Wire Transfer
When you have an urgent need to send money fast, LGFCU offers Wire Transfer services.
- Transfers are made through a direct, electronic link with the Federal Reserve.
- Transfers are made only between financial institutions.
- To send money from one individual to another, the financial institution of the sender will wire the funds to the financial institution of the receiver. The funds are then disbursed as directed. The Credit Union can receive and send wire transfers. Wire transfers may be transmitted throughout the day.
- To send a domestic wire transfer within the U.S. the cost is $6.00.
- To send an international wire transfer the cost is $25.00.
- To receive a wire transfer is free.
Before you head out to your branch, make sure you call the financial institution where you are wiring the money and get the routing numbers and account numbers. Also find out if an intermediary financial institution will handle the transfer. Then bring your Driver's License or Identification Card and the information for the other financial institution to the branch.
Funds Transfer
Funds transfer allows members to automatically move funds from one LGFCU account to another.
- Members can make recurring transfers for any specific time frame (weekly, bi-weekly, monthly), number of occurrences or dollar amount.
- Transfers can be made to or from Share, Money Market Share, or Checking accounts.
- Loan payments made by funds transfer are given the payroll deducted rate (one-half percent discount).
- Funds transfer for loan payments may be used only when payroll deduction is not available.
- Credit card payments can be made through funds transfer (a set monthly payment must be transferred, even though the minimum payment amount for the credit card may vary).
