Taking measures to ensure the health and wellbeing of our members, our employees, and your families.
We have plans in place to be here for you. Our leadership is meeting daily to review, update and enact portions of our plan as needed.
|Message to Members from Cathy Pace||Thank you, essential workers.|
As coverage of the coronavirus (COVID-19) continues, we are closely monitoring the guidance being provided by health officials, including the Centers for Disease Control and Prevention (CDC) and the North Carolina Department of Health (DOH).
Last updated Friday, May 22:
“With the modest adjustments made this week under the new Safer at Home order in the state of North Carolina, I wanted to remind you that Allegacy is here to serve you and your families during this time. While we are not quite yet ready to fully open our doors due to occupancy guidelines for social distancing, we are open for business and here to serve you. We will continue to serve you in our Financial Center lobbies by appointment only at this time. You can click here to make an appointment or call a location to set up a time that works best for you.”
Last updated Tuesday, April 28:
In an effort to address financial needs during peak times, we have extended Saturday hours of operation in May.
Westbrook Financial Center’s Drive-Thru will be open from 9:00 am — 12:00 pm on Saturday, May 2nd for your convenience.
Last updated Wednesday, April 22:
Due to the volume of applications already received, Allegacy will not be accepting additional applications for the Paycheck Protection Program (PPP) at this time. Our Business Services PPP Team is preparing and processing the existing applicants in our queue, for submission as soon as the application portal opens for round two of funding. The Federal Government is expected to vote on 4.23.2020 to add additional funds to the Program.
Existing applicants can contact us at PPPloans@Allegacy.org 72 hours after the portal reopens to inquire about the status of your application.
Not all applications will gain approval by the SBA. For additional resources, please reach out to us here at Allegacy for other business lending solutions to consider.
Last updated Thursday, April 16:
As of April 16, 2020, the Small Business Administration has announced that funding for the Paycheck Protection Program (PPP) has been depleted. We are hopeful the federal government will add additional funds to the program, and if so, we will prioritize our current applicants when the new wave of funding is available.
Last updated Wednesday, April 15:
To our business members: Due to high volume nationwide, the approval process with the SBA is taking much longer than initially expected. As of today (4/15), we do not yet have any approvals nor an ETA. As soon as we have information on individual applications, we will notify you.
Last updated Tuesday, April 14:
Are you wondering if your CARES ACT stimulus check has arrived? Check your account balance using digital services and phone banking, and even be alerted when it arrives. Read our latest blog post for for details.
Last updated Tuesday, April 7:
Allegacy is now accepting applications from existing Business members (as of March 27, 2020) for the Paycheck Protection Program through the SBA.
Last updated Wednesday, April 1:
If your monthly business income has been affected by the recent pandemic, please know that Allegacy is here to help you. We are working with and will implement the government’s solutions to find help and financial solutions for you and your employees.
- Coronavirus Aid, and Economic Security Act (CARES) has allocated $350 Billion to help small businesses keep workers employed during the pandemic.
- SBA Economic Injury Disaster Loans (EIDLs) are currently available to provide small businesses with working capital loans to help overcome the temporary loss of revenue. For more information and to apply directly with the SBA, click here.
- Also part of the CARES Act is the SBA Paycheck Protection Program, which must be applied for through a Financial Institution. This program is not yet available and awaiting guidance from the SBA.
- The U.S. Chamber of Commerce provided this document as a guide to help small businesses prepare to apply for this loan.
- Businesses with fewer than 500 employees and nonprofits are eligible, along with self-employed and independent contractors.
Again, Allegacy is here for you and we look forward to providing assistance to help you get through these challenging times our community is facing.
Last updated Wednesday, March 25:
- 2020 Annual Meeting: As a result of the COVID-19 Pandemic and government restrictions on public gatherings, the time and location of Annual Meeting has been changed. Please contact firstname.lastname@example.org for details.
Last updated Tuesday, March 24:
- This Saturday, March 28, Westbrook Financial Center Lobby and Driv-Thru will be closed. Visit one of our Interactive Teller Machines (ITMs) with Live Teller Assist available Saturdays from 9:00 am – 12:00 pm.
Last updated Thursday, March 19:
- We understand that in situations like a pandemic, finances can be challenging. Allegacy is here for you and prepared to help. If you’ve been financially impacted by COVID-19 and need additional financial assistance, contact us for options – by phone at 336.774.3400 or via secure message available in WebBanking or the mobile app.
Last updated Wednesday, March 18:
- Allegacy will REMAIN OPEN to take care of all your financial needs, but we need to alter the ways you normally interact with us.
- Starting Thursday, March 19th, all Allegacy locations will offer limited access to our Financial Center lobbies, available by appointment only with the exception of our Spartan Village (on UNCG’s campus) and New Jersey locations, which are closed for appointments.
- Our lobbies will be closed to walk-in traffic
- All teller-assisted transactions will be conducted through the drive-thrus, ATMs and Interactive Teller Machines (ITMs), with LIVE assistance
- For all other transactions members will need to call for an appointment. We have designated phone lines set up for each Financial Center location:
Allegacy Village 336.774.8360
Bermuda Run 336.794.8485
Hanes Mall 336.774.3424
Mt. Airy 336.794.7070
North Patterson 336.794.7056
Peace Haven 336.774.8373
Stafford Village 336.774.3706
Westbrook Branch 336.774.2855
- Our Contact Center remains open for assistance and can be reached at 336.774.3400 / 800.782.4670.
Last updated Friday, March 13:
- Allegacy team members have been asked to stay home if not feeling well.
- Some of our Member Service Representatives may wear gloves during their day to prevent the spread of germs while handling cash.
- Extra cleaning precautions are taking place in all high-touch areas, including ATM and Interactive Teller Machines.
- Member workshops have been postponed, but financial Tools + Tips can be accessed on our website.
- We have adopted a contactless greeting, instead of our usual standard of a handshake or hug.
- Business travel bans and restrictions are in place.
- Allegacy is remaining vigilant in our efforts to prevent and monitor fraud. We are also keeping a close watch for any reports of financial fraud related to COVID-19. Even though this is a public health issue, fraudsters are known to target potential victims during times of uncertainty.
We’re open + here to help.
Please know that our goal is to continue to provide the best tools and access you need to manage your finances wherever and whenever. Here’s how you can continue banking habits while avoiding crowds.
- Financial Center lobbies are open by appointment only, with the exception of Spartan Village and East Hanover Financial Centers. Those two locations are closed.
- Many transactions don’t require a lobby visit! Check the tables below if you’re unsure.
- Utilize Digital Services like the Allegacy Mobile Banking App and WebBanking™
- Visit 24/7 ATMs
- Interactive Teller Machines (ITMs) — with live teller assistance — and drive-thru banking are available at many of our locations.
- Please see Drive-Thru and ITM Teller Assistance hours and locations here.
- Our Contact Center is also available! Please call 336.774.3400 to speak to a representative or utilize the Live Chat on Allegacy.org
- If your transaction must be completed in a Financial Center, make an online appointment here.
Here are some “how-to” bits of content:
Where to make which transactions:
|By Appointment||Drive-Thru||Interactive Teller Machines||ATMs||Contact Center||Mobile App||WebBanking||Website||Phone Banking|
(Up to two checks.)
|Open a Deposit Account||✔||✔||✔||✔|
|Complete a Loan Application||✔||✔||✔||✔|
|Make a Cash Deposit||✔||✔|
|Make a Check Deposit||✔||✔||✔|
|Notary (members only)||✔|
|Make an Allegacy Payment||✔||✔||✔||✔||✔||✔|
|Home Equity Document Signing||✔|
|Mortgage Eliminator Document Signing||✔|
|Check Account Balance||✔||✔||✔||✔||✔||✔|
|View Transaction History||✔||✔||✔|
|Access Safe Deposit Box||✔|
|Credit Card Cash Advance*||✔|
|Change of Address||✔||✔|
|Set Up Auto Draft||✔||✔||✔|
|Line of Credit Advance||✔||✔||✔||✔|
Starred transactions (*) refer to transactions completed by individual and business members alike.
Allegacy is not currently providing Shared Branching services for other credit unions. Click here and choose Filter Locations to find a Shared Branching credit union in your area. Allegacy members may use our WebBanking to move funds to external accounts at other financial institutions. Log in and choose Move Money and Funds Transfer. You can add an external account in this process.
Starred transactions (*) above in the Retail chart refer to transactions completed by individual and business members alike.
|By Appointment||Drive-Thru||Contact Center||WebBanking||Night Deposit||ITM||ATM||Mobile App||Appointment By Phone|
|Deposit with Coin||✔|
|Make a Cash Deposit||✔|
|Make a Check Deposit||✔||✔|
|Loan Payment by Check||✔||✔||✔|
|Credit Card Application||✔|
|By Appointment||Online¹||Advisor Phone||WebEx||DocuSign||Mail or FedEx||Secure Email|
|New, Review, or Service Appointments||✔||✔||✔|
|New Account or Service Forms²||✔||✔||✔||✔|
|Request Tax Documents||✔||✔||✔||✔||✔|
1. You may access your investment accounts through your Allegacy Web Banking, or going directly to My Portfolio View. 2. Forms may be available online. Please contact your Financial Advisor for guidance. 3. Please contact your financial guidance for guidance on how to deliver checks.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Allegacy Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
Ways to Ask for Help
Yes, Allegacy is insured by NCUA (National Credit Union Administration). The NCUA insures up to $250,000 per depositor, per institution, per ownership category. Visit the NCUA website to learn more on how your funds are protected.
IRA Required Minimum Distribution changes for 2020 are in effect:
The recent release of the new CARES Act states that SIMPLE, TRADITIONAL and SEP IRA contribution plan owners and beneficiaries, have the option to stop Required Minimum Distributions (RMDs) in 2020. This allows account owners to skip both their 2019 RMD (if it was their first year and had not yet made an RMD by April 1, 2020), and their 2020 RMD
If you have already taken your 2020 distribution, you may still be able to roll over those funds. You must be within 60 days of receiving the distribution. You will simply need to have a contribution form completed and mark ‘rollover’ to make your deposit. And, as a convenience to our members, you can even sign this form electronically from the luxury of your own home! Simply call a Member Service Representative at 336.774.3400 to get started.
Allegacy IRA owners and beneficiaries may always withdraw money from their IRAs or Inherited IRAs as needed. The 2020 RMD waiver simply means that they are not required to take a minimum distribution in 2020, allowing you to avoid additional tax expenses in 2020 and letting your funds continue to earn interest.
If the pandemic has you concerned about investing or retirement, we’ve opened up a special helpline just for members so you can speak directly with one of our financial advisors, available through CUSO Financial Services, L.P.
Call 336.774.2754; Monday – Friday
Think of it as a consultation. No cost. No selling. Just some time to talk through your concerns, answer your questions and do a little planning.
Keep in mind that our CFS advisors on this helpline are available on a first come, first-served basis. However, members can also access Allegacy Investment Group by making a virtual appointment here.
In these unprecedented times, it’s more important than ever to know what financial options you have. Allegacy has implemented several financial relief options and will work directly with you to evaluate any concerns or financial hardships you may have. From there, we’ll create a customized relief plan to address your personal financial needs. We believe it is important to do the right thing for our members and give you the help you need to continue being your best. For more details on how we may be able to help you, contact a Member Service Representative at 336.774.3400.
The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
What You Can Do to Be Well
Be proactive in your efforts to prevent the spread of sickness. When you visit our Financial Centers, you may notice that we are no longer shaking hands and performing “contactless greetings.” This so we can do our part to minimize the spread of germs.
Doing our part, we are providing our members with hand sanitizing stations, we kindly ask that you use this station when you enter any of our locations before you interact with our employees. This will help us keep our teammates safe and healthy so they can serve you.
Thank you for helping us all stay safe so that we may continue to do the right thing for your wellbeing today and every day.
Get the latest reports and safety suggestions from the CDC website.