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Programs & Resources

Membership Frequently Asked Questions

  1. How do I become a member?
  2. Can I do all of my banking with you?
  3. Why do I need to open a share savings account?
  4. When can I access my account via the internet?
  5. Does the share savings account earn dividends?
  6. Are there any fees to maintain a share account?
  7. Can I open an account at CommonWealth One if I live in the U.S., but I am not a U.S. citizen?

How do I become a member?

Membership with CommonWealth One is open to anyone who lives, works, worships or attends school in the city of Harrisonburg, VA, Warren County VA, Clarke County VA, and certain areas of Alexandria VA., or is an employee or a retiree of a Sponsor Group.

Immediate family members (from grandparents to grandchildren) and members of their economic households (roommates, for example) are also eligible to join. To join CommonWealth One Federal Credit Union you will need to complete a membership application and open a share savings account.

 

Can I do all of my banking with you?

Yes. CommonWealth One is a full-service financial institution. Services like direct deposit, transaction-free ATMs, home banking and shared service centers enable you to do all of your banking remotely. Of course, you are always welcome to visit any of our branch locations.


Why do I need to open a share savings account?

The share savings account establishes your membership with CommonWealth One. The $5 share purchase gives you access to all credit union services. It is not a fee and would be returned if you ever close your account.


When can I access my account via the internet?

Online Banking, our internet banking service, is available 24 hours a day, 7 days a week. You should have been set up to access Online Banking when you opened your account. If you are having trouble accessing your account, call us and we can set you up immediately


Does the share savings account earn dividends?

Yes, a share savings account earns dividends. You can view all our savings rates here.


Are there any fees to maintain a share account?

No, provided there is activity on your account. If the account has been inactive for more than one year, has a balance of $100 or less, and you have no other relationship with CommonWealth One, a quarterly fee will apply.


Can I open an account at CommonWealth One if I live in the U.S., but I am not a U.S. citizen?

At this time, we are only able to open an account for persons residing in the United States with a valid U.S. Social Security Number or Tax Identification Number.