Move your Money: Follow these steps!

Follow these Steps!

Keep in mind that everyone's financial situation is different, and some of these steps may not apply to you.  On the other hand, there may be some things you need to take care of that are not on this list.  The best thing to do if you are serious about moving your money is to call us at 515-255-0800 so we can discuss these options with you.

1. Open a new bank account with a small deposit. 

CCI currently has checking and savings accounts at three institutions in the Des Moines area: Iowa State Bank ,Bankers Trust, and Veridian Credit Union.  For a list of options near you, we encourage everyone planning to move their money to visit the websites of the Iowa Credit Union League and the Community Bankers of Iowa.  Setting up a new account is not time consuming, and in some cases can be done online.  These community banks and credit unions will be able to make your transition as smooth as possible.

2. Make a list of all the automatic withdrawals and deposits to your current account.

This will ensure that you are covering all your bases as you transition from one account to another. You will need to notify these institutions - any bills that you automatically pay, for example - of your new account information once you have a new account ready. Leave nothing out!

3. If you have direct deposit, ask your employer to reroute your paychecks to your new account. 

Ask what date the first deposit will occur and use this date to guide you as you set up your new account.

4. Once you know what date your direct deposits will transfer, reschedule each automatic payment or debit to come out of your new account.

Make sure to ask the company what date the change will apply.

5. Leave at least a small amount of cash in your old checking account.

This will cover any expenses or checks that you may have forgotten about.

6. Transfer the final funds from your old account into the new account. 

Once you are sure that no more money will be withdrawn from your account, you can move the remaining balance into your new account.

7. Once the transfer clears in your new account, follow the procedures for closing an account at your old financial institution

On June 15, everyone who is ready will deliver these letters to Wells Fargo, officially closing their accounts.  Any money remaining in your account on that day will be returned to you. You should receive written confirmation that your account has been closed within 30 days.