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Frequently Asked Questions About ""

• Why do you call it “dividends” instead of “interest?”
  

  Whereas banks pay interest, credit unions pay dividends. It’s a similar principle of earning money on your deposit.

• LGE's Routing Number
  

  LGE's routing number is 261171480

• How often must the requirements be met to qualify for the rewards?
  

  The qualification period goes from the first day of the month through the last day of the month (the statement cycle).

• What can you use the funds in the account for?
  

  You can withdraw HSA account dollars, tax-free, for any qualified medical expenses. An eligible medical expense is an expense that pays for healthcare services, equipment, or medications as described in IRS Publication 502. In general, your HSA can be used for:

  • expenses applied to your health plan deductible
  • dental care services
  • vision case services
  • prescriptions drugs and medicines
  • certain medical equipment

  A list of eligible medical expenses can be found in IRS Publication 502 at www.irs.gov

• If I use my debit card at an ATM, will that transaction count toward my requirements?
  

  No, ATM transactions do not count toward the requirements. Only point-of-sale transactions that post to your account during the statement cycle count (PIN entered or signature based).

• If I use my credit card for a cash advance, will that transaction count toward my requirements?
  

  No, cash advances do not count toward the requirements.

• Why do I have to keep my check after I’ve made my deposit?
  

  Deposited checks must be securely retained for 60 days in case LGE requests it for review to facilitate the clearing and collection process, to address third party claims, or for our own audit purposes.

• What accounts can I deposit to?
  

  Snap Deposit can be used for both personal and business accounts.  You can make a deposit into your Savings, Checking, or Money Market account.

• Change Card PIN or Activate Card
  

  To activate a new Visa Debit, Visa Credit, or ATM card or change your PIN:
  

  • Call 1-866-677-7151
    Press 1 to activate your card
    Press 2 to report your card lost or stolen
    Press 3 to change your PIN (must know old PIN number)
• Who is it for?
  
  • Owner-operated
  • For profit
  • Organized as a sole proprietorship, corporation, or professional partnership
  • Within the size guidelines designated by the SBA
  • Unable to secure other credit under reasonable terms
• How is the dividend rate calculated?
  

  Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

• What can an SBA loan offer?
  
  • Flexible loan structure
  • More time to repay the loan
  • Lower down payments

  Qualifying for an SBA loan is easier than qualifying for other loans. First, the SBA allows higher loan-to-value ratios. Depending on your loan request, you may be able to borrow up to 100% of your financing needs. Secondly, we can potentially offer longer finance terms with different payment options. This may be especially advantageous if your business is growing rapidly.

  SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, or supply working capital for ongoing financing needs.

• Who has these accounts already?
  

  The government estimates that over 3 million Americans currently own these tax-advantaged accounts.

• Is there a minimum balance requirement in order to receive my rewards?
  

  No, there is no minimum balance requirement to receive your rewards.

• Must I access my eStatement online in order to qualify for the rewards?
  

  No, you are not required to access your eStatement online. You are only required to sign up and receive the eStatement notification by email. We strongly encourage you to review your account statement regularly; however, this is your choice.

• May I carry forward debit card or credit card transactions in excess of the required number to the next statement cycle?
  

  No, only transactions that post during the qualification period will count towards the requirements for that statement cycle.

• On a joint account, do debit card or credit card transactions from either of the account owners count towards the monthly requirement?
  

  Yes, transactions from each account owner count toward the monthly requirement.

• If I fail to meet the requirements during this statement cycle, can I still have a chance to qualify during the next statement cycle?

  

  Yes, you can start over next month and work towards meeting the requirements.

• If my account balance goes negative, will I still be able to qualify for my rewards during that statement cycle?
  

  Yes, as long as you meet the requirements you will still qualify for your rewards.

• What happens if the requirements for High Rewards Checking are not met?
  

  You will not receive dividends and you will not be eligible to receive cash back on credit card purchases. In addition, non-LGE ATM fees will not be refunded.