Frequently Asked Questions (FAQ)

Questions

Answers to "How Do I…?"

How do I change my address on my account?
In order to change the address on your account, please contact a Customer Service Representative at 800-352-8257 or fax in your signed request to fax number 972.354.2854, Attn: Customer Service, or contact your local branch.

How can I add or remove a joint signer from my account?
To ADD a joint owner on an account, you will need to complete an Account Agreement Card with the updated information; have all account owners who will be on the account sign the application and include copies of their driver's license and social security cards.

To REMOVE a joint owner, you must complete an Account Card indicating the removal of a joint owner. In addition, the joint owner must sign, and have notarized, a Relinquish form. For assistance please visit your branch or call 1-800-35BUCKS (800.352.8257).

You may mail the forms to SharePlus Federal Bank, 5224 W. Plano Pkwy, Plano, TX 75093, or fax the information into our Customer Service Center at fax number 972-354-2854.

How do I set up Direct Deposit?
The easiest way to start Direct Deposit is to consult with your local branch or the Customer Service Center at 1-800-35BUCKS (800.352.8257). A SharePlus associate will be happy to work with you. Or, contact your employer payroll department with our Routing Number (311079571) and your account number. Back To Top

What should I do if I suspect fraud on my account?
If you suspect fraud on your account or fraud involving your ATM /debit card, please immediately contact your local SharePlus Federal Bank branch or the Customer Service Center at 1-800-35BUCKS (1-800-352-8257). If the suspected fraud involves a SharePlus credit card call 1-800-362-6299 and follow the prompts for a lost or stolen card. If your ATM or ATM / Debit Card is lost or stolen call 1-800-472-3272. Back To Top

How do I learn my account balance without visiting a branch or calling the Customer Service Center?
Log on to www.shareplus.com and enroll in Online Banking. It is quick and easy. We even have an Online Tutorial to help you get started. Click here for more information about Online Banking and Online BillPay. Online Banking allows you to learn your account balance, make a loan payment, find a loan balance or payment amount and more. Or you may call the Automated Account Information by phone line 800.35BUCKS (1.800-352.8257). Enter your account number and PIN, then follow the prompts. Back To Top

How do I handle wire transfers?

Wire Transfer - SharePlus can accept and send wire transfers, both domestic and international. For outgoing domestic wire transfers the fee is $25 and for outgoing international wires the fee is $35. The instructions to wire funds to the Bank are:

FI Name: SharePlus Federal Bank
FI ABA: 311079571
Credit to: Name and address of the beneficiary (bank's customer); Account number of the beneficiary.

There are no charges for incoming wires.

Bank to Bank Wire Transfer Instructions for International Incoming Wires

Bank of New York, Swift Code: IRVTUS3N, ABA/Routing # 021000018
First Credit to: The Independent Bankers Bank (TIB), ABA/Routing # 111010170
Further Credit to: SharePlus Federal Bank, Acct # 101-913-2
Final Credit to customer's name and account number ** Must be 11 digits long, place “0’s” in front of your member number until the total digits equal 11

Answers About Checking

Does SharePlus Federal Bank offer FREE Checking?
Yes. SharePlus is proud to offer FREE! Checking with no monthly service fee and FREE Online Bill Pay! ATM transactions are always FREE at SharePlus and most 7-11 store ATMs. 10 FREE per month at Foreign ATMs, then $2 each. Owner of ATM may charge a separate fee. Click here to learn more.

Will I earn interest on my checking account?
PowerPlus! Checking combines the convenience of a checking account with the interest earning value of a Money Market account and it's FREE if you keep a combined daily balance of $2,500 in savings, certificates and checking. If you keep a minimum of $1,500 in your PowerPlus! Checking account avoid the $10 per month service charge. Click here for current Deposit Rates.

What is your check hold policy?
SharePlus Federal Bank may place certain holds on checks: Click here for a detailed explanation of the SharePlus Funds Availability Policy

Can a check clear my account while funds are on hold?
If you have a hold on funds in your account, these funds are not available for any kind of withdrawal, including debit card purchases and check clearing. If adequate funds are not in your account to cover a check that is presented, any available overdraft protection will be used. If adequate overdraft funds are not available, the check will be returned and a fee assessed to your account. Click here to see the current Fee Schedule.

How do I stop payment on a check?
To stop payment on a check, call or go to your local branch or call the Customer Service Center at 1-800-35BUCKS. The fee to stop payment on a check is $25, unless you are a member of the SharePlus 50 Something program. Back To Top

How do I find the nearest ATM that I can use at no charge?
You can use your SharePlus ATM or ATM / Debit card at any SharePlus Federal Bank ATM with no fee. You may also use any ATM displaying the CO-OP Network logo including over 5,500 7-11 stores. To find the nearest surcharge-FREE ATM, click here.

I have lost my checks or suspect they have been stolen. What should I do?
Please contact the Customer Service Center at 1-800-35BUCKS or your local branch immediately to protect your account. Back To Top

Can I reorder checks without talking to a SharePlus Federal Bank representative?
To reorder checks online, Click here. You will be connected to the Deluxe Checks webpage, our check supply partner. Or you may call 1-800-35BUCKS (800.352.8257). Back To Top

What happens if I bounce a check?
If a check is returned due to non-sufficient funds, a $30 fee is assessed per item. SharePlus may choose to pay an item despite insufficient funds based on your account history and relationship with the bank. The $30 fee would still apply. Excessive overdraft activity may result in additional fees. Click here to see the current Fee Schedule.

What happens if adequate funds are not available in my account to cover an EFT (electronic funds transfer) or ACH (automated clearinghouse) transaction?
When you do not have sufficient funds in your account to cover an EFT withdrawal, a $30 fee will be assessed per item. Click here for the current Fee Schedule.

Answers About Online Banking

Does SharePlus Federal Bank offer an Online BillPay service?
Yes! Online BillPay is one of our most requested services and both Online Banking as well as BillPay are FREE. Online BillPay allows you and all SharePlus customers to securely pay bills with the click of a mouse.

Click here for more information about Online Banking and Online BillPay.

How much does it cost to use Online Banking?
Online Banking is offered FREE to all SharePlus customers. Contact the Customer Service Center at (800) 352-8257 to sign up for the service or enroll online. Click here to sign up for Online Banking.

What are my User ID's and Password's for using bank-by-phone and Online Banking?

Your User ID and Password/PIN numbers are unique and are picked by you when you set up your account or when you go online to enroll for online banking. If you have forgotten your login information please contact our Service Center at (800) 352-8257.

Recommendations for picking a strong Password:

Don't use easily guessed passwords like a date of birth, spouse, child's or pet's name.
Use a combination of upper and lower case letters, symbols, and numbers to make the password harder to guess.
Make your password at least eight characters long. Longer is even better. The more characters there are, the harder it will be to guess.
Avoid using "dictionary" words. There are password-cracking programs that will check every word in the dictionary.
Don't use "password" or "none" as your password! Don't even use "PaSsWoRd"!

Recommendations to keep your password safe:

Do not write your passwords down anywhere. You never know who is checking your drawers or file cabinet when you're not around.
Change your passwords frequently. Pick a period, like the 15th of each month, and change all of your passwords on that date.
Never share your password with anyone else. If you have to, then change it immediately afterwards.
If someone calls or sends you an e-mail claiming that they are from SharePlus Bank (or any bank), a credit card company, or anywhere else that you have a password with, NEVER give them your password or PIN no matter what story they tell you. SharePlus associates will never ask you for this information.

How can I get FREE Online BillPay?
It's FREE if you open a Checking account at SharePlus! Once you enroll in online banking, you can sign up for online bill pay by clicking on the "Payments" tab at the top of your online banking screen. If you need any assistance with setting this up, please call our Service Center at (800) 352-8257.

Click here to sign-up for online banking.

Is my personal information secure when I use this website?
Yes! SharePlus Federal Bank is committed to safeguarding your personal information online to keep it secure and confidential.

When you sign in to Customer Service Representative Online Banking from the SharePlus.com home page, or from the Online Banking page, your User ID and Security Code are sent from your computer to our Online Banking computers using Secure Socket Layer (SSL) technology. SSL is a protocol that transmits your personal information over the Internet in an encrypted form. SSL ensures that the information is sent, unchanged, only to the server you intended to send it to. This technology ensures that your personal information is encrypted before it leaves your computer so no one can Customer Service Representative the data.

In addition, all online forms that require personal information (such as an account number or Social Security number) are protected with SSL technology, and thus are completely secure.

To learn more about our Online Security, click here.

Answers About Loans

Do I need to be an account holder to apply for a loan?
No. You may apply for a loan with SharePlus Federal Bank regardless of where you live or work. Restrictions on Deposit accounts do not apply to loans. Back To Top

Click here for additional loan information.

Click here for current Loan Rates.

Click here to apply for a loan online, or call the Customer Service Center at 1-800-35BUCKS (1-800-352-8257).

Does SharePlus offer Home Loans (mortgages)?
Absolutely! SharePlus offers a wide variety of mortgage and loan products at very competitive rates and terms.

Click here to lean more about Home Loans.

I'm thinking about buying a car. How do I learn what interest rate I might qualify for and what my payments might be?
You will find interest rates in the Loan Rates section, or Click here for current Loan Rates. Or, call the Customer Service Center at 1-800-35BUCKS (1-800-352-8257) for personal service and to learn about current loan promotions. Loan and Savings Rates are also available using Automated Account Information By Phone (800.352.8257) bank-by-phone.

Ask how you can get a discount off your loan up to -.25% APR. Choose 1 of the following options:

-0.25% Direct Deposit into a SharePlus Account
-0.25% Auto Pay from a SharePlus Account
-0.25% Purchase a qualifying Hybrid vehicle

Click here to use a handy loan calculator to determine your approximate payments.

How do I learn my loan balance and payment information?
Log on to www.shareplus.com and enroll in Online Banking. It is quick and easy. We even have an Online Tutorial to help you get started. Click here for more information about Online Banking and Online BillPay. Online Banking allows you to learn your account balance, make a loan payment, find a loan balance or payment amount and more. Or you may call the Automated Account Information by phone line 800.35BUCKS (1.800-352.8257). Enter your account number and PIN, then follow the prompts. Back To Top

Why should I have Credit Life or Credit Disability insurance on my loans?
Credit insurance can help ease the financial stress that comes with unexpected hardships, credit life insurance can pay off a loan in case of the loan holder's death. Credit disability insurance can make your monthly payments for as long as you are unable to work due to a covered disability. The coverage for the insurance costs just pennies a day and premiums are included in your loan payment. Back To Top

How does a Home Equity Line of Credit work?
A Home Equity Line of Credit (HELOC) works more like a credit card than a regular loan. You are allowed to borrow up to a certain amount for the life of the loan, based on the equity you currently have in your home. A HELOC has a variable interest rate based on the Prime Rate. There are numerous options regarding the draw period and repayment periods. During the draw period you can withdraw money as you need it. As you pay off the principal, your credit revolves and you can use it again. Let's say you have a $50,000 line of credit. You borrow $10,000, but then pay back $5,000 toward the principal. You now have $45,000 in available credit. Back To Top

What's the biggest difference between a HELOC and a regular Home Equity Loan?
A HELOC provides revolving credit and uses with repayment based on a variable interest rate. You can use the funds when you need it and your payment may change as interest rates change. A Home Equity Loan provides a single lump-sum of money, borrowed at fixed rate so you will always have the same monthly payment. Back To Top

How are HELOC rates determined?
A Home Equity Line of Credit has a variable interest rate that may fluctuate over the life of the loan. SharePlus uses the Wall Street Journal Prime Rate to calculate HELOC rates. A margin is added to that Prime Rate based on your credit rating - the better your credit ratings the lower the margin. Thus, a good credit score results in a lower rate.

Click here to see current Home Equity Line of Credit rates.

What fees and additional factors should I consider when applying for a HELOC?
Because the credit limit of a HELOC is based on both the equity and value of your home, a home inspection may be required. Required application fees can be rolled into the credit so you have no up-front costs. In addition, property and flood insurance may also be required to safeguard the value of the home. Back To Top

How are HELOC payments determined?
Payments are calculated based on the current variable interest rate, how much credit you have used, and length of the repayment period.

SharePlus Federal Bank offers numerous draw and repayment options to assist you in tailoring a HELOC to fit your financial situation and goals. You have a draw period of 10 years and a repayment period up to 20 years. You will also choose whether to pay only the interest on the balance during the draw period, or to pay both principal and interest during the draw period. Back To Top

Is HELOC interest tax deductible?
Yes. A valuable benefit of having a HELOC is that the interest paid on the line of credit may be tax deductible. Thus, you might be able to receive a tax benefit for using a HELOC as opposed to using a regular loan with interest that is not tax deductible. Please consult with a tax professional to confirm if a HELOC is tax deductible for you. Back To Top

How can I use the funds from a HELOC?
You can use a HELOC to fund almost anything! Pay off debt and expensive credit cards; purchase a car, boat or RV; pay tuition or other education costs; take a dream vacation; remodel your home; or indulge yourself with a personal reward. Back To Top

How much money can I borrow with a HELOC?
The value of your home and how much equity you have determines your credit limit. Please contact a SharePlus Federal Bank loan associate to determine your specific amount. Regardless of the credit limit you must take an initial draw of $4,000, and each subsequent draw must be at least $4,000. Back To Top

Answers About Rates & Fees

What are the current loan rates?
Current loan rates are listed in the Loan Rates section. You can also use Automated Account Information By Phone (800.352.8257) or call the Customer Service Center at 1-800-35BUCKS (1-800-352-8257). Special promotion rates may also be available. Click here for our current loan rates.

What are the current savings rates?
Current interest rates are listed on the website in the Savings Rates section. You can also use Automated Account Information By Phone (800.352.8257) or call Customer Service Center at 1-800-35BUCKS (1-800-352-8257). Special promotional rates may also be available. Click here for our current deposit rates. Back To Top

What fees are charged by the SharePlus Federal Bank?
Click here to see the current Fee Schedule.

Answers About Other Financial Services

Does SharePlus offer Safe Deposit boxes?
Yes. Safe Deposit Boxes are available at:

The Main Office at 5224 West Plano, Parkway, Plano, TX (972931.5311).
The Dallas Office at 2501 Oak Lawn Avenue, Suite 100, Dallas TX (214-637-6994). Back To Top

Does SharePlus offer Cashier's Checks Travelers Checks?
Customers may get Cashier's Checks and Traveler's checks inside a SharePlus branch office. Fees may apply

Does SharePlus offer Wealth Management services?
Yes. SharePlus offers these services through "SharePlus Financial Services." Click here to go to the page that describes SharePlus Financial services.

Does SharePlus offer Club Accounts?
SharePlus offers two convenient Club Accounts: Vacation Club and Christmas Club. You can save money effortlessly by setting up auto debit from your checking account to each of your Club accounts. Vacation Club account withdrawals are only allowed one time per year during the predetermined schedule date of May 1. For Christmas Club Accounts, the withdrawal date is November 1 of each year.

To Open a Club Account:

Just stop by your branch or
Call Customer Service at 1.800.35BUCKS (1.800.352.8257) or 972-931-5311 or
Open an account online. Click here to go to our easy online account application form.

What kind of IRAs does SharePlus offer?
SharePlus offers these IRA accounts:
Traditional IRA, Roth IRA, and the Coverdell Education Savings Account (CESA) IRA. Brochures and details are available at your local branch or by calling Customer Service at 1.800.35BUCKS (1.800.352.8257) or 972-931-5311. SharePlus offers IRA Savings and IRA Certificate of Deposit investment options.

To open an IRA:

Just stop by your branch or
Call Customer Service at 1.800.35BUCKS (1.800.352.8257) or 972-931-5311 or
Open an account online. Click here to go to our easy online account application form.

Answers to Funds Availability

What determines when my funds will be made available?
Banks are governed by federal regulations surrounding the availability of funds, and SharePlus Federal Bank makes every effort possible to make funds available as quickly as possible to our customers. SharePlus Federal Bank looks at different criteria, such as the type of check, deposit amount and customer relationship. Back To Top

Are all checks considered local now?
Due to the increasing use of electronic fund transfers and the declining use of paper checks, the Federal Reserve Board has consolidated all check processing operations into the Federal Reserve Bank of Cleveland. All checks with any routing number for a bank or office within the United States are considered local checks for purposes of making the funds available. Back To Top

What types of deposits will be made available on the same day?
The following types of deposited funds receive same day availability, including interstate deposits:
• All electronic payments, such as direct deposits and wire transfers
• Checks drawn on SharePlus Federal Bank, if funds are available in the account
• Cash deposits Back To Top

What types of deposits will be made available on the next day?
The following types of deposited funds must be made available on the first business day following the banking day of deposit :

Funds from government checks (local and state) are available the next day as long as the check is made payable to the account holder. If the check is not made payable to the account holder, then a two-day waiting period will apply.

If the deposit is made in person to a SharePlus Federal Bank representative, funds from the following items are also available on the first business day after the day of deposit:
• Cashier's checks, certified checks, and teller checks on other banks that are made payable to the account holder
• Federal Reserve Bank checks, Federal Home Loan Bank checks, and U.S. postal money orders, if these items are payable to the depositor
• U.S. Treasury checks made payable to the account holder Back To Top

What other reasons could potentially delay my funds availability?
Availability may be delayed for longer periods under the following circumstances:
• SharePlus Federal Bank believes a check will not be paid*
• Deposited checks total more than $5,000 on one day (including next day items)*
• Returned unpaid checks are redeposited*
• An account has been overdrawn repeatedly in the last six months*
• Emergencies, such as failure of communications or computer equipment*
* $100 next day availability does not apply Back To Top

Will I be notified if the bank holds my funds?
SharePlus Federal Bank will notify affected customers if the bank delays their ability to withdraw funds. SharePlus Federal Bank will tell affected customers when the funds will be available, which generally will be no later than the seventh business day after the day of deposit. Affected customers will receive a notice of hold form. Back To Top

Will a hold be placed on new accounts?
If you are a new customer, special rules apply during the first 30 days your account is open.
Back To Top

Answers to General Questions

Who can bank with SharePlus Federal Bank?
Anyone may apply for and book a LOAN or Line of Credit regardless of where you live or work.

You may have a DEPOSIT relationship with the bank (such as a checking, savings, CD or IRA, or Money Market Plus account) if you live, work, or have your place of business in a county or bordering county where a SharePlus Federal Bank branch is located.

In Texas this includes - Collin, Dallas, Denton, Ellis, Fannin, Grayson, Hunt, Kaufman, Rockwall or Tarrant counties.

It also includes most of the metropolitan areas surrounding

Louisville, Kentucky
Irvine, California

You may also have a DEPOSIT relationship with SharePlus Federal Bank...

if you are an employee of a Sponsor Company (see below)
if you have a Secured Loan with SharePlus Federal Bank
if you own or work for a YUM! Brands franchise

SharePlus is the proud banking partner for the employees of the following Sponsor Companies: Frito-Lay, Inc., YUM! Brands, Inc., A&W Restaurants, Inc., KFC Corporation, Long John Silvers, Inc., Pizza Hut, Inc., Taco Bell Corp., and various PepsiCo Divisions, as well as dozens of other companies. Any employee or contractor of a sponsor company is encouraged to bank with SharePlus.

Click here to open an account with SharePlus Federal Bank or contact your nearest bank branch:

North Texas, including Plano/Dallas/Fort Worth - (972) 931-5311
Louisville area - (502) 874-2408
Irvine and southern California area - (949) 863-4432

What forms of identification do I need to open an account?
All financial institutions are required to verify the identity of anyone opening an account. SharePlus accepts the following forms of identification: State issued driver's license, State ID card, or passport and social security card. A pay stub may also be required as proof of employment with a SharePlus partner company.

SharePlus Federal Bank is proud to support the USA PATRIOT Act. The purpose of this act is to help protect you, your family and our country by preventing financing of terrorist activities. When you open or add an account we will ask for your name, address, date of birth, and other information that will allow SharePlus to identify you. We appreciate your assistance and understanding. Back To Top

I joined through my current employment. If I leave this job for any reason will I have to close my accounts at SharePlus Federal Bank?
No, you do not have to close your accounts because of other job opportunities. In addition to using an ATM, you can keep your accounts open and use Online Banking, Automated account information phone system service (800.352.8257) , or the Customer Service Center to keep up with your accounts at SharePlus. If you have a loan set up on payroll deduction, please notify us of your new phone number and address for us to send your payment booklet to you, or to make additional payment arrangements. Back To Top

What does it mean to be a member of SharePlus Federal Bank?
As a mutual savings bank, SharePlus Federal Bank is not owned by stock holders, but instead by our customers. SharePlus is a safe, competitive bank for all your banking needs. Back To Top

Are my funds insured?
All bank deposits are currently insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor. Learn how a family of four can structure its accounts to achieve insurance levels up to $3 million. VIEW VIDEO for more information.

You can calculate your insurance coverage using the FDIC's Electronic Deposit Insurance Estimator at www.myfdicinsurance.gov. For questions about FDIC coverage, call toll-free 1-877-ASK-FDIC or contact Customer Service at (972-931-5311 or 1 800-35BUCKS or 1-800-352-8257.

SharePlus Federal Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31, 2010, all non-interest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. This coverage does not apply to interest bearing checking accounts. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

Beginning December 31, 2010 through December 31, 2012, deposits held in noninterest-bearing transaction accounts will be fully insured, regardless of the amount in the account, at all FDIC-insured institutions. Back To Top

What is a POS purchase transaction?
A POS or Point of Sale transaction is a purchase made with your debit card where you are required to enter your PIN on a keypad. These transactions post to your account immediately. On your statement, a POS purchase will show the amount, the name and city of the merchant, and perhaps the merchant address. Back To Top

What's the difference between a POS and a debit transaction?
A POS transaction requires that you key the PIN on a keypad at the cash register. It also posts immediately to the account. A debit card charge either generates a receipt for you to sign, or is a transaction done over the phone or online. Debit card transactions do not post immediately to the account, but the funds from the transaction are on hold (unavailable) until the charge posts. Back To Top

What is EFT on my statement?
EFT stands for Electronic Funds Transfer. When you see EFT on your statement, it means that a merchant has removed these funds from your account. This is generally a payment that you have set up with a company using the SharePlus Online BillPay feature or that you have requested a company to automatically debit from your account each month. Back To Top

Do you have a Privacy Policy?
Yes. Click here to read our Privacy Policy online.

What is my User ID or Password for using Automated Account information by phone (800.352.8257) and Online Banking?

First time users:

Automated Account information by phone -
Your ID will be your SharePlus account number
Your Password will be the last 4 digits of your Social Security number
Online Banking -
Your ID (by default) is your account number
Your password is the same as your "Automated Account information by phone password (see above)

Please review the other areas of this website to learn more about SharePlus Federal Bank and its operations, products and services. If you can't find the answer to your question, or have additional questions, please contact the Customer Service Center at 1-800-35BUCKS or click on the Live Assist button for live help while you are in the SharePlus.com website. Back To Top

Frequently Asked Questions (FAQ)

Questions

HOW DO I…?

CHECKING

ONLINE BANKING

LOANS

RATES AND FEES

OTHER FINANCIAL SERVICES

FUNDS AVAILABILITY

GENERAL QUESTIONS