27 Aug

3 Really Good Reasons to Keep Your Account Information Updated

We want you to what?! Call into the credit union and/or log into online banking to make sure all your information is updated! No one has time for that, right? Wrong. Everyone needs to make time to keep his or her accounts updated or it can cost you, big time.

Here are 3 really, really good reasons to review your account information to make sure it is updated.

Update Beneficiaries on RMLEFCU Accounts1. Unexpected Beneficiaries – Do you know who holds the key to your accounts? Former spouses, former friends, former business partners – who from that former life is still listed on all your accounts? Per operational law, the order of ownership on a deceased member’s account is assigned in the following order:

  1. Joint Owner(s)
  2. Beneficiary(s)
  3. Court Appointed Legal Representative

This means whoever you leave your money to in your will may not be the person who gets it.

True Story: A RMLEFCU member opened a savings account in his younger years and had his current wife as the beneficiary on the account. His marriage ended, however his ex-wife’s name continued to be on his account. He remarried happily and left everything to his current wife when he passed. Unfortunately, his savings account (and all of the money in it) was now legally his ex-wife’s. All $100,000 of it. 

All it takes is a simple call to the Credit Union to ensure your beneficiaries are correct. A little smart cleanup today, can save a lot of dirty cleanup in the future. Please call (303) 458-6660 and update your accounts today.

RMLEFCU Police Credit Union Fraud Protection2. Fraud Protection – It is very important that your correct email address, phone number, and mailing address are updated on your accounts and online banking. We constantly monitor RMLEFCU accounts for suspicious activity in an effort to keep your money safe. In order to verify suspicious activity on your accounts we need to be able to contact you. If we cannot, your accounts will likely be suspended until we are sure everything is safe. This can be incredibly inconvenient if you are traveling, making a large purchase, or moving money around. Next time you are at a branch or are logging into online banking, please take a minute to make sure:

  1. Your email address is up-to-date and on file
  2. Your phone number is correct and on file
  3. Your mailing address is correct and on file

3. Save Money – At RMLEFCU we are always adding new products and special offers. We may have something new that might serve your needs better and ultimately save you money. As a member of a credit union, you are rewarded with low loan rates and accounts with better benefits. By being able to send you periodic emails and infrequent home mailers we can alert you about ways to save money. Don’t like emails? Don’t worry, you can always unsubscribe and we won’t bother you.

Please call (303) 458-6660 or login to online banking at www.rmlefcu.org today to make sure your information is up-to-date.

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