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Frequently Asked Questions

General FAQ's:

Account Opening FAQ's:

Quabbin High-Yield Savings Accounts:

Quabbin High-Yield Money Market Accounts:

Quabbin High-Yield CD Accounts:

Online Banking:

Account Maintenance:

Security:

E-Statements:

Q: Who is Quabbin Online Credit Union?

A: Quabbin Online Credit Union is an online division of Athol Credit Union that enables members to open and fund deposit accounts directly from the convenience of their personal computer. Additionally, it's a simple, smart, and secure way to actively control your money online while earning a highly-competitive interest rate on a savings or money market, and CD accounts.

Q: Is Quabbin Online Credit Union a financially sound organization?

A: Quabbin Online Credit Union is an online division of Athol Credit Union, ACU, and a NCUA insured institution established in 1930. Accounts at Quabbin Online Credit Union are NCUA and MSIC insured.

Q: Will my deposits be insured?

A: Yes, deposits at Quabbin Online Credit Union, a division of Athol Credit Union, ACU, are NCUA insured up to the maximum allowable limits, $250,000! For further information on our NCUA insurance, click on http://www.ncua.gov/. Excess insurance is also provided by MSIC up to $600,000 per single account. For further information on our MSIC insurance, click on http://www.msic.org/.

Q: What is Quabbin Credit Union's charter number?

A: The NCUA number for Quabbin Online Credit Union is 66819.

Q: Does Quabbin Online Credit Union offer trust accounts?

A: At this time, Quabbin Online Credit Union does not offer trust accounts.

Q: Does Quabbin Online Credit Union offer custodial accounts?

A: At this time, Quabbin Online Credit does not offer custodial accounts.

Q: What is the routing and transit number for Quabbin Online Credit Union?

A: The Quabbin Online Credit Union routing and transit number is 211380344.

Q: Can I wire funds into my Quabbin Online Credit Union account?

A: Yes, by using the routing & transit number, 211380344, instruct the sender to include your name and your Quabbin Online Credit Union account number and you can wire funds into your account. A fee may apply from the sender. Quabbin Online Credit Union does not charge a fee to receive the wire for deposits over $10,000. Incoming wires under $10,000 will receive a fee of $15.00 per wire.

Q: How is interest Calculated?

A: Interest will be compounded daily and credited to your account monthly.

Q: How do I open an account on Quabbin Online Credit Union?

A: Click onto the "Open an account" button on the Quabbin Online Credit Union homepage, and then follow the instructions within the easy steps to complete your online banking application.

Q: What is a linked account?

A: At Quabbin Online we create an electronic link between your existing bank account you use for your initial deposit and your Quabbin Online account(s). This electronic link makes it easy for you to transfer money whenever you want. To make a deposit or withdrawal, simply initiate a transfer using our online banking.

Q: What type of accounts can I link?

A: Account types that can be linked to your Quabbin Online Credit Union account include checking, statement savings, and money market accounts.

Q: Can I open an account by telephone or mail?

A: With Quabbin Online Credit Union you can open an account online. At this time, Quabbin Online Credit Union does not accept applications via the telephone or mail.

Q: What types of accounts are offered by Quabbin Online Credit Union?

A: With Quabbin Online Credit Union you can open high-yielding savings, money market saving, and CD accounts.

Q: What do I do after my account has been approved?

A: You will receive a welcome email, reminding of any paper that needs to be mailed, faxed, or emailed to us. An additional email will follow that includes your username and password, which provides you online access to your new Quabbin Online Credit Union account. It may take up to five days to receive your online banking username and password.

Q: How do I view my account after it has been approved?

A: After your account has been opened and funded you will receive an email containing your username and password (it usually takes 4 - 5 business days), to log into your Quabbin Online Credit Union account. Visit our website, at www.QuabbinOCU.com to sign in using your username and password.

Q: Why do I have to wait for my username and password to access my Quabbin Online Credit Union account?

A: To ensure your personal identity, the credit union adds an additional security measure by waiting to make sure your account is properly opened and funded.

Q: Can I open more than one Quabbin Online Credit Union account?

A: Yes, and we offer a feature within online banking that allows you to rename your accounts for easy record keeping.

Q: Do I have to change banks to open a Quabbin Online Credit Union account?

A: No, after you have opened and funded your Quabbin Online Credit Union account, there is no limit to the number of external accounts (from other financial institutions) you can link to your account.

Q: Can I fund my Quabbin Online Credit Union account with a check?

A: Your Quabbin Online Credit Union savings, money market, or CD accounts can only be funded by linking your external bank account and initiating a transfer to your new Quabbin Online Credit Union accounts.

Q: Can I open an account by mail?

A: With Quabbin Online Credit Union you can open an account online only.

Q: What documents can I send for a change of address verification?

A: You can email, fax or mail any utility bill or bank statement that verifies your place of residence. PO Boxes are not accepted.

Q: My account application decision was "Review." What is the next step?

A: A Quabbin Online Credit Union Member Service Specialist will contact you regarding your online application and the credit union will advise you what documents are required to complete the online account process.

Q: What is a statement savings account?

A: A statement savings account is a secure place to put your money and earn a good amount of interest on a monthly basis. Most financial institutions offer these accounts to first-time investors and others looking to save for the future.

Q: Is there a difference between a regular statement savings account and an online high-yield statement savings account?

A: The biggest difference between a regular statement savings account and a Quabbin High-Yield statement savings account is the rates. Traditionally, people seeking a savings account had to resort to their local financial institution and settle on low interest rates. But now sites like Quabbin Online Credit Union have made high interest online savings accounts a more desirable way to save.

Q: How do I open a Quabbin High-Yield Savings Account?

A: A Quabbin Online Credit Union Member Service Specialist will contact you regarding your online application and the credit union will advise you what documents are required to complete the online account process.

Q: How do I view my Quabbin High-Yield Savings Account once it's been opened?

A: To view your Quabbin High-Yield Savings Account, visit our website, at www.QuabbinOCU.com to sign in using your username and password.

Q: Will I have to close my current savings account when I open my Quabbin High-Yield Savings Account?

A: No. After you open your Quabbin High-Yield Savings Account you can transfer the money you want from your current savings account.

Q: What is the current interest rate for a Quabbin High-Yield Savings Account?

A: To view the rate for a Quabbin High-Yield Savings Account and all other Quabbin Online Credit Union rates, click here.

Q: Are there any fees or minimums to open my Quabbin High-Yield Savings Account?

A: There are NO FEES and only a $25 minimum to open your Quabbin Online Credit Union High-Yield Savings Account.

Q: What is a money market account?

A: A money market account is a secure place to put your money and earn a good amount of interest on a monthly basis. Most financial institutions offer these accounts to investors and others looking to save for the future.

Q: Is there a difference between a regular statement savings account and an online high-yield money market account?

A: The biggest difference between a regular money market account and Quabbin High-Yield Money Market account is the rates. Traditionally, people seeking a money market account had to resort to their local financial institution and settle on low interest rates. But now sites like Quabbin Online Credit Union have made high interest online Money Market accounts a more desirable way to save.

Q: How do I open a Quabbin High-Yield Money Market Account?

A: To open a Quabbin High-yield Money Market account, click onto the "Open an account" button on the Quabbin Online Credit Union homepage, and then follow the instructions within the easy steps to complete your online account opening application. Remember to mail, fax, or email your signature sheet.

Q: How do I view my Quabbin High-Yield Money Market Account once it's been opened?

A: To view your Quabbin High-Yield Money Market account, visit our website, at www.QuabbinOCU.com to sign in using your username and password.

Q: Will I have to close my current Money Market or Savings account when I open my Quabbin High-Yield Money Market Account?

A: No. After you open your Quabbin High-Yield Money Market account you can transfer the money you want from your current savings or money market account.

Q: What is the current interest rate for a Quabbin High-Yield Money Market Account?

A: To view the rate for a Quabbin High-Yield Money Market account and all other Quabbin Online Credit Union rates, click here.

Q: Are there any fees or minimums to open my Quabbin High-Yield Money Market Account?

A: There are NO FEES and only a $25 minimum to open your Quabbin Online Credit Union High-Yield Money Market account.

Q: Do I receive checks with my Quabbin High-Yield Money Market Account?

A: Yes. Your first order of checks is FREE! Any additional checks ordered will be charged to your account.

Q: How do I order more checks for my Quabbin High-Yield Money Market Account?

A: Simply login to Online Banking and select the "Online Services" tab and select which Quabbin Online Money Market account you would like to order checks for.

Q: Are there any restrictions on how I use my Quabbin High-Yield Money Market Account?

A: Yes. You can only use your Quabbin Online High-Yield Money Market account for 6 withdrawals per month, either by check or electronic transfer. You can make unlimited deposits into your account.

Q: Do I receive an ATM or Debit Card my Quabbin High-Yield Money Market Account?

A: Quabbin Online Credit Union does not offer ATM or Debit Cards at this time. Simply write out a check off of your Quabbin High-Yield Money Market account or make an electronic transfer.

Q: What is a Certificate of Deposit (CD)?

A: A certificate of deposit, more commonly known as a CD, is a long-term time deposit that allows you to take advantage of higher interest rates than those offered through a typical savings account.

Q: What are the CD interest rates for a Quabbin High-Yield CD?

A: To view the rates for a Quabbin High-Yield CD and all other Quabbin Online Credit Union rates, click here.

Q: Is there a difference between a regular CD and a Quabbin High-Yield CD?

A: Since most CD's are high yield, the biggest difference between a regular CD and Quabbin High-Yield CD is the convenience factor. At Quabbin Online Credit Union, it's fast and easy to set up your Quabbin High-Yield CD online.

Q: How do I open a Quabbin High-Yield CD?

A: To open your Quabbin High-Yield CD and take advantage of our great CD interest rates, click onto the "Open an account" button on the Quabbin Online Credit Union homepage, and then follow the instructions within the easy steps to complete your online banking application.

Q: How do I view my Quabbin High-Yield CD once it's been opened?

A: To view your Quabbin High-Yield CD, visit our website, at www.QuabbinOCU.com to sign in using your username and password.

Q:How long can I open my Quabbin High-Yield CD for?

A: You can open your Quabbin High-Yield CD from 6 months to 5 years. See the rates page for more information on CDs and CD interest rates.

Q: Are there any fees or minimums to open my Quabbin High-Yield CD?

A: There is minimum balance of $5000 to open your Quabbin high-Yield CD and there are no fees.

Q: Is there a penalty for early withdrawal for my Quabbin High-Yield CD?

A: Yes, Early withdrawal penalties may apply. A penalty may be imposed for withdrawals before maturity:

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.

Q: What is the process to close my Quabbin High-Yield CD account during or after the grace period?

A: Depending on what you chose during the account opening process, you can either have your CD rollover to the same term at the current rate or have the funds electronically transferred into another Quabbin Online Credit Union account during the grace period.

In order to close your Quabbin High-Yield CD account during or after the grace period you must send us a signed letter informing us what to do with the funds.

Q: Will I be sent a maturity notice for my Quabbin High-Yield CD?

A: Yes, you will be sent a maturity notice 30 days before the maturity date to your home address.

Q: Can I add money to my Quabbin High-Yield CD once it's opened?

A: No, the only time you can add money is if you choose to close it out and open a new Quabbin High-Yield CD.

Q: How many additional accounts can I link to my Quabbin Online Credit Union Accounts?

A: After you have opened and funded your Quabbin High-Yield Savings Account, there is no limit to the number of external accounts (from other financial institutions) you can link to your account.

Q: How do I link an additional account to my Quabbin High-Yield Savings Account or High-Yield Money Market Account?

A: Once you have signed into online banking simply:

  1. Click onto the Account Access tab.
  2. Select the External tab.

Click on the Add Accounts tab and follow the simple and easy instructions on page.

Q: What if I forget my password?

A: If you forget your password, click on Forgot your password? and follow the steps to have your password reset. If you need further assistance, call Quabbin Online Credit Member Support during regular business hours (Monday and Friday - 8:30 a.m. to 5:00 p.m. and Tuesday, Wednesday, and Thursday - 8:30 a.m. to 8:00 p.m. EST) at 1-888-978-2224.

Q: Who is responsible when individuals other than myself make transactions from my accounts using Online Banking?

A: You are responsible for all transfers and other transactions you authorize using Online Banking. If you permit other people to use your username and password to access Online Banking you are responsible for any resulting transactions from your linked accounts. We will not be liable for and will not reimburse you for any losses that may occur as a result of this authorized use of your username and password. You are responsible for keeping your username and password confidential.

Q: Can I look at all of my transactions at any time?

A: Yes, Online Banking, you have access to your account information 24 hours a day, 7 days a week!

Q: Can I view my account history in Online Banking?

A: Yes, you can access Account History through the Account Summary section of Online Banking.

Q: Can I add a beneficiary to my Quabbin Online Credit Union account?

A: At this time you cannot add a beneficiary to a Quabbin Online Credit Union account.

Q: My initial transfer set-up does not show in the drop-downs when I click transfer funds. Why?

A: Since Quabbin Online Credit Union offers the ability to set-up an unlimited amount of accounts, your initial funding account, along with any other deposit account, will need to be re-verified.

Q: How do I make deposits and withdrawals into my Quabbin Online Credit Union accounts?

A: All deposits and withdrawals can be initiated during your internet banking session online.

Initiating a withdrawal from your Quabbin High-Yield Savings or Quabbin High-Yield Money Market account involves a similar process: in the "Transfer Funds" section, select your Quabbin account; then select the appropriate external account you wish to transfer the funds to.

Q: Are there other ways to make deposits and withdrawals from my Quabbin High-Yield Savings Account?

A: Yes, to make a deposit or withdrawal you can choose to initiate a wire transfer from one of your external bank accounts. There may be a fee charged. You can also mail us a check to have deposited into your Quabbin High-Yield Savings account.

Q: Are there other ways to make deposits and withdrawals from my Quabbin High-Yield Money Market Account?

A: Yes, to make a deposit or withdrawal you can choose to initiate a wire transfer from one of your external bank accounts. There may be a fee charged. You can also mail us a check to have deposited into your Quabbin High-Yield Money Market account. You can also choose to write out checks drawn from your Quabbin High-Yield Money Market account.

Q: What is the latest time I can schedule a premium transfer for the next day?

A: 5:00 pm PST.

Q: Are there funds transfer limits on my account?

A: Yes, you can transfer funds to and from your Quabbin Online Credit Union accounts up to $2,000 per day or $5,000 every 30 days. You can increase your limits up to $15,000 per day and $25,000 every 30 days by simply completing $1,000 in incoming and outgoing transfers and having no overdrafts or insufficient funds for 60 days.Your individual limits can be viewed in the "Transfer Funds" section while you're logged into your internet banking session. A new transfer cannot be initiated until after the previous transfer has been completed.

Q: When are deposits available for withdrawal?

A: All incoming deposits are held for 5 business days.

Q: Can I set-up direct deposit to my Quabbin Online Credit Union accounts?

A: Yes, the two required items to set-up a direct deposit are Quabbin Online Credit Union routing & transit Number (211380344), and your Quabbin Online Credit Union account number. This is a simple and easy way to actively control your money and watch your savings grow.

Q: Can I set-up notifications on my Quabbin Online Credit Union accounts?

A: Yes, the notifications feature is available to all Quabbin Online Credit Union members within Online Banking. Simply click on the "Notifications" tab.

Q: Is Online Banking System secure?

A: Our Online Banking System is secure. In fact, our Online Banking members are required to use a browser with one of the highest forms of encryption available for today's popular browsers. This means that information passing from your computer to our server is scrambled, making it virtually impossible for anyone to access your account information. Our Online Banking system uses 'Multifactor Authentication', which protects against phishing, pharming and dictionary attacks, as well as keystroke logging viruses. This system protects against online fraud by providing an additional end user authentication 'factor' beyond the username and password logons. Multifactor Authentication works by recognizing the computer terminal that you used to sign up for Online Banking. If you use another computer to logon to Online Banking, our system will recognize this and ask you to answer a series of security questions that you had set up the first time you signed into Online Banking.

Q: Why does the system "time out" occasionally?

A: For your protection, Online Banking automatically disconnects after 10 minutes of inactivity. You may change your inactivity period in the "User Options" section of Online Banking.

Q: What are the system requirements for Online Banking?

A: You will need the latest version of Netscape Navigator or Microsoft Internet Explorer, along with an additional security download from Microsoft (Service Pack 2) to ensure a maximum (128-Bit) encryption. You must also have JavaScript enabled on your browser. Visit http://www.microsoft.com/windows/ie/default.mspx for free downloads.

Q: Can I access Online Banking from any computer?

A: You can access your Online Banking accounts anywhere you have Internet access and a 128-bit browser. In order to view your accounts you will be required to answer a series of security questions that you had set up when you initially signed into Online Banking. After you have completed these security questions you will be given the option to enroll that computer in addition to your original terminal.

Q: As a Quabbin Online Credit Union member, how can I ensure that my identity is protected?

A: NEVER provide personal identifying information in response to an unsolicited request. Quabbin Online Credit Union will never ask or solicit you for any information pertaining to your password (s). If you suspect that you have been the victim of fraudulent internet activity, contact Quabbin Online Credit Union at memberservice@quabbinocu.com and the Federal Trade Commission at www.consumer.gov/idtheft or by calling 1-877-IDTHEFT immediately.

Phishing is an internet criminal activity which attempts to fraudulently acquire sensitive information, such as usernames, passwords, and credit card details. Phishing is typically carried out by email, often directing users to give personal and confidential information at a legitimate looking website. Different approaches include reasons such as but not limited to:

The urgent tone of these emails encourages people to act immediately and, on occasion, threatens that the account could be closed or cancelled.

Q: What is an eStatement?

A: eStatements is a service provided by Quabbin Online Credit Union. As an Online Banking user, you have the option to view your eStatements during your Online Banking session. In addition, Quabbin Online Credit Union will send you an email notification each time a new eStatement is available.

Q: How do I access my eStatements?

A: You can access your eStatments within your Online Banking session. As an eStatement user, you will receive emails when your monthly eStatement is available. To access your monthly eStatement, simply click the link embedded in the email.

Q: What are my eStatement access requirements?

A: To access eStatements, you need the latest version of Netscape Navigator or Microsoft Internet Explorer. You can download a free browser by accessing one of the links below:

Microsoft Internet Explorer: http://www.microsoft.com/windows/ie/

Netscape: http://browser.netscape.com/

Q: How often will I receive an e-statement on my Quabbin High-Yield Savings account?

A: Monthly, you will receive an email notification that your statement is available for viewing. Your e-statement is electronically posted monthly.

Q: How often will I receive an e-statement on my Quabbin High-Yield Money Market account?

A: Monthly, you will receive an email notification that your statement is available for viewing. Your e-statement is electronically posted monthly.