Yes, through a contract with an organization called BALANCE, members of this credit union can receive FREE financial counseling and debt management assistance. There is no charge, for credit union members, except that if a credit report is requested, the member would need to pay a fee for the credit report. Click HERE for more information about the Balance Program
The parish credit union provides fair and reasonably priced consumer loans to members, as well as savings products and products and services. The credit union is open in the Ministry Center, convenient to those who attend Mass at Our Lady, Queen of Peace. The first priority is always the best interest of the credit union member.
We are subject to annual audits (by our Supervisory Committee) and regular examinations (every 12 months, on average) by federal examiners from the National Credit Union Administration (NCUA), our primary federal regulator.
Member shares are insured to at least $250,000 by NCUA, a Federal Government agancy.
Note: By Clicking on the link above, you are leaving the credit union web site www.qpafcu.com.
By our Federal Charter and Bylaws, membership in the Queen of Peace Arlington Federal Credit Union is open to:
1. Members of Our Lady, Queen of Peace Church, Arlington, Virginia; 2. Employees of Our Lady, Queen of Peace Church, Arlington, Virginia (including employees of the Early Learning Center); 3. Employees of the credit union; 4. Organizations consisting completely of the previous named categories of persons; 5. Immediate Family members and Household members of such persons.
Immediate Family members (no matter where they live) means spouse, child, sibling, parent, grandparent, grandchild, stepparents, stepchildren, stepsiblings, and adoptive relationships.
Household is persons sharing a single economic unit, such as housemates, more distant relatives living with you, etc.
Family and Household can join even if the "primary" eligible person is not a member.
Once a family or household member joins the credit union, eligibility extends to their family, household, etc.
See #1 above for information about requirements for opening an account. Contact the credit union for additional information.
Over the years, there have been changes in Federal laws and regulations affecting who can join the credit union. Such changes are not within our control, and we must comply with these changes in laws and regulations. Please check with us if you have any questions about eligibility for credit union membership
No! As long as you are in the field of membership, outlined above, you may join the credit union. Once a credit union member, you may remain a member as long as you keep the required amount in your account, have the required activity and follow the rules set by the credit union.
Yes. As long as an eligible member has a social security number and we can comply with the money laundering and anti-terrorism regulations, an account can be opened. This account can be opened in the child's name (if the child can sign transactions), jointly with one or more other persons [such as parent(s)], or with a custodian under the Virginia Uniform Transfers to Minors Act (VUMTA).
Please be aware that the child can withdraw funds if the child is the owner of the account. With a VUMTA account, the custodian must turn over the funds to the child at the age of 18 or 21 (as specified when the account is opened).
See first item above for information about requirements for opening an account. Contact the credit union for additional information.
Under Virginia law, only a parent can open an account for a young child (too young to sign themselves). So, for example, the parent(s) of a young baby could open an account for the baby (in the baby's name), as long as they had a Social Security Number. There may be other account options for grandparents. See the credit union for details.
Probably YES! If your employer can do an electronic transfer of a deduction from your pay through the ACH (Automated Clearinghouse System), we can process it. The answer is a definite YES for Federal employees, military and employees of the church. More and more private employers, as well as local governments and school systems are providing this capability. If you can not have a payroll deduction, consider requesting an automatic deduction from your checking account to your credit union loan and/or savings account.
YES, we can do that NOW. You will need a voided check or deposit ticket from that account at the bank or other credit union. You may have transfers done on the 1st, 8th, 18th or 28th of the month. We also offer transfers on Fridays, either every other week (either cycle) or every Friday. There is no charge for this service.
Please contact the credit union for details.
We charge a one-time $1.00 entrance fee at the time the account is opened. There are early withdrawal fees for Christmas Club, Vacation Club and Share Certificate accounts. Also, in the event that a member's check deposit or electronic transfer is returned, there is a $7.50 charge. We will also pass along fees charged by our bank if some kind of subsequent action is requested, such as a stop payment is requested.
We also have a charge if the savings account goes below the required minimum balance of $25.00 or if an account is inactive (other than dividends and fees) for a period of 36 months and the balance is below $100.00.
If you do not notify us of a change of address, and we receive that address from the post office, we charge $1.25.
Please contact the credit union for full details.
If this is a routine question, contact the credit union for clarification/correction. If the error is not corrected to your satisfaction OR the error appears on a statement during an account verification, contact the Supervisory Comittee: Chair Richard Melia, 4303 S 6th St, Arlington VA 22204. Phone 703.892.6891.
The Supervisory Committee is responsible for conducting an annual audit of the credit union, a biannual account verification and verifying that the credit union is operated in a safe and sound manner.
Yes, a designation of "Payable On Death" (POD) for an individual account would have the money paid directly to that person in the event of your death. If the account is a jointly owned account, the POD designation would take effect on the death of the last joint owner. Please note that this designation (POD) overrides any provisions of your will. See us for details, and to review the account agreement.
Probably. We have special forms for opening such accounts. The Grantors of the Revocable Trust would need to be eligible to join the credit union.
As an alternative, you could open an individual or joint account and name the Revocable Trust as a POD (Payable On Death) Beneficiary.
Yes. When you fill out your tax return, spefify the credit union's Routing Number (256078459), "Savings" (not checking), and specify your credit union account number.
By joining the credit union, and depositing money into a share (savings) account, you help provide the funds for loans to other members. Excess funds are invested and provide income to pay the operating expenses of the credit union, as well as the funds to pay "Dividends" (like interest) on savings. When you borrow from the credit union (and pay back the loan on time), you provide income to pay such expenses as well.