To assist you, we have compiled a short list of the most frequently asked questions. We hope that these questions and answers will address many of your concerns.
Q. What is a Credit Union?
A. A credit union is a not-for-profit, cooperative financial institution owned and controlled by its members. Credit Unions were created by Congress in 1934. Baptist Health South Florida FCU was founded in 1961.
Q. What is the difference between a Credit Union and a Bank?
A. A Credit Union is a not-for-profit cooperative owned by its members, run by a volunteer board of directors where members have a vote - your opinion matters. A bank is a for profit financial institution owned by its stock holders, run by a paid board of directors. With a bank, profits go to the stockholders. At a Credit Union the profits are returned to the members through lower loan rates and fewer fees. Credit Unions exist to serve their members (you) rather than to maximize corporate profits.
Q. Who can join the Credit Union?
A. Membership is limited to those in the field of membership. Our targeted member is the employees of BHSF.
Q. How do I join the Credit Union?
A. Come into one of our offices, make sure to bring your Drivers' License, Social Security Card, and proof of eligibility with you. Or, you can contact a Member Service Representative to receive more information on our products and services and the necessary paperwork to get started.
Q. Are there any fees to join the Credit Union?
A. A $5.00 one-time membership fee is due at the time you open your share/savings account along with a minimum deposit of $5.00.
Q. Is there a minimum share/savings balance requirement?
A. A $5.00 minimum balance is required to maintain membership in the Credit Union.
Q. Can family members join the Credit Union?
A. Yes! After you join, anyone related by blood, marriage or adoption is an eligible family member.
Q. What is the Credit Union's mailing address?
A. Baptist Health South Florida Federal Credit Union 13200 SW 128th Street, Suite C1, Miami, FL 33186.
Q. How do I initiate a wire transfer FROM my Credit Union account?
A. You need to have the ABA/Routing and Transit number, account number, exact name and address on the account, and the name and address of the institution where you would like to wire the money. You can download the appropriate Wire Transfer Form or visit a branch location to speak with a Member Relations Representative. Note: There is a fee for incoming and outgoing wire transfers.
Q. How can I check on my Credit Union account after hours?
A. You can access your account several ways. You can use FREE Home Banking on your computer, tablet, or mobile phone anytime you want - 24 hours a day, 7 days a week. You can use the Credit Union's Telephone Inquiry System. The service is FREE and allows you access to your account 24 hours a day, seven days a week. Call (786) 257-2300. More information and complete usage instructions are available online. You can also access your account by using one of our ATM's, conveniently located within BHSF facilities.