First of all, Thank You for choosing to open an account with First Community Credit Union! In order to avoid inconvenience or multiple trips, we have created this article to answer any questions you may have about what you need to have in order to open a new account with us.
First, we need to establish your eligibility for membership. Credit Unions are not like banks and do require you to qualify for membership by being a part of the community our Credit Union services. There are several different ways to do this:
- Live or work in the Missouri counties of St. Louis, St. Louis City, St. Charles, Jefferson, Warren or Franklin.
- Live or work in the Illinois counties of Madison, Monroe or St. Clair.
- Have an immediate family member that lives or works in one of the aforementioned counties.
- Immediate Family is defined as spouse, child, sibling, parent, grandparent, grandchild, aunt, uncle, niece, nephew, first cousin or legal guardian and includes step, in-law and legally adoptive relationships.
- Have a member of your household work for or be retired from a company in one of the aforementioned counties.
- Household is defined as persons living in the same residence who maintain a single economic unit. Included in this definition is any person who is a member of and participates in the maintenance of the household.
Secondly, we need to verify your identity. There are multiple forms of identification we can use:
- Valid (unexpired) State Driver's License
- Valid (unexpired) State ID
- Valid Temporary State Driver's License
- Resident Alien Card
- Matricula Consular ID Card
- Permanent Resident Card
- United States Nonimmigrant Visa
- Valid (unexpired) Military ID
In the event you do not have one of the above listed IDs, a combination of two other forms may be acceptable but is at the branch management discretion.
Please note: the requirements for opening an account online are more strict as in-person verification is not an option online.
You must authorize us to pull a credit report to further verify your identity IF you are a brand new membership applicant.
Third, we need to fund your new account. Every new account starts with a Share Savings Account. The minimum balance required in this account at all times is $1.00. In order to completely open the account, it must be funded with at least $1.00. There is no minimum balance on our Checking Accounts.