Thinking about leaving your big bank for a credit union? You’re not alone! Many people switch to credit unions to enjoy low fees, great rates, and personalized service. At Coast Central Credit Union, we believe starting a new financial partnership should be empowering, not exhausting. That’s why we’ve simplified every step of the process, making it easy to move your money with confidence. Explore our step-by-step guide to switching financial institutions:
What is a bank transfer and how does it work?
A bank transfer allows you to move money securely from one financial institution to another without handling cash. Most transfers today are electronic funds transfers (EFTs), ensuring your money arrives safely.
How do I switch to a credit union?
Follow these simple steps to open your Coast Central account and begin your membership:
- Become a member: You need to live or work in Humboldt, Del Norte, or Trinity counties.
- Gather your documents: You’ll need your Social Security number, a valid state or government-issued photo ID, and proof of your current address.
- Apply: You can apply online at coastccu.org or schedule an appointment at one of our Member Services Branches.
- Make your initial deposit: Open your Membership Savings account with a minimum deposit of $25.
- Open a checking account: After opening your required Membership Savings account, you can add a checking account online or in-branch. The most common option, Basic Checking, has a low minimum opening deposit.
How do I change direct deposit to my new credit union?
Provide your employer or payor with the following:
- Coast Central routing number: 321172248
- 12-digit Coast Central checking account number
You can also use our Direct Deposit Set-up Form to submit this information.
How do I move automatic payments to my credit union account?
Automatic payments are charges companies take from your account automatically, like streaming services, loan payments, or subscription services.
- List your payments: Identify all recurring automatic withdrawals currently linked to your old bank account.
- Update payment methods: Log directly into your various payee accounts.
- Provide new information: Update your payment method with your checking account number and Coast Central’s routing number.
- Monitor: Once you’ve updated the information, monitor your old bank account to ensure no more withdrawals occur, and monitor your new account to confirm the first new withdrawal is successful.
How do I transfer all my bill payments to a new credit union?
Bill payments are payments you schedule yourself through your bank, like utilities, rent, or one-time bills.
- Enroll in Bill Pay: Log into your Online or Mobile Banking and access the Bill Pay feature to enroll.
- Add payees: Click on Add a Payee to set up companies or individuals you want to pay and provide the required information.
- Schedule payments: Use the Bill Pay platform to schedule one-time or future-dated payments. From the Bill Pay site, you can also set up AutoPay (recurring payments) for your regular bills.
- Stop old payments: Remember to cancel or stop Bill Pay payments scheduled through your old bank once the transition is complete.
How do I close my old bank account?
Make sure all outstanding checks and pending transactions from your old account have cleared. Then, transfer your remaining balance to your Coast Central account. Finally, contact your old bank to officially close the account.
Can I keep my existing bank account open and open a credit union account?
It’s common and simple to maintain accounts at both a bank and a credit union. This allows you to transfer money between the two institutions as needed, usually through fast, secure, and convenient methods like ACH (Automated Clearing House) or wire transfers.
What are the best ways to transfer money online between financial institutions?
Coast Central provides three primary methods for moving funds between your Coast Central account and external institutions:
- Online & Mobile Banking (external transfers): Set up a link within the Coast Central digital banking platform to transfer funds to or from accounts at other banks/credit unions.
- Initiate from another bank: Use your other bank’s platform to send money to your Coast Central account by providing them with the routing and account numbers.
- Wire transfers: Use for high-value or urgent transfers. They can often be processed the same business day if requested before the cut‑off time
How do I link and transfer funds using Online & Mobile Banking?
Set up transfers directly from the Coast Central platform:
- Access the menu: Log in to Coast Central’s Online Banking or the Mobile App and navigate to the menu.
- Start the transfer: Click on Transfers & Payments, and then select Make a Transfer.
- Select external account: Choose the option to transfer from your Coast Central accounts to those at other institutions.
- Follow prompts: If this is your first time, you will be prompted to add the external account’s details (routing and account numbers). Once linked, you can schedule transfers.
What information do I need to initiate a transfer from my bank to my credit union?
When using your other bank’s transfer platform to send money to Coast Central, you will need to provide them with the routing number and your account number.
When should I use a wire transfer?
Wire transfers are generally used for high-value or urgent same-day transfers, and may be requested for both domestic and international transfers. Requests can be made in person at a Member Services Branch (domestic and international) or electronically through Online Banking (domestic only).
What if I need help?
Whether you’re moving all your accounts from a traditional bank or maintaining both a bank and credit union account, Coast Central is here to guide you every step of the way. Our team is happy to answer any questions and offer personalized support during the transfer process.
Make the switch to Coast Central Credit Union, and experience banking the way it should be—easy, convenient, and designed with you in mind.
Coast Central—where YOU are central.