing international wire. Planites Credit Union does not charge a fee for incoming wires.
What are the ACH instructions to have money debited to or credited from my Planites Credit Union accounts?
You will need to provide the Planites Credit Union routing number (271080354) and your member/account number.
If using a checking account, please contact Member Services to obtain your complete account number including the “check digit,” which is an extra digit that is added to the end of your account number.
If using a savings account, you will need the Planites Credit Union routing number and your member number with two zeroes at the end. For example: Member number 12345 would be 1234500.