Your auto loan with Financial Center First Credit Union was sold to Elements Financial on December 13, 2024. This is a standard loan sale transaction and does not impact your loan rate, terms, or amount owed. However, it does affect how you will make payments moving forward.

We would like to educate you about your new membership with us. Please see below for important FAQs.

We look forward to serving your financial needs. If you have questions about your loan, please contact Member Service at Elements directly via 317-276-2105 or 800-621-2105 or customerservice@elements.org.

HIGH PRIORITY AUTO LOAN TRANSITION QUESTIONS

Why was my auto loan sold from FCFCU to Elements Financial? 

  • Transitions like this one are common in the financial industry. Elements has purchased your auto loan from FCFCU, and the credit unions are working together to make this a smooth transition for you.

How will my auto loan change now? 

  • Your loan account number will change as well as how you make your payments; however, your balance, payment amount, rate, due date, and grace period will remain the same. You will need to update your payment information as described below in these FAQs.

How do I make my loan payments?

  • If you currently have an electronic payment with FCFCU:
    You can set up a new electronic payment directly with Elements by establishing a Pre-Authorized Transfer using this form. Please include your new loan account number that you will receive in your onboarding correspondence. You may securely return the form to loanservicing@elements.org. Please allow 7 business days for processing.
  • If you currently have a payment scheduled through online banking: 
    Update your online bill payment using the Elements Routing Number 274073834 and your new loan account number you will receive in your onboarding correspondence. Update the address to Elements Financial Loan Payments:

    • Elements Financial Loan Payments
      P O Box 75460
      Chicago, IL 60675-5460 

  • If you currently send your payment via check by mail:
    Here’s the new address to begin using. Please include your new loan account number you will receive in your onboarding correspondence in the memo section.

    • Elements Financial Loan Payments
      P O Box 75460
      Chicago, IL 60675-5460 

  • You may also pay by phone at 800-621-2105 with a debit card or routing/account number. The fee for this service will be waived for former FCFCU loan accounts through February 28, 2025. 

How do I set up a payment within Online Banking?

  • After December 16, 2024, you will be able to log in with our Online Banking platform and choose "Pay a Loan" from the "Transfers & Payments" menu to pay from an Elements account for immediate payment. To learn how to enroll in Online Banking, click here.
  • You can also pay from a Verified External Account by clicking "Transfer Money” to make a payment from another bank or credit union. This can take 2 business days for new payments to process and up to a week to set up the external transfer with your other financial institution. Click "Transfers & Payments" and then "Manage External Accounts" to verify your external account.

How does Elements process auto loan payment amounts that differ from the current amount due? 

  • As a first step, the best place to see your current amount due is within the Elements Online/Mobile Banking platform. Find this information by clicking your auto loan tab from the list of your accounts; then, choose Details & Settings; and refer to your “Next Payment Amount.” (Another option is to call Elements for your current amount due.)
    • If the payment you wish to make is less than the “Next Payment Amount” shown, your payment will apply to this current amount due.
    • If the payment you wish to make is more than the “Next Payment Amount” shown, your payment will satisfy the current amount due and result in excess.

Excess payments will be posted in one of the following ways:

  • Manual Posting:
    • If you are making your payment by phone or in person with an Elements representative, you can ask to post your excess payment to your loan principal or to your next payment amount due. The excess can be applied toward your next loan bill for a maximum of 3 billing periods. After that, the excess will go to the loan principal.
  • Automated Posting:
    • If you are making your payment on your own through any automated method, the excess payment will go to your next payment amount due, but only if that has been generated by our systems. (Again, check online/mobile banking or call Elements.) If your next payment amount due has not yet been generated and shows as $0, then, the excess will go to your loan principal. 

How can I pay off my loan?

  • Loan Payoff Balance requests can be made by calling 800-621-2105; payoffs can also be made at elements.org through one of our available payment options. A payoff by wire transfer is also available if needed, and an Elements team member can assist with this.
  • If a payoff is sent via mail, via FedEx, or UPS, please send those to:
    • Elements Financial
      225 South East Street,
      Suite 300, Indianapolis, IN 46202
      Attention: Payoffs 

What if I have a GAP or warranty claim? 

  • Please contact us at 800-621-2105 once you have contacted your insurance company. Please provide a claim number and any other relevant information when calling us.

Where can I find historical records and statements for my transitioned loan? 

  • You may contact us 24 hours a day/7 days a week at 800-621-2105 for assistance with this request. 

GENERAL MEMBERSHIP QUESTIONS

What is Elements? 

  • We're like a bank, only better. Here's how:
    • Better Rates, Fewer Fees. We’re a not-for-profit, member-owned credit union, and federally Insured by the NCUA. We offer similar products, services, and technologies as a conventional bank, but our unique business model allows us to return profits to our member-owners. From our High Yield Savings account to our Home Equity Lines of Credit, we offer products with competitive rates to support you on your financial journey. 
    • Respected Locally, Accessed Globally. Founded by Eli Lilly and Company, we’ve been part of the Central Indiana community since 1930. Now, we rank among the top 5% of credit unions nationally1 and serve members in all 50 states and 50 countries. Elements Financial gives you access to 5,000+ shared branches nationwide and 78,000+ surcharge-free ATMs globally — more than the country’s leading bank. Elements serves individuals through our original sponsor Eli Lilly and Company and 200+ companies across Indiana and nationally.
    • High Tech, Human Touch. Our digital services enable you to bank around the clock, and our support is warm and personalized. We feel that we’ve gotten the formula right at Elements: modern technology customized by 24/7 live agents.
    • Trusted Advice, Fresh Approach. We are focused on your financial wellness. That’s why we offer financial wellness resources and advice articles to support you. Topics concentrate on your decisions about home buying, student financial aid, credit ratings, and identity protection.

Why do I have a new Member Savings Account? 

  • Elements membership is required for all borrowers. Each borrower on a loan will have their own membership number and member savings account. The member savings account represents your membership share, and it is funded by Elements with $5 as your par value ownership in the credit union. The $5 is placed on hold to ensure your membership remains open and active. Now, with the member savings you own, you also have access to all of our products, services, and benefits.

How can I view my new account(s)?

  • Your account information is available 24 hours a day, 7 days a week through Online Banking at elements.org and our Mobile App. Our system is easy to use, efficient, private,  and secure.

How do I enroll in Online Banking?

  • You can enroll in Online Banking by filling out a simple form for first-time users. You will need to have the following personal details ready: 
    • Member Number (you will find this in your welcome letter from Elements and at the top of your statements)
    • Social Security Number (last 4 digits)
    • Your Birthdate

After you’ve submitted the enrollment form, you’ll have immediate access. You will receive an email with a temporary password, and then you can create your preferred password.

How do I access your Online Banking and Mobile App? 

  • Download the free Elements Mobile Banking app from your mobile device using Google Play or the Apple Store. Your login information (login ID and password) will be the same for both online banking and the mobile app.

The app icon looks like this: 

 

ADDITIONAL QUESTIONS?

Where should I direct my questions not answered above?

If you have questions about your new membership and/or auto loan, please contact Member Service at Elements directly via 317-276-2105 or 800-621-2105 or customerservice@elements.org. We are standing by to serve all your financial needs.