What is a Credit Union?

A Credit Union is a not-for-profit financial cooperative, organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the Credit Union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.

Where are your offices located?

SHARE Credit Union has two offices one located on Lake Union and the other on the Swedish Medical Center First Hill campus. LOCATIONS

Who owns a Credit Union?

Credit Unions are owned by the members. While most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A Credit Union doesn't operate in that manner. Rather, each Credit Union member owns one "share" of the organization. The user of Credit Union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.

Are my deposits insured?

Yes. All savings accounts are insured up to $100,000 by the NCUA, the National Credit Union Administration, an agency of the federal government. For more information visit the NCUA SHARE INSURANCE site.

If I leave my current job can I keep my membership with SHARE?

Our philosophy on membership is "once a member - always a member". As long as you do not close your account after leaving our field of membership you are welcome to maintain your account with SHARE Credit Union.

What is the SHARE Credit Union routing number for a Direct Deposit?

For a Direct Deposit into your account the routing number is 325082156. If you want the money to go to your checking account use the account number on the bottom of your checks that starts with 79158. For a savings deposit use your member number.

What ATMs can I use for free?

SHARE Credit Union has partnered with the CO-OP NETWORK and the NWCU ALLIANCE to give you fee free access at hundreds of ATMs across the state. SHARE Credit Union does not charge a fee for ATM service regardless of where our members use their cards. Some ATM owners, however, charge you a fee to use their machine. SHARE Credit Union also operates three ATMs which are free for our members to use. They are located in the main lobby of the Swedish Medical Center(SMC) First Hill campus, the cafeteria at the SMC Ballard campus and in the FHCRC cafeteria. You can also use your VISA® debit card to make purchases and then use the "cash back" option at many merchants to obtain cash without a fee.

Where can I make an ATM deposit?

Many machines operated by the CO-OP NETWORK and the NWCU ALLIANCE will accept deposits. It is important to note that when you make an ATM deposit, a hold is usually placed on the funds until your deposit can be verified. This may delay the availability of your deposit for several days. Consider mailing your deposit directly to the SHARE Credit Union this is typically just as efficient. You can also make a deposit at one of the many Credit Unions in the SHARED BRANCHING network.

What if I forgot my PIN?

If you have forgotten your PIN you may choose a new one at our offices with your debit or ATM card present. If you have forgotten your online banking password or challenge questions please contact the Credit Union

How long does it take to approve a loan application?

We normally have a decision either on the date of application or by the next business day.

What happens if I make extra payments on my loan?

Paying extra payments on your loan will decrease the total interest paid. But on simple interest loans the interest due is calculated on a daily basis and when a payment is made the payment is applied first to the interest due and the balance is applied to the principal.

Why can't I make a double payment on my loan and skip the following month's payment?

The loan contracts require that the minimum monthly payment to be made each and every month. Our data processing system does not recognize loans as being paid ahead and loan delinquency could result if each monthly payment is not made. You are always welcome to pay more than the minimum payment, which will result in less interest over the life of the loan. Please pay at the least the minimum payment. If you are going to be out of town when your payment is due give us a call and we will make arrangements for payment.

Why do I get late notices for my loan, isn't there a ten-day grace period?

Technically there is no grace period on loans. If the payment is seven days past due, you could receive a reminder notice. If your monthly loan payment date does not work well with your paydays please give us a call to change the due date.

Why is my balance and available balance different?

The use of your Visa® debit card may cause a difference between the amounts of your balance and available balance. When the Debit Card is used, some merchants place a hold on the funds in your account until the actual debit is processed. If you have any questions about a merchant hold please call us at (206) 568-8080. A minimum balance of $25.00 must be maintained at all times in your savings account.

Why does SHARE Credit Union charge a fee for some services?

SHARE Credit Union operates on a not-for-profit basis. We do not charge a fee for most of the services we provide. Some services, however, require special handling, or have higher operating costs. We work to keep fees low, and usually they are lower that what other financial institutions charge. The fees we do charge are done to cover our operating expenses.