Dominion Employee Voluntary Separation Plan FAQs
Q: What happens to my credit union membership if I take the Voluntary Separation Plan?
Credit union membership is for life – once a member, always a member. You do not need to close your membership. Your immediate family members may also continue to join the credit union. Dominion retirees are still eligible to join if they have not already.
Dominion Credit Union has numerous benefits you can continue to take advantage of even after your severance period ends. These include: savings certificates, money market savings, car loans, credit cards with a rewards program, free checking and Bill Payer, and 24 hour account access including Online and Mobile Banking.
For assistance please call us at 800-268-6928.
Q: What happens to my Dominion Credit Union loans and other deductions if I take the Voluntary Separation Plan?
Dominion Credit Union Loans
Your loan will remain in place until maturity. There is no requirement to pay the loan off or refinance with another lender. You may continue to use the credit union for existing and future loans.
Payroll deductions will discontinue as of the end of the advance notice period (or the end of your special leave if you are on a Special Leave to Retire Severance). This includes all savings deposits into your or your family accounts, and all loan payments.
Please note: If you are currently paid semi-monthly, please note that at the end of the deduction period your loan will be converted to a loan with monthly payments.
Please contact Dominion Credit Union at 800-268-MYCU (6928) prior to the end of your advance notice period, to arrange for a new loan payment method of automatic transfer from your credit union account or coupons. To continue the discount on your loan rate, you will need to contact us to set up automatic transfer from your Credit Union savings or checking account. Credit card account holders will continue to receive monthly bills as usual.
Q: Can I have my severance, pension and social security checks deposited at the Credit Union?
Yes! You will need the following information to get started:
Dominion Credit Union
One James River Plaza
P.O. Box 26646
Richmond, VA 23261-6646
800-268-6928
Bank Routing (ABA) Number: 251082644
Your ten digit account number for direct deposit into checking
If you wish to do direct deposit to your savings, your account number will be up to five digits.
Q: How can I access my Credit Union account after retirement?
No matter where you are, you're never far from your money with:
- A Member Service Call Center available Monday – Friday, 7 am – 5 pm EST
- Private Teller automated phone service for transactions 24/7
- Online Banking – make transfers, check your balances, request withdrawal checks and much more from anywhere, anytime.
- Mobile Banking - check account balances and transfer funds.
- Surcharge free ATM transactions at ATMs in the CU24/CUHere networks
- A network of Credit Union Service Centers where you can make basic teller transactions
- A full-range of eServices, ATM and Debit Cards, and automatic deposits that make banking easy
Click here to find out more about these convenient access points.
