Loan and Credit Questions & Answers

Consumer Loans and Lines of Credit

Q.

Will my vehicle and personal loans stay the same?

A.

Starting October 1, 2013 Alameda Credit Union vehicle and personal loans will transfer to Provident at the same rates, terms, payment, and payment due date. A new account number will be assigned. More information about your loan will be delivered in September, 2013.

Vehicle Loan Insurance Information: You are required to maintain insurance coverage on all loans secured by a vehicle such as a car, boat, motorcycle or RV. Evidence of insurance for all vehicle loans is required. To facilitate advising your insurance company of the lien holder change to Provident Credit Union, a notice was mailed to you for your insurance agent. Please give these instructions to your insurance agent or mail a copy of your insurance policy to: Provident Credit Union, Attn: Insurance Center, PO Box 5302, Redwood City, CA 94063-0302.

If evidence of insurance is not received by December 31, 2013 Provident Credit Union may procure a policy which protects our interest in the vehicle. The premium cost for such a policy will be added to your loan balance.

Q.

What will happen to my Payday Loan?

A.

Your Payday Loan will convert to a Provident Fixed Rate Personal Loan. More information about your Payday Loan will be delivered in September, 2013.

Q.

Will my line of credit account stay the same?

A.

Starting October 1, 2013 the Alameda Credit Union Personal Line of Credit account will be converted to a Provident Credit Union VIP Line of Credit account with the same rate, payment, and payment due date. A new account number will be assigned. More information about your line of credit will be delivered in September, 2013.

Notice of Change in Terms: There will be a $25 annual fee – this fee is processed on the anniversary date of your VIP Line of Credit which is the date you opened your line of credit with Alameda Credit Union. Provident will waive the annual fee for the first year with Provident.

You will receive a monthly statement for your new VIP Line of Credit around the 15th of each month. If you are enrolled in e-Statements with Alameda Credit Union, this selection will carry over to your new Provident account(s). Each month you will receive an email when your statement is ready to view from within the Provident online banking system.

Q.

When and where should I make my personal loan, auto loan, or line of credit payments?

A.

Please continue to make your payments to Alameda Credit Union through September 30, 2013. Starting in October, Provident offers several options to make your loan payments.

  1. Send payments by mail to:
    Provident Credit Union
    Attn: Payment Processing
    PO Box 8007
    Redwood City, CA 94063-0903
  2. Automatic Transfer from another Provident account: If your payment was previously set up for an automatic transfer from an Alameda share or checking account, your payment will continue to be automatically transferred from your new Provident share or checking account beginning October 1, 2013 on your scheduled loan due date.
  3. Transfer from another financial institution: Enroll and sign on to Provident's online banking system and click the "Transfers/Withdrawal" tab to set up your external account. After the verification process, you may schedule your payment.

Credit Cards

Q.

What will happen to my Visa® credit card?

A.

Your credit card will convert to a Provident Rewards Visa credit card. Your balance will be transferred to your new Provident card on October 1, 2013. Your credit limit and rate will transfer over exactly as is from Alameda Credit Union. If you earned any credit card reward points from Alameda your points will also transfer to Provident's credit card rewards points program, CU Rewards.

Your new card will arrive in the mail during the week of September 23, 2013. You may activate your card as soon as you receive it, however it will not work until 12:00 a.m. on October 1, 2013. Beginning September 30, 2013 stop using your Alameda card. More information about your credit card will be delivered in September, 2013.

Remember to contact vendors that process automatic debits from your account (e.g., health clubs, Internet service providers, toll roads) and provide them with your new card information by October 1, 2013.

Q.

If I have credit or debit transactions pending on my old Alameda Credit Union Visa credit card account will they post to my new Provident credit card account?

A.

Yes. Any pending transactions that occurred using your Alameda Visa debit or credit card will post to your new Provident accounts. To view your Provident accounts and transactions please enroll in our online banking system.

Q.

When and where should I make my credit card payments?

A.

Please continue to make your payments to Alameda Credit Union through September 30, 2013. You will receive a closing statement from Alameda Credit Union in October. Please do not send your payment with the closing statement – it is for information purposes only. You will receive a Provident Visa statement on or about the 21st of every month with a payment due date of the 9th of each month. Your first statement from Provident will arrive in October and is due by November 9th.

  1. Send payments with your Provident billing statement to:
    Provident Credit Union
    Attn: Payment Processing
    PO Box 60510
    City of Industry, CA 91716-0510
  2. Transfer from another Provident account: Enroll and sign on to Provident's online banking system and click on your credit card from the Summary of Balances page or click the "Transfers/Withdrawal" tab to schedule your payment.

Home Equity Loans

Q.

What will happen to my Home Equity Loan?

A.

Your Home Equity Loan will transfer to a Provident Fixed Home Equity Loan. More information about your Home Equity Loan will be delivered in September, 2013.

Home Equity Loan Insurance Information: You are required to maintain insurance coverage on all loans secured by real estate and evidence of insurance is required by Provident Credit Union. To facilitate advising your insurance company of the lien holder change to Provident Credit Union enclosed is a notice for your insurance agent. Please give these instructions to your insurance agent or mail a copy of your insurance policy to: Provident Credit Union, Attn: Loan Servicing Department, PO Box 7283, Redwood City, CA 94063-0283

If evidence of insurance is not received by December 31, 2013 Provident Credit Union may procure a policy which protects our interest in the vehicle. The premium cost for such a policy will be added to your loan balance.

Q.

When and where should I make my mortgage and equity loan payments?

A.

Please continue to make your payments to Alameda Credit Union through September 30, 2013. Starting in October, Provident offers several options to make your loan payments.

  1. Send payments by mail to:
    Provident Credit Union
    Attn: Payment Processing
    PO Box 8007
    Redwood City, CA 94063-0903
  2. Automatic Transfer from another Provident account: If your payment was previously set up for an automatic transfer from an Alameda share or checking account, your payment will continue to be automatically transferred from your new Provident share or checking account beginning October 1, 2013 on your scheduled loan due date.
  3. Transfer from another financial institution: Enroll and sign on to Provident's online banking system and click the "Transfers/Withdrawal" tab to set up your external account. After the verification process, you may schedule your payment.
  4. Transfer from another Provident account: Enroll and sign on to Provident's online banking system and click the "Transfers/Withdrawal" tab to schedule your payment.

Home Equity Lines of Credit

Q.

What will happen to my Home Equity Line of Credit?

A.

Your Home Equity Line of Credit will transfer to a Provident Prime Plus Home Equity Line of Credit . There is an annual fee of $100 which will be assessed at this time next year. More information about your Home Equity Line of Credit will be delivered in September, 2013.

Home Equity Loan Insurance Information: You are required to maintain insurance coverage on all loans secured by real estate and evidence of insurance is required by Provident Credit Union. To facilitate advising your insurance company of the lien holder change to Provident Credit Union enclosed is a notice for your insurance agent. Please give these instructions to your insurance agent or mail a copy of your insurance policy to: Provident Credit Union, Attn: Loan Servicing Department, PO Box 7283, Redwood City, CA 94063-0283

If evidence of insurance is not received by December 31, 2013 Provident Credit Union may procure a policy which protects our interest in the vehicle. The premium cost for such a policy will be added to your loan balance.

Q.

When and where should I make my mortgage and equity loan payments?

A.

Please continue to make your payments to Alameda Credit Union through September 30, 2013. Starting in October, Provident offers several options to make your loan payments.

  1. Send payments by mail to:
    Provident Credit Union
    Attn: Payment Processing
    PO Box 60510
    City of Industry, CA 91716-0510
  2. Transfer from another financial institution: Enroll and sign on to Provident's online banking system and click the "Transfers/Withdrawal" tab to set up your external account. After the verification process, you may schedule your payment.
  3. Transfer from another Provident account: Enroll and sign on to Provident's online banking system and click the "Transfers/Withdrawal" tab to schedule your payment.

If you have any questions regarding your loan account, please continue to direct all inquiries to Alameda Credit Union until September 30, 2013 at (510) 523-1514. On or after October 1, 2013 our Call Center representatives and Loan Servicing staff will be available to help you with your loan questions at (800) 632-4600 ext. 2706 and credit card questions at ext. 2702.

 

(800) 632-4600

More phone numbers on Contacts page

321171731

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