FAQs

The way to become a member of BCU is to apply online or stop by a branch.

BCU’s routing number is 211383956.

BCU is located at 75 Market St, Lynn MA 01901 and 254 Humphrey St, Marblehead MA 01945.

Call 1-800-264-5578.

Call 1-800-654-7728.

You can make deposits into your BCU account several ways:

• Visit a branch to make a deposit
• Deposit checks or cash at a BCU ATM
• Set up Direct Deposit
• Deposit a check from anywhere with our Touchbanking App using Mobile Deposit Capture

You will need to enroll in Online Banking using your BCU Account Number, your Social Security Number and your email address.

You will be required to create a password with a minimum of 8 characters, with at least one letter, and at least one number.

Yes, you will be able to transfer money between accounts. You can transfer money between your BCU accounts by clicking the Transfer link from the top main navigation of Online Banking.

To view your eStatements, click on an account from the main Online Banking overview page, and on the Account Details page, click “Documents.” A window will pop up and this will bring you to the list of your statements.

On the main Online Banking overview page, click on the account number and it will show you the details.

On the main Online Banking overview page click “Profile” in the upper right. For Electronic statements click “Manage Statements”. A new page will pop up. Click on the “PDF document” and another page will pop up and there will be a code. You must enter the Confirmation Code in the box on the previous page and click “I agree.”

To access Bill Pay, log in to Online Banking and click Bill in the top navigation. This will bring you to the Payment Center.

Under Send Money click on add a company or person. Supply the information required and add. From there you can select the Company and send a one-time payment or a recurring payment.

With Bill Pay, money will be withdrawn from your account on the date you select on the calendar.

If you have billers that offer e-bill service you can add e-bill by going to: The Payment Center and clicking on the Get ebills icon for that biller.

History will be available for viewing in Recent Payment, View Activity.

To enroll in BCU’s Mobile Banking, log in to Online Banking, click “Profile” in the upper right and for Mobile Banking click “Manage Devices” and complete the steps to sign up.

BCU’s Touchbanking App is available to download from the Apple Store, Google Play, and Amazon Appstore. You will need to log in to the Online Banking system first before you can access the app. You will then be able to access the Mobile App using the app Code “Brotherhood” and User ID and password you established for Online Banking.

Yes – all you need is a phone with text messaging. You can send a text to view account balance or transaction history.

Yes. A personal password keeps your information safe.

When BCU receives a check image (s) to review; we will ensure that everything is in order and release the item for processing. Deposits received before 4 pm on a business day will be credited the same day, by the end of the processing day. Deposits after 4 pm will be credited the next business day, by the end of the processing day.

Mobile Deposit gives BCU members the ability to deposit a check into their account from a remote location without having to physically deliver the check to the credit union. This is accomplished by taking a picture with a smartphone then transmitting that image using Mobile Deposit. Mobile Deposit allows the credit union to capture information from a check and process it electronically.

Download the Touchbanking App to your smartphone and log in to your account with your current user name and password. Then select the Deposit Checks option from the main menu.

*Mobile deposit capture is available for both Apple iPhones and Android smartphones. Our Touchbanking App can be downloaded through the Apple App Store or Google Play Store.

Limit per deposit is $1,500.00; Limit per day is $1,500.00. Limits noted are maximums.

Yes, all checks should be signed and include the following on the back of the check:

• Payee signature
• For Mobile Deposit Only
• Account Number

1. Any item that is stamped with a “non-negotiable” watermark. 
2. Any item that contains evidence of alteration to the information on the check.
3. Any item issued by a financial institution in a foreign country.
4. Any item that is incomplete.
5. Any item that is “stale dated” or “postdated”.
6. Third party checks.

Mobile Deposit is a convenient, secure and free service offered by BCU. Using your smartphone you are able to take digital images of your check and deposit it into your BCU Account.

You are required to store the original checks in a secure area, for 7 days after the deposit. After 7 days, you agree to destroy the original check(s).

BCU offers a wide variety of mortgage options, and we are happy to help you choose what’s right for you. Call 781-598-5555 to speak with the Mortgage Department.

When you apply for a mortgage loan there are several items that you need to provide your lender. These items are necessary in helping lenders determine an approved amount for your mortgage loan.

You will need:

• Completed application
• Last 2 years of W2 forms
• Four most recent pay stubs
• Bank statements from the last 2 months including 401k or other retirement accounts
• If you rent, 12 months of cancelled checks, including landlord's name and address
• Social Security and/or Pension letter (if applicable)
• Other documents may be required if necessary

Refinance

• Most recent mortgage and home equity bills
• Most recent real estate tax bill with assessed value
• Homeowner’s insurance policy showing premium and flood insurance policy (if applicable)

Purchase

• Signed “Offer to Purchase” (OP) or Purchase and Sales Agreement (P&S) signed by all parties
• Name and telephone number of the real estate broker
• If purchasing a condominium, the condominium documents
• Proof of down payment
• Cancelled checks for the down payment for OP or P&S

Fixed rate mortgages have a set interest rate, so the payment stays the same for the life of the loan. Choose a fixed rate mortgage if you plan to own your home for a longer period of time and prefer the predictability of a fixed monthly payment.

With an Adjustable Rate Mortgage (ARM), your initial interest rate is set for 1, 3, 5 or 7 years. After that time your rate could increase or decrease. ARMs usually offer a lower beginning rate compared to a traditional fixed rate mortgage, which may provide you with lower monthly payments initially.

Usually, your monthly mortgage payment is made up of three parts: principal, interest, and taxes but it can also include Private Mortgage Insurance.

The principal is the amount in your monthly payment that reduces the original amount borrowed. Over the life of a standard mortgage loan, the entire original amount borrowed is generally scheduled to be fully paid off, or amortized. The interest rate is the fee charged to borrow the outstanding balance for the past month. In addition, a monthly amount may be collected and held in a separate escrow account to cover property taxes and mortgage insurance. Your lender uses the money in the escrow account to pay your tax and insurance bills, as they come due.

PMI (Private Mortgage Insurance) is special insurance that protects the lender in case of borrower default. It's typically required when the borrower makes less than a 20% down payment.

Applying for a mortgage with BCU is easy. Just complete our online application.

Both buyer and seller agree to transact the home with the help of their realtors, the closing agent and their attorneys. Buyers sign their promissory note, mortgage documents and the Truth-in-Lending Statement (TIL). Closing costs are collected at this time too. They will be itemized on the HUD-1 statement for easy review. Both parties sign paperwork that transfers ownership of the home from seller to buyer. Buyers get keys, codes and access to the home that is now theirs.

A credit union is a not for profit financial cooperative. It is member-owned and controlled through a board of directors. The board 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.

The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary's Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.

A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or professional group.

Yes. All savings accounts are insured up to $250,000 by the NCUA. Shares in excess of $250,000 are insured by MSIC.