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January 9, 2020
We’re Changing Our Foreign Check Collections
Just so you know, we’re making some changes to our foreign check collections. We are moving to a new correspondent bank that charges a higher fee for foreign check collection and processing. Moving forward, we will be charging a fee consistent with the fee from the correspondent bank. We’re not making anything off of these fees, just passing along the same fees we are charged.
Provisional Credit Items
For Canadian items under $1,000, we will provide you with immediate access to the funds. For non-Canadian items (listed below) under $500, it may be up tp two business days before you have access to your funds. If your foreign check item is returned to us unpaid, we will debit your account for the returned item and any returned item fees applicable.
Fee for processing provisional credit for Canadian items – $8
Fee for processing provisional credit for non-Canadian items – $15
Abbreviation Currency AUD Australian Dollar CAD Canadian Dollar CHF Swiss Franc DKK Danish Krona EUR European Currency Unit GBP Great British Pound HKD Hong Kong Dollar MXN Mexican Peso NOK Norwegian Krone NZD New Zealand Dollar SEK Swedish Krona JPY Japanese Yen SGD Singapore Dollar
Currencies not listed above are not eligible for provisional credit and will be processed as a collected credit item. Collected credit items must be a minimum of $300 to process.
Collected Credit Items
For Canadian items above $1,000 and non-Canadian items above $500, we will send the funds for collection. We will not receive credit until the item is paid by the foreign institution and will credit your account at that time. Please note that these items take an average of six to eight weeks to process.
Fee for collected credit items – $75
Any additional fees we are charged to process your foreign check collection will be passed to your account. These additional fees could include bank payor fees or courier fees which vary in amount.
Fee for returned/unpaid foreign check collection – $25
How to Find Your Routing & Account Numbers
When you make a payment online, by phone or on a mobile device, you may be asked for our routing number and your checking account number. Credit unions and banks use these numbers to identify accounts and make sure money gets where it’s supposed to be. You’ll also need to provide your routing and checking account numbers for:
- Direct deposits
- Electronic checks
- Military allotments
- Wire transfers
Where to Find Your Routing & Checking Account Numbers
Your personal checks include both our routing number and your account number, as shown on the Grow check example below.
Don’t have a Grow check? No worries.
Visit any Grow store and ask for a Direct Deposit Form. It lists both your routing number and checking account number.
Making a Loan Payment
When it comes to making payments, we try to make it as painless as possible to pay your loan every month. We have several different ways to pay, including convenient online options.
You have two ways to pay online by transferring funds from another bank or credit union.
- Grow Online Banking (Preferred payment method for any loan)
This is the simplest way to pay your loan. You can make one-time payments or set up automatic recurring payments in Grow Online Banking. Once you log in, select “Transfer/Payments” from the menu. If you’re not enrolled in Grow Online Banking yet, you can set up your account in just a few minutes.
- Debit Card or ACH (Available for auto, personal loans and HELOCs)
Note: ACH and debit card payments are not available for credit cards or most mortgages, except HELOCs.
We accept ACH payments with no additional fees or Mastercard® and Visa® debit cards with a convenience fee of $4.95. To get started with an online ACH or debit card payment, select Pay Now below.
Pay by Mail
You can also pay any Grow loan by check through the mail. Please remember to include your account number and Grow loan number on the check. (For credit card payments, please do not write your 16-digit credit card number on the check, which can cause a delay in processing the payment.)
Address for auto, credit card, personal loan and HELOC payments:
Grow Financial Federal Credit Union
P.O. Box 75466
Chicago, IL 60675-5466
Address for personal first or second mortgages and home equity payments:
Grow Financial Federal Credit Union
P.O. Box 11733
Newark, NJ 07101-4733
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