Money Orders & Official Checks
Purchasing a money order or cashier's check offers several benefits:
Security: They are more secure than personal checks, reducing the risk of bounced payments since they require upfront payment.
Large Purchases: Cashier's checks are ideal for larger transactions, such as buying a car when personal checks aren't accepted.
Sending Money: They provide a safer alternative for sending money instead of cash or personal checks.
No Checking Account Needed: Both can be purchased without a checking account, making them accessible to everyone.
Both can be purchased at any Coosa Pines FCU branch for $2.00, with New Horizons Club members receiving up to five free per month.
Notary Public and Medallion Signature Guarantee
Notary Public and Medallion Signature Guarantee services are free to all Coosa Pines FCU members. We've made it convenient for you by offering notary services at all branches. Medallion Guarantee service is available upon appointment at all branches except the Vincent branch.
Let's delve into the difference between a Notary and a Medallion Signature Guarantee so you will feel more informed and knowledgeable about these services.
Notary Public:
A notary public is a state-appointed official who serves as an impartial witness to the signing of legal documents.
The notary’s job is to verify the identity of the person signing the document, usually by checking a photo ID.
Notaries do not guarantee the authenticity of the document’s contents; they only confirm the signer’s identity and that the member signed the document willingly.
Medallion Signature Guarantee:
A medallion signature guarantee is a special certification stamp that ensures the authenticity of a signature authorizing the transfer of securities like stocks or bonds.
A medallion signature guarantee is typically required when an owner wants to sell or transfer securities in physical certificate form. It provides a necessary level of security in these transactions.
The guaranteeing institution, which must be a member of a medallion signature guarantee program, backs the certification with its assets, making it a more substantial security measure than notarization.
It also confirms that the signer has the legal authority and capacity to make the transfer, which is something other than what a notary public does.
In summary, a notary public plays a crucial role in verifying identities for legal documents. This is distinct from a medallion guarantee, which ensures the authenticity and authority of the signature in financial transactions involving securities.
To make an appointment for a Medallion Signature Guarantee, please contact a Member Service Representative.
Wire Transfers
Wire Transfers provide a secure method of transferring funds from your credit union account to an account at a different financial institution, ensuring your money reaches its destination safely.
Wire Transfers offer a convenient way to pay bills, send emergency funds to loved ones, or make purchases when sending a check or money order is not feasible. It's a hassle-free solution for your financial needs.
The fee for Wire Transfers within the United States is $10.00, and the fee for wire transfers outside the United States is $35.00.
The primary or joint account owner must sign a Funds Transfer Agreement before making the first wire transfer on a credit union account.
Outgoing Wire Transfer Instructions
For funds transferred out of a Coosa Pines FCU account by wire transfer, a signed Funds Transfer Agreement must be on file, and the following information must be provided to CPFCU:
- Receiving Financial Institution Name and Complete Address (Include City, State, and Zip)
- Routing/ ABA Number (Institution Will Provide)
- Receiving Person(s) Name and Account Number
- Instruction as to the Account from Which the Wire Transfer Fee May be Deducted
Incoming Wire Transfer Instructions
For funds transferred into a Coosa Pines FCU account, a signed Funds Transfer Agreement must be on file, and the proper transfer instructions must be given to the sending institution. The instructions are:
Corporate America Credit Union
4365 Crescent Rd, Irondale, AL 35210
ABA: 262090120
Credit To: Coosa Pines FCU
33710 US Hwy 280 Childersburg, AL 35044
ABA: 262287551
Further Credit To: Member’s Name and Account Number