Frequently Asked Questions

Fill out the following forms:

1) Member Sign up Sheet -include a copy of a government issued ID
2) Direct Deposit
3) MAC/ATM Sign up Form (with direct deposit only)
4) Home Banking Sign Up Form

Who can join the Credit Union?

Anyone who works for L?Oreal or is an immediate family member of a Credit Union member can join.

Why should I join a Credit Union?

A credit union is an institution that is administered by its members for the purpose of pooling together money from these very members. And rather than making a profit, the credit union gives that money back to its members in the form of better interest rates. To put it simply, it?s a non-profit bank: no shareholders, no profit making bank fees. You also treated like a member and not a customer. You will get personal attention with all your financial dilemmas, and will never find yourself talking to those annoying automated customer service representatives .

How can I take money out of my account?

1) If you have direct deposit you can sign up for a MAC/ATM card
2) If you have access to the computer you can sign up for Home Banking
3) If you do not have access to a computer, you can sign up for an ATM card.

What is Home Banking?

Home Banking is a way to access you account by computer. Members can transfer funds, view Estatements, pay bills, make withdrawals, and make account inquiries all online. To sign up for Home Banking just fill out a Home Banking Sign Up Form and fax it to (732) 574-9148.

  What services does the Credit Union provide?

* Savings Accounts
* FREE Checking Accounts
* FREE Debit/MAC card
* FREE Home Banking
* FREE Bill Pay
* FREE Mobile Banking
* 2% Piggy Bank Savings Account
* FREE Text Alerts
* NO TRIPS TO A BANK
* NEW PREMIER BANKING!
* FREE Notary Public Service

What is the minimum balance to keep a checking or a savings account?

You have to keep a minimum balance of $25 in your savings account. There is no minimum balance to keep a checking account. All accounts are linked to the saving account.

How do I enroll into Bill Pay?

To enroll into Bill Pay you will need to open a checking account and sign up for Home Banking. Once you are signed up for these services you will be able to view a Tab for PAY BILLS on the left column, which will direct you to the Bill Pay site.

What frequency of recurring payments is allowed?

The frequency of recurring payments can be weekly, bi-weekly, monthly, semi-monthly, quarterly, semi-annually and annually.

Who can I ask questions about Bill Pay once I am signed up?

You can always call the Credit Union at (732) 499-6679 or use the CHAT OPEN tab located on the top right of the Bill Pay site.

How can I apply for a loan?

You can go under the Loan tab on our Home Page and click Apply for a Loan and Submit online. You can also call us at (732) 499- 6679 and we can fill out an application over the phone. You will receive a reply with in 24 hours or less.

  How can I calculate my loan payments?

We have Financial Calculators under Loans on our Home page to help you with exactly what you need.

What kind of loans does the credit union offer?

Secured:

• Cars and Trucks (Up to 100% Financing on New and 100% of NADA loan value on Used.)
  
• Motorcycles
  
• Home Equity Loans (NJ Only)
  
• Second Mortgage
  
• Term Certificate Secured
  
• Share Secured
  
  

Unsecured

• Signature Loans
  
• Overdraft Checking - up to $5000
  
  

What is the difference between a secured loan and an unsecured loan?

The difference between a secured loan and an unsecured loan is that the secured loan will have collateral linked with the loan.


What is a share secured loan?

A secured loan allows you to borrow against the funds in your share account.?These funds on deposit are used as collateral for this loan.? The amount pledged in your share account is reduced dollar for dollar as the loan balance decreases.


What are my options to repay the loan?

You can sign up for direct deposit and have it come out of your paycheck each pay period, or mail in payments.

How can I change my address?

You will have to provide a copy of a driver?s license or a utility bill with your new address along with the Address Change Form.

How can I place a Stop Payment?

You will have to fill out the Stop Payment form and fax it to (732) 574-9148. There is a $25 fee for a stop payment.


How can I get my balance texted to me?

1) Go to www.lorealusafcu.com
2) Enter into your account
3) On the left side there is a link for ACCOUNT ALERTS
4) Click on it, Add Alert
5) Fill out the information, add you cell phone number
6) Press ADD.


Why should I sign up for Estatements?

Receive statements faster and safer than through regular mail
Save time and reduce paper clutter
Access a one-year history of your statements, beginning from the first month you sign up
View your statements in easy-to-read PDF format
Reduce amount of private information in your mailbox that is susceptible to mischief
Print your statement if ever a paper copy is needed. Your e-Statement can also be saved to a diskette, CD, or your computer?s hard drive for future reference
Help save some trees while helping the Credit Union GO GREEN!

How do I sign up for Estatements?

To sign up fill out the Home Banking form and fax it to (732) 574-9148

How can I reach someone at the Credit Union after hours or on the weekends?

You can always email Kristina ( ) or ( ). These emails go directly to their phones. If there is anything we can do for you we will be happy to help.

  What is the NCUA?

The National Credit Union Administration (NCUA) is the United States independent federal agency that supervises and charters federal credit unions. NCUA is a federal agency that insures deposits in credit unions up to $250,000. Visit their website at www.ncua.gov.

How can I get a Debit Card?

You can go under forms and apply for a Debit MasterCard, or simply contact our office.

What is the maximum daily withdrawal limit when using my ATM/MAC card at an ATM?

$400.00


What is the maximum daily POS (point of sale) limit when using my ATM/MAC card?

$1000.00


What is if I misplace my Debit MasterCard?

You can call the office (732) 499-6679 or email us at


How much do you charge for bank checks?

All of our checks are Bank checks (official checks) and are free for our members.


How do I perform a Wire Transfers?

If you are trying to initiate an Outgoing Wire, you have to fax us the Outgoing Wire form available under Forms.
If you are trying to initiate an Incoming Wire, you have to provide the other institution with our Incoming Wire instructions that are available under Forms.
There is a $25 wire fee for Incoming and Outgoing Wires.

What if I forget my password to log on to Home Banking website?

You just have to click on the ?Forgot Password? link on the home page. Enter your account number and email address. The email address you enter here must match the address previously saved in home banking. Click on ?Reset Password? button. The new password will be sent to your email. If you do not see it in you inbox, please check spam.