Switching banks often carries the nasty stigma that it is an overwhelming hassle. In fact, it's the pain point we hear most when people explain why they settle for less at their current mega-bank.
It doesn't have to be painful! At NorthStar, we’ve put together this Switch Kit to help make your transition as smooth as possible.
Here are five simple steps to follow:
1. Visit our online portal to open a NorthStar account and begin your credit union journey!
2. Notify your employer or direct deposit provider(s) of your desire to have your deposit(s) transferred to NorthStar by completing a Direct Deposit/Payroll Deduction Authorization form.
3. Review your most recent statement at your former bank and determine all automatic payments (ACH) that need to be transferred to your NorthStar account. You can also review our list of common ACH payees.
Most offer an option to change your payment instructions online. To transfer your automatic payments via mail, complete a Change in Account for Automatic Payments form, print it, sign it and mail it to the payee.
When the automatic payments and credits have successfully transitioned over to your NorthStar account, it's time to close your old account.
4. Deposit the remaining balance from your old account into your new NorthStar account.
5. Complete an Account Closing Notice, print it, sign it and send it your former bank.
Make sure you keep your old account open until the automatic payments and direct deposit/credits have cleared your new account. This process may take 30 to 60 days depending on the payee/vendor.
All of us at NorthStar strive to provide the very best in member service. If you have any questions or would rather speak with a representative to discuss your options, call 630-393-7201 or stop by a branch near you today, and we'll help you get started.