General Questions:

Q. What is a Credit Union?

A: A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.

Q. Who owns a credit union?

A: Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.

Q. Who can join a credit union?

A: A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or economic group. Call our Financial Solutions Center at 704.969.6700 or 800.462.4421 to see if you are eligible to join Sharonview.

Q. What is the benefit to my company to offer Sharonview membership?

A: Offering Sharonview Federal Credit Union is a no-cost, easily administered employee benefit, that reaps multiple rewards. Credit union membership is a highly desired benefit among employees. By offering Sharonview Federal Credit Union as a benefit, you not only show your employees that you care about their financial well-being, you also give your employees more choices in their financial endeavors. For more information, email us at benefit@sharonview.org.

Q. What is the benefit to my employee if my company offers Sharonview membership?

A: Sharonview is proud to be a not-for-profit organization that puts all funds not used for operating expenses back into the credit union in the form of no, or low fees, higher savings rates, and lower loan rates. All member/owners of Sharonview have a voice and a say. We are a truly unique financial institution. As a full-service financial institution, we can compete with most financial venues and offer excellent service as well. In addition, once your employee joins Sharonview, their family members are also eligible for membership. For more information email us at benefit@sharonview.org.

Q. How can a business offer membership to employees?

A:

  1. Your business may apply for membership by emailing us at benefit@sharonview.org, or calling 704.969.6700 or 800.462.4421, and requesting an information packet.
  2. In the information packet, you'll find a sample request letter, as well as a company profile and service agreement. Once these forms have been completed and returned to Sharonview, they are sent first to our Board of Directors and then on to NCUA (our federal governing agency) for final approval.
  3. Once an approval has been given, representatives from Sharonview will come to your business to share the benefit of the credit union with employees. This final step makes it easy and convenient for your employees to take advantage of gathering information and asking questions.

Banking Questions:

Q. What is the ABA routing and transit number for Sharonview?

A: Sharonview's routing and transit number is 253075303. You will find this number on the bottom of your checks. The first set of numbers listed is our routing number.

Q. Are savings deposits insured?

A: Yes. All savings accounts are insured to at least $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government.

Q. How do I stop a payment on a check?

A: Choose from the following methods to place your stop payment on a check or range of checks:

  • Through your Online Banking account, under the Additional Services menu.
  • Visit your local Sharonview branch and place a stop payment.
  • Call Sharonview for assistance at 704.969.6700 in Charlotte, NC or 800.462.4421.
  • Use our automated telephone service at 704.969.6700 in Charlotte, NC or 800.462.4421.
  • Fill out the Stop Payment Form and send it to us
A fee will be charged to you for placing each stop payment. Click here to view the current fee schedule.

Q. How do I report a lost or stolen credit card?

A: Contact our Financial Solutions Center at 704.969.6700 in Charlotte, NC or 800.462.4421 weekdays from 8:00am - 5:00pm EST. To report lost or stolen debit and credit cards after hours, use Magic One our automated telephone service at 704.969.6700 and follow the menu prompt.

Q. Does Sharonview offer Financial Counseling?

A: Yes, Sharonview does offer a free financial counseling service for members.

Q. How can I re-order checks?

A: You can re-order checks online, through Magic One, the Financial Solutions Center, or at your local branch.

Q. What can I do to protect myself from fraud?

A: There are many things you can do to help protect yourself from fraud. Things like changing your account passwords frequently, to signing up for eStatements, to reporting suspicious behavior on your accounts immediately can make a difference. For a list of suggestions, please visit our Member Security Page.

Q. What is Magic One?

A:Magic One is Sharonview's 24-hour, 7 day-a-week automated telephone service. Access Magic One by calling 704.969.6700 (Charlotte, NC area) or 800.462.4421 (Toll Free). Members can:

  • Access account information, check balances, inquire about cleared checks, and get information about taxes and IRAs.
  • Conduct financial transactions such as transferring of funds, quick withdrawal by check, loan payments, cross account transactions, and loan advances to share accounts can be conducted.
  • Re-order checks, request a copy of cleared checks and statement copies, and request a stop payment.
  • Check deposit rates, loan rates, branch hours, and product information.

Q. How can I get a copy of a cancelled check?

A: You can view up to 3 years of cleared checks through eStatements with Online Banking. You may also request a copy of a cancelled check through Magic One, the Financial Solutions Center, or at your local branch.

Q. What does it cost to use an ATM not owned by Sharonview FCU?

A: Sharonview will not charge members a fee for using any ATM. The other Financial Institution may charge a fee for the use of their machines. Locate over 30,000 fee-free ATMs now.

Q. How can I change my mailing address?

A: You can change your mailing address using a secure form in Online Banking, visiting your local branch or faxing your new address information to 704.969.6721, with your signature for verification.

Q. How do I initiate Direct Deposit?

A:Your employer's Human Resource or Payroll Department initiates Direct Deposit. Once you fill out the form provided by your employer and submit it, it may take a couple of pay cycles to see the Direct Deposit take effect. You will need Sharonview's Routing and Transit number: 253075303

Online Banking Questions

Q. How do I register for Online Banking?

A: Simply click here to enroll. You will need your member number and Magic One PIN.

Q. How do I sign up for eStatements?

A: Login to your Online Banking account and click Products and Services from the Additional Services menu. Simply click on eStatements and you'll have up to 3 years statement history, including check images and general tax information.

Q. How do I get Mobile Banking?

A: If you are already an Online Banking user, simply go to the App StoreSM or Google PlayTM and search for Sharonview. Then download the free Sharonview app on your mobile device. If you are not an Online Banking user, you must first click here to enroll. Then, after successfully logging into Online Banking one time, you may follow the directions above to download the mobile app.

Q. How do I transfer funds from another Financial Institution?

A: Login to your Online Banking account from our homepage and under Secure Forms,, you will see "ACH Transfer Money In Request" and "ACH Transfer Money Out Request". Simply fill out the appropriate electronic form, and allow up to 2 business days for processing.

Q. Why is my Online Banking not displaying correctly?

A: In order to ensure the best possible experience, please be sure you are using one of these browsers:

  • Microsoft Internet Explorer 8.0+
  • Mozilla Firefox 4.0+
  • Apple Safari 6.0+
  • Google Chrome

If you are not using one of the browsers listed above, you may encounter issues within your online banking experience. You may also see a notice that encourages you to upgrade to the latest browser. We recommend switching to one of the supported browsers listed above for an optimal online banking experience.

Q. I am using the same registered computer, why do I continue to be asked for a verification code?

A: Your computer deletes your cookies, that's why you are not recognized the next time you try to log in to online banking. To fix this just follow the steps below.

  1. Within Internet Explorer 9.0+, click the Tools icon on the upper right side (looks like a gear wheel).
  2. Select Internet Options from the dropdown list.
  3. In the Browsing history section, uncheck the 'Delete browsing history on exit' checkbox.
  4. Click the Privacy tab.
  5. Click the "Advanced" button.
  6. Select the "Override Automatic Cookie Handling" checkbox.
  7. Select 'First-party Cookies' and 'Third-party Cookies' radio buttons, if needed.
  8. Select the "Always Allow Session Cookies" checkbox.
  9. Click the OK button.

Vehicle Warranty Questions:

Q: Named Exclusion & Name Component coverage: does it extend to NEW hybrid cars made by Toyota or other?

A: Yes

Q: Where can you take your vehicle for repairs?

A: Any licensed repair facility. For major engine or transmission concerns we recommend the vehicle’s dealership or Aamco transmissions.

Q: Do you just cover to 125,000 miles?

A: Plans are available based on the year and mileage of your vehicle. You can purchase coverage on vehicles with up to 125,000 miles on the odometer (not all makes and models are eligible for coverage).

Q: Do you cover tires and maintenance?

A: No, tires and normal maintenance (ex. oil changes) are not covered.

Q: Does the VSA cover exhaust manifolds and mufflers?

A: No, exhaust manifolds and mufflers are not covered, and are part of maintenance items; however, intake manifolds are covered.

Q: What classifies Wear and Tear?

A: When the part has ceased to perform the function for which it was intended.

Q: If my radiator and engine needs to be repaired and the oil or coolant is depleted, will the member be responsible for paying for the replacing the liquids?

A: When the repair of the component is an authorized repair, the fluids will be replaced as part of the repair.

Q: How does this work, am I reimbursed for paid repairs or does the VSA pay the repair facility directly?

A: The repair facility determines the repair and obtains a pre-authorization number. Once the repair is completed, the charges are billed to an IWS corporate credit card.

Q: What is my responsibility to the repair shop to receive payment once my vehicle is being repaired?

A: IWS pays the repair facility with a corporate credit card and the repair facility is paid at retail repair facility listed rates. You are responsible for any deductible and (sales tax if applicable) and non- covered repairs.

Q: If I am not satisfied with the repairs and still experiencing problems with the vehicle what is my course of action?

A: As an IWS member, the member service and claims department will work with the repair facility to resolve any issues. Eliminating any need, concern, stress, or frustration for our IWS members, IWS works directly with the repair facility to resolution.

Q: Am I covered if I travel out of my home state?

A: Yes, an IWS VSA has nation-wide protection for your vehicle whether you are in-state or traveling out-of-state.

Q: What happens if I am traveling and my car breaks down and needs servicing overnight and/or parts are unavailable for a few days?

A: IWS’ VSA will reimburse you for any travel expense (food & lodging) up to $300 and car rental up to 10 days/$500.

Q: Why is your deductible only $100, versus a higher amount?

A: IWS keeps the deductibles at a low cost to service our existing clients and to be competitive in the market place and service new potential members.

Q: If my car needs to be repaired over some time, and I need to rent a car, do you refer to car rentals?

A: IWS’ will reimburse you for car rentals for up to 10/days or $500 dollars in total. IWS maintains a direct bill relationship with Enterprise Rent A Car, but the decision on which car rental company to use is yours.

Q: Is there towing coverage?

A: Yes, our service reimburses for towing up to $100.00 with a covered repair.

Q: What if I sell my car before the end of the warranty, what happens to the warranty coverage?

A: There are two options available to you:

  1. If you trade the car in you can call us and receive a pro-rated refund for the unused portion of the remaining months/years. For example: you trade the car in during the second year (23rd month) of a four year plan, your refund will be pro-rated based on the approx. 25 months of the remaining months.
  2. If you sell the vehicle to an individual, the VSA can be transferred to the person who is purchasing the car for a small fee of $40.00.

Q: What is a bumper-to-bumper warranty?

A: Your automobile insurance covers bumpers; bumpers are external to your vehicle and not covered. IWS Named Exclusion coverage is our most comprehensive service plan; it covers eligible vehicles almost entirely. Our Named Exclusion plan covers every mechanical, electrical, and electronics failure. The reason this coverage is called Named Exclusion is that there are too many parts/components to list. Examples of listed exclusions; any required maintenance by the manufacturer, any pre-existing condition, any aftermarket products not installed by the manufacturer, and external items (body parts) that are covered by your automobile insurance, such as bumpers, glass, hood, fenders, door panels, etc.

Q: Am I covered 24×7 to reach someone at claims?

A: The answer is yes, we have coverage 24 hours a day and 7 days a week.

Q: “Replacement components / parts may include the use of remanufactured or like kind and quality parts.”

A: IWS’ ability to use LKQ or re-manufactured parts is a standard clause in every extended warranty. The intent of the clause is to insure that we are accountable for repairing a vehicle not re-building it. For example if a vehicle with 99,000 miles on it has a failure and needs a new engine or transmission, the intent of the contract is not to put a new engine in it, effectively rebuilding it and extending its life another 150,000 miles. The intent is to find a “like kind and quality” engine which will repair the vehicle and permit it to function as it did just prior to the breakdown.

Q: What does re-manufactured mean?

A: Re-manufactured means that a re-builder takes an OEM part and re-news it, these parts can come with warranties as long as 3 year/50,000 miles down to a 12 month /12,000 mile warranty from the re-manufacturer.

  1. To further explain, a part of like kind and quality would be one that was in a car of like mileage and age. In practice, we always attempt to find parts that are from vehicles with less mileage than the vehicle being repaired. These parts are obtained from a national parts supplier and come with a minimum 12/12 warranty from the parts supplier. Of course, it is in our best interest to find a part that will satisfactorily complete the repair as we likely still will cover the vehicle for some period after the repair and do not want to do the same repair a second time. It is not cost effective. IWS’ will always request new parts to be installed by the repair facility, however, if the vehicle new parts are unavailable, based on age of vehicle, manufacturer no longer supplies the part, then IWS will advise the repair facility to acquire rebuild parts. The member of IWS does not foot the bill for any repairs as long as the program covers that vehicle component.
  2. Wear and tear explained
    Wear and Tear is exclusion on all property insurance policies, including auto, home, boat, business, RV, machinery, equipment, etc. Wear and Tear is considered” the natural and inherent wear characteristics” of the property being insured. For mechanical breakdown coverage, the property is car parts. By insurance company guidelines, every component of the vehicle has a specific lifespan limit. The Lifespan is measured by time and/or mileage. Should a component fail before that limit is reached; the failure is considered covered since the component “has exceeded normal wear tolerances.” However, should a failure occur after that limit, the claim is denied for “normal wear and tear.” With many other mechanical breakdown coverage’s, certain claims can and will be denied! Unlike almost every other type of mechanical breakdown coverage, IWS's plan actually covers mechanical failure due to wear and tear!
  3. According to a warranty industry survey, approximately 25% of all “problem” claims are due to wear and tear, which is generally not covered. Most people just assume that their contracts will pay for repairs as long as the coverage is forced.
  4. It is certain that various auto parts will wear out during the time that one keeps a vehicle, regardless of how carefully the vehicle has been maintained.

Mechanical Breakdown Protection Questions:

Q: What is Mechanical Breakdown Protection (MBP)?

A: Mechanical Breakdown Protection, also known as a Vehicle Service Contract or Extended Warranty, is automobile protection that extends beyond the manufacturer’s factory warranty and covers repairs of unexpected mechanical breakdowns. For the period of time the contract is in effect, you are assured that covered components of your vehicle will be repaired in the event of failure, including labor, subject to any applicable deductibles.

Q: Why should I purchase MBP?

A: A mechanical breakdown protection plan buys you “Peace of Mind” for “Pennies a Day.” An MBP plan will help insure that your vehicle is kept in the best repair condition and it can save you thousands in the event of mechanical failure during the term of your coverage. Vehicles are becoming increasingly complex. Consequently, a single major repair typically can cost more than the cost of mechanical breakdown coverage.

Q: If I am still covered by the manufacturer warranty, why not wait until later to purchase Mechanical Breakdown Protection?

A: The pricing of our extended warranty is based on mileage, age and other factors. The sooner you purchase your extended warranty, the less it will cost. As your vehicle gets older, the price for protection increases and the available terms of coverage (months/miles) decreases. You also run the risk of becoming ineligible for coverage the longer you wait. Another thing to consider is that pricing may increase over time due to increasing parts and labor prices. Lock in today’s low prices and protect yourself from tomorrow’s rising repair costs.

Q: Is there a free look period?

A: Yes, all vehicle service contracts come with a 60 day free look period. There is a 100% refund if cancelled during this time if no claims have been paid. After 60 days, cancellations are pro rated.

Q: When is my coverage effective?

A: There is no waiting period and coverage is effective the day you purchase the plan.

Q: Do I have to go back to my original dealer for repairs?

A: No, repairs can be performed at any licensed repair facility of your choice in the United States and Canada.

Q: How quickly are claims paid?

A: Claims are paid by Interstate via a corporate credit card directly to the repair facility within 2 hours after they have received the final invoice.

Q: What happens if I have a claim on my vehicle?

A: Follow these instructions:

  1. Take your vehicle to a licensed repair facility in the United States.
  2. Give the service manager your ID card with all the plan information.
  3. The service manager will determine the necessary repairs and call Interstate to obtain.

Q: If I sell my car, what do I do about my vehicle service contact?

A: You can either submit a Cancel Request Form and receive a pro-rated refund or you can transfer it to the new owner for a $50 fee. Including your warranty when you sell your vehicle make it more valuable.