How long does it take to get a loan at Bethex?

It depends largely on how quickly you turn in the paperwork. A final decision on your loan cannot be made until you provide the requested documents. So, if you provide all documents at the interview, we can decide within a day or two. But, if you take 30 days to bring your paperwork in, that's how long it will take before we will have an answer for you.

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Why does Bethex require a cosigner for all first loans, even if my credit is good?

Bethex, as a policy, requires a cosigner for all first loans (except for the Goal Saver loan). Because it is a policy, we cannot make any exceptions. The reason we require a cosigner is so that all our members go through the same process to get a loan at Bethex. You can improve your overall credit and your credit with Bethex if you pay your loan on time every time. Then, if you want another loan, you may be able to get one without a cosigner.
When Bethex gives out loans, it risks the cooperative's money. In order to stay healthy, grow, and offer you as many services as possible, we need to be sure that we collect on all the loans we give. Our cosigner policy is one way that we can continue to give you continued services.

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Can Bethex help me write my business plan or do my accounting?

Yes! Our business consultant is available to help you with managing all aspects of your business. Call 718.299.9100 to set up an appointment.

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Can Bethex help me solve credit problems and learn to budget my money better?

Yes. The Balance Financial Fitness Program is available 7 days a week 12 hrs a day in to help answer your questions about credit and budgeting. Available in seven different languages! Call 1.888.456.2777.

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My ATM card is not working. What's the problem?

If your ATM card is not working, the problem could be one of many things:

• You are asking the machine to access your checking, but you are only set up to access your savings with your ATM card.
  
  SOLUTION: Get money from your savings instead. If your money is in checking, call to get it transferred to your savings, find out how long you must wait before your money becomes available, then select "savings" when the machine asks what account you want. You can ask to be set up for checking, but this is not an immediate solution.
  
  

• You have reached your withdrawal limit. Each ATM card is set up with a withdrawal limit of $200. On weekends, because the company that does the ATM transmissions is closed, your limit is $200 for BOTH Saturday and Sunday. This means that you can only withdraw up to $200 for both days combined.
  
  SOLUTION: See if it is possible to change your withdrawal limit. Otherwise, plan ahead for your ATM use or come in to our office to make a withdrawal.

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If we're speaking on the phone, we can't be sure whether it is really you requesting that your address be changed on your account. So, you must come in with a phone bill or light bill and your I.D. to prove that you have changed address.

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It takes 7-10 days because Bethex must first process the check, then send it to another company. The check then goes from the other company to a clearinghouse to be sure that the funds are there for your deposited checks. It takes time to mail them and wait for them to be processed.

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What fees might I be charged?

Bethex FCU is a financial cooperative. Cooperatives are not for profit. This means that any fee that we charge pays for the services that you use. In many cases, if the credit union did not charge a fee, it could not offer the service. Any extra money made from fees will be returned to you in dividends or increased services.

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