Cinfed and Reading Federal Credit Union Merger
Here are a few frequently asked questions regarding the transition. Keep in mind, our member service department is also available to answer any additional questions at 513-333-3800.
What will happen to my money?
All active accounts will be automatically transferred to Cinfed, effective January 1, 2018. Account activity must be managed through Cinfed after that date.
How will I know what my options are after the merger?
This packet includes extensive information about how to take advantage of Cinfed’s product and service offerings you can also visit us online at Cinfed.com/Reading for additional information about all of our offerings.
Will my account number change?
Your four digit account number from the Reading system will remain the same, however it will be given a “300” prefix. For example, account 1234 becomes 3001234. IRA accounts will be separate accounts and will have a “350” prefix. A membership ID with your account number(s) are enclosed in the packet.
How can I get an ATM/Debit Card for account access?
An ATM/Debit Card application has been included in the packet for your convenience. Simply complete the form and return to Cinfed. You can also call Cinfed and request an ATM/Debit Card at 513-333-3800.
Will I have access to an ATM onsite?
Yes, an ATM is available onsite at Thermo Fisher Scientific, Inc. for your convenience. However, the office has been closed because the space was no longer available. We do have eight branches across the tri-state -- the closest to the old location are at the Roselawn branch (7661 Reading Road) or the Oakley branch (4801 Kennedy Avenue). Cinfed also participates in the Co-Op Shared Branching Network. See our website for details.
Can I access my account online?
Yes, visit Cinfed.com/Reading to sign up for online access. Cinfed also has remote deposit, mobile and text banking available.
Whom do I contact if I have questions?
You have many options to quickly receive answers to your questions. For in-person service, you can visit any of Cinfed’s eight branch locations. Our website (cinfed.com) is available online 24/7. Cinfed’s Contact Center can be reached at (513) 333-3800 and is staffed with Member Service Representatives. Cinfed Connection, available at the same number, is an automated service for routine requests, such as checking an account balance or scheduling a transfer. With all of these options, you can choose the one that’s most convenient for you – and you’re most comfortable with!
I have a 24-month certificate. What’s the status of that?
Like all accounts, certificates will roll over to Cinfed as well. The only significant difference in the management of the account is that at maturity, interest will be compounded quarterly instead of monthly. Members can always check the status of their certificates via their online account.
I have an IRA account. What’s the status of that?
Like all accounts, IRAs will roll over to Cinfed as well. Tax reporting for 2017 will be from Reading Federal Credit Union. Your IRA at Cinfed will have a separate account number than your regular account. You will receive quarterly statements on your IRA accounts.
When can I expect my account statements?
You will receive your year end account statement from Reading Federal Credit Union in the mail. With Cinfed your statements will be mailed to your address of record. For members with a checking account we provide a monthly statement to reconcile your account; all other members receive a quarterly statement. eStatements are available for all accounts, they provide more security and are available earlier than paper statements. Sign up for online banking and select eStatement for your added convenience.
What about my automatic loan payments?
If you have a automatic loan transfer set up with Reading FCU, that payment will continue to be made on the 15th with your new Cinfed account.
Where do I mail my payment to now?
To make a payment or deposit by mail, send your check and instructions for payment to Cinfed Credit Union, 4801 Kennedy Ave, Cincinnati, OH 45209
What about my payroll deposit?
If you have payroll deposit other than Thermo Fisher Scientific, Inc. you will want to complete a new direct deposit form with Cinfed’s routing number, 242076656, and your new account number, which can be found on the Membership ID card(s) included in your packet. We are working with Thermo Fisher Scientific, Inc. to ensure your direct deposit continues.
What about my automatic payments for my utilities and insurance?
Please contact your utility companies, insurance companies and other payees that you have automatic payments established. You will provide them with Cinfed’s routing number, 242076656, and your new account number.
At Cinfed, we are committed to making the transition as smooth as possible. We welcome you as a new member and look forward to getting to know you better.
For more information, visit www.cinfed.com/Reading