Switching to Taylor Credit Union is easy! We have made moving your accounts fast and convenient with our Switch Kit. – 12 Easy steps.
All the letters and forms you will need to make this transition as easy as possible are provided here. All you have to do is print and mail the letters to the appropriate companies and/or individuals.
- Open your membership and checking account by visiting one of our two locations.
- Make sure funds are available in your old account to cover any automatic payments, checks, and check card transactions that may still be withdrawn.
- Verify that all checks, card transactions, electronic payments, and scheduled bill payments have cleared your old checking account.
- Cancel reoccurring bill payments from your old checking account.
- Check maturity dates on Certificates of Deposit if transferring in order to avoid early withdrawal penalties.
- Give written notices to companies with which you have direct (employer, government deposits, pension, transfers from other financial institutions, investment dividends, child support or court-issued deposits, etc.) notifying them that you want to switch your direct deposits to your new Taylor Credit Union account.
Direct Deposit Change Request Form.
- Send written notice to set up direct deposits with any new companies or individuals.
Authorization Agreement for Direct Deposit form.
- To change Social Security deposits, visit: www.ssa.gov/deposit/howtosign.htm or call the Social Security Administration at 1-800-772-1213
- Send written notices to companies who automatically take payments from your checking account (utilities, mortgage, insurance, brokerage, credit cards, internet service providers, transfers to other banks, child support or court issued payments, etc.) notifying them that you are closing the account.
Authorization for canceling Automatic Payments Form.
- Contact companies that take payments from your old checking account using a debit card. Inform them of your new Taylor Credit Union VISA Check Card number. (If you prefer, you may set this payment up through Taylor Credit Union’s free online bill pay.)
- Verify that your direct deposits and automatic payments have begun posting to your new Taylor Credit Union account.
- Close your account with your old financial institution. Account Closing Request.