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To Powerco Members,

Last March, the vote to merge Powerco Federal Credit Union (Powerco) into APCO Employees Credit Union (APCO) was overwhelmingly positive, and effective April 1, 2023, Powerco joined APCO.

We are excited to officially welcome you as a fully integrated Member of APCO and have you join our Credit Union family. The final phase of this merger will occur April 1, 2024, and in the days preceding when our system integration takes place. The entire team of the newly combined Credit Union has spent months preparing for a seamless transition for you, our Members.

What does this system integration mean for you?

  • Access to 20 additional branch locations as well as more than 30,000 surcharge-free ATMs and 5,600 Shared Branches throughout the country through our CO-OP Shared Branch Network.
  • A new digital banking experience including both Online Banking and our Mobile Banking App.
  • Enhanced Member service with a dedicated 24/7 Contact Center.
  • Your accounts will continue to be safeguarded and federally insured as they are now.

Our Merger Guide contains an overview of our merger integration and what you can expect from your Credit Union as we move forward. There are also Question and Answer sections below that will provide details related to specific topics or accounts you may have.

Some aspects of this transition may require your involvement, but we have worked diligently to make this integration as stress-free as possible. We encourage you to make note of the key dates leading up to April 1, 2024, as well as the access you will enjoy after integration. We appreciate your patience and enthusiasm as we come together to offer you an extensive range of financial products and services combined with the level of service you expect from your Credit Union.

We encourage you to review the information in our Merger Guide to help answer any questions you have about the merger and the integration process. Should you have any additional questions, our Contact Center is here to help and can be reached at 1-800-249-2726.

Thank you for your membership. We appreciate your business and look forward to serving your financial needs in the years to come.

Sincerely,

 

 

Key Dates & Timelines

 

General Questions

Who is APCO Employees Credit Union?

Twice recognized by the Credit Union National Association as the nation’s top credit union for delivering benefits to members, APCO Employees Credit Union is a not-for-profit, full-service financial institution, headquartered in Birmingham, Alabama. APCO Employees Credit Union was chartered in 1953 when three established credit unions, all serving employees of Alabama Power, merged with the purpose of establishing a larger capital base that would allow greater Credit Union service to members.

Over the past 70 years, APCO has grown to become the second-largest credit union in Alabama, and the largest state-chartered credit union in the state, proudly serving 73,000 members with more than $3 billion in assets. We are excited to officially welcome Powerco members to the APCO family as a fully integrated members of APCO as of April 1, 2024.

Where can I find the Merger Guide?

The Merger Guide has been mailed to all Powerco members and can be viewed here.

Will my accounts continue to be insured?

Your accounts will continue to be federally insured just as they are today through the National Credit Union Share Insurance Fund, which is backed by the full faith and credit of the U.S. Government and managed by the National Credit Union Administration (NCUA).

Now that the merger is officially approved, can Powerco members conduct transactions through APCO?

As of April 1, 2024, Powerco members will enjoy access to 20 additional branch locations. View branch locations here.

Will Powerco members be able to use Shared Branching and Co-op ATMs through APCO’s Shared Network?

As of April 1, 2024, in addition to account access at 20 additional APCO branches, Powerco members will gain access to both branches and ATMs through the CO-OP Shared Branch Network. When you’re on the go or on the road, you can still conveniently access your accounts to make deposits or withdrawals, and even transfer funds. APCO Employees Credit Union participates in the CO-OP Shared Branch Network, which means you have access to more than 30,000 surcharge-free ATMs and 5,600 Shared Branches throughout the country.

To find the nearest ATM or Shared Branch:

  • Text* a zip code to 91989 to find nearby ATM and Shared Branch locations.
  • Call 1-888-SITE-COOP (888-748-3266) to find a location by phone.
  • Download the CO-OP ATM App* to your iPhone® or Android device.
  • Visit co-opcreditunions.org/locator to locate ATMs and Shared Branches.

*Standard message and data rates may apply.

iPhone is a trademark of Apple Inc., registered in the U.S. and other countries and regions. Android is a trademark of Google LLC.

How will my APCO Employees Credit Union account(s) be affected by the merger?

Your APCO account(s) will not be affected. We are working diligently to create a seamless integration of Powerco accounts. Our goal is for all members of the combined credit union to continue conducting business as usual with as little interruption as possible. All Powerco members are receiving detailed information about how their accounts will transition to APCO accounts.

As an APCO Employees Credit Union Member, can I start using Powerco branches now?

As of April 1, 2024, you will enjoy access to 7 additional branches in Georgia as well as a branch in Gulfport, MS.

Digital Banking FAQs

How do I register for Digital Banking?

Digital Banking includes both Online Banking and APCO’s Mobile Banking App, available in your preferred app store. You can register for Digital Banking through Online Banking using a desktop, laptop, or tablet or by using the Mobile Banking App. Both platforms will utilize the same credentials to seamlessly access your accounts moving forward. Follow these steps to enjoy convenient account access:

  1. Click “Register” at the top of our homepage or at the bottom of our Mobile Banking App.
  2. Follow the prompts for enrollment. You will need your account number, social security number, birthdate, email address and zip code. This information must match the information we currently have on your account.
  3. Verify your account by answering identification questions. You will be prompted to complete the confirmation process by entering a code that will be delivered via text or phone call to the number we have on file for the account.
  4. Once the confirmation code is received, enter the code, and click the Submit button.
  5. You will then be prompted to set up a new password and security questions. You can use the drop down menu to select each security question. Each answer must be at least 5 characters.
  6. Once set-up is complete, you will be logged in and will need to accept the disclosures for Digital Banking.

For detailed instructions on registering for Digital Banking, see our step-by-step guide to enrolling in Online and Mobile Banking with APCO Employees Credit Union.

 

Do the credentials I set up during Digital Banking registration work for both Online Banking and Mobile Banking?

Yes, you will use the same credentials for both Online Banking and Mobile Banking.

If I am currently enrolled with Powerco Online Bill Pay, do I need to re-enroll with APCO?

Yes. Your Bill Pay information will need to be set up within APCO’s Online Banking or Mobile Banking App.Once logged into Online Banking or our Mobile Banking App, choose the Payment icon or menu item to get started with Bill Pay. When you log-in for the first time, you’ll be guided through a simple 3-step process of adding and paying your first payees.

There is also a Help Center with FAQs available in Online Banking, and our Contact Center is available at 1-800-249-2726 if you have additional questions.

How do I transfer money between my Share (Savings) and Checking or other APCO Accounts with Digital Banking?

Once logged into Online Banking, choose the Transfers menu and select Manage Transfers. In our Mobile Banking App, choose the Transfers icon on the menu at the bottom. From there, you can designate details of your transfer and select a one-time or recurring transfer. If you choose the “Immediate” option, the transfer will occur instantly.

For more detailed instructions, see our step-by-step guide to setting up a one-time or recurring transfer through Online and Mobile Banking.

How can I sign up for eStatements instead of paper statements?

Once you register for Digital Banking (accessible through Online or Mobile Banking), you will automatically be enrolled to receive eStatements. Once logged into your account, you can access your eStatements starting with the April 2024 statement by choosing “Accounts” and then selecting eStatements/Notices.

Share (Savings), and Secondary Share (Savings) Accounts FAQs

How will my APCO Share Account differ from my Powerco Share Account?

Your current Share Account will transition to APCO’s Share Account. Please refer to the Truth in Savings disclosure enclosed in your Merger Information Mailing Packet for detailed information regarding your new APCO Share Account.

Will my Share Account number stay the same?

Every effort will be made to maintain your current account number(s). If an account number changes, you will receive a separate notification with your new account number(s) ahead of April 1, 2024.

If I have a Secondary Share Account with Powerco, how will that be transitioned to APCO?

APCO offers Secondary Share Accounts, making it easy for you to save for specific goals. Current Powerco Secondary Share Accounts will be transitioned over to an APCO Secondary Share Account. Please refer to the Truth in Savings disclosure enclosed in your Merger Information Mailing Packet for detailed information regarding your new APCO Secondary Share Account.

Do I need to make updates to ensure my direct deposit is deposited into my Share or Secondary Share Account?

Your current direct deposits will continue to be processed as they are today.

Money Market Accounts FAQs

How will my APCO Money Market Account differ from my Powerco Money Market Account?

Your current Money Market Account will transition to APCO’s Money Market Account. Please refer to the Truth in Savings disclosure enclosed in your Merger Information Mailing Packet for detailed information regarding your new APCO Money Market Account.

Will I be able to write checks from my APCO Money Market Account?

No. Check-writing privileges will be discontinued once your Money Market Account transitions to APCO, but you will have the ability to transfer funds between your Money Market, Share and Checking Accounts within our Online Banking or Mobile Banking App. For detailed instructions on completing transfers in Digital Banking, see our step-by-step guide to setting up a one-time or recurring transfer through Online and Mobile Banking.

Christmas Club Accounts FAQs

How will my APCO Christmas Club Account differ from my Powerco Christmas Club Account?

Your current Christmas Club Account will transition to APCO’s Christmas Club Account. Please refer to the Truth in Savings disclosure enclosed in your Merger Information Mailing Packet for detailed information regarding your new APCO Christmas Club Account.

When will APCO’s Christmas Club funds be distributed and how will I receive my funds?

Your Christmas Club Account funds will be distributed to your Share Account each year in October.

How can I make it easier to save more for the holidays?

To create more automated savings, consider setting up recurring transfers to your Christmas Club Account within our Online Banking or Mobile Banking App. For detailed instructions on completing transfers in Digital Banking, see our step-by-step guide to setting up a one-time or recurring transfer through Online and Mobile Banking.

Certificates of Deposit (CDs) or IRA Certificates of Deposit (IRA CDs) FAQs

Will my current Powerco CDs or IRA CDs transition over to APCO?

Yes. The terms of your current Powerco CDs will remain the same until maturity. Beginning April 1, 2024, upon maturity, CDs will have a 5-business day grace period for modifications. Upon maturity and renewal of your CD, you will be given an APCO Truth in Savings disclosure with detailed information on your new APCO CD.

How will I receive my CD or IRA CD dividends?

Your CD dividend will continue to be paid as it is currently.

Checking Accounts & Debit Cards FAQs

Will I receive a new debit card?

Continue using your Powerco debit card as you do now. Members with upcoming expirations will receive a new debit card ahead of expiration.

How can I find fee-free ATMs to use after April 1, 2024?

Effective April 1, 2024, you will enjoy expanded access to your Checking Account at more than 30,000 surcharge-free ATMs nationwide through the CO-OP Shared Network.

Will there be any disruption to debit card service during the transition?

During the weekend of March 29-31, 2024, although unlikely, you may experience intermittent interruptions to the use of your debit card. We will do everything possible to limit any interruptions. We encourage you to check your current balance ahead of this time.

Will I need to change any automatic payments tied to my current Powerco Checking Account or debit card?

You will not need to change any automatic payments tied to your existing Powerco Checking Account or debit card unless your account number changes, or your debit card is reissued.

Can I continue using the Powerco checks I have?

You can continue using your current checks until further notice.

Will my APCO Checking Account have overdraft protection?

APCO Checking Accounts offer overdraft protection from your Share Account. If you previously selected to have overdraft protection from your Share Account at Powerco, your overdraft protection will continue with your APCO Checking Account. If you would like to change this, reach out to your local branch or our Contact Center at 1-800-249-2726 on or after April 1, 2024. Please refer to the Overdraft Services Consent enclosed in your Merger Information Mailing Packet for detailed information regarding overdraft protection.

Can I link my new APCO Checking Account to a loan product for overdraft protection?

If you have a Prestige Line of Credit or a Home Equity Line of Credit, these loans will no longer function as overdraft protection for your Checking Account. Please refer to the Overdraft Services Consent enclosed in your Merger Information Mailing Packet for detailed information regarding overdraft protection.

If I want to set up a direct deposit to or a draft charge from my Checking Account, what account number should I use?

Use the account number listed on the bottom of your check.

How do I reorder checks?

Information is available on our website about check reorders, or you can reach out to your local branch or our Contact Center with any questions.

Credit Cards FAQs

Can I continue using my Powerco Visa® Credit Card?

No. Your existing card will not work after March 24, but your new card can be activated on Monday, March 25, 2024. Current Powerco Visa® Credit Cardholders will receive an additional mailing with more details.

Will my Powerco card history transfer to my new card number so I have access to the information if needed?

You will be able to access your credit card history online starting April 1, 2024, by accessing your credit card account through our Digital Banking platform.

Will I need to update payment information for my new card with current recurring payments tied to my existing Powerco Visa Credit Card?

To ensure there is no interruption in recurring or preauthorized payments (utility companies, gym memberships, subscription services etc.), contact the merchant immediately on or after March 25, 2024, with the new card number and expiration date.

Can I use my APCO Visa Rewards Credit Card with my digital wallet?

For added convenience and security, your APCO Visa Rewards Credit Card is compatible with Apple Pay®, Google PayTM, and Samsung Pay®. All three platforms use contactless payment without the need to present your credit card. Learn more about Digital Wallets in our blog post.

Will my Visa Credit Card benefits continue?

Current Powerco Visa Credit Card benefits will transition to APCO Visa Rewards Credit Card benefits on March 25, 2024.

Loan FAQs

Will my loan due date(s) change?

Current payment due dates will remain in place for the life of your loan.

Where can I see my loan balance, payment amount and amount due?

You will be able to view your loan details in Online and Mobile Banking.

Will recurring payments or transfers continue?

Current Powerco online and mobile banking transfers will not transfer over. You will need to set these up using APCO’s Digital Banking on or after April 1, 2024. Existing auto-transfers (excluding Visa Credit Card payments) previously set up by a Powerco team member will continue as they are now.

Here are helpful links for enrolling in Digital Banking and setting up transfers:

For detailed instructions on registering for Digital Banking, see our step-by-step guide to enrolling in Online and Mobile Banking with APCO Employees Credit Union

For detailed instructions on completing transfers in Digital Banking, see our step-by-step guide to setting up a one-time or recurring transfer through Online and Mobile Banking.

 

 

How can I make my loan payments with APCO?

Starting April 1, 2024, you will make your loan payments payable to APCO Employees Credit Union. We offer several convenient options for loan payment. Choose the option that best fits your needs from our payment methods below.

  • Digital Banking: Pay with a one-time or recurring transfer in our Online Banking or Mobile Banking App. See our step-by-step guide to setting up a one-time or recurring transfer through Online and Mobile Banking.
  • Branch: Stop by any branch.
  • Mail a Check: Note your loan number in your check’s memo line and mail to APCO Employees Credit Union, PO Box 2288, Birmingham, AL 35201.
  • Online: Pay on our website with a credit or debit card from another financial institution.
  • Contact Center: We can transfer your payment from your APCO Share (Savings) or Checking Account to your loan.
  • Automated Teller System: Payments can be transferred from your APCO Share (Savings) or Checking Account by calling 1-800-249-2726 and selecting “Automated Teller System” from the menu.

Have additional questions?

If you have questions not addressed in the FAQs above, simply complete the form below, and click on the “Submit” button. You may also call our Contact Center at 1-800-249-2726.