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Table of Content Pages 1-2) Website links on searching for Credit Unions near you. Page 3) Step-by-step guide from Consumer Union on bank switching Page 4) Switch Kit – “To Do” List Page 5) Standard Form: Initiate/Switch My Automatic Payment Letter Page 6) Standard Form: Initiate/Swich My Payroll Direct Deposit Letter Page 7) Standard Form: Bank Account Closing Letter Money-saving tip 1: If you need to buy Cashier’s Check or Money Order, try US Post Office’s Money Order. Avoid the “highway robbery charges” at the Big Banks ($10 or more). It costs less than $2 to buy US Postal Money Order in value up to $1,000. The fee is only $4.45 for International Money Order that can be cashed in 29 countries (see list in the USPS website). For example, if you need to buy $2,000 Domestic Money Order, you only pay $1.55 x 2 = $3.10 in fee for US Postal Money Order. See this USPS website about their Postal Money Order: https://www.usps.com/shop/money-orders.htm

The Los Angeles Times reported on March 1, 2012 that more than 1.3 million Americans have switched their money to Credit Unions in 2011 in response to the increasing fees at the Big Banks. This compares to nearly 600,000 people switching to Credit Unions in 2010. Expect the number of American switching to increase in 2012 with even more fees coming. http://www.latimes.com/business/la-fi-bank-fees-complaints-20120302,0,7970213.story

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Website links on searching for & learning about Credit Unions
1) Read this “7 Ways Credit Unions are Better than Banks” here- http://goo.gl/Iw7fX - Credit Union Makes You a Priority: read details in the website link above ----^ - Low or Minimum Balance Requirement on Accounts - Lower Fees on Banking Products - Lower Interest Rates on Loans (Mortgage, Credit Cards, Auto & Personal Loans) - Secure Funds: look for CU that are members of NCUA insuring up to $250K deposit - Bonus Checks: Credit Union share profits with members – For real, they do! - If You’ve Been Denied Credit at banks, Credit Unions are Less Restrictive about Credit Eligibility Requirements. 2) Think Credit Unions are inconvenient? Learn 3 things about your Credit Union in this news article: http://goo.gl/Svhqx Ask Credit Union about (1) Over 28,000 Surcharge-Free CO-OP network ATM nationwide (including surcharge-free ATMs at 7Eleven, McDonald’s and many more), (2) Ask about Thousands of Shared branches nationwide (aka: CU Service Center) –if you have moved from Chicago to Miami, you can use human-tellers (as well as ATM) at THE OTHER Credit Unions in Miami for deposit & withdrawals as though you are still in Chicago – no need to close Credit Union accounts if you move to another town or state, (3) Online Banking & Account Access (4) Some CU offer Deposit via Smartphones or Scanners 3) A Smarter Choice to help you find Credit Union, see website link below: http://www.asmarterchoice.org/Marketing_Spotlights__News_98.html Another website: Find a Credit Union: http://www.findacreditunion.com/ Write down your banking habits: frequently use your Debit Card, or want to maintain lower balance on checking accounts? Ask the prospective Credit Unions about their fee schedules, their rules to avoid fees, if they are on the CO-OP network or the All-Point Network (how many Free ATM nationwide), if they are member of Shared Branch network (aka: CU Service Center). Shop around for the Credit Unions that fit your needs, compare Interests on Loans & Deposits. Don’t be shy! Ask for help, most Credit Union employees are happy to help you with the bank switching process. If you are Canadian or British, here are 2 websites that can help you search for Credit Unions in your countries. Ask fellow local citizens to learn more. CANADA: http://locator.cucentral.com/ UK: http://www.findyourcreditunion.co.uk/ 4) Check the credentials of the Credit Union at the NCUA website. http://www.ncua.gov/Default.aspx NCUA is similar to the FDIC. The NCUA regulates member Credit Union and insure depositors up to $250,000. 5) Read this very useful Q&A “Everything You Need to Know About Credit Union” to learn more: http://goo.gl/zynJO 6) Ask the Credit Union for “Switch Kit”, some CU have employees working on “Switch Team” to help you make seamless transition from Big Bank to CU. The check-printing company Deluxe has just introduced a new software called “SwitchAgent” in Page | 2

Oct 2011. The new software helps customers make seamless bank account switching. Ask your CU to use Switch Agent software from Deluxe. See the news article here: http://goo.gl/Svhqx 7) See this Daily Kos blog: http://goo.gl/3N3sD At least 2 church groups in San Jose, CA withdrew more than $7 million from Wells Fargo and Bank of America, the churches are moving their money to local Credit Unions that create local jobs & invest in local communities. 8) About 300 people in Colorado closed their Wells Fargo account in October. Read the news here: http://goo.gl/3N3sD

Step-by-step guide from Consumer Union on Bank Switching
Consumers Union offers a host of tips on the website http://www.defendyourdollars.org/2011/10/how_to_move_your_money_safely.html Here's a condensed version. • Open your new checking account with a small deposit. • List all automatic payments and deposits at your old checking account. Go through your Bank statements in the past few months to see if you have automatic bill payments that are made on Bi-Annual basis (i.e. car insurance) or on Quarterly basis. If you have Annual Payment (i.e. Annual Dues) or Direct Deposit of Income Tax Refund setup annually, go through your Bank Statements beyond the past 6 months to cover all bases. If you opted for electronic Statements, make sure to save prior Big Bank Statements as PDF files (at least the past 12 months), and save the Cancelled Checks images as computer files before you close your Big Bank account. You may need to check something later. • Ask your employer to reroute any direct-deposited paychecks to your new account. • Once you know when your direct deposits will transfer, reschedule each automatic payment or debit to come out of your new account. • Leave some cash in your old account for at least a month to ensure payment should you happen to forget something. • When you're certain all automatic payments and deposits are switched over, electronically transfer the final funds from your old account to the new one. Your new bank or credit union can help you with this. • Once the transfer clears, follow the procedures for closing an account at your old financial institution. And make sure to obtain written confirmation that your old bank indeed has closed out that account. Page | 3

Switch Kit – “To Do” List
We’ll make it quick — and easy — to switch your accounts to Credit Union. Simply use this handy “to do” checklist to help you make the switch! 1. Have your new Credit Union account number(s) ready when completing the authorization forms in the switch kit: Your New Account Number: Routing Number: 2. Switch direct deposits/automatic deposits using the Authorization To Change Direct Deposit: q Employer deposit q Government deposit q Social Security Administration q Brokerage deposits q Child support or court-ordered deposits q Other

3. Switch automatic payments/withdrawals using the Authorization To Change Automatic Withdrawal: q Mortgage/Rent q Association Fees q Internet service q Investments q Utilities: Electric, Gas, Water q Online billing q Auto q Club/Membership Dues q Cable TV/Satellite q Credit Cards q Phone/Cell Phone q Other

4. Close all other savings, checking & bill payment accounts using the Authorization To Close Account: Financial Institutions: 5. Transfer high-rate credit card balances to your Credit Union VISA® using the Balance Transfer Authorization: Credit Cards To Transfer: 6. Additional options to explore: q Refinance your auto loan at the new Credit Union – most CU offer lower interest rates q Refinance your mortgage loan at the new Credit Union. q Tap your home’s equity with one of the Credit Union’s home equity services.

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Initiate/Switch My Automatic Payment Letter

Automatic P
BUSINESS NAME (PAYEE) ADDRESS

RE: Initiate/Switch My Automatic Payment ATTENTION: Accounts Receivable/Accounting I would like to initiate/switch my automatic payment with your company to my new bank account. If you have any questions regarding this request, please call me at the phone number listed below. Thank you for your prompt assistance in this matter. Sincerely,

AUTHORIZED SIGNATURE (Original signature required to authorize change)

DATE

Automatic Payment Information Circle One Option:

Initiate

Switch

Name

Phone: Day / Evening (circle one)

Address

City / State

Zip Code

Amount to be Debited (write “amount due” for payments that vary each month) For: Payment or Reason On: Date of Payment

New CU/Bank Name

CU/Bank Routing Number

Your New CU/Bank Account Number

COMPLETE THIS SECTION IF SWITCHING BANKS

Old Bank Name (if switching)
©2008

Old Routing Number Page | 5

Your Old Bank Account Number

Initiate/Switch My

Payroll Direct Deposit Letter

COMPANY NAME

ADDRESS

RE: Initiate/Switch My Payroll Direct Deposit ATTENTION: Payroll Department Manager I would like to initiate/switch my direct deposit to my new bank account. If you have any questions regarding this request, please call me at the phone number listed below. Thank you for your prompt assistance in this matter. Sincerely,

AUTHORIZED SIGNATURE
(Original signature required to authorize change)

DATE

Direct Deposit Information Circle One: Initiate Switch
Name Social Security Number or Employee Number

Address

City / State

Zip Code

Phone: Day / Evening (circle one)

New CU/Bank Name

New CU/Bank Routing Number

Your New CU/Bank Account Number for deposit amounts that vary each month)

Amount to be Deposited (write “total deposit”

Second Account Number COMPLETE THIS SECTION IF SWITCHING

Amount to be Deposited

Old Bank Name

Old Bank Routing Number

Second Account Number

Amount to be Deposited

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Account Closing Letter

BANK NAME

ADDRESS RE: Close my accounts

ATTENTION: Account Maintenance This letter is to inform you I am closing my accounts at your bank. Please close the following account(s) listed below and send a check for the remaining balance(s) to my address. If you have any questions regarding this request, please contact me in writing or at the phone number listed below. Thank you for your prompt assistance in this matter. Sincerely,

AUTHORIZED SIGNATURE (Original signature required to authorize change)

DATE

Account Information

Checking Account Number

Remaining Balance on the account

Savings Account Number

Remaining Balance on the account

Name

Phone: Day / Evening (circle one)

Address

City / State

Zip Code

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