Frequently Asked Questions Categories
About Genesee Valley Federal Credit
At Genesee Valley Federal Credit Union, if you live, work, worship, go to school, or volunteer in Livingston or Wyoming County, you are eligible to become a Member. Also included, are Member’s immediate family: grandparents, parents, stepparents, spouse, children (including adopted and step), grandchildren, and siblings (including step).
To join the Credit Union, you may visit any of our branch locations. A primary savings account with a minimum $5 deposit is required for membership. Locate our branch locations here to find the one most convenient for you.
Please click here to view our locations and hours.
MemberCare@GeneseeValleyFCU.com or use our convenient Contact Us portal through our website. Remember for security purposes to not include your Full Account Number details in the message you are sending.
GVFCU’s fax number is (585) 243-4143. Click here for a reminder of our office hours.
Check Deposits made at our Dansville ATM are held for 3 business days. This is necessary in order for the ATM to be balanced and the deposit to be verified. Under certain circumstances, the hold may be extended by the Credit Union.
Certificates of Deposit Questions
A Certificate of Deposit (CD) is a savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate and can be issued in any denomination. When you open a CD, your money is on deposit for a specific time period. For agreeing to keep it on deposit for a specified time period, you earn more than you would in a regular savings account. If you cash it in before its maturity date, you pay a penalty.
Interest rates on Certificates of Deposit vary and are based on the term of the certificate and on the opening balance of the certificate. Please see our current rate sheet for additional information.
The terms “debit card” and “check card” mean the same thing. A debit card withdraws money from your checking account as a check does; therefore, it debits your account. It can also withdraw money from your savings account, if you have it set up that way when you ask for a card. It can be used to make purchases at any retail establishment that displays the MasterCard logo.
There is no charge for making a purchase with your MasterCard debit card.
If your ATM/Debit card has been lost or stolen, please call 800-472-3272 immediately
Contact any one of our branches to schedule a free personal financial counseling session with a Financial Service Representative or click here to initiate the request, once of our representatives will reach out to you and further discuss. You can also find helpful online resources in the “Financial Planning > Budgeting” section of our Financial Resource Center.
To make this decision, calculate your monthly payments and your total net cost. When you compare these amounts, you can determine which option is right for you. Use our Auto Buy or Lease calculator to help you.
Cosigners lend their names and good credit histories to the maker. Should the maker die, lose a job, or otherwise fail to make payments, all responsibility for meeting the terms of the loan transfers to the cosigner. An often-overlooked aspect of cosigning a loan is the fact that the loan appears on both the maker's and cosigner's credit reports.
Read more about your obligations when you cosign a loan at our Financial Resource Center
It might be tempting to view your 401(k) as a source of emergency funds, but before you dip into your retirement account for cash, explore alternatives. Contact one of our Financial Service Representative to discuss other lending options or see additional information in our Financial Resource Center.
To establish good credit, you need a steady work record and continued residence at the same address. If you do not have a checking account, open one and be careful not to bounce checks. Read more about establishing good credit.
General Product and Service Questions
For your convenience and security, check ordering is available on the home page of our website, on Home Banking, or by clicking here. If this is your first check order with Main Street Checks, we recommend you call your local branch and speak to a Member Service Representative. They will be happy to make any information changes on your account or to place your check order on your behalf.
Click the Login box in the top right hand corner of this site. Enter your Logon ID and Security Code (password). If you are using a device for the first time, or if your computer automatically deletes your cookies after each use, you will also need to answer a Security Question before entering your password.
Please see this attachment for the step by steps to enroll in our Home Banking services. Home Banking Enrollment
No. You can apply for a loan before joining the Credit Union. If you are approved and decide to close the loan with us, you will then be required to join.
You can call or stop into any of our branch locations. You can also mail your payment directly to any of our locations for processing. Please see Contact Us for specific address and phone information.
No. The credit bureau does not allow us to give out copies of the report. You can request a free copy of your credit report by visiting AnnualCreditReport.com.
Because the federal government requires that each of the three national credit-reporting agencies—Experian, Equifax, and TransUnion—gives you a free credit report every year, consider staggering the receipt of each of your credit reports. That way, you'll get a continuous picture of how your credit picture looks, because the three bureaus feed each other the latest information. You’ll also be able to clean up errors as you find them (because errors can drag down a credit score) and you’ll also keep an eye on identity theft.
The federal government requires that each of the three national credit-reporting agencies—Experian, Equifax, and TransUnion—gives you a free credit report every year. You can request a free copy of your credit report by visiting AnnualCreditReport.com.
According to the Federal Trade Commission, the only authorized online source is at annualcreditreport.com. Consumers should be aware that there are many sites out there that claim to offer “free” credit reports but often charge you for another product if you accept the report.
To request your credit report by phone, call (877) 322–8228. To request your credit report by mail, write to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. Do not contact the individual credit-reporting agencies.
Yes. Contact one of our branches today for further details and assistance.
Yes. See our bank products page for additional information.
As of January 1, 2012, paper savings bonds are no longer sold at financial institutions. This action supports Treasury’s goal to increase the number of electronic transactions with citizens and businesses. Click here for details about purchasing savings bonds electronically.
Yes, we offer notary services at all three branches locations. Notary services are free for GVFCU Members. There is a $2.00 per stamp charge for non-members.
Yes, at our Dansville and Warsaw Branch Locations.
Yes. If you would like to split your payroll between several shares within your account, we recommend setting up one lump-sum deposit with your employer’s payroll department. Then, contact us at 585-243-1500 or by MemberCare@GeneseeValleyFCU.com to arrange how you would like your deposit to be split up. This allows us to work with you for any future changes as your financial needs change.
Your money is insured by the National Credit Union Administration (NCUA), an independent agency of the United States Government. Your savings is federally insured up to $250,000 and backed by the full faith and credit of the United States Government. Click here to learn more.
Please see our Career Opportunities Page under About Us for current open positions. We also accept applications even when we do not have any open positions.
Credit unions are non-profit and exist to help people, not to make a profit. As such, all earnings are returned to their members in the form of high-interest savings and low rate loans. A volunteer board of directors, elected by the members, governs a credit union. With their vote, each member has a direct impact on the direction of the credit union. Also, "people helping people" is the credit union philosophy. A credit union's goal is to serve all of their members equally and provide charitable contributions to their community. Credit unions are owned by their members. Each member gets one vote and an equal say in how the credit union is run.
A Roth IRA is an individual retirement account created by the Taxpayer Relief Act of 1997. Roth IRA accounts are traditionally used as retirement savings accounts. They allow limited contributions to be made throughout the tax year and can be withdrawn within 5 years after establishing the account provided you are aged 59 1/2 or older.
Yes, you will earn interest on the funds that are on deposit at the credit union in your Roth IRA.
Those who work for a living can contribute to a Roth IRA account. The income must be derived from actual work efforts and compensation in the form of wages, tips, salaries, bonuses and professional fees.
There are limits on the amount of income one can make during a given year—and the limits change from year to year by the IRS. Please visit the IRS Website up to date details.
No. The amount you contribute to your 401(k) or other employer-sponsored plans will not be affected by your Roth IRA.
Yes, you can maintain both types of IRAs at the same time. You can even make contributions to both types of IRAs in the same year. But your contributions to both Roth and traditional IRAs cannot exceed the maximum contribution limit for all IRAs.
If your wallet has been lost or stolen, take the following actions:
- Contact Us as soon as you are aware that your wallet is lost or stolen. We will take the first steps to protect your Credit Union finances as well as providing you guidance to protect the rest of your assets.
- Call the three major credit reporting agencies (Equifax: 1-800-525-6285, Experian: 1-888-397-3742 and Trans Union: 1-800-680-7289) and ask them to immediately place a Fraud Alert on your name and Social Security number. The alert means any company that checks your credit knows your information was stolen and they have to contact you by phone to authorize new credit.
- Notify the SSN national fraud hotline at 1-800-269-0271.
- Cancel your credit cards. Include the numbers for VISA and MasterCard customer service.
- File a police report the same day, if at all possible, in the jurisdiction where your wallet was stolen.
If you feel you have been a victim of identity theft, contact the FTC’s Identity Theft Hotline toll-free at 1-877-IDTHEFT (438-4338); by mail: Identity Theft Clearinghouse, Federal Trade Commission, 600 Pennsylvania Avenue, NW, Washington, DC 20580; or online.
Phishing is the act of sending an e-mail to a user falsely claiming to be an established legitimate enterprise in an attempt to scam the user into surrendering private information that will be used for identity theft. The e-mail directs the user to visit a website where they are asked to update personal information, such as passwords and credit card, social security, and account numbers that the legitimate organization already has. The website, however, is bogus and set up only to steal the user’s information.
GVFCU does not send requests for this type of information via e-mail. If you question the legitimacy of an email claiming to be from GVFCU, call us at 585-243-1500 or email us at MemberCare@GeneseeValleyFCU.com
Vishing is the telephone equivalent of phishing. Vishing is the act of using the telephone in an attempt to scam the user into surrendering private information that will be used for identity theft. The scammer usually pretends to be a legitimate business, and fools the victim into thinking he or she will profit.
GVFCU does not send requests for your passwords, social security number, account number, or card numbers via phone. If you question the legitimacy of a phone call claiming to be from GVFCU, do not give out any information. End the call and contact GVFCU at 585-243-1500 or email us at MemberCare@GeneseeValleyFCU.com to verify if a representative was calling you.