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How to transfer money with Zelle®

Melanie Tarrant on June 23, 2025

What is Zelle®?

Zelle® is a convenient way to send and receive money with friends, family and others you trust through your bank or credit union’s mobile app or online banking. All you need is your recipient’s email address or U.S. mobile number, and money will be available to use in minutes if they’re already enrolled with Zelle®. Your account information and activity stay private. Zelle® is available in over 2,200 bank and credit union apps – so it’s probably already in yours.

 

 

How can I use Zelle®?

You can send, request, or receive money with Zelle®. After you’ve enrolled, simply add your recipient’s email address or U.S. mobile number, the amount you’d like to send or request, review and add a memo, and hit “confirm.” In most cases, the money is typically available in minutes. To receive money, just share your enrolled email address or U.S. mobile number with a friend or person you trust and ask them to send you money with Zelle®.

 

Who can I send money to with Zelle®?

Using your AGCU account, with Zelle®, you can send money to people you know and trust with an eligible bank account in the U.S.

 

Someone sent me money with Zelle®, how do I receive it?

If you have already enrolled with Zelle®, you do not need to take any further action. The money will move directly into your bank account associated with your profile, typically within minutes1.

If you have not yet enrolled your Zelle® profile, follow these simple steps:

  1. Click on the link provided in the payment notification.
  2. Select your bank or credit union.
  3. Follow the instructions provided on the page to enroll and receive your payment.

Note: Make sure you check that the email address or U.S. mobile number that you provided to the sender is enrolled with Zelle®. If you provided an email address or U.S. mobile number that is not yet enrolled with Zelle®, contact your bank to register your email address or U.S. mobile number that your sender used to send the payment with Zelle®.

 

Are there any fees to send money using Zelle®?

Typically, there are no fees for consumers to send or receive money with Zelle®. We recommend confirming with your bank or credit union that they do not charge fees for Zelle® transactions.

 

Are there any transaction limits sending money with Zelle®?

Sending Payments

  • Per Transaction Limit – $500
  • Daily Transaction Limit – $500
  • Weekly Transaction Limit – $600
  • Monthly Transaction Limit – $2400

 

 

How many transactions can I make using Zelle®?

Sending Payments

  • Daily Transaction Limit – 2
  • Weekly Transaction Limit – 10
  • Monthly Transaction Limit – 40

 

 

How long does it take to receive money with Zelle®?

Money sent with Zelle® is typically available to an enrolled recipient within minutes.1

If it has been more than three days, we recommend confirming that you have fully enrolled your Zelle® profile, and that you entered the correct email address or U.S. mobile number and provided this to the sender.

Please contact AGCU Member Care team for help.

 

What if my bank or credit union doesn’t offer Zelle®?

Don’t worry! Our network of participating financial institutions is always growing. Keep checking our Get Started page for the full list.

 

Can I use Zelle® internationally?

In order to use Zelle®, the sender and recipient must have U.S. bank accounts.

 

Can I cancel a payment?

You can only cancel a payment if the recipient hasn’t yet enrolled with Zelle®. You can go to your activity page within the Zelle® experience, choose the payment you want to cancel, and then select “Cancel This Payment.”

If your recipient has already enrolled with Zelle®, the money is sent directly to your recipient’s bank account and cannot be canceled. This is why it’s important to only send money to people you know and trust, and always ensure you’ve used the correct email address or U.S. mobile number when sending money.

 

Can I access Zelle® to send or receive money without a smartphone?

You can send and receive money through the AGCU Mobile app, or by logging in to AGCU online banking. Click “Send money with Zelle®” in the left side menu to begin.

 

What does the purple “Z” on my contacts mean?

Knowing your friends, family and those you trust are enrolled with Zelle® is simple, we’ve tagged your contacts that are already using Zelle® with a purple “Z”. Don’t see the purple “Z” on a contact? Not a problem! You can still send them money with Zelle®.

What are my options if I don’t want others to see the purple “Z” and know that I’m using Zelle®?

At present, the only option is to unenroll from Zelle®. We don’t want to see you leave, but if you’ve made that decision, please contact your bank or credit union to unenroll with Zelle®.

 

Can I reverse a Zelle® payment?

No, Zelle® payments cannot be reversed. With Zelle® money moves into an enrolled recipient’s account within minutes and cannot be reversed.

 

I sent money to someone and they never received it. What should I do?

First, check the payment status within your payment activity in your bank’s online or mobile service. If the payment status is pending, the recipient may not have enrolled their mobile number or email address to receive the payment. At this point, you have the option to cancel the payment.

If the payment status is completed, then the money is already in the recipient’s bank account. If you aren’t sure of the status of your payment, contact your bank or credit union’s customer support team.

 

How do I use a Zelle® QR code?

Zelle® QR code provides peace of mind knowing you can send money to the right person, without typing an email address or U.S. mobile number.

  • Find Zelle® in your banking app, click “Send,” then click on the QR code icon displayed at the top of the “Select Recipient” screen.
  • Your phone’s camera will open.
  • To send money using a Zelle® QR code, simply point your camera at the recipient’s Zelle® QR code, enter the amount, hit “Send,” and the money is on the way!

 

When sending money to someone new, it’s always important to confirm the recipient is correct by reviewing the displayed name before sending money.

How do I find my own Zelle® QR code?

To locate your own Zelle® QR code, click the “My Code” tab. From here you can view your QR code and use the print and share icons to text, email or print your Zelle® QR code.

Note: The QR code is not available at all Financial Institutions.

After scanning a Zelle® QR code and landing on zellepay.com, I located my bank, but it says the ability to use a Zelle® QR code is coming soon. Now what do I do?

Your bank or credit union does not offer Zelle® QR code yet. Until it does, you can still send money to those you know and trust by opening your banking app and sending money using the recipient’s U.S. mobile number or email address.

After scanning a Zelle® QR code and landing on zellepay.com, I located my bank, but it says the ability to use a Zelle® QR code is coming soon. I know my financial institution offers Zelle® QR code, so now what?

When in doubt, open your bank or credit union app and navigate to Zelle®. If your bank or credit union offers Zelle® QR code, you will be able to click the QR code icon displayed at the top of the “Select Recipient” screen, scan the QR code and send money. If they do not yet offer Zelle® QR code, you can still send money the way you have before by using the recipient’s U.S. mobile number or email address.

 

Will the person I send money to be notified?

Yes! They will receive a notification via email or text message. The message may be sent by Zelle® or by their bank or credit union.

 

I’m having a problem enrolling my U.S. mobile number. Why?

There are a couple of reasons you may not be able to enroll your U.S. mobile number:

  • It is already enrolled with Zelle® at a different bank or credit union
  • The phone number you provided is not a U.S. mobile number (international numbers and landlines are not accepted)
  • The phone number you are enrolling with begins with 1-800 (1-800 numbers are not eligible to enroll)

 

 

When trying to enroll with Zelle®, I received a message saying that I was already enrolled. Why?

Your mobile number or email address may already be enrolled with a bank or credit union that offers Zelle®.

If this is the case, you may re-enroll with the same mobile number or email address within the banking app of the new bank you are enrolling with. Once completed, you may start sending and receiving money with Zelle®. If you aren’t sure where you initially enrolled, contact Zelle® Support at 844-428-8542 or get in touch through our support page at zellepay.com/support/contact.

 

I believe I’ve been a victim of an imposter scam. Who should I contact?

Please contact AGCU Member Care team for help. Qualifying imposter scams may be eligible for reimbursement.

You may also report impostor scams to the Federal Trade Commission.

2025 Scholarship Recipients

Melanie Tarrant on June 20, 2025

Congratulations to the recipients of our 2025 AGCU Scholarships!

Winners were announced Thursday, June 19 at the Annual Business Meeting held at Central Assembly. Every year we award scholarships to a number of Youth Account Members who are graduating from high school and plan to attend an accredited college or university in the fall of their graduation year. It’s just our way of thanking our youth account members who have chosen AGCU as their banking institution. If you would like to learn if you or a loved one qualify for an AGCU Scholarship, contact your local branch!

Javan Brown

Javan Brown

$3000 Scholarship
Javan is graduating from Trivium Preparatory Academy in Goodyear, Arizona, and plans to attend Barrett, The Honors College at Arizona State University as a Finance major. Javan volunteers at Mercy House Community Center and regularly helps organize food drives, back-to-school supply distribution and Christmas toy drives. He serves on the tech team and student ministries team at his church, as well as playing keyboard for the Youth Worship Team.

Jonathan Buck

Jonathan Buck

$3000 Scholarship
Jonathan is graduating from Allendale Academy in Clearwater, FL, and plans to attend Embry-Riddle Aeronautical University in Daytona Beach, FL as an Engineering Technology major.Since studying via distance learning overseas as a missionary, he has been unable to participate in school activities like most Americans. However, he was able to take part in several sports clubs like swimming, rollerblading, Krav Maga and archery. He has also taken piano lessons since 2012. Jonathan volunteers at Gospel Vision, an international ministry by creating Reels, Shorts and TikToks from weekly services and TV programs to post on social media.

Micah Hufman

Micah Hufman

$3000 Scholarship
Micah is graduating from Hillcrest High School in Springfield, Missouri, and plans to attend Ozark Technical College and study to be an aviation technician. He has been on the Varsity Soccer and Archery Golf teams throughout his high school career, as well as, participated in FFA, 4-H and JROTC while holding placement on the Honor Roll. Micah received the Military Order of the Purple Heart National Leadership Award in 2022 along with multiple other awards and achievements. He volunteers at Grant Beach Sports Association and his church. Micah is on several teams at church, including Media Team, Kids’ Ministry, Prayer Team and Events Team.

Carter McDaniel

Carter McDaniel

$3000 Scholarship
Carter is graduating from McDaniel Academy that he attends from his home in Springfield, MO and plans to attend Evangel University as a business major. He has participated in Classical Christian Academy Speech & Debate for the past 4 years and been part of the Lighthouse Chargers Baseball team. He is a tech volunteer at his church where he is active in the youth group and serves in the kids’ ministry in various roles. Additionally, he volunteers at community events for Convoy of Hope

Grace Whalen

Grace Whalen

$3000 Scholarship
Grace is graduating from New Covenant Academy in Springfield, Missouri, and plans to attend Southwest Baptist University to study nursing. There she has been on the volleyball team and part of the cheerleading squad. She was inducted into the National Honors Society in 2024. She has also served as the Student Council Art Commissioner at New Covenant Academy. She has helped at Nixa Community Center in her spare time as a volleyball coach and referee, as well as assisting teachers with tutoring elementary students in the A+ Program.

Flinton Evans

Flinton Evans

$1,000 Merrell K. Cooper Memorial Scholarship
Flinton is graduating from Logan-Rogersville High School in Rogersville, Missouri, and plans to attend Missouri State University as a criminal justice major. He is a member of the high school concert band and marching band. He has also competed on the trapshooting team at the varsity level. He is also Vice President of the Rogersville National Honors Society Chapter. He is involved with his church youth group and volunteers at the Least of These Food Pantry in Ozark, MO.

Robocalls: What You Need to Know (and How to Stop Them)

Melanie Tarrant on June 17, 2025

Robocalls: What You Need to Know (and How to Stop Them)

Robocalls: What You Need to Know (and How to Stop Them)

Robocalls have become a persistent and disruptive part of everyday life. Whether interrupting dinner or breaking focus at work, these automated calls often come from unfamiliar numbers and deliver pre-recorded messages that sound urgent or enticing. While some serve legitimate purposes, such as appointment reminders or school notifications,  many are cleverly disguised scams.

These fraudulent robocalls frequently impersonate government agencies, banks, or well-known companies in an attempt to steal personal information or trick individuals into sending money. As technology evolves, so do the tactics scammers use, making it more important than ever to stay informed.

This guide outlines what robocalls are, why they pose a serious risk, and what steps can be taken to avoid becoming a victim. Understanding the threat is the first step toward staying protected.

Why Are Robocalls Dangerous?

Robocalls are dangerous because they often serve as the gateway to fraud, identity theft, or financial scams. While some robocalls are legal and harmless, many are crafted by scammers looking to deceive individuals into giving up sensitive information like Social Security numbers, bank account details, or passwords. Answering a robocall, even without speaking, signals to scammers that the number is active. This confirmation can lead to a dramatic increase in the volume of scam calls received. Worse yet, interacting with the call, such as pressing a number or speaking, may connect the person to a live scammer or trigger the recording of their voice for potential misuse. Some robocalls even attempt to manipulate individuals into downloading malware or visiting harmful websites. In short, responding to a robocall can expose individuals to further targeting and increase their risk of being scammed.

How to Spot a Robocall

Robocalls can be sneaky, but there are several telltale signs that help distinguish them from legitimate phone calls. Scammers often use pressure tactics, unrealistic promises, or vague details to catch people off guard. Recognizing the warning signs early can prevent a costly mistake. If a call feels suspicious, it’s always better to hang up and verify independently. Here are some common red flags to watch for:

  • Pre-recorded messages that start as soon as the call connects
  • Caller ID spoofing, where the number looks local or familiar but isn’t
  • Urgent threats, such as legal action or arrest warnings
  • Unsolicited offers that sound too good to be true (e.g., free vacations, prizes)
  • Requests for sensitive information, like your Social Security number or bank details
  • Demands for payment via gift cards, wire transfers, or cryptocurrency
  • Pressure to act immediately, discouraging you from asking questions or hanging up

Spotting just one of these signs is often enough to indicate a robocall and the safest response is to hang up without engaging.

How to Avoid Becoming a Victim of Robocall Scams

The best defense against robocall scams is a combination of awareness and prevention. Never answer calls from unfamiliar numbers, and if you do accidentally pick up, avoid speaking, pressing any keys, or following the caller’s instructions. Be especially wary of calls that claim urgency, offer prizes, or request payment via gift cards or wire transfers — all are common red flags. Use call-blocking tools provided by your phone carrier or third-party apps to help filter out unwanted calls. Registering your number with the National Do Not Call Registry at donotcall.gov is another proactive step. Most importantly, never share personal or financial information over the phone unless you are absolutely sure of the caller’s identity and have initiated the conversation.

How to Stop RoboCalls

  • Register with the National Do Not Call Registry
  • Visit donotcall.gov to add your number.

Use Call-Blocking Tools:

  • Built-in options from your carrier (AT&T Call Protect, Verizon Call Filter, etc.)
  • Apps like Hiya, Nomorobo, or Truecaller
  • Enable Phone Features

Here’s what some common codes do:

  • *67: Blocks your number (caller ID shows “Private”)
  • *61: Blocks the last call (landline feature)
  • *82: Unblocks caller ID if you’ve previously hidden it

Change Your Number (If Necessary)

This is a last resort but may help if you’re getting dozens of robocalls daily.

What to Do If You Think You’ve Been Scammed

If you believe you’ve fallen victim to a robocall scam, it’s important to act quickly but stay calm. Start by hanging up immediately to prevent any further interaction. Contact your bank or credit union right away,  especially if you shared financial information, so they can monitor your accounts and take steps to protect your funds. AGCU members should report any compromised details directly to the credit union for immediate assistance. Check your recent transactions for any unauthorized charges or suspicious activity. It’s also important to report the scam to the proper authorities: file a complaint with the FTC Complaint Assistant and submit a robocall report to the FCC. Lastly, don’t keep it to yourself,  warn friends and family so they can stay vigilant and avoid similar scams. Sharing your experience could save someone else from becoming a victim.

Steps:

  • Let others know. Share the scam with friends or family so they can stay alert.
 

Protect Your Identity, Protect Your Finances

At AGCU, we care about your financial security. If you believe you’ve been targeted by a phone scam, contact us immediately. We’ll help you secure your accounts and stay safe from fraud.

Final Thoughts

Robocalls aren’t just annoying — they’re dangerous. By staying informed and taking proactive steps, you can avoid being their next victim. Save this guide, share it with your loved ones, and stay safe.

 

RoboCall FAQ

Can a robocall hack your phone?

Not directly — but if you follow their instructions (like downloading an app or visiting a malicious site), you could expose your device to malware or data theft.

Scammers may record your voice and use it to authorize charges or impersonate your consent. Avoid answering with personal affirmatives.

It could be due to:

  • Leaked data from online services
  • Number spoofing (scammers pretending to call from local numbers)
  • Recycled phone numbers with a scam history

Not easily, but they can collect public data tied to your number and use it in social engineering attacks.

  • Don’t Answer Unknown Calls. If it’s a legitimate caller, they’ll leave a message.
  • Don’t Press Any Numbers. Even pressing “1 to be removed” confirms your number is active.
  • Don’t Call Them Back. This can expose you to premium rate scams or confirm your number.

No, but if you follow their instructions or give away personal data, they can exploit that info.

You signal that your number is active and potentially connect with a live scammer.

It may help temporarily, but scammers may eventually find the new number.

Only if your device is compromised. Never install unknown apps or grant unnecessary permissions.

AGCU Annual Business Meeting

Melanie Tarrant on May 20, 2025

2025 AGCU’s Annual Business Meeting 5pm Thursday, June 19 at Central Assembly of God 1301 N Boonville Ave, Springfield, MO 65802

Join Us for AGCU’s Annual Business Meeting – 5pm, June 19 at Central Assembly of God 1301 N Boonville Ave, Springfield, MO 65802

We’re inviting all AGCU members to be a part of something that matters: our Annual Business Meeting, taking place on Thursday, June 19 at 5 p.m. at Central Assembly of God, 1301 N Boonville Ave, Springfield, MO.

This is your opportunity to vote for board members, celebrate AGCU’s accomplishments over the past year, and help chart the course for our future. Together, we’ll make important decisions that impact our members, our mission, and the communities we serve.

Come early! Hors d’oeuvres will be served starting at 4:00 p.m.

As a special thank you, the first 75 voting members who RSVP and attend will receive a $20 gift card.

Your voice matters. Your vote counts.

RSVP TODAY!

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose More articles Like us on Facebook

How to Avoid Rental Scams

Melanie Tarrant on May 19, 2025

You just saw an ad for the perfect housing rental. It’s located in the neighborhood you want, the monthly rent is lower than you’ve seen anywhere else and the landlord doesn’t require a credit check. It sounds too good to be true!

It may well be. According to the Federal Bureau of Investigation’s 2021 Internet Crime Report there were more than 11,500 internet crimes related to real estate/rentals. 

Watch Out for Rental Property Scams: What You Need to Know

Navigating the rental market is already stressful enough—finding the right home, meeting your budget, coordinating a move. But the increasing prevalence of rental property scams adds an unfortunate layer of risk. Fraudsters are getting more sophisticated, creating fake listings, impersonating landlords, and inventing new ways to trick prospective renters out of their hard-earned money.

At AGCU, we care about your financial safety and want to help you recognize, avoid, and report these scams. Let’s take a closer look at how rental scams work and what you can do to protect yourself.

 

🚨 Common Rental Scams to Watch For

Fraudulent rental activity comes in several forms. Here are some of the most common schemes:

1. Bogus Listings

Scammers steal photos and descriptions from legitimate listings—or create completely fake ones—for properties that aren’t actually for rent (or don’t exist at all). These listings often feature beautiful photos, appealing amenities, and rent prices that are significantly below market. The scammer will claim to be out of town or otherwise unavailable to show the property and will pressure you to send a deposit or application fee sight unseen.

✅ AGCU Tip: If the deal seems too good to be true, it usually is.

2. Payment Redirection (Spoofing)

In this scam, fraudsters impersonate a legitimate landlord or property manager—sometimes by hacking into their email account or mimicking it with a similar address. They then convince the renter to wire or transfer the rent or deposit into a fraudulent account.

✅ AGCU Tip: Always verify payment instructions through a second source, such as a phone call or verified company website.

3. Overpayment Scam

This one targets landlords. A scammer pretending to be a tenant sends a check for more than the agreed rent and asks the landlord to refund the excess. The original payment is fake and will bounce, but the refund goes through—leaving the landlord with a financial loss.

✅ AGCU Tip: Never refund overpayments. If something feels off, hold the funds until they fully clear.

⚠️ Red Flags That Signal a Scam

Be alert to these warning signs:

    • Unrealistically Low Rent: Rent that’s much lower than comparable properties in the area is a bait tactic.

    • Pressure to Act Fast: If the “landlord” says they have multiple applicants and urges you to pay immediately, slow down.

    • No In-Person Meeting: Scammers avoid face-to-face interaction. They’ll make excuses or claim they’re out of the country.

    • Unusual Payment Methods: Requests for gift cards, cryptocurrency, peer-to-peer transfers (like Venmo or Zelle), or wire transfers are suspicious.

    • No Lease or Paperwork: A legitimate rental agreement should include documentation with clear terms, contact info, and your rights as a tenant.

 

🛡️ How to Protect Yourself from Rental Scams

1. Verify the Listing’s Authenticity
Use a reverse image search to see if the photos have been lifted from another listing. Cross-check the property on multiple platforms to confirm consistency.

2. Tour the Property
Always request an in-person tour—or at least a live video walkthrough. Scammers often provide pre-recorded videos or stall when asked to meet.

3. Research the Landlord
Look up the landlord’s name, the company’s contact information, and whether they’re listed with the county assessor’s office as the property owner.

4. Pay Securely & Wisely
Avoid paying before signing a legitimate lease. Use traceable payment methods like checks or direct bank transfers to verified accounts. Never send money via gift cards or cryptocurrency.

5. Get Everything in Writing
From rent terms to deposit details, ensure every conversation is followed up with documentation. If they avoid putting things in writing, that’s a red flag.

🆘 If You’ve Been Targeted or Scammed

If you believe you’re a victim of a rental scam:

    1. Contact AGCU Immediately
      We may be able to help recover or stop a transaction if it hasn’t been processed yet.

    1. File a Police Report
      Notify your local law enforcement agency and provide all details and communications.

    1. Report to the Authorities

        • Internet Crime Complaint Center (IC3) at ic3.gov

        • Listing Platforms (Craigslist, Zillow, Facebook Marketplace, etc.) to remove the fraudulent posting.

    1. Monitor Your Accounts
      If you shared sensitive personal or financial info, consider monitoring your credit or placing a fraud alert on your accounts.

 

💬 Stay Vigilant. Stay Informed. Stay Safe.

At AGCU, we don’t just help you manage your money—we help you protect it. If something seems suspicious or too good to be true, we’re just a call, message, or video chat away. Reach out before making a payment you’re unsure about. It’s always better to double-check than to risk your finances.

🔗 Need help?
📞 Call us at 866-508-AGCU (Monday–Friday, 7:30 a.m.–5:00 p.m. CT)
📧 Email us at info@agcu.org
📹 Or use secure Video Banking

 

 

Fraudsters are creative—but awareness is your strongest defense. Let’s continue to build a safe, smart, and fraud-free financial future together.Avoiding

If you’re ready to ditch renting and invest in a home of your own, AGCU is here to help. Our Mortgage Team understands the journey to homeownership and is ready to walk you through every step. From pre-approval to closing, we’ll help you find a loan that fits your life—and your dreams. Contact us today and let’s make home happen.

What is a HELOC?

Melanie Tarrant on April 30, 2025

Home Equity Loan vs. HELOC: What’s the Difference?

Home Equity Loan vs. HELOC: What’s the Difference?
One of the biggest perks of homeownership is the ability to build equity over time. You can use that equity to secure low-cost funds in the form of a second mortgage—either a one-time loan or a home equity line of credit (HELOC).

Home equity loans and HELOCs use the equity in your home—that is, the difference between your home’s value and your mortgage balance—as collateral. As the loans are secured against the equity value of your home, home equity loans offer extremely competitive interest rates—usually close to those of first mortgages. Compared with unsecured borrowing sources, such as credit cards, you’ll be paying less in financing fees for the same loan amount.

Home Equity Loans

A home equity loan, or second mortgage,  comes as a lump sum of cash. It’s an option if you need the money for a one-time expense, such as a wedding or a kitchen renovation. These loans usually offer fixed rates, so you know precisely what your monthly payments will be when you take one out. Learn about Second Mortgages here.

We offer a fixed rate option on our second mortgages with a maximum term of fifteen (15) years.
Several advantages of working with us on your loan:

  • Low closing cost
  • No pre-payment penalty
  • Retained servicing (excludes 30 year fixed)
  • Variety of payment options
  • Cash-out refinances on specific mortgage plans

What is a Heloc?

A HELOC is a line of credit that revolves – similar to a credit card – and can be used for large expenses, unexpected expenses, home remodeling, debt consolidation(1) or the like. Like a credit card, each time you repay some or all of the money used from the HELOC, your credit line is correspondingly replenished.

A HELOC is a secured loan in that you are borrowing against the equity that has been built in your house. Typically, lenders will let you borrow from 80 to 95 percent of your home’s equity.

When you obtain a HELOC, you are given a draw period, or length of time during which your line of credit will stay open. Draw times typically average 10 years. After the draw period is over, you enter into the repayment period, which for qualified members, we offer a great rate with a maximum term of fifteen (15) years.

AGCU offers HELOC’s in the following Missouri counties: Greene, Dade, Polk, Dallas, Webster, Christian, Stone, Lawrence, and Taney.

A HELOC Works by…

Borrowers can apply for HELOCs through AGCU’s Home Loan Center. The lender will assess the borrower’s home LTV (loan-to-value) ratio, as well as their income, credit score and other debt. Like a home loan, HELOCs – once approved – include closing costs.  A Mortgage and HELOC document checklist is available here.

HELOCs typically have a variable rate which, in large part, will be based on the current prime rate. This means that when rates rise – as they have been lately – the rate on a HELOC will rise accordingly. Even so, the rate on a HELOC is usually lower than credit card rates.

Once the HELOC has been approved, the borrower begins the draw period. During this time, any money borrowed from the line of credit is repaid each month by interest-only payments, which may mean a lower monthly payment. When the draw period is over, the borrower moves to the repayment period, during which time the monthly payment begins to include principal plus interest for any money borrowed, meaning the monthly payment may increase.

The Phases of HELOCs

Most home equity credit lines have two phases. First, a draw period, often 10 years, during which you can access your available credit as you choose. Typically, HELOC contracts only require small, interest-only payments during the draw period, though you may have the option to pay extra and have it go toward the principal.

After the draw period ends, you can sometimes ask for an extension. Otherwise, the loan enters the repayment phase. From here on out, you can no longer access additional funds, and you make regular principal-plus-interest payments until the balance disappears. Most lenders have a 20-year repayment period after a 10-year draw period. During the repayment period, you must repay all the money you’ve borrowed, plus interest at a contracted rate. Some lenders may offer borrowers different types of repayment options for the repayment period.

AGCU Home Loan Center

Every borrower is different, and we offer a variety of products to meet your requirements. We make the mortgage process simple and straightforward by offering the latest in financial tools that enable you to make sound financial choices. Whatever your real estate lending needs are, AGCU is here to help you navigate the process. Call our team of mortgage professionals at 866-508-2428(AGCU) or email us for more information.

KEY TAKEAWAYS

  • Home equity can be a great source of value for homeowners to access cash for renovations, large purchases, or alternative debt repayment.
  • Home equity loans and lines of credit are secured against the value of your home equity, so lenders may be willing to offer rates that are lower than they do for most other types of personal loans.
  • A home equity loan comes as a lump sum of cash, often with a fixed interest rate.
  • A home equity line of credit is a revolving source of funds, much like a credit card, that you can access as you choose.
  • Learn more about Home Equity Loans or Lines of Credit 

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU.
Learn More About Banking with a Purpose

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5 Reasons to Get Preapproved for a Mortgage

Melanie Tarrant on April 21, 2025

If you’re thinking about buying a home, getting preapproved for a mortgage might not sound like the most exciting part of the journey—but it’s one of the smartest moves you can make. Whether you’re a first-time buyer or a seasoned homeowner, a mortgage preapproval gives you clarity, confidence, and a competitive edge in today’s housing market. Visit our Home Loan Center to Apply Now!

Here are five compelling reasons why getting preapproved should be your first step:

5 Smart Reasons to Get Preapproved for a Mortgage

1. Know Exactly What You Can Afford

A preapproval helps you determine how much house you can comfortably afford based on your income, credit, and financial situation. Instead of guessing or relying on online calculators, you’ll get a realistic price range to focus your search and avoid falling in love with a home that’s out of reach.

2. Boost Your Bargaining Power

In a competitive market, preapproval gives you a serious advantage. Sellers and real estate agents are far more likely to consider an offer from a buyer who already has financing lined up. It shows you’re prepared, committed, and financially capable—which can make your offer stand out in a sea of hopeful buyers.

3. Speed Up the Homebuying Process

When you’re preapproved, much of the paperwork is already taken care of. That means once your offer is accepted, you can move faster through the mortgage process. In a hot market, every day counts—and preapproval can save you valuable time.

4. Avoid Surprises Later

A preapproval includes a full review of your credit report, income, and financial situation. That means you’ll uncover any potential red flags early—before they can slow down your loan approval or derail your homebuying plans. It’s a proactive way to prevent unexpected bumps in the road.

5. Shop with Confidence

Knowing your preapproved amount brings peace of mind. You can house-hunt with purpose, avoid unnecessary stress, and make decisions with confidence. Plus, it’s an empowering step that shows you’re ready to move forward when you find the right home.

Getting preapproved for a mortgage isn’t just a smart financial step, it’s a powerful move that sets you up for success in today’s competitive housing market. From knowing your budget to gaining an edge with sellers, preapproval empowers you to shop with confidence and act quickly when you find the right home.

Ready to Get Started?

At AGCU, we make the preapproval process simple, secure, and stress-free. Our mortgage team is here to walk you through every step. Click Here to start your preapproval today and take the first step toward finding your dream home:

Download our FREE Mortgage Checklist

 

Getting preapproved for a mortgage isn’t just a smart financial step, it’s a powerful move that sets you up for success in today’s competitive housing market. From knowing your budget to gaining an edge with sellers, preapproval empowers you to shop with confidence and act quickly when you find the right home.

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

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Frequently Asked Questions About Mortgage Pre-approval

How far in advance should I get preapproved for a mortgage?

It’s best to get preapproved for a mortgage at least 1–3 months before you start house hunting. This gives you time to understand your budget, correct any issues on your credit report, and position yourself as a serious buyer when making an offer.

What is the minimum credit score to buy a house in Missouri?

Most lenders in Missouri look for a minimum credit score of 620 for conventional loans. However, government-backed loans like FHA may allow lower scores. AGCU works with members to find the right mortgage option based on their unique financial situation.

Does getting preapproved hurt your credit?

A mortgage preapproval typically involves a hard inquiry on your credit report, which may cause a small, temporary dip in your credit score. However, this impact is usually minimal and well worth the benefits of being preapproved when house hunting.

Will I lose my deposit if I am denied a mortgage?

You could lose your earnest money deposit if you’re denied a mortgage; especially if your purchase contract doesn’t include a financing contingency, which protects you in case your loan falls through. Without this safeguard, a denied loan could mean walking away from a home and your deposit.

That’s why getting preapproved before making an offer is so important. A mortgage preapproval gives you a clearer picture of what you can afford and shows sellers you’re a serious, qualified buyer. It also reduces the risk of loan denial after your offer is accepted. At AGCU, our preapproval process helps set you up for a smoother, more secure homebuying experience from day one.

AGCU Names Peter Shiner as New President & CEO

Melanie Tarrant on April 7, 2025

Springfield, Mo – April 7, 2025– The Assemblies of God Credit Union (AGCU) is pleased to announce the appointment of Peter Shiner as its new President and Chief Executive Officer. With over 15 years of leadership experience in federally insured credit unions and community banks, Shiner brings a strong background in strategic financial management, regulatory compliance, and capital markets expertise.

Shiner joined AGCU as Senior Vice President and Chief Risk Officer. His leadership has played a crucial role in strengthening AGCU’s positioning for long-term growth.

“I am honored to serve as AGCU’s next President and CEO,” said Shiner. “and I look forward to building a high-performing team that understands the power of relationships and values our members’ trust. Together, we will continue to expand our services, embrace new opportunities, and remain a faith-driven financial partner for our members.”

Peter and his wife, Whitney, along with their three young children, are excited to make Springfield their home. They look forward to becoming part of the community and embracing AGCU’s mission of serving members with integrity and care.

Prior to AGCU, Shiner held leadership positions at Performance Trust Capital Partners, First Entertainment Credit Union, and Academy Securities, where he advised executive teams and boards on risk management, investment strategies, and institutional growth. He has overseen multi-billion-dollar loan and fixed-income portfolios, executed over $6.5 billion in asset allocation strategies, and played a pivotal role in enhancing financial institutions’ balance sheet flexibility and growth.

“We are excited to welcome Peter Shiner as our new President and CEO,” said Bill Perkin, treasurer of the AGCU board of directors. “His strategic vision, deep financial expertise, and commitment to faith-based financial services make him the ideal leader to guide AGCU into the future. We look forward to his leadership as we continue to grow and serve our members with excellence.”

Shiner holds an MBA from Azusa Pacific University and a BA from Wheaton College. A former NCAA baseball athlete and Eagle Scout, he brings a disciplined, results-driven approach to leadership.

As CEO, Shiner will focus on expanding AGCU’s financial services, strengthening member engagement, and ensuring the credit union remains a trusted partner for churches, ministries, and individuals seeking financial solutions aligned with their values. 

For more information, visit www.agcu.org.

What is Banking With a Purpose?
Banking with a Purpose at AGCU goes beyond traditional financial services. It is about connecting your faith, family, and finances. Our mission is to improve the lives of our members by providing financial solutions for individuals, ministries, and businesses related to the Assemblies of God fellowship.

Our commitment includes giving back to the community. Each year, we tithe 10% of our annual earnings to support various initiatives, ranging from church planting, ministries and humanitarian projects to educational advancements and scholarships. Join us at AGCU and see how Banking with a Purpose can make a difference in your life and community.

Honoring Bruce Webb’s Leadership & Legacy at AGCU

Melanie Tarrant on April 2, 2025

After a decade of dedicated leadership, Bruce Webb is retiring as President & CEO of Assemblies of God Credit Union (AGCU) in Springfield, MO, Friday, April 4, 2025. His impact on our credit union and its mission has been profound.

Bruce joined AGCU in 2015, bringing 30 years of banking experience from Michigan and Minnesota, along with 40 years of involvement in the Assemblies of God fellowship. Upon arriving, he redefined AGCU’s vision: “To be the most relevant faith-based credit union in the world.” Over the past ten years, AGCU has lived out this vision, serving more than 18,000 members—including over 2,300 missionaries in 190 countries—while remaining deeply connected to the Assemblies of God fellowship.

“Bruce Webb’s leadership over the past decade has transformed AGCU, driving growth, innovation, and a stronger commitment to faith-based financial stewardship,” said Bill Perkin, treasurer, AGCU board of directors. “His vision and dedication have modernized our services and expanded our impact, leaving a lasting legacy. We are deeply grateful for his leadership and the foundation he has built for AGCU’s future.”

Under Bruce’s leadership, AGCU has reached remarkable milestones:

Growth & Expansion

  • Tripled in size, becoming the largest credit union in the greater Springfield, MO area
  • Ranked among the Top Five largest faith-based credit unions in the country
  • Named Missouri’s fastest-growing credit union in 2022 and ranked in the Top 1% of fastest-growing credit unions nationwide
  • Expanded membership eligibility from five states to all 50 states for Assemblies of God church adherents
  • Achieved an average 6% annual membership growth

Financial Strength

  • Recognized as one of the Top 100 Best Performing U.S. Credit Unions of 2022 by S&P Global Market Intelligence
  • Increased total deposits by 155% and loan balances by 245%
  • Grew revenue by 223%, capital by 125%, and net income by 373%

Community Impact & Mission Advancement

  • Donated over $2.5 million to education, ministry, and humanitarian causes
  • Became the second-largest PPP loan originator among Missouri credit unions (2020-2021)
  • Mortgage lending team ranked among the Top 10 in Springfield, MO
  • Expanded commercial, business, and church lending from $10 million to over $110 million

Innovation & Modernization

  • Introduced Video Banking, allowing members to connect via mobile, computer, or in-branch
  • Completed a full rebrand, including a new logo, bold new colors, and a refreshed tagline to reflect our mission and to strengthen our brand
  • Renovated all AGCU buildings, enhancing both exterior and interior spaces
  • Completed a banking software upgrade that added convenience and security for mobile and online users

Bruce’s vision and leadership have left an enduring legacy, ensuring a strong foundation for AGCU’s future. While he and his wife, Kimberley, will remain in Springfield, they look forward to spending more time with family—especially their four grandsons in southern Michigan.

Please join us in thanking Bruce for his years of service and leadership. We are deeply grateful for his impact on AGCU and the communities we serve.

With gratitude,
The AGCU Family

Budgeting Basics: Take Control of Your Money (and Your Future)

Melanie Tarrant on March 31, 2025

Budgeting doesn’t have to be overwhelming. Whether you’re just starting college, entering the workforce, or navigating life on your own, learning how to manage your money is key to financial success. In this guide, we’ll walk you through budgeting basics, practical money tips for young adults, and how AGCU’s financial tools—like high-yield checking, savings accounts, and digital banking—can help you stay on track.