FAQs

A credit union is very similar to a bank, but with some key differences. We offer many of the same services and products that banks do, but we are not-for-profit financial cooperatives where members (that's you!) are the owners. This means that we give our profits back to you by offering lower fees and better rates!

You do! As a member of Ancorum Credit Union, you're an owner. Each member has an equal share and a voice in how the credit union is run, regardless of how much money you keep with us.

If you live, work, or worship in Androscoggin, Cumberland, Franklin, Kennebec, Knox, Lincoln, Oxford, Penobscot, Piscataquis, Sagadahoc, Somerset, or Waldo counties, you can join!

You are also in our Field of Membership if you are a member of the Maine Organic Farmers and Gardeners Association (MOFGA) or Maine Farmland Trust (MFT).

It's super simple:

1. Be in our field of membership (see Field of Membership above);

2. Open a Share Savings account with a valid government-issued ID and just a $5 minimum deposit; and

3. Enjoy all our awesome services and products!*

The best part? You can become a member right on our website!

* Must meet all membership eligibility requirements to establish membership. Some services and products may not be available to all members.

Just $5! That's all it takes to start enjoying the benefits of membership!

Losing your card or having it stolen can be stressful, so take a moment to breathe! Here's what to do:

1. • If your card was lost/stolen in the US, call 888-241-2510 to report it.

   • If your card was lost/stolen outside the US call 909-941-1398 to report it.

2. Stop by one of our 16 branches to order a new card or send us a message through digital banking. Need a new card now? Check out our instant issue locations for a same-day card replacement.

3. Keep an eye on your transactions. There's a chance it could have been used before you reported it lost/stolen. If you see something that doesn't look familiar, report it immediately.

If you're 100% sure it's fraud (the transaction came out of nowhere and you know you didn't do it, and no one you know used your card), we can file a dispute right away - no need to wait 15 days.

For other transactions (like you bought something and never got it, or you canceled a subscription but they're still charging you), talk to the merchant first. If they say they'll give you a refund or offer another form of resolution, you must allow the merchant 15 days to provide the refund or other resolution. If it's been 15 days or they refuse to refund you, then you can file a dispute with us, and we will work with VISA to try to get your money back.

Remember to always keep a record of when you reached out to the merchant, who you talked to, and what they said.

Sometimes merchants use different names when they process a payment, so check to see if the amount matches any recent purchases you've made. If you're still not sure, reach out to the merchant and see who they are and what the transaction was from. If you still don't recognize it, let us know ASAP.

Just call 866-762-0558 and follow the steps to update your PIN.

There's no need to notify us for trips in the US, but if you're heading abroad, give us a head-up so we can make sure your cards will work!

You can visit our Auburn, Augusta, Scarborough, or Topsham branches for a same-day card replacement for $10.

• ATM Withdrawals: $500 per day

• In-Store/Online: $3,000 per day

Here's the details for an incoming wire:

• Wire to: Tricorp Federal Credit Union, 2 Ledgeview Dr., Westbrook, ME 04092, ABA/Routing: 211291666

• For Further Credit to: Ancorum Credit Union, 765 Washington St., Bath, ME 04530, Ph: 800-750-0959, ABA/Routing: 211287463

• Final Credit to: Member's name, member's physical address, and account number.

• Incoming Wire Transfer: $5

• Domestic Wire Transfer: $25

• International Wire Transfer: $50

• Domestic Wires: Cut-off at 4PM. Wires sent after this time will be processed the next business day.

• International Wires: Cut-off at 3PM. Wires sent after this time will be processed the next business day.

• Savings Account Number: Check the top of your paper or e-Statements to find your savings account number. You can also find your savings account number in digital banking by:

  • Mobile: Click the savings account, click “Show Details” on the top right, then click the eye icon next to “Account Number.”

  • Desktop: Click the savings account, then click on the eye icon under the name of the savings account.

• Checking Account Number: Find your checking account number at the bottom of your checks (it's the 12-digit number), or you can find your checking account number in digital banking by:

  • Mobile: Click the checking account, click “Show Details” on the top right. Your checking account number is listed under “MICR Account Number.”

  • Desktop: Click the checking account, then click “Account Details” in the middle of the screen. Your checking account number is listed under “MICR Account Number.”

Yes! Your money is safe and sound, insured up to $250,000 by the National Credit Union Administration (NCUA) - just like the FDIC but for credit unions.

All you have to do is give your payroll department our routing number (211287463) and your account number.

• For direct deposit into your checking, use your full 12-digit checking account number.

• For direct deposit into your savings, use your member/base account number (just skip the -00 at the end).

Did you know we also have early access direct deposit? Depending on your payor's support and the timing of your payor's payment instructions, you could get your paycheck early!

Send us a message through digital banking with your new physical and/or mailing address, and we will update it on our end. You can also visit a branch and sign an Address Change Form.

• Order through digital banking by clicking your checking account and selecting "Check Ordering;"

• Swing by a branch and order with a teller; or

• Just give us a call, and we'll handle it over the phone.

Courtesy Pay is a service that covers overdrafts up to $675 on some checking accounts. There's a $30 fee for each item paid that's over $10. Your account will need to meet certain criteria to qualify for Courtesy Pay, and some restrictions apply. For all the details, contact us.

• Ancorum CU ATMs: Funds are on hold for three (3) business days until verified, then released according to our Funds Availability Policy.

• Non-Ancorum CU ATMs: Funds are on hold for five (5) business days.

• Nightdrop: Deposit made before 3PM on a weekday? They'll be made available that same day. After that, funds will be available the next business day.

Whether you're a member or not, you've got options:

• Online: Apply straight on our website.

• Over the Phone: Give us a call and we'll help you out.

• In Person: Visit any of our branches.

• Video Banking: Chat with us face-to-face online.

Send them to:

Ancorum Credit Union
P.O. Box 598,
Bath, ME 04530

Yes! You can change your due date once during your loan's life*, just contact us!

*Real Estate Loans, Home Equity Loans, credit cards, lines of credit, and Safety Net Loans can not have their due date changed.

Automatic payments pull in the evening, and if it's a holiday or weekend, it'll pull the next business day. But don't stress - holiday or weekend automatic payments won't ding your account.

• Credit Cards: Up to $30 after 5 days

• All Other Consumer Loans: Up to $10 at day 15

You can find our app here:

Apple Store

Google Play

Getting started with the new digital banking will be easy:

1. Enter the login info you used for our previous digital banking.

2. Click “Create New Password” to set up your account.

3. Read and accept the Password disclosure, and then select the correct password reset option for you.

4. Provide your username, member number, Social Security Number, zip code, and either your email or phone number.

5. Choose how you’d like to receive your verification code (voice, text, or email).

6. Enter the verification code you receive.

7. Create your new password.

8. Review your contact information, and check if you’d like to receive e-Statements.

9. Read and accept the Digital Banking Agreement, and you’re all set!

You will use your current username and this new password to log in moving forward. Welcome to the upgraded digital banking experience!

The easier question may be what can't you do! In our digital banking app, you can:

• View balances;

• Transfer funds (within your accounts, to another member, or to another financial institution);

• View statements;

• Order checks;

• Find account numbers;

• View transaction history;

• Open accounts;

• Apply for a loan;

• View Diamond Rewards;

• Make loan payments;

• Deposit checks;

• Pay bills;

• Message us; and

• So much more!

Absolutely! We use two-factor authentication and the latest tech to keep your info safe and sound. Remember not to give out your username or password to anyone.

If you need a full reset, contact us and we will help you sign up again. If you just forgot your username or password, use the "Forgot?" button to recover it.

All you need is to be signed up for Digital Banking! Just log in and select the Bill Pay tab in the menu.

Nope, Bill Pay is free! But there is a $30 stop payment fee if you need to stop a payment that's already in process.

Yes, you can! When you set up or edit a Bill Pay, you can choose the frequency of your payments to be anywhere from just once all the way up to annually.

You can edit payee information directly within the Bill Pay portion of our Digital Banking. Just select the payee you want to edit and hit the little pencil icon in the top right! Make sure to save your changes when you're done.

Yes, there's about a 6-day lag between when the payment is sent and when it is received. We advise scheduling your payment for about a week before the due date to make sure you aren't late.

• For a Company: You'll need the company name, phone number, account number, and company address.

• For a Person: It depends on the payment method you are choosing. You will need their name and phone number, plus one of the following: account and routing number, email, or address.

Yes, you can! Ancorum CU is part of the Shared Branching Network, so you can access your account at any credit union that is also a part of the Shared Branching Network.

You'll need a government-issued valid photo ID (like a driver's license, state ID, military ID, or passport) and your member number (your checking account number won't work).

Continue using Five County Credit Union when accessing your account through shared branching until September 15th.

No, we're not able to handle foreign currency.

We do not offer Safe Deposit Boxes.

Yes! We've got two - one in our Bath branch and one in our Topsham branch. Members and non-members can use the machines, but there is a 3% fee for members and an 8% fee for non-members. These machines only accept US currency, and the coins must be clean of any debris.

Yes, we do! Each branch has at least one notary public. It's best to make an appointment or call ahead for notary services to make sure they're available to assist you.

Yes! You can text us at 1-800-750-0959 or 207-443-3528 for general questions like branch hours or appointment confirmations. Please note:

• Texting is not a secure channel, so avoid sharing sensitive information like Social Security numbers, account numbers, or login details.

• We will never ask for personal or account information via text.

• Be cautious of spoofing - if you receive a suspicious text claiming to be from us, contact us immediately.

For account-specific inquiries, please call, visit a branch, or use digital banking. For texting terms and conditions, click here.

Private student loans are provided by private lenders - banks, credit unions, and online lenders. You can use private loans to pay for education costs and living expenses, which your federal education loans might not cover. Interest rates and terms on private student loans can vary, depending on your financial situation, credit history and the lender you choose.

You can use private student loans to pay for education-related costs and living expenses, which your federal school loans might not cover. Some uses include:

• Tuition and fees

• Room and board

• Housing utilities

• Meals and groceries

• Books

• Supplies

• A personal computer you'll use for school

• Dependent childcare expenses

There are several types of student loans:

Federal student loans are offered by the U.S. Department of Education and have interest rates set by Congress. These loans also provide benefits and protections that private student loans don't offer, such as access to federal deferment and forbearance options, income-driven repayment programs, and student loan forgiveness programs.

Undergraduate student loans include both federal and private student loans that are used to pay for your undergraduate studies.

Parent PLUS loans are available to parents who want to help their child pay for school. Unlike other federal student loans, PLUS loans require a credit check, and you might not qualify if you have an adverse credit history, such as a default, delinquent account, or repossession. Keep in mind that some private lenders offer parent student loans, too - though these don't come with the federal protections that PLUS loans offer.

Graduate student loans can be used to help you pay for grad school. Direct Unsubsidized Loans and Grad PLUS Loans are two types of federal student loans that can be used for graduate programs. There are also several private lenders that offer graduate student loans.

MBA student loans can help you finance a business degree. While you might be able to use a general graduate student loan to pay for these costs, there are also private lenders that offer specialized MBA loans.

Law school student loans can be used to pay for a law degree. You can take out general graduate student loans for this, or borrow specialized law school loans from certain private lenders.

Medical school student loans can help you cover expenses while attending med school. Some medical school loans also sometimes let you defer payments until after residency. 

Tired of seeing rate ranges and not knowing where you fall in the range? The Ancorum Credit Union marketplace allows you to compare real, pre-qualified student loan rates through a single form. Think of it as Expedia or Google Flights of student loans.

With our marketplace, you can compare real repayment plans from multiple lenders side-by-side so you know precisely how each loan stacks up when it comes to APR, monthly repayment, total repayment amount, and repayment options. 

Student loan interest works by adding a percentage of the loan amount to your outstanding balance over time. This interest rate represents the cost of borrowing money. When you make monthly payments, a portion of the payment is allocated towards covering the accrued interest, while the remaining amount goes towards reducing the principal balance (the original loan amount). Choosing a lower interest rate can help you save money over the life of the loan and accelerate the process of paying off your debt. 

Before you borrow, you'll need to decide whether you want a fixed- or variable-rate student loan. Here's the difference between the two:

• A fixed-rate will stay the same over the course of your loan term. This also means your payments won't ever change.

• A variable rate can fluctuate and possibly even increase over time. Because of this, your payments might rise or fall. 

While private student loans can be a helpful option in some cases, they also come with drawbacks to keep in mind, including:

• No federal benefits: Private student loans don't come with federal benefits and protections. For example, you won't be eligible for student loan forgiveness programs or federal deferment and forbearance options.

• Lack of repayment options: Unlike federal student loans, private student loans don't provide a variety of repayment options. For example, private student loans typically don't offer income-driven repayment or graduated repayment plans.

• Potentially higher interest rates: If you have excellent credit, you might get approved for a lower interest rate on a private student loan compared to a federal loan. However, many college students haven't yet established enough of a credit history to qualify for these rates - so unless you have a cosigner, you'll likely get a higher rate on a private student loan.

With a private student loan, you're eligible to borrow up to 100% of what your school says it costs to enroll and attend classes (the "cost of attendance"), minus other financial aid and loans you've already received.

How much you can actually borrow will vary by lender and can include annual or cumulative borrowing limits. Other private lender criteria that can affect how much you can borrow might include your credit history, the credit qualify of your cosigner, your school's certified cost of attendance, the degree you're earning and more. 

Receiving the funds for your private student loan depends on whether you're borrowing an in-school loan or refinancing an existing loan.

For in-school private student loans, the funds are typically sent straight to your school to cover tuition. The school then gives the rest of your loan money directly to you, the student, for other expenses related to getting your degree, such as housing.

Your school sets the disbursement date (when you actually receive the money), which is usually around the beginning of the semester. Regardless of when you applied for the loan, your school's disbursement date will be the same. However, it's best to apply early so that you can avoid any unexpected confusion or delays. 

We suggest giving yourself at least 30 days to be safe, but be sure to contact your financial aid office to learn more about accessing your funds.

For student loan refinancing, no new funds are disbursed. Instead, your new private lender pays off your existing loan(s) and gives you a new loan with new terms. This generally happens within a few days, but always check with your lenders(s).

You can apply for private student loans at any time since there's no deadline tied to them (like filling out the FAFSA for federal loans). But it's still a good idea to apply for private loans as soon as you know you'll need them to cover education costs.

Although it varies depending on the lender and your school, it can sometimes take 3 to 5 weeks for you to receive the funds. So, if you're trying to decide when to apply for a private student loan, be sure to give yourself some time and apply sooner rather than later. 

Each lender has different requirements when it comes to qualifying for a private student loan. But typically you must:

• Have a qualifying credit score (or a cosigner with one)

• Have a qualifying income and debt-to-income ration (DTI) (or a cosigner with one)

• Be enrolled in an eligible education program

• Be a U.S. citizen or legal resident with a Social Security number

• Be at least 18 years old and hold a high school diploma or equivalent (or have a cosigner)

• Use the loan for education purposes only

You can get a student loan with bad credit, but not necessarily on your own. While federal loans don't require a credit check, private student loans do. Many students don't qualify for private loans on their own because they don't have a credit history or they have bad credit. If that's your situation, you may need to add a cosigner to qualify for a private loan.

Private student loans require a credit application that examines income, employment, and a credit report. The lower your credit score, the higher the risk for the lender, which translates into higher interest rates. One way to get approved for a loan with a lower rate can be to add a creditworthy cosigner to your loan application. 

It depends, but in most cases, yes. You don't have to add a cosigner unless you're under the age of majority in your state (usually between 18 and 21). But if you have a limited or poor credit history, lenders may require you to add a creditworthy cosigner to reduce their risk on the loan.

Plus, more than 90% of private student loans taken out by undergraduate students are cosigned. Even if you're a graduate student and don't need one, adding a cosigner with good credit can improve your chances of qualifying for a private student loan at a lower rate.

Our marketplace even makes it easy to compare cosigners to see which cosigner can help you get the best rate. 

New Vehicle Loan Interest Tax Deduction (2025–2028)

For tax years 2025 through 2028, taxpayers may deduct up to $10,000 per year in interest paid on qualifying new vehicle loans used for personal purposes.

Members with qualifying vehicle loans will receive a letter from us in January containing the information needed for tax preparation. There is no IRS-submitted form for 2025, so this letter should be provided to whoever prepares your taxes.

About the Deduction

The One Big Beautiful Bill Act (OBBBA) creates a temporary federal tax deduction for interest paid on qualifying new-vehicle loans.

Key Details

• Maximum deduction: Up to $10,000 per year in interest
• Available tax years: 2025–2028

Loan Requirements

• Loan must begin after December 31, 2024
• Loan must be for a new vehicle
• Vehicle must be used primarily for personal purposes

Vehicle Requirements

• Final assembly must occur in the United States
• Eligible vehicles include cars, vans, SUVs, pickups, minivans, and motorcycles
• Vehicle must weigh under 14,000 pounds
• Campers and motorhomes do not qualify

Helpful Tool

You can verify a vehicle’s final assembly location using the official VIN decoder:

https://vpic.nhtsa.dot.gov/decoder/