FAQ

Loan Payments from an External Source FAQ

• When will my payment(s) post?
  

  Payment(s) will be posted the next business day before the Credit Union opens for regular business. If paying via ACH ¹ , your payment may take 2-5 business days to post. Please consider this when scheduling your payment using ACH.

• What is the fee for making a payment?
  

  Fees vary depending upon the method used to make your payment:

  • When making an on-time payment via ACH ¹ through eBranch, there is no fee.
  • When making an on-time payment via ACH ¹ through our online payment system, there is no fee.
  • When making an on-time, over-the-phone agent-assisted payment with your debit card, there is a $7.50 fee.
  • When making an on-time, over-the-phone payment with your debit card using our automated phone system, there is a $4.95 fee.

  To make a loan payment with your debit card over the phone with either an agent or using the automated phone system, please call 888.252.8932 and follow the prompts. Additional fees may apply for late payments.

• Can I make more than one payment at a time?
  

  Yes, but not as a single transaction. For example, if you wanted to make your normal payment and then make an additional payment just to the principal, it would be best to process them as separate transactions, regardless of the method you are making your payment.

• What do I need to make my payment?
  

  When making an ACH ¹ payment from an external financial institution, you need the routing/ABA# and account number. If you are making the ACH ¹ payment from inside of eBranch online banking, you can either set up a connection to the external account manually or via your online banking credentials from the other institution. 

  You will need your debit card when making your payment over the phone.

• Can I set up recurring payments?
  

  Yes.

• Can I pay off my loan?
  

  Interest is added daily to your loan. Please call our call center at 888.252.8932 or visit a branch to ensure the correct payoff amount.

• Who can make payments?
  

  Only primary and joint owners listed on the loan(s) can make payments.

• Can I pay less/more than the minimum due?
  

  Yes, however, paying less than the minimum amount due will still leave a balance due on the regular due date. Partial payments are not allowed for Mortgages, and if the amount paid is less than the normal amount due for the mortgage, it is applied as a principal-only payment instead of a partial payment.

• What is the maximum amount I can pay?
  

  Each system varies in the maximum amount it can process.

  • When making an on-time payment via ACH ¹ through eBranch, the default maximum incoming payment amount is $3,000. This may vary per member. This service is only available to members in good standing ² . Fresh start members are not eligible for this service.
  • When making an on-time payment via ACH ¹ through our online payment system, there is a maximum payment amount of $2,500.
  • When making an over-the-phone agent-assisted payment with your debit card, there is a maximum payment amount of $5,000, including any fees.
  • When making an over-the-phone payment with your debit card using our automated phone system, there is a maximum payment amount of $5,000, including any fees.

  To make a loan payment with your debit card over the phone with either an agent or using the automated phone system, please call 888.252.8932 and follow the prompts. 

• What types of loans can I pay?
  

  Different payment systems can handle different payment requests.

  • When making a payment via ACH ¹ through eBranch, there is no fee; you can directly pay your auto loan, recreational vehicle loan, personal loan, business loan, overdraft line of credit, or home equity line of credit from an external account. When making a mortgage, home equity loan, Visa® Emerald Card, or Business Card payment, the payment must first be transferred into your savings or checking account, and then the payment must be made to your loan as an internal transfer.
  • The same process applies when making an over-the-phone agent-assisted payment with your debit card as with eBranch.
  • When making a payment via ACH through our online payment system or making an over-the-phone payment using your debit card using our automated phone system, you can only make payments to your auto loan, recreational vehicle loan, personal loan, business loan, overdraft line of credit, or home equity line of credit.
• How will I know if my payment has gone through?
  
  • When making a payment via ACH ¹ through eBranch, you can set up transaction alerts to understand when the transfer has occurred.
  • When making an on-time payment via ACH through our online payment system, a confirmation will be emailed to you.
  • When making an in-person or over-the-phone agent-assisted payment using your debit card, you may request an eReceipt be emailed to you for confirmation.
  • When making an over-the-phone payment using your debit card using our automated phone system, it is recommended that you check your online transaction history within 2-5 business days to confirm the posted payment.
• When will funds be removed from my external account?
  

  Funds can take 2-5 business days to process when transferring from an external institution.

• Can I pay with a debit/credit card?
  

  While you may pay with a debit card, credit cards are not accepted.

  To make a loan payment with a debit card, please utilize one of the options below:

  • Make an over-the-phone, agent-assisted payment with your debit card. There is a $7.50 fee. 
  • Make an over-the-phone payment with your debit card using our automated phone system. There is a $4.95 fee.

  Additional fees may be incurred for late payments.

• Is there a cutoff time to when payments are processed?
  

  Processing times differ depending upon the service used:

  • When making a payment via ACH ¹   through eBranch, payments scheduled by 3:59 PM will be processed with the following business date. They will take between 2-5 business days to post.
  • When making a  payment via ACH ¹ through our online payment system, payments must be made by 8:00 PM to post the next business day before the Credit Union opens. Payments after 8:00 PM will be processed within two business days.
  • When making an in-person or over-the-phone agent-assisted on-time payment using your debit card, payments post immediately.
  • When making an over-the-phone on-time payment using your debit card using our automated phone system, payments must be made by 8:00 PM to post the next business day before the Credit Union opens. Payments after 8:00 PM will be processed within two business days.

• What if I need to stop my payment after it is processed?
  

  You must contact the financial institution where the payment came from to discuss stop-payment options.

• What if I forget my username/password for the online loan payment system?
  

  When using the online loan payment system, your username will always be your email address. Please select "forgot password," and an email will be sent with password reset instructions.
  

SmartDeposit FAQ

• Are there any limits for the amount that can be deposited?
  

  Yes, there are default limits for SmartDeposit:

  Consumer Members
  Daily: Two checks per day with a total dollar amount of $2,000
  Monthly: Twenty checks per month with a total dollar amount of $20,000

  Business Members
  Daily: Five checks per day with a total dollar amount of $10,000
  Monthly: Twenty checks per month with a total dollar amount of $20,000

  Members may request higher (or lower) limits but must be a member in good standing ² . Their account will be reviewed, and other restrictions may apply. 

• What kind of checks will HFCU accept through SmartDeposit?
  

  SmartDeposit will accept the following types of checks:
  • A personal check (Share Draft)
  • Payroll check
  • Money Order
  • Traveler’s Check
  • Certified Check

• Are there any checks HFCU will NOT accept through SmartDeposit?
  

  Yes, there are several types of checks that SmartDeposit will not accept:
  • A third-party check, i.e., any item that is made payable to another party and then endorsed to you by such party
  • An item drawn on your personal account at HFCU Credit Union
  • An item that contains evidence of alteration to the information on the check
  • Any check previously converted to a "substitute check" as defined in Regulation CC
  • An item issued to you by a financial institution in a foreign country
  • Cashier's Check
  • Remotely Created Check
  • An item that is stale, dated/expired, or postdated
  • Any item that is "non-negotiable"
  • Items that have been re-deposited or returned, such as NSF, or refer to maker, or returned for any other reason
  • Any incomplete item
  • Cash
  • Saving Bonds

• How do I endorse my check for Smart Deposit?
  

  Endorsements that MUST be on the back of a check deposited through Smart Deposit:
  • Your Signature
  • "For Deposit Only"
  • Your Account Number
  • "Heritage Family Credit Union"

• How long should I hold onto my deposited checks for?
  

  Members should hold onto checks deposited via SmartDeposit for six months.