FAQs

Absolutely! You can continue to use your Nova UA FCU accounts no matter where you live.

With our convenient digital services, you can:

• Access your account through online banking and our mobile app
• Use remote check deposit to deposit checks from your phone
• Set up direct deposit at your job for quick and secure access to your paycheck
• Withdraw cash and check balances using our nationwide ATM network

Your membership moves with you!

Yes. Your deposits are insured up to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government agency.

There is no membership fee to join Nova UA FCU.
However:

• A $50 minimum deposit is required to open and keep your Share Savings Account.
• Business accounts have a $15 monthly maintenance fee.

You can become a member by opening a Share (Savings) Account with a minimum deposit of $50.This deposit represents your ownership share in the credit union and is required to maintain your membership.

We offer a range of accounts to meet your personal or business needs, including:

1. Share (Savings) Accounts – Start your membership and save securely.
2. Share Draft (Checking) Accounts – Manage your everyday spending with ease.
3. Teen Accounts (Ages 16+) – For teens learning to manage money. Must be a joint account with a parent or guardian.
4. Certificates of Deposit (CDs) – Earn higher dividends with fixed-term savings.
5. Individual Retirement Accounts (IRAs) – Save for your future with tax-advantaged options.
6. Business Accounts – Designed for small businesses and organizations.

You can qualify for membership through one of two options:

1. Organization or Community Affiliation
Choose one:

• I would like to join the Self Reliance Association of Ukrainian Americans
• I am already a member of the Self Reliance Association of Ukrainian Americans
• I live in, or am affiliated with, an organization or community group in Passaic County, New Jersey

2. Family Relationship

• I am related to an existing member of Nova UA FCU.

       You will need to provide your relative’s first and last name.

Please note: If you are not already a member of the Self Reliance Association of Ukrainian Americans, you may choose to join it as part of your Nova UA FCU membership eligibility. Membership is free, voluntary, and does not require dues or participation.

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Some redemption items can be returned and some cannot. To understand the various redemption policies and processes, please review the program Terms and Conditions.

No, you cannot change the shipping address for a redemption from the address on file. This is to protect you against fraudulent use of your points. If you would like to change your address, you will need to contact Nova UA Federal Credit Union to adjust.

uChoose Rewards is working with a variety of merchant and digital wallet partners. As we sign up those partners, you will have the opportunity to use points as a payment method during checkout and use your uChoose Rewards enrolled card for any residual balance after you use your points.

You can redeem your points at the point-of-sale with our Pay with Points program or online for cash back, event tickets, electronics, gift cards, hotel rooms, rental cars, airline tickets, and so much more. Browse the Redeem Points tab of the uChoose Rewards site to see all the options available to you.

To open a business account, follow these steps:

1. Become a member of Nova UA Federal Credit Union by opening a personal account. You can do this online or by visiting our branch.
2. Visit the branch in person (Monday to Friday) to submit your business documents.
3. Once you submit your documents, please allow 1–2 business days for our Compliance Office to review and determine your eligibility.
4. If approved, we’ll contact you to schedule a second visit to the branch to officially open your business account.

Our team is here to guide you through every step of the process.

Yes! Business accounts come with convenient digital and remote access, including:

• Online banking
• Mobile banking app
• eStatements
• Remote check deposit
• Direct deposit and ACH services (where applicable)
• Access to ATMs nationwide for balance inquiries and withdrawals

You can manage your business finances securely from anywhere, anytime — whether you're at the office, on the go, or out of state.

Yes, you can add multiple authorized signers to your business account.
Each signer must provide valid ID and will have access to account functions as permitted by your business resolution or agreement.

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• A minimum deposit of $50 is required to open a Business Share (Savings) Account
• $500 is required to open a Business Share (Checking) Account
• There is a $15 monthly maintenance fee for Business Checking Accounts

Required documents may vary depending on your business type, but generally include:

1. EIN (Employer Identification Number) from the IRS
2. Valid government-issued ID for all business owners or signers
3. Business formation documents, such as:
   • Articles of Incorporation or Organization
   • Operating Agreement or Partnership Agreement
   • Corporate Resolution (if applicable)
   • Business License (if applicable)

We currently offer:

• Business Share (Savings) Accounts – Required to establish your business membership
• Business Checking Accounts – For managing day-to-day transactions
• Certificates of Deposit (CDs) – For saving with higher, fixed-term dividends
• Business Loans and Lines of Credit – Subject to eligibility and approval

We typically require either:

• 20% of the sale price as a down payment to avoid private mortgage insurance (PMI), or
• 10% down payment plus PMI (Private Mortgage Insurance), which protects the lender and allows for a lower down payment.

Our mortgage specialists can help you determine the best option based on your financial situation.

Fixed Rate Mortgage

The interest rate remains the same throughout the loan term, ensuring consistent monthly payments. This option is ideal for borrowers seeking long-term financial security and those who prefer the certainty of a fixed payment schedule, unaffected by market fluctuations.

Variable Rate Mortgage

A variable rate mortgage typically begins with a lower interest rate than a fixed-rate mortgage, offering potential cost savings in the early years. As market conditions change, your interest rate may adjust periodically. In periods of lower or stable interest rates, borrowers can benefit from reduced payments, making it a flexible and cost-effective choice for those comfortable with some variability in their loan terms.

Choosing the Right Mortgage

While fixed rate mortgages offer unwavering consistency, variable rate mortgages provide the opportunity for savings and adaptability, especially when interest rates are favorable. Depending on your financial goals, market conditions, and comfort with changes in your payment schedule, a variable rate mortgage may be a beneficial option to consider.

Mortgage loans are available in most states within the United States. If you have any questions about purchasing a property, please feel free to contact us. We’re happy to help.

No, Nova UA FCU does not currently offer FHA loans. If you are interested in other mortgage options or down payment assistance programs, please contact us to learn about the alternatives we provide.

Mortgage payments can be made via:

• Automatic payments from your Nova UA FCU account
• Online or mobile banking
• In person at the branch
• By mail
• External payment

You can either contact us directly or download the checklist to see the required documents.

You can start your mortgage application by:

• Visiting our branch and speaking with a mortgage specialist
• Calling our mortgage department to schedule an appointment: (973) 471-0700 ext. 117

Our team will guide you through the application process, documentation, and approval steps.

Approval times vary but usually take a few business days once all documents are submitted.

Yes, most loans can be paid off early without penalty. Check your loan agreement or ask us for details.

Rates depend on the type of loan, your credit score, and loan term. Contact us for current rates and personalized options.

Typical requirements include:

• Proof of income
• Valid ID
• Credit history
• Information about debts and assets

Apply for a loan →

You can apply by visiting a branch, calling our loan department, or starting your application online if available. Our staff will guide you through the process.
Apply for a loan →

We offer a variety of loans including:

• Auto loans
• Home equity loans and lines of credit (HELOC)
• Credit cards
• Business loans (subject to eligibility)

A checking account is a type of bank account that allows you to deposit money, make withdrawals, write checks, and use a debit card for everyday transactions. It’s designed for frequent access to your funds rather than long-term savings.

To open a checking account, you must first become a member and open a savings account with an initial deposit of $50. Once your membership and savings account are established, you can open a checking account with an initial deposit of $100.You’ll also need:

• A valid photo ID (driver’s license, state ID, or passport)
• Your Social Security number or Tax ID
• Proof of address

No, there is no monthly maintenance fee associated with our checking accounts. You can enjoy convenient access to your money without worrying about hidden charges.

A checking account is meant for everyday spending — such as paying bills, making purchases, or withdrawing cash.A savings account is designed for saving money over time and typically earns interest, but may have limits on the number of withdrawals you can make per month.

You can manage your checking account easily through:

• Online and mobile banking
• ATMs
• Debit card transactions
• Writing checks
• Visiting any of our branch locations

You can also take advantage of features like bill pay, mobile check deposit, and account alerts to stay on top of your finances anytime, anywhere.

Yes! Our credit card includes a rewards program where you earn points for every dollar you spend.
Points can be redeemed for merchandise, travel, gift cards, and more.

For full program details, feel free to contact us directly.

Your credit limit is based on:

• Your income
• Credit history
• Other financial factors

We’ll review your application and let you know the approved limit after evaluation.

You only need two items: Become a Credit Union member and submit a completed application online or in person.

Become a Member →

You can apply by:

• Visiting our branch in person, or
• Starting your application online

Apply →

Our team is happy to guide you through the process.

Our credit card includes:

• Low interest rates
• No annual fee
• No balance transfer fee
• Online and mobile account access

A secured credit card is a type of credit card that requires a cash deposit as collateral. With our secured card, your credit limit is based on the amount you choose to deposit, plus an additional 10%. This deposit protects the issuer if payments aren’t made and helps you build or rebuild credit while using the card responsibly.

The deposit reduces risk for the bank and makes it easier for people with low or no credit to get approved.

Yes. All secured cards report to all major credit bureaus, helping you build or rebuild your credit with on-time payments.

Yes. You get your deposit back when you close the account in good standing or when the bank upgrades you to an unsecured card.

Yes. Nova allows you to increase your credit limit by making additional deposits.

No. A secured card works like a real credit card. You borrow against a credit line, not your deposit.

A debit card gives you convenient access to your checking account. You can use it to make purchases, pay bills, or withdraw cash directly from your account — anytime, anywhere.

A debit card is linked directly to your checking account, so funds are withdrawn immediately after each transaction. A credit card, on the other hand, lets you borrow money and pay it back later, often with interest.

Yes! You can use your debit card for online shopping and international transactions anywhere Visa® is accepted. If you’re making a purchase on an international website, you may need to enable one-day international access in your mobile app before completing the transaction.

If your card is lost or stolen, please call (800) 472-3272 (card self-service line) to report it immediately. You can also contact us at (973) 471-0700 Ext. 120 during Nova UA FCU business hours for further assistance.Additionally, you can log in to your mobile banking app and temporarily lock your card to protect yourself from fraudulent activity.

There are no fees for using your debit card. We’re part of the MoneyPass® network, giving you access to over 40,000 ATMs nationwide — all free of charge. Just make sure the ATM you use is part of the MoneyPass® network. You can find participating locations through the ATM locator on our website.

The daily ATM withdrawal limit is $750.

A CD is a savings product that allows you to deposit money for a fixed period of time at a fixed interest rate. In return, you earn interest on your deposit.

When you open a CD, you agree to leave your money in the account for a set term, such as 6 months, 1 year, or 5 years. Withdrawing funds before the maturity date may result in penalties.

• Guaranteed interest rate for the term
• Safe investment with low risk
• Helps with long-term savings goals

Yes. Withdrawing money from a CD before the maturity date may result in an early withdrawal penalty, which can reduce the interest earned or even part of your principal.

When your CD reaches maturity, you can:

• Withdraw the funds, including earned interest
• Renew or roll over the CD for another term
• Transfer the funds to another account

There is also a 7-calendar-day grace period after maturity, during which you can make changes to your CD without penalties.

Yes! You have 7 calendar days after opening your CD to add money, make withdrawals, or even close the CD without any penalties.

An IRA (Individual Retirement Account) is a savings account designed to help you save for retirement. It offers tax advantages depending on the type of IRA.

Traditional IRA: Contributions may be tax-deductible, and earnings grow tax-deferred until withdrawn.

Roth IRA: Contributions are made with after-tax dollars, but qualified withdrawals are tax-free.

Coverdell ESA (Education Savings Account): A type of IRA for education expenses, allowing tax-free growth when used for qualified education costs.

Anyone with earned income can open an IRA, subject to IRS rules and contribution limits. Specific eligibility rules may apply for Roth IRAs and Coverdell accounts.

Traditional IRA: Withdrawals can begin at age 59½ without penalties; earlier withdrawals may incur taxes and penalties. Required minimum distributions (RMDs) must start at age 73.

Roth IRA: Contributions can be withdrawn anytime tax- and penalty-free; earnings may be withdrawn tax-free after age 59½ and 5 years after the first contribution. Roth IRAs do not have required minimum distributions during the owner’s lifetime.

Coverdell ESA: Funds must be used for qualified education expenses; non-qualified withdrawals may incur taxes and penalties. Funds must be distributed by the time the beneficiary reaches age 30.

Yes. Early withdrawals from a Traditional IRA may incur a 10% penalty plus applicable taxes. Roth IRAs have penalties on earnings withdrawn early, but contributions can generally be withdrawn without penalty. Coverdell ESA withdrawals for non-education expenses may also incur taxes and penalties.

Zelle is a fast and secure way to send and receive money directly between U.S. bank accounts, typically within minutes.

You can send money using Zelle through your bank’s mobile app or online banking platform. You’ll need the recipient’s email address or U.S. mobile phone number.

If someone sends you money via Zelle, you’ll receive a notification. The funds are deposited directly into your bank account linked to Zelle—usually within minutes.

Yes, Zelle uses your bank’s security measures to protect your account. Only send money to people you trust, as transactions cannot be reversed once completed.

To use Zelle, you must first register for Bill Pay through online banking. Once registered, you’ll see Zelle as a new option available both online and in your mobile banking app.

Click the “Forgot Password” link on the login page to reset it. If you’re locked out or need assistance, contact our support team for help.

Yes. We use advanced encryption and multi-factor authentication to protect your information and keep your accounts safe.

Yes, you can deposit checks using the mobile app. Simply:

1. Endorse the check
2. Take photos of the front and back
3. Submit through the app

Check deposit limits and funds availability policies may apply.

Yes! Download our Nova UA FCU Mobile App from the Apple App Store or Google Play Store. Once installed, log in with your online banking credentials to securely manage your accounts on the go.

You can enroll by visiting our website and selecting “Enroll”.
Follow the prompts to create your login.
If you need help, contact us or stop by the branch.

With our digital banking services, you can:

• Check account balances and transaction history
• Transfer funds between accounts
• Deposit checks remotely using mobile deposit
• Pay bills online
• Set up account alerts and notifications
• View eStatements
• Apply for loans or credit cards (if available)

Yes! Nova UA FCU offers secure and convenient online banking and a mobile app, allowing you to manage your accounts anytime, anywhere.

Call us immediately during business hours or log in to your online account to block the card.
To get a replacement card:

• Email us a signed request (admin@novafcu.com), or
• Visit the branch in person

We’ll issue a new card as quickly as possible.

Phishing is a scam to steal your info through fake emails or messages. If you're unsure, don’t click — contact us to verify.

• Don’t share your PINs or passwords
• Use strong passwords
• Watch out for fake emails or texts
• Check your account often

Call us right away or visit the branch during business hours.
The sooner you report it, the faster we can act to protect your account.

We use encryption, secure logins, and fraud monitoring to keep your accounts safe.

We aim to respond to all messages within 1 business day.
Some requests may take longer if more review is needed.

Yes — but some requests may require a signature or an in-person visit.
We’ll let you know what’s needed based on your request.

Visit our Location & Hours page on the website for the most up-to-date hours.

• Sunday: Closed
• Holiday hours may vary.

You can reach us:

• By phone during business hours: (973) 471-0700 ext. 110
• In person at our branch
• By email through our contact form or direct email address: admin@novafcu.com

Contact us →