Frequently Asked Questions (FAQs)
We’ve partnered with InvestiFi* to provide you with anexciting new investment portal and a user-friendly, secure way to start building a portfolio to pursue your financial goals –all within your existing online banking experience! You can buy, sell and hold cryptocurrencies with no additional apps to down
What is a digital asset?
A digital asset is anything stored digitally that is uniquely identifiable, and can be used to store value, or represents ownership. Cryptocurrency is one form, but other types include non-fungible tokens (NFTs), digital art, or tokenized real estate.
What is cryptocurrency?
Cryptocurrency, also known as "crypto," is a decentralized digital currency secured by cryptography—advanced mathematical algorithms that protect data and transactions. You likely encounter cryptography daily in the form of secure passwords on your devices.
Unlike fiat currencies like the U.S. Dollar, crypto isn't issued or controlled by a central authority. It's managed by open networks of computers that maintain a shared ledger, known as a blockchain. These computers validate transactions and earn rewards for doing so, with consensus required from the majority consensus to add transactions to the blockchain. The more participants involved, the greater the security.
Anyone with internet access can participate in crypto, regardless of location, government restrictions, or credit history. Transactions are irreversible and recorded on a public blockchain, promoting transparency and global equity. However, not all cryptocurrencies have a finite supply—some, like Bitcoin, do–which some view as an inflation hedge. Others, like Ethereum, use mechanisms to control issuance.
Many view major cryptocurrencies like Bitcoin and Ethereum as alternatives to traditional money, although their adoption faces challenges–including volatility and regulatory issues.
Can I trade securities on stock market holidays, bank holidays, and stock market half-days?
No, securities trading will be closed for the following US market holidays. You won’t be able to trade on these days.
US Market Holidays:
New Year’s Day
Martin Luther King, Jr. Day
President’s Day and Washington’s Birthday
Good Friday
Memorial Day
Juneteenth
Independence Day
Labor Day
Thanksgiving Day
Christmas
Bank Holidays:
Banking holidays may affect settlement times and cash transfer times.
US Stock Market Half-Days:
Stock market trading will close at 1 PM ET on the following upcoming US market half-days:
Day before Independence Day
Day after Thanksgiving
Day before Christmas
What is digital investing?
Digital investing gives you the ability to shape your financial future directly within SOCU Online Banking. You can access tools to trade cryptocurrencies, stocks, and ETFs from your desktop or mobile device—making it easy to get started and stay engaged.
Who is InvestiFi?
InvestiFi is a fintech company founded in 2020 with a mission to make investing more accessible. Investment advisory services are provided through AdvisiFi, LLC, a registered investment advisor. Brokerage services are provided by InvestiFi Securities LLC, a registered broker-dealer.
What is the relationship between Streator Onized Credit Union and InvestiFi?
Streator Onized Credit Union has partnered with InvestiFi to integrate digital investing directly into Online Banking. This allows you to access InvestiFi’s tools and educational resources, and invest directly from your SOCU account without using a third-party app.
Can anyone invest?
No. Only account holders who are at least 18 years old and in good standing with Streator Onized Credit Union are eligible to invest. Commercial accounts are not supported. Some state restrictions may apply.
Can I invest in both cryptocurrencies and traditional investments?
Yes. The platform allows you to buy, sell, and hold cryptocurrencies, stocks, and ETFs—all within SOCU’s Online Banking experience.
How do I fund my investments?
You can fund your investments directly from your SOCU checking account. This eliminates the need to transfer funds to an external platform and provides quick access to investment opportunities.
Do I need to download another app?
No. All investing tools are built directly into SOCU Online Banking, so there is nothing additional to install or manage.
What level of security does InvestiFi provide?
InvestiFi maintains SOC 2 compliance, an industry-standard certification for data security. Security measures include:
- Network and application penetration testing
- Continuous monitoring of security controls
- Encryption of data both in transit and at rest
- Secure software development practices
- Ongoing employee security training
Is my investment account held at SOCU?
No. Brokerage and advisory accounts are not held directly by Streator Onized Credit Union. They are held with AdvisiFi, InvestiFi Securities, or their clearing partners, depending on the type of investment.
Does InvestiFi replace SOCU’s investment advisors?
No. The InvestiFi platform is intended to expand access to digital investing tools. For more personalized advice or additional services, continue working with Streator Onized Credit Union’s existing investment resources.
What are the benefits of investing through SOCU?
- Invest directly from your checking account
- Manage all financial accounts in one place
- No need for third-party applications
- User-friendly platform for all experience levels
- Start investing with small amounts
Are there educational resources available?
Yes. The platform includes educational tools to help you better understand investing concepts, whether you are new to investing or more experienced.
What should I consider before investing?
You should carefully evaluate your financial situation, risk tolerance, and investment goals. Investments, especially cryptocurrencies, can fluctuate in value and may not be suitable for all individuals.
Does the platform support cryptocurrency transfers to external wallets?
No. For security and regulatory reasons, cryptocurrency transactions must remain within the platform and cannot be transferred to external wallets.
How do I get started?
Log in to SOCU Online Banking, navigate to the investment section, accept the terms and conditions, and begin exploring investment options.
What is a stablecoin?
A stablecoin is a form of cryptocurrency that aims to keep its value steady relative to an asset like the U.S. dollar, gold, or another digital currency. This stability is maintained through methods such as holding reserves of the underlying asset or using algorithms that regulate the supply based on market conditions.
What fees will I be charged?
The following table shows the minimum investment amounts and associated fees.