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Financial Preparations for Deployment

Submitted by admin on Tue, 08/28/2007 - 22:57.

Deployment for you and your family can be stressful and challenging, regardless of whether it is a first deployment or tenth. You must be able to manage your finances while deployed and Russell Country Federal Credit Union is standing by to help. These tips will acquaint you with options that can make handling finances from overseas easier. They describe the Russell Country Federal Credit Union services that can help you stay in touch with your accounts, options for designating a financial helper while you're deployed, and steps to take before, during, and after deployment. Russell Country Federal Credit Union is committed to supporting our military members. We hope you find these financial tips for deployment useful.

Better Checking

Having a checking account with Russell Country Federal Credit Union is your entrance to a long list of free services that are basic to managing your funds without unnecessary paper during deployment. RCFCU offers four types of checking accounts; you pick the one that's right for you: Free Checking, Regular Checking, Classic Checking, or Classic II Seniors Checking. Call the member service department for details or pick up the checking brochure at any RCFCU branch.

PC Home Banking

Online Banking requires an Internet connection for real-time access to your RCFCU accounts during deployment. It allows you to monitor account activity, pay loans, transfer funds among your RCFCU accounts, and view your E-statements, and RCFCU member publications. The service is backed by state-of-the-art encryption and security features, such as Multi-Factor Authentication. During your deployment, any individual you authorize to access your account via Online Banking will need to be familiar with your unique login steps.

Free E-statements

Your account statements can be viewed via the internet through Online Banking. To sign up for E-statements log in to your account through Online Banking. From your Account Services page, click on E-statements, mark your consent to the E-statements agreement, and provide an e-mail address that will be valid during your deployment. A personal identification number (PIN) will be e-mailed to you for future access to your E-statements. The system stores up to 15 months of your statements for viewing or printing.

VISA Check Card

Members with RCFCU checking who qualify for a free VISA® Check Card rarely need to write checks, which is helpful during deployment. RCFCU's VISA Check Card is accepted anywhere in the world were the VISA debit logo is displayed. The card looks like a credit card, but your purchases are debited from your checking account.

Fund Transfers

  • Free Direct Deposit

    Arrange to have your payroll deposited to your checking, savings, or other RCFCU account to avoid any possibility of delay by mail. You will have access to the funds the day they are deposited and you can verify your deposit online or by telephone with the Call Now Phone Banking.

  • Free Payroll Distribution

    Arrange to have your payroll distributed among several RCFCU accounts by dollar amount. You can feel confident during your deployment that your household dollars, savings dollars, and discretionary dollars are allocated according to your wishes - without lifting a pen or making a call.

Before You Depart

Plan a Budget

Managing your finances from a distance is much easier if you have a plan in place. Define your goals, account for your monthly needs, and assign your income accordingly.

Account Joint Signers

If yours is the only name on your RCFCU account(s), your spouse, significant other, parent, or trusted friend will not have access to your funds should you need help. You may want to consider putting a second name on your account(s) so that another person may have access in case you need assistance.

Adding the name of a trusted individual to an account requires only a brief visit to any branch to meet with a member service representative. The name can be added quickly. To remove that individual's name from the account, RCFCU requires that a request be signed at a branch. Joint signers are not members of the credit union unless they have a share savings account in their own name.

Power of Attorney

A trusted individual, such as a spouse, relative, or friend can be authorized to act on your behalf during deployment through a power of attorney. You can specify which decision(s) that individual may and may not make, and you can cancel the power of attorney following your return. Russell Country Federal Credit Union honors general powers of attorney and special powers of attorney based on the rights specified in the document. The base's legal office can help you understand and prepare a power of attorney free of charge.

It is advisable to stop by any RCFCU branch before you leave to verify that your power of attorney is adequate for your financial needs during deployment. A member service representative will put a note on your account naming the individual to whom you assign power of attorney while you are deployed. For answers to general questions about Russell Country Federal Credit Union's acceptance of powers of attorney, please contact our friendly member service department at (406) 761-2880 or (800) 772-4343.

Place an Active Duty Alert on Your Credit Report

To minimize the potential of identity theft during your deployment, call one of the national reporting companies at their toll-free number to have an active duty alert placed on your records. Businesses that see the alert are required to verify your identity before issuing credit. To place an active duty alert, or have it removed, contact one of the following companies:

You will be asked to provide proof of your identity, which may include your Social Security number, name, address, and other information. Your power of attorney designee may also place the alert for you.

Itemize your financial accounts

Provide your designee a confidential list of your accounts to be referenced during deployment. The list should include everything relevant to your finances: life, health and disability or accident insurance policies, checking, savings, money market accounts, credit cards, savings bonds, mutual funds, certificates of deposit, stocks, and IRA documents. The details should include your:

  • Social Security number
  • the name(s) on each account
  • address and phone number for the institution or provider
  • account or certificate number
  • interest rate
  • maturity date
  • principal
  • current balance
  • location of the statement, bank book, etc.

The list can be used by your trusted designee for quick reference when questions come up during deployment.

While You're Away

Live Member Support

The secure messaging feature in PC Home Banking allows you to communicate with RCFCU staff about your accounts while you're logged in. Staff will reply to your inquiry by the next business day, Monday through Friday.

Member Service Center

Our member service personnel are available to help you over the phone by calling them toll-free at (800) 772-4343. They are available Monday through Friday from 8:30 a.m. to 5 p.m.

Your account can be "flagged" with a note to inform staff about your deployment and its estimated duration, which is important in the event of payment delays or questions about your account. Any concerns about your account will be clearly noted so that the credit union may grant you an extension, if needed. We can also note the individual(s) you have given power of attorney to ensure your needs are met without delay during your absence.

Free Call Now Phone Banking: (406) 761-7388 or (800) 317-3176

Your account can be accessed 24 hours a day with free Call Now Telephone Banking. You'll need to input your account number, Call Now PIN, and use the touch pad of your telephone to complete your inquiries. You can confirm deposits, debits, and account balances, transfer funds among your RCFCU accounts, and make your loan payments too.

Coming Home

Update Your Personal Information

Contact Russell Country Federal Credit Union when you return to let us know we can remove the notes from your accounts. Also, update your mailing address, telephone number(s) and e-mail address for contacting you locally. You may want to dissolve your power of attorney and remove your joint signer(s) upon your return.

Russell Country Federal Credit Union is proud to be your financial service provider. Please let us know how we can be of further help during your deployment.

Thank you for your service to this nation and for the safety, security and freedom you protect each day.