General
Frequently Asked Questions

Founded in 1937, Citizens Equity First Credit Union was originally established by a group of Caterpillar employees who wanted to make loans affordable. Eventually, CEFCU evolved from serving just Caterpillar employees and added additional fields of membership.

Today, CEFCU serves over 350,000 members and has over $6.9 billion in total assets. Members include employees, retirees and family members of Caterpillar, Caterpillar dealers, more than 700 Select Employee Groups, individuals who live or work in select Illinois counties, and individuals that live, work, or worship in 3 counties surrounding San Jose, California. CEFCU provides a full range of financial products and services to meet the needs of members with diverse economic and social backgrounds.

CEFCU strongly believes in the philosophy of “people helping people,” and is a member-owned financial cooperative where borrowers help savers and savers help borrowers.

CEFCU is a member-owned financial cooperative that is chartered by the state of Illinois and maintains federal deposit (“share”) insurance under the National Credit Union Share Insurance Fund (“NCUSIF”). CEFCU's volunteer board of directors is elected by members.

Individuals become members by maintaining at least $5.00 in an account called a share, or Savings, account. CEFCU will open and fund a $5.00 share account for all Simmons Bank customers associated with the Columbia, O'Fallon, Edwardsville, and Godfrey, Illinois branches and you will become members of CEFCU.

CEFCU and your previous financial institution are working together to minimize disruptions to account access. Any changes, as well as action required by accountholders, will be provided through additional communications.

Yes. CEFCU On-Line® and Mobile Banking and Bill Pay are products available to members. You can find out more about CEFCU’s products and services at www.cefcu.com.

You may download the CEFCU app for iPhone or Android beginning at 8 p.m. on Friday, March 12, 2021. All of the capabilities in the CEFCU online banking system are included in the app. For example, you can use your phone to deposit a check without visiting a branch. You will also be able to transfer funds to and from external accounts using your mobile device. If you have a mobile device that does not use the iOS or Android operating systems, you may still access your accounts on your device via a web browser at www.cefcu.com.

You will continue to have access to your current Simmons Bank online banking system until the Closing Date. As of the Closing Date, you will have access to CEFCU’s secure online and mobile banking platform, which offers many easy and convenient options to help you manage your finances and customize your preferences. Just a few of the functionalities are listed below.

• Review account history
• Change your contact information
• View and print check copies
• Transfer to and from outside accounts
• Create/edit account email/text alerts
• Stop payments
• Make loan payments
• View and print tax forms and statements
• Send us a secure message
• Special features for business accounts
• Change delivery preferences

To facilitate a seamless transition, we will send detailed information on how to set up your online banking access and online bill pay in a future communication, and our team, including the friendly faces you already know, will be available to assist you. The Simmons Bank online banking system will no longer be available after the Closing Date. You will not be able to log in, check balances, transfer funds, view checks or transactions, or access Simmons Bank’s online banking system in any way after the Closing Date.

Yes. If you have a device that supports Apple Pay, Google Pay, or Samsung Pay, you may use it to make payments after the Closing Date. CEFCU also participates in Fitbit Pay and Garmin Pay.

Yes. CEFCU serves businesses of all sizes. As a Business Member, you can enjoy competitive loan pricing, low fees, flexible deposit and cash management tools, credit cards with reward options, and more.

Simmons Bank and CEFCU are working together to minimize disruptions to account access. Any changes, as well as action required by accountholders, will be provided through additional communications.

Currently Simmons Bank provides automated telephone banking and this service will remain available until the Closing Date. As of the Closing Date, CEFCU will offer many options to help you manage your finances. You can contact CEFCU at any time with questions at 1.800.633.7077 or visit www.cefcu.com/hello.

Yes. As a member of CEFCU, you will receive one 10-digit account number, with subaccounts for each type of account you hold. We will provide detailed information about your account numbers in a future communication.

Yes. Your substitute CEFCU Debit Card will be mailed to you prior to the Closing Date with a notice of any changes. Please do not activate or attempt to use the new CEFCU Debit Card until the Closing Date.

Your Simmons Bank debit card will continue to work up to the Closing Date. Payments that are set up on your Simmons Bank debit card will not work after the Closing Date. After the Closing Date, you must change any recurring payments to your new CEFCU Debit Card number.

No. Your Simmons Bank credit card will continue to work and your credit card relationship will remain with Simmons Bank. A CEFCU team member will contact you with CEFCU credit card options you may want to consider.

Yes, after the Closing Date, you may select your own PIN at any CEFCU-owned Money Center 24 ATM or you can call CEFCU to make the change at 1.800.633.7077.

As of the Closing Date some changes to the structure, terms, and/or pricing applicable to your account(s) will become effective as your account(s) transfer to CEFCU’s systems. You’ll be receiving a separate mailing prior to the Closing Date explaining the changes to the structure, terms, and/or fees applicable to your account(s).

The routing and transit number is: 271183701.

Your direct deposit transactions will continue to clear your account for 90 days after the Closing Date. Although, to ensure timely deposit of your payroll, you should update the information with your employer as soon as possible after the Closing Date.

Your ACH transactions will continue to clear your account for 90 days after the Closing Date. Although, to ensure timely electronic payments from your account, you should update the information as soon as possible after the Closing Date.

You can also set up your CEFCU Debit Card for recurring payments.

Your checks will continue to clear your account for 90 days after the Closing Date. CEFCU will be sending you new checks for your account. After the Closing Date, place an order via CEFCU On-Line or stop by any CEFCU Member Center when you are ready for more checks.

If you have automatic payments set up on your loan, you will not receive coupons. If you do not have automatic payments and wish to have a coupon book, please contact CEFCU at 1.800.633.7077 and we will order one for you. However, please note that we will not be able to order a replacement payment book until after the Closing Date.

Yes. Soon you’ll receive your new CEFCU Debit Card in the mail and you will be able to use it at any CEFCU ATM without a surcharge (note: your Simmons Bank debit card will not work after the Closing Date). A list of CEFCU Member Center and ATM locations is available at www.cefcu.com/locations. A list of Member Center locations will be mailed to you in the near future.

After the Closing Date, you will receive statements monthly or quarterly, depending on your account type. At that time, you may also choose to save paper and receive statements electronically by changing your statement delivery preferences in online banking or at a CEFCU Member Center location.

All existing Simmons Bank CDs will continue to earn the annual percentage yield established when the CD was opened until maturity.

Yes, while your funds that are subject to the transaction will no longer be insured by the FDIC, your funds will be federally insured up to $250,000 by the NCUSIF. This is the same maximum coverage provided by the FDIC. If your combined balances will exceed $250,000 as a result of the transaction, please contact us to ensure your account ownership is established in such a way as to continue to maximize federal insurance coverage.

The beneficiaries listed on your Simmons Bank accounts will automatically transfer to your new CEFCU accounts. However, it is a good idea to review and update your beneficiary as well as other information such as your address, email, and phone number.

After the Closing Date, you will be able to conduct business at any CEFCU Member Center. A list of CEFCU’s Member Centers will be mailed to you very soon, or you can find them at www.cefcu.com/locations. After the Closing Date, all CEFCU services will become available. Signage at each of the former Simmons Bank locations will be changed to CEFCU no later than 10 business days after the Closing Date.

After the Closing Date, you can visit any CEFCU Member Center, including the four former Simmons Bank branches. You can also reach us by calling 1.800.633.7077, or send a secure message through CEFCU On-Line. Our team, including the friendly faces you already know, will provide caring and knowledgeable assistance with every type of transaction, as well as support for using online banking, telephone banking, mobile apps, and all of our products and services.

Learn more about CEFCU online at: www.cefcu.com or find us on Facebook, Instagram, or Twitter. Please like or follow us to learn more about CEFCU.

You will automatically become a CEFCU member as part of the transaction pending approval by the IDFPR of CEFCU’s field of membership expansion application.

However, other than as part of this transaction, individuals or organizations are eligible to join CEFCU if they meet any of these qualifications:

• Live or work in Fulton, Knox, Livingston, Logan, McLean, Macon, Marshall, Mason, Peoria, Putnam, Sangamon, Stark, Tazewell, or Woodford counties in Illinois.
• Live, work, or worship in Alameda, Contra Costa, or Santa Clara counties in California.
• Are an employee or retiree of Caterpillar Inc., Caterpillar subsidiaries, or Caterpillar dealerships.
• Are an employee or retiree of CEFCU's partner companies.
• Are an immediate family member of someone who is eligible to join the Credit Union.*
• Are a member of a household that includes someone who is eligible to join the Credit Union.**
• Are the spouse of a member who has passed away.†
• Are a CEFCU employee or retiree.

*Immediate family members include relatives by blood or marriage or foster and adopted children of credit union members.

**A household is defined as people living in the same residence maintaining a single economic unit.

†If the surviving spouse establishes membership within six months of the member’s death.

The IRS requires that CEFCU obtains a TIN (Taxpayer Identification Number) directly from members using the IRS Form W-9. The Form W-9 is the member’s certification that TIN provided on the form is the member’s correct TIN and that the member is not subject to backup withholding. If CEFCU does not obtain a Form W-9 from a member, CEFCU potentially is required to backup withhold tax from dividends paid to the member pursuant to Internal Revenue Code § 3406.

CEFCU is adding the following eleven counties to our qualifying membership counties – Christian, Montgomery, Macoupin, Jersey, Madison, Bond, Clinton, Saint Clair, Monroe, Randolph, and Washington.

The $5 Share Account is your Savings account. Members must maintain a $5 balance in their Savings account in order to remain a member.

Simmons Bank customers do not become CEFCU members until the transaction between Simmons Bank and CEFCU is finalized at the close of business on March 12. While account information has been put on CEFCU’s system to make the transition as easy as possible, funds in the account are not eligible for withdrawal until the account is officially opened. The $5 initial Savings deposit was placed into accounts to allow for them to be opened per the FDIC letter which was mailed to you in February.

The $1 membership fee was a one-time fee, but this fee has since been eliminated for all new accounts by CEFCU – it was not charged to any Simmons customers that have become CEFCU members.

CEFCU will be placing four ATMs in the Metro East area - one ATM at each Member Center, which are free for members to use. In addition, members will have access to the CO-OP ATM network at no charge. Please visit https://www.cefcu.com/locations/ to find an ATM in the CO-OP ATM network. Once on that site, check the “Free CO-OP ATMs box” for a list of the locations.

Yes! You are grandfathered in and are still eligible for CEFCU membership. We have members that live all over the country that continue to do their banking with CEFCU.

The IRS requires that CEFCU obtains a Taxpayer Identification Number (TIN) directly from members using the IRS Form W-9. The Form W-9 is your certification that the TIN provided on the form is correct and that you are not subject to backup withholding. If CEFCU does not obtain your completed Form W-9, we may be required to backup withhold tax from dividends paid to you.

Your first statement from CEFCU may not come via eStatement because the frequency in which you receive your statement depends on the type of products you have and your statement cycles.

Your newly issues CEFCU checks will begin with check number 1001.

Please contact Simmons Bank for assistance obtaining account records on accounts that were closed prior to March 12.

Yes, the telephone numbers are changing, with the exception of the Columbia location.

Yes, you are encouraged to talk with a CEFCU representative to determine which accounts work best for you and we can help you make those changes.

You can call our Member Contact Center at 1.800.633.7077. Visit our Contact Us page for other department phone numbers and hours of operation.