Frequently Asked Questions (FAQs)
- Accounts | Certificates
- Accounts | Checking
- Accounts | Club Accounts
- Accounts | Direct Deposit
- Accounts | IRA
- Accounts | Money Market
- Accounts | Savings
- e-Services | Bill Payer
- e-Services | Check Card & ATM Card
- e-Services | e-Statements
- e-Services | Phone Banking (PAT)
- Financial Services
- Loans | Credit Cards
- Loans | Home Equity Loans & Lines of Credit
- Loans | Loan Process
- Loans | Personal Loans & Lines of Credit
- Loans | Vehicle Loans
- Mobile Banking | AnytimeDeposit
- Mobile Banking | Bill Payer Mobile
- Mobile Banking | FMFCU Mobile+
- Mobile Banking | Person-to-Person (P2P)
Accounts | Certificates
What is the minimum deposit amount required?
$500. $250 for members under the age of 18.
When are the dividends distributed?
Monthly or quarterly, depending upon the length of term. Systematic credits or dividend check options are also available.
Accounts | Checking
Do I have to open a checking account when I join FMFCU?
No, but to benefit from other services like direct deposit and our Premier Check Card it would be beneficial to you. Plus, our standard checking is FREE.
Why is there a difference between my balance and the available balance?
There may be checks on hold that have been deposited or Point-of-Sale transactions may be on hold until the actual transaction is processed.
Where do I find the account number I need for direct deposit?
This information may be found on the MICR line on the bottom of your check.
Accounts | Club Accounts
Accounts | Direct Deposit
Can I have any check directly deposited to my account?
No, please consult your employer for more information.
When will my funds be available?
It depends if your deposit is electronic or manual. Consult your employer to find out.
What is your ABA Routing & Transit Number?
The ABA Routing and Transit Number is : 231382306
This number can be found at the bottom of your checks. It is the first set of 9 digits from the left.
Accounts | IRA
Are there age restrictions for SEP participation?
An employer is not required to include an employee who is under 21 years old. There is no upper age restriction.
Can a SEP participant also contribute to a deductible IRA or a Roth IRA?
It’s very likely that a SEP participant may also contribute to a Traditional or Roth IRA. Check with your financial advisor for income restrictions.
Can a self-employed person establish and fund a SEP for himself or herself?
Yes. The contribution limit is the lesser of 25% of net operating income or $55,000.
What is the deadline for establishing and funding the SEP?
The plan must be established and the contributions completed by the employer’s tax-filing due date, plus extensions.
Can SEP contributions be deposited into a Roth IRA?
No, but the employee participant may convert the SEP IRA into a Roth and pay the tax due on the conversion.
How much of the employer’s SEP contribution is tax-deductible?
All eligible employees of the small business owner must receive a SEP contribution representing the same percentage of compensation. The percentage is determined by the business owner each year and may be as much as 25% or as little as zero. An employer may exclude employees who:
- are under age 21
- have not worked at least 3 of the preceding 5 years for the employer
- earned less than $450
- are part of a collective bargaining agreement
- are nonresident aliens
How much can be contributed to a SEP IRA?
A SEP allows a self-employed person to contribute more to a retirement account than the current limits on 401(k) and IRA.
If a small business owner allocates a specific amount of cash flow to salaries, the maximum SEP contribution is 25% of each employee’s compensation, up to $55,000.
The same limits on contributions made to employees’ SEP-IRAs also apply to contributions if you are self-employed.
There is no upper age limit on participation in a SEP.
How is a Simplified Employee Pension (SEP) funded?
The employee opens a Traditional IRA, to which employer contributions are deposited. Contributions are never withheld from pay or made by employees (other than the self-employed person). Contributions are not given directly to the employee but are sent to the employee’s IRA custodian. The employee is immediately and fully vested.
How can I contribute to a Roth IRA?
You can make your full contribution in one deposit or you can make smaller deposits. If your employer is willing to make payroll deductions, you can even contribute weekly or monthly.
Are there income limits to participate in a Roth IRA?
For 2018, you can make the full contribution if you are married with a combined adjusted gross income up to $189,000 or single with an adjusted gross income up to $120,000. Partial contributions are allowed for couples with a combined income filing jointly up to $199,000 and up to $135,000 for a single individual.
When can I begin to access my funds?
With a few exceptions, you cannot tap into the funds until age 59 1/2 (without a penalty).
What’s the most I can invest in a Traditional IRA or Roth IRA?
Your total contribution to all of your Traditional and Roth IRAs cannot be more than $5,500 ($6,500 if you’re age 50 or older) or more than your taxable compensation for the year.
Is a Traditional IRA tax deductible?
Yes, but not always. Consult your tax advisor.
Accounts | Money Market
Is there one dividend rate for the account?
No, it is a tiered account. As your balance rises, so does the rate.
Can I access my account through the ATM?
Yes, if you have a Premier Check Card and selected this option.
Can I access the funds whenever I want?
Accounts | Savings
- Do you have accounts for children?
Can I have more than one savings account?
Yes, you may establish as many as you’d like.
e-Services | Bill Payer
Can I cancel the Expedited Bill Payment?
No. Due to the nature of the service, once you make the payment the transaction cannot be canceled. This differs from a standard payment in that there is no processing time, hence the term Expedited Bill Payment.
Can a stop payment be placed on an Expedited Bill Payment?
A stop can be taken only if the item was sent as an overnight check. You will need to contact the branch or Member Service Center to place the stop payment.
Will my statement look different with an Expedited Payment?
Depending on how the payment was sent, it could. With Overnight Check Payments, Expedited Bill Payment is creating a check with your 10-digit account number appearing on the bottom of the check. The timeframe for the check to clear the account depends on the Payee cashing the check. Also, the overnight check will have a different check number on the top right-hand corner of the check.
What is the different between the Immediate Electronic and Overnight Check Payment?
Same-day Electronic Payment may be made to a select payee. The payee must be already set up to accept electronic payments.
Overnight Delivery of a check to any payee, the member will be able to track the delivery of the check. The physical check will have the member’s 10-digit account number on the bottom of the check.
Is there a fee for Expedited Bill Payment?
Yes, based on the method of delivery, Expedited Bill Payment will charge a fee to the checking account, as a separate transaction.
- Electronic Payments:$10.00
- Overnight Check Payments: $15.00
Is it easy to set up?
Absolutely. Once you add your payees (name, address, phone number) it’s so easy to use, you’ll never want to do it any other way. Plus, you save on stamps and time.
What bills can I pay?
Almost any bill! Excluded merchants are governmental agencies (including but not limited to federal, state and local taxing authorities), collection agencies, as well as the recipients of court-ordered payments such as child support and alimony. Payments to any persons or organizations outside the US are also excluded.
Is there a charge to use the Bill Payer service?
It is absolutely free, but there is a fee for dormancy.
e-Services | Check Card & ATM Card
Is the Premier Check Card (debit card) linked with a credit card company?
No, it carries the logo of the credit card the financial institution uses, but only affects your Checking Account since that is where the funds are withdrawn from. The VISA® symbol simply means you can access your money wherever you see the VISA logo.
When I make a withdrawl using my Premier Check Card, where does the money come from?
If it is a Point-of-Sale transaction, it will come from your checking account. If you are using it at an ATM machine, you may designate checking, savings, or your line of credit if you have preselected these options.
How can I avoid ATM fees?
Use FMFCU-owned ATMs whenever possible or use your Premier Check Card at VISA locations.
e-Services | e-Statements
What do I do if I’m having trouble viewing my statement?
Recent changes to your operating system software such as upgrades, downloads, and/or system enhancements can affect your PC’s ability to connect with secure sites, including our e-Statement site.
We recommend trying the following steps:
- Verify that you are current on all system updates
- Un-install and re-install Adobe Acrobat Reader
- Ensure that you are using the most up to date version of your browser
- Some pop-up blocker and firewall programs may prevent access to e-Statements. If you utilize these types of applications, you may need to disable certain features of the programs in order to access your e-Statements
What do I do if my email address changes?
You can provide your new email address to FMFCU by updating your email address within e-Banking. Changes that you make in e-Banking will be carried forward and will be used for all notification emails.
What if I have multiple member numbers?
e-Statements are linked to the individual member number and are able to be accessed via a link within e-Banking. To view statements, you will need to establish a login for each unique membership.
How long will my statement be available to view?
e-Statements will generally remain available for viewing for 24 months after they have been posted.
Can I print my statement out?
You can print your statements, and you can also save them to your hard drive, diskette, or CD.
How will I know when I can view my statement?
You will receive an email notification whenever a new statement is available for viewing.
How can I register my membership for e-Statements?
You do not need to take any additional action to register. As an e-Banking user, you are automatically registered for e-Statements and can access them without logging into a second website. If you are viewing an established membership, your previous statements will be available to you within 3-5 business days. If you are a new member, statements will become available within 3-5 days of your next scheduled statement date.
Does it matter what browser I use to access the website?
Any up-to-date browser should work. We would recommend using the latest versions of Microsoft Internet Explorer, Google Chrome, Firefox, or Safari.
Do I need any special software to use the e-Statement service?
If you have Adobe Reader on your computer, you’re all set. If you do not have Adobe Reader, you can click here to download from Adobe’s web site.
e-Services | Phone Banking (PAT)
When is it available to use?
24-hours a day, 7 days a week.
What is my account ID number to use this service?
Please call our Member Service Center at 610-325-5100 (Outside PA, 800-220-3193).
What is the phone number?
610-325-5100 or for callers outside the Pennsylvania area, 800-220-3193.
How do I contact a Financial Advisor and make an appointment?
Visit the Financial Services Team page. Here you can call or email one of our Registered Representatives.
Loans | Credit Cards
How do I access my credit card accounts?
You can visit the online center to perform a variety of functions including checking your up-to-the-minute balance.
Are there extra benefits associated with FMFCU credit cards?
There are many benefits with our VISA®, MasterCard®, and American Express® cards. For a listing of all of these benefits, please visit our credit card section.
Loans | Home Equity Loans & Lines of Credit
Is the home equity line of credit rate variable or fixed?
It is a variable rate.
What is the difference between a home equity line of credit and a home equity (second mortgage) loan?
A home equity line of credit is a flexible account that allows for repeated borrowing without having to re-apply each time. A more traditional second mortgage loan provides you with a fixed amount of money repayable over a fixed period. Usually, the payment schedule calls for equal payments that will pay off the entire loan within that time. You might consider a traditional second mortgage loan instead of a home equity line if, for example, you need a set amount for a specific purpose, such as an addition to your home.
In most cases, a recurring need for funds suggests the need for a home equity line of credit. A good example of this is tuition payments.
What is a Home Equity Line of Credit?
A home equity line is a form of revolving credit in which your home serves as collateral. Because your home is likely to be your largest asset, you may want to use your credit line for major items such as education, consolidation, financing an education, planning a wedding, or home improvements and not for day-to-day expenses.
With a home equity line, you will be approved for a specific amount of credit — your credit limit — meaning the maximum amount you can borrow at any one time while you have the home equity line of credit. Many lenders set the credit limit on a home equity line by taking a percentage (say, 85 percent) of the appraised value of the home and subtracting the balance owed on the existing mortgage.
- Appraisal of home:
- Percentage of appraised value:
- Less mortgage debt:
- Potential credit line:
- x 85%
- $ 85,000
- -$ 40,000
- $ 45,000
In determining your actual credit line, the lender also will consider your ability to repay, by looking at your income, debts, and other financial obligations, as well as your credit history.
Our home equity line of credit has a set fixed time during which you can borrow money, which is 10 years. The following 20 years only permit you to repay the outstanding balance. You will need to refinance the home equity line of credit if you want to borrow funds after the initial 10 year period. Once your home equity line of credit has been established, you will be able to borrow up to your credit limit whenever you want. You will be able to draw on your line by advancing funds into your regular checking account.
Is the interest tax deductible?
With the new 2018 tax laws, interest may not be tax deductible any longer. Please check with your tax advisor or consult IRS publications.
Is the rate variable or fixed?
It is a fixed rate.
How does it work?
Usually, you take out a home equity loan for an existing or current need — such as renovating your home, replacing a roof or constructing an addition. The interest rate and payments are fixed, so you know just how much to budget for repayment, and the term can be as long as 20 years.
Home equity loans can also be used to pay for tuition or to consolidate high-interest debt and lower monthly payments. Used correctly, a home equity loan can be an excellent financial tool. Talk to us about it.
Why should I consider taking out a Home Equity Loan?
It’s a way to use the equity in your home to make improvements and make your home more livable for you. Check with your tax advisor on deductibility of interest.
Loans | Loan Process
What three things will the Lender look at when approving my Loan?
- Credit. Credit refers to your payment history as shown on your credit report. Lenders look to see that you have paid your bills on time. Credit history is a key measure of character and helps determine whether you will be approved for loans as well as what rate you will pay.
- Collateral. Collateral is a tangible asset such as real estate or a vehicle that is pledged to secure a loan. The existence of collateral reduces the lenders risk and usually results in lower rates for the borrower.
- Capacity. Capacity is your ability to repay your obligations plus the new credit applied for. This is measured by your debt-to-income ratio. It is calculated by taking your total monthly debts and dividing by your gross monthly income.
What is a conditional approval?
A conditional approval is an approval given based on the information provided on the application. A final approval is given based on verified information and may differ from the original conditional approval.
How long does the process take?
Our goal is to process the loan request as quickly as possible. The majority of our auto loans are decisioned within one hour. There are circumstances that prohibit this goal, but you will get an answer within 24 business hours of applying. We strive to conditionally approve home equity loans within one hour. Loan closings can usually occur within a week.
Loans | Personal Loans & Lines of Credit
What does the word “line” mean in line of credit?
A line of credit is revolving; therefore, as you make payments it replenishes itself.
What can I use a personal line of credit of?
Any worthwhile purpose. Use this account to consolidate debts, for a vacation, school tuition, overdraft protection, etc.
Will you run a credit check on me for a personal loan?
Yes, however your good name, good credit record, and signature are the foundation for a Personal loan.
What is the difference between a loan and a line of credit?
A loan is not revolving like a line. A loan has a fixed rate, fixed term, and a fixed amount.
Loans | Vehicle Loans
I have not obtained car insurance yet. Is that a requirement to obtain the loan?
Yes. The auto seller (dealership) and the credit union require that you have a valid insurance policy in place before the transaction occurs.
What terms may I apply for when buying a used car?
From one to seven years, depending upon the year of the vehicle.
What is the oldest vehicle FMFCU will finance?
A vehicle up to nine years of age.
What year is considered a new car?
Current year and prior year models.
How can I apply for a vehicle loan?
You can receive an instant decision by applying online. Visit our Auto/Vehicle Loans page to apply now. Or you can apply by stopping at one of our branch locations, or by calling the Member Service Center at 610-325-5100 (Outside PA, 800-220-3193).
How much of the car payment will you finance for new vehicles?
100%, if you meet our qualifications.
If I move out of the area, can I still belong to FMFCU? How will I access my funds?
Once you are a member of FMFCU, you are always a member. With online access to e-Banking and Bill Payer, our Member Service Center, and national ATM access, you can always have access to your funds wherever you are. Moving away doesn’t mean you have to leave your credit union.
Can my company/organization join FMFCU?
Absolutely and at no cost to your organization. Please visit our Business Partners section for complete information about joining.
What if I already belong to another credit union? Can I still join?
Yes, if you meet these eligibility requirements:
- If you or an immediate family member is an employee of, attends or is a member of any of our partner organizations. Our partner organizations include companies, firms, associations, churches, schools, and more.
- If you live, work, worship, volunteer, attend school or regularly conduct business in the following locales: Borough of West Chester, City of Chester, selected areas in Norristown, Southeastern Delaware County and Northern New Castle County.
How do I join FMFCU as an individual?
It’s easy and fast. Stop by any FMFCU branch and ask about how you can join. Or you can call the Member Service Center at 610-325-5100 or 800-220-3193 (Outside PA), or apply online. You must either belong to one of our Business Partners or an immediate family member of a current FMFCU member.
You can also join if you live, work, worship, volunteer, attend school, or regularly conduct business in the following locales:
Borough of West Chester, City of Chester, selected areas in Norristown, Southeastern Delaware County, and Northern New Castle County.
Members of our FMFCU Foundation are also eligible to join.
Mobile Banking | AnytimeDeposit
How will I know if there’s a problem with my deposit after it’s accepted?
An FMFCU staff member will contact you via phone or e-mail within 24-48 hours if there is an adjustment to your deposit or your deposit is later rejected. Reasons for adjustments can include: Dollar amount entered does not match the dollar amount of the check Written amount of check differs from numerical amount Duplicate check Missing signature Missing Mobile endorsement Suspected fraudulent/altered checks
A check I deposited via AnytimeDeposit was later rejected and adjusted by FMFCU, can I re-deposit the original check with AnytimeDeposit?
If your deposit was accepted and later rejected and adjusted by FMFCU, you may be able to re-deposit the original item via AnytimeDeposit or at your local FMFCU branch. Please call our Member Service Center to discuss at 610-325-5100 (Outside PA , 1-800-220-3193). You may also visit your local branch for assistance. You will most likely have trouble depositing it another financial institution.
I deposited a check via AnytimeDeposit that was later returned through the normal Federal Reserve clearing channels and I received a Substitute Check. Can I re-deposit the Substitute Check with AnytimeDeposit?
No. Unfortunately, the Substitute Check is not able to be re-deposited via AnytimeDeposit. You must bring the Substitute Check into your local branch for assistance with re-depositing the item.
What is a Substitute Check?
Substitute Checks are special paper copies of the front and back of your original checks that are created to replace the original check. When a check is returned from the originating Financial Institution, a Substitute Check is issued and you are able to re-deposit the item for return reasons such as NSF or Uncollected Hold. Substitute Checks are unable to be re-deposited at all for return reasons such as Stop Payment or Refer to Maker.
What is AnytimeDeposit? Do I need to download the FMFCU Mobile+ App to use AnytimeDeposit
AnytimeDeposit allows you to make a deposit by taking a picture of the front and back of your check with your mobile device. Yes, AnytimeDeposit is a service available from FMFCU Mobile+ App. If you have not yet downloaded the FMFCU Mobile+ App or need assistance enrolling, please visit our FMFCU Mobile+ page.
Which mobile devices are supported?
Most iPhone and Android mobile devices are supported, as well as iPad tablets. Make sure the app is updated to the latest version for the AnytimeDeposit feature to provide the optimal user experience. In some cases, the Check Deposit menu item is not available due to non-supported device cameras.
Is AnytimeDeposit safe and secure? What security measures help protect my transactions?
FMFCU’s mobile banking service utilizes best practices from online banking, such as HTTPS, 256-bit SSL encryption, username and password access, security questions, and application time-out when the device is not in use. Only the enrolled device is granted account access. In addition, no account data is ever stored on the device. In the event of a lost or stolen device, the service can immediately be disabled by installing the app on. We also recommend that you set up password access on your mobile device.
Who is elligible for AnytimeDeposit? How long after I enroll in FMFCU Mobile+ may I start using AnytimeDeposit?
The service is available to any member age 14 or older who has downloaded the FMFCU Mobile+ App and is in good standing with the Credit Union. AnytimeDeposit is available for use immediately after downloading the FMFCU Mobile+ App. Members under 14 years old can use FMFCU Mobile+ and AnyTimeDeposit as long as there is an adult on the membership. Examples of this include custodial accounts and joint memberships. Business members enrolled in FMFCU Mobile+ may also use AnyTime Deposit.
Does FMFCU offer a home office scanner option for business that receive a higher volume of checks?
Yes, please contact Business Services at BusinessServices@fmfcu.org or call 610-359-3899, or visit your local FMFCU branch for more details.
Are there any fees associated with using AnytimeDeposit?
No. The convenience of AnytimeDeposit is being offered to you free of charge within FMFCU Mobile+.
What types of checks may I deposit? Are there any items that cannot be deposited using AnytimeDeposit?
FMFCU accepts any check that is drawn on a U.S. financial institution in U.S. dollars. The checks must also be payable to the account holder. This includes:
- Personal Checks
- Corporate/Business Checks
- Cashier’s Checks
- Government Checks
- Money Orders
The following items are not eligible for AnytimeDeposit:
- Checks payable to any person or entity other than you (third party)
- Post-dated checks Stale-dated checks (older than six months)
- Checks containing an obvious alteration to any field
- Checks not payable in U.S. currency Items drawn on financial institutions located outside the United States
- Savings Bonds
- Travelers Checks
- Amex Gift Cheques
- Items previously converted to a substitute check
What accounts can I make deposits to using AnytimeDeposit?
You may deposit or make payments to the following share accounts: Checking and Performance Checking Savings Lines of Credit Loans
Can I make a payment directly to my loan using AnytimeDeposit?
Yes, you can make a payment directly to a loan using AnytimeDeposit. After taking a photo of your check and entering the dollar amount, simply choose the correct loan from the “Select Account” drop down box. You can also choose to enter an email address for a confirmation receipt from email@example.com.
How do I endorse my check for AnytimeDeposit?
In addition to your signature, member number and Share/Account ID (007,100, etc.), you must endorse “FMFCU Deposit Only” on the back of the item. Not including the mobile endorsement may cause your deposit to be rejected.
How do I make my first mobile deposit?
To make your first AnytimeDeposit, follow these simple steps:
- From the main menu choose “Deposit.” A screen will be displayed giving a few minor tips.
- Make sure your check is properly endorsed. This includes your signature, member number, Share/Account ID and “For FMFCU Deposit Only” when using AnytimeDeposit. Please be aware that not including the proper endorsement may cause your deposit to be rejected.
- Capture a photo of the front and back of the check by first clicking on the “front” image box, then choosing the “back” image.
- Enter the additional information fields: the dollar amount of the check and the proper account from the menu.
- A funds availability message will appear. This message may vary slightly depending on the amount of the check and the device being used.
- When complete, click DONE.
How do I get the best image of the check using AnytimeDeposit?
- Make sure there is good lighting where you’re taking the photo of your check.
- Make sure your camera lens is clean.
- Place the check on a dark surface.
- Make sure the check is clearly visible – no other objects interfere and all 4 corners of the check are evident. You should see your entire check image within the guidelines.
- Be sure your camera has a chance to focus on the image; being too close can make the check image blurry.
- The signature on the check must not go into the MICR line on the bottom of the check.
What are the deposit and trnasaction limits for using AnytimeDeposit? What happens if I exceed the deposit/dollar amount limits?
There is a $4,000 daily deposit limit / $6,000 7-day deposit limit / $15,000 30-day deposit limit. There is no limit to the number of deposits that can be made. If a deposit amount would exceed the limit, you will be presented with an error message such as, “The calendar day deposit of $4,000 will be exceeded. You may deposit up to $X.XX.”
How long do I need to keep the original check after depositing it?
Please keep your original checks for 60 days in a secure location and then securely destroy them, such as shredding. Do not keep your checks for more than 90 days.
Can I export, save, and print images of my deposited items?
You will be provided with 180 days of transaction history and check images within the AnytimeDeposit feature. At this time, however, these images are view only and unable to be saved to the mobile device. If you should need a physical copy of an item deposited, please call our Member Service Center at 610-325-5100 (Outside PA, 1-800-220-3193).
How will I know if FMFCU received my deposit?
You can view your account history within the FMFCU Mobile+ app or e-Banking.
When will my deposit post to my account?
Your deposit will post immediately. This means you will be able to see the deposit in your account history right away. The description will always include the words “CO-OP Mobile,” but please be aware that the transaction will include a ‘Type’ of ATM DEPOSIT. The six-digit number will also match your email receipt, if you choose to receive one. The entry will look similar to the one below:
02/06/2014 ATM DEPOSIT #037300 Deposit PA Franklin Mint CU CO-OP Mobile Banki
When will the funds be available for use?
$200 of your deposit is available the next business day. The remaining funds will normally be available two business days after deposit, but are based on FMFCU’s current Reg CC hold policies.
What does a funds availability message look like?
This message may vary slightly with additional wording depending on the amount of the check and the device being used, but would normally look like this:
Funds availability: Availability of your deposited funds is based on FMFCU’s current hold policies. Please retain your original deposited check(s) for 60 days and then securely destroy them.
Your message may include, “Payee may not match account holder or institution.” This may appear when the payee name on the item does not match exactly to the name on your membership, or if the payee line is poorly written. This does not mean your deposit will be rejected.
I received an error message, what does it mean?
You will receive an error message if a deposit cannot be accepted for various reasons. If you feel you need to discuss the matter in more detail, you can call our Member Service Center at 610-325-5100 (Outside PA, 1-800-220-3193). Reasons that deposits may be declined include:
- Ineligible Check/Non-negotiable item
- Stale dated/post-dated item
- Duplicate item
- Poor image quality
- Daily deposit dollar amount exceeded
Mobile Banking | Bill Payer Mobile
What if I choose a membership not signed up for bill payer?
When a membership is selected that has not previously been signed up through e-Banking for the Bill Payer service, users will receive an alert pointing them back to e-Banking for Bill Payer sign up.
Is the same functionality available for bill payer in the Mobile+ app as e-Banking?
Mobile+ users can schedule a payment through the mobile app, one-time or recurring. They can also view pending and scheduled payments, and also cancel scheduling payments if needed. For other Bill Payer needs you will visit e-Banking.
How do I schedule a payment?
- Select Bill Pay from the navigation bar
- Choose membership (if there are multiple linked in the wallet)
- Select + sign (in green circle/ top right of screen)
- Make a payment screen appears
- Complete Payment fields:
- Choose your payee (cannot add new payees inside app)
- Choose the funding checking account
- Fill in the amount
- Add memo (if needed)
- Set Recurring (if repetitive)
How do I set up recurring payments?
Once the steps listed above are completed to schedule a payment you can select the recurring option (do not slide selection, will not work) and complete frequency and duration fields.
Will express pay be available in Mobile?
Immediate payment is not currently available in Mobile+ application
Will I be able to view my Bill Payer history in the Mobile+ app?
At this time, only pending and scheduled payments are reflected.
Can I add and delete payees in my Mobile+ application?
No. To add/delete or make any changes to payees, users will need to log into e-Banking for this maintenance.
Can I delete a pending payment? delete a pending payment?
Pending payment cannot be deleted in the app or through e-Banking, since they are in process of being paid.
Can I cancel and or edit a scheduled payment in Mobile+?
Yes, member can cancel scheduled and recurring payments in Mobile+.
How to cancel/edit a scheduled payment
- Select Bill Pay from the navigation bar
- Choose membership if multiple are listed, otherwise member is redirected to pending/scheduled screen
- Select entry under schedule payments
- Payment detail screen appears
- Click on edit tool (pencil/upper right hand corner)
- X appears (right hand corner/in green circle)
- Select and confirm Yes/Delete
- Scheduled payment screen no longer reflects deleted payee
- Select Bill Pay from the navigation bar
- Choose membership if multiple are listed, otherwise member is redirected to pending/scheduled screen
- Select entry under schedule payments
- Payment detail screen appears
- Click on edit tool (pencil/upper right hand corner)
- Edit payment screen
- Amount/Delivery date/Memo/Turn off/on recurring
- Update date payment
*Funding account and payee cannot be changed
Is there a cost associated with Bill Payer?
Bill Payer is a free service for member’s providing they pay at least one bill per quarter. The monthly charge for non-usage is $8.95 and the fee is assessed after there have been no payments scheduled for 90 days. Once assessed, members should be encouraged to use the bill payer service at least once a quarter, this will stop the fee.
How do I use Bill Payer in Mobile+?
Select the Bill Pay button from the navigation bar. If there are multiple memberships linked through mobile wallet you will need to choose which membership to use.
Mobile Banking | FMFCU Mobile+
How do I cancel Mobile Banking?
You can manage your Mobile Banking account, makes changes or cancel FMFCU Mobile by logging in to the Mobile+ website or the app itself. Go to the Manage Accounts option to make changes or delete as necessary. If you are unable to access the website or the mobile app and need to cancel FMFCU Mobile, please contact your local branch or our Member Service Center.
Which wireless carriers are supported?
FMFCU Mobile+ supports all major wireless carriers (AT&T, Sprint, T-Mobile, Verizon) as well as some regional carriers.
Can I use FMFCU Mobile+ on more than one phone or device?
Yes. You can download the app and log in using your mobile credentials as long as the device is supported.
How do I reset a forgotten user ID or password? How do I reset an account lockout?
For a forgotten user ID:
Start by clicking on the Problems Signing In link on the app itself. Select the Retrieve My Username option. Run through the membership verification procedure. The FMFCU Mobile User ID will display, make note of it.
For a forgotten password:
Start by clicking on the Problems Signing In link on the app itself. Select the Reset My Password option. Run through the membership verification procedure. Enter a new password, confirm with a second entry and click Submit.
For an account lockout:
If you need to stop your FMFCU Mobile enrollment for any reason, login to the FMFCU Mobile+ website: Change your enrolled phone number email address. Update your password or change your Username. Delete your mobile enrollment.
Doe the User ID or Password have any special qualifications?
- User IDs are NOT case sensitive and must be at least 6 characters.
- The Password must be at least 8 characters in length.
- Include at least one uppercase and one lowercase letter and one number.
- It cannot contain spaces, use the word “password” or have four or more sequential letters or numbers.
What if my personal information has changed and I have not updated it with the Credit Union?
- You can login to e-Banking and update your personal information through the User Preferences link found under the User Profile tab.
- If necessary, you can visit your local branch for forms.
- Please contact us at 610-325-5100 (Outside PA, 800-220-3193) for more information.
Can I have multiple memberships viewable through my app?
Yes, you can add multiple memberships to one login, and they would all appear in your wallet.
Can I transfer funds from one membership to another through FMFCU Mobile+?
Yes, you can add any memberships that you are the main or joint member of to your wallet. The app allows transfer of funds within any eligible accounts enrolled in the Mobile+ wallet.
I have a Blackberry or Windows mobile phone, can I still use the FMFCU Mobile banking service?
Yes, you would enroll through this link to activate the Mobile+ Browser Banking options.
Do you offer a text banking option?
Yes, you can enroll in FMFCU Mobile+ and then verify your mobile phone number.
Can the joint owner on my account enroll for FMFCU Mobile+ even after the main member has?
Yes, a joint owner can enroll for FMFCU Mobile+ using their own name and Social Security number as well as other information requested from the membership. The joint member must verify their own mobile number to complete the enrollment.
Do I need to be signed up for e-Banking to use FMFCU Mobile+?
No. You can get started using FMFCU Mobile+ regardless of your e-Banking status. They are two different membership options made available to you. If you would like to use the Bill Pay feature in Mobile+, you will need to be a registered e-Banking user who elects to have Bill Pay.
How do I enroll for FMFCU Mobile+?
Download the app to your Apple or Android device (phone or tablet). Click on the Enroll Here button to begin. You must have more than $2.00 available balance in one eligible account. Accept the Terms of Service.
- Provide your membership number and information as requested.
- Create a unique username (not member number) and password.
- Set your security questions and answers.
- Confirm the two small micro deposit amounts noted on the screen (you have three days to complete this step)
- That’s it, you are ready to login!
Will FMFCU ever ask for personal account information via text message or email?
No, please see the FMFCU Security Center on our website for helpful details pertaining to keeping your information safe.
Is FMFCU Mobile+ secure?
FMFCU’s Mobile Banking service utilizes best practices from online banking, such as HTTPS, 256-bit SSL encryption, username and password access, and an application time-out when the phone is not in use or after a short designated time of application inactivity.
Texts are stored on the device, but DO NOT contain sensitive personal information such as account numbers, address, member number, etc.
As an additional security measure, FMFCU strongly cautions against using public WLANs for mobile banking purposes. It is recommended you use only trusted secure wireless networks and install proper Anti-virus software on the device.
What are the functions and transaction types offered through FMFCU Mobile+ apps?
Through the convenience of your mobile phone or tablet device you are able to:
- View account history
- Search account activity
- Transfer funds, within any of the memberships you have verified to add into the wallet.
- Remotely deposit checks
- Send funds to any person with an email address
- Access your Bill Pay payees and schedule payments
- Find the nearest CO-OP CU Service Center Shared Branch or CO-OP Network ATM
What service options are supported through FMFCU Mobile+?
- Text Banking
- Mobile Browser banking
- Downloadable applications (iPhone/iPad and Android only, both provide Anytime deposit feature)
- Person-to-Person Payments
- Bill Pay (if an e-Banking Bill Pay user)
Are all members eligible to enroll for FMFCU Mobile+?
Most memberships (main and joint) and business memberships will be eligible for FMFCU Mobile. An open eligible account with at least $2.00 available balance is required (i.e. savings, checking, club accounts and money markets are all eligible accounts).
Do I need a text message or data plan?
A text messaging and/or data plan is generally recommended. You should contact your carrier to confirm any charges associated with text messaging and data usage on your devices.
Are there fees associated with FMFCU Mobile+
The convenience of FMFCU Mobile Banking is being offered to you free of charge. E-Banking users of Bill Pay will have access inside of Mobile+, check our fee schedule for more information. We do encourage you to check with your mobile carrier for possible text or data charges.
What is FMFCU Mobile+ Banking?
If you are on the go you can still check account balances, transfer funds, deposit checks, send money to individuals or pay bills from the convenience of your mobile phone or tablet!
FMFCU Mobile is not a replacement for e-Banking. It is simply another delivery option FMFCU is offering you supporting Speed, Service and Convenience.
Mobile Banking | Person-to-Person (P2P)
What are P2P (Person-to-Person) Payments?
Mobile+ users can send money to any person who has an active checking and or savings account with a U.S financial institution (banks and credit unions).
Are there eligibility requirements to send P2P payments?
There are no special eligibility requirements for this service. It is available as part of the Mobile+ app.
Are there limits as to the amount or frequency of payments sent using P2P?
You can use the P2P option to send $1,500 daily, $2,500 weekly and $3,500 monthly over a rolling calendar with a max of 10 transactions per 30 days.
What information is needed for a user to send a payment?
Mobile+ users need to have the first and last name of the individual they are sending funds to. In addition, a valid email address is required. Payments can also be sent using an account and routing number of payee’s institution when available to the sender. When sending money, you should always notify the payee and ensure the name titling information they are using is reported to the payee.
How do recipients receive the funds into their accounts?
Recipients will receive an email notification that a payment has been sent, and usually include a confirmation token (code). The notification to both sender and payee comes from RealPay by CO-OP /email address -firstname.lastname@example.org.
In some cases the notification alerts payees of the deposit (if a user is Mobile+ registered), in other cases, payees will need to follow a link in the email* acknowledging/picking up funds. Recipient experience may differ by financial institution. Payees must provide the token AND the exact First and Last name the sender used to send the payment in order to validate the pickup.
*The link in the notification email will lead payees to a Real Pay Payment Pick Up site https://realpay.co-opfs.org. It is a secure site.
What is RealPay by CO-OP?
RealPay by CO-OP is the technology that facilitates person-to-person payments in your mobile app.
Why are some payees redirected to the Real Pay Payment Pick Up site?
If Real Pay by Co-Op does not recognize the payee’s information, they must verify and provide token information delivered in the email notifying them of pending payment. Payee First and Last name information MUST MATCH what the sender provided when initiating the transaction.
How long does it take for funds to reach a payee’s account?
How and when a payment is delivered and received by a recipient can differ upon financial institution and the payee*. The transaction may take up to two full business days to post to the payee’s account, however in some cases, the payment could post sooner.
*In network (CO-OP network Credit Unions) payments with appropriate payee information can post almost immediately. Payments sent out of network (Banks, for example) can take up to two full days for the payment to be sent/posted. Payees may also have to take steps to acknowledge/pick up payments.
What if a payment is sent to an invalid email address or wrong account number?
Members are responsible for the accuracy of the information used to initiate the P2P payment. When sending money, members should always notify the payee and ensure the naming information they are using is correct and shared. If an incorrect email address is entered, the payee will not receive notification of the deposit. If the account number is incorrect, the sending member cannot take any action to reverse the payment unless the cancel option is available on the transaction in question.
Can members cancel a payment once it has been sent?
Members can cancel any pending payments that have not yet been picked up by the recipient / automatically delivered.
How to Cancel a Payment:
- Tap the Send icon in the navigation bar to display the Send Page. Scroll down to Recent Send History. History lists recent payments.
- If a payment has an X icon next to it, it is pending and it can be cancelled. Tap the X icon next to the payment you would like to cancel. (X icon is not available for payments that are not pending)
- Tap Yes to confirm a deletion. A payment canceled message appears.
- Tap Dismiss. The Send page reappears and the status of the payment in Recent Send History is now Cancelled.
What happens if a recipient does not pick up the money?
If a payment is not picked up after 15 days, it expires and the funds are posted back to the sender’s account.
How do I initiate a P2P payment?
How to send a Payment:
- From the menu bar, tap the Send icon
- Screen with required fields (first/last name, email address) appear/ Next Step
- (Member also has the option to enter payees account information at this time if it’s available to them.)
- Enter dollar amount/select account payment is coming from/ Send It!
- You will receive a confirmation screen where they can review/confirm payment or review/cancel payment.
*Email receipt. You can select this option after payment and an email of the transaction is sent to the primary email address you have on file inside the app.
Where can I view P2P payments that have been sent?
You can view past payments under Recent Send History at the bottom of the Send screen. Payment history will display the last 99 Person-to-Person payments initiated in the app.
I see several statuses in my Mobile+ payment history. What do they mean?
Depending on what is currently happening with the payments, you may see the following: “Pending” status means that the payment has been delivered to the recipient but has not yet been picked up. In most cases, the recipient still needs to take some action before the funds can post to his or her account. You can cancel pending payments at any time. “Completed” status means that the payment has been successfully posted to the recipients account. You cannot change or cancel payments that are completed. Note that some completed payments may take up to two business days for the funds to show up in the recipient’s account. “Cancelled” status means that you have deleted a pending payment. In these cases, the recipient never receives the payment, and the funds are posted back into your account that was debited. “Expired” status means that the recipient never took the required actions to retrieve the payment. Payments expire within 15 business days after they are sent. Only pending payments can move to an expired status. Recipients are notified when payments expire and the funds are posted back into your account that was debited.
Can I use cell phone number to send a Person-to-Person payment notification?
It is possible to send a Person-to-Person payment by using the recipient’s enrolled mobile number. The recipient MUST be a registered FMFCU Mobile+ user with a verified mobile number inside the app.
Should I refinance my existing mortgage?
It depends. If the current rates are one or more percentage points lower than your interest rate, refinancing could help you save considerably on your monthly payments. There are, however, some important factors to consider before making the decision to refinance:
Do you plan to move within the next few years? Because of the closing costs involved with refinancing, you would not save much money if you refinanced and then moved shortly thereafter. In fact, it would cost you money. Generally, it will take you one year to recover closing costs from refinancing. After that, you will realize the savings for years to come.
Give this formula a try to see how refinancing would work: If your original mortgage amount was $100,000 at 8.5% for 30 years, your monthly payment (principal and interest only) is $768.91. If your new rate were 6.875% for the same term, your new payment would be $656.93, saving you $111.98 per month.
FMFCU has hybrid ARM products available that offer a discounted beginning rate, which can be useful if you are considering moving in the next few years.
Why would I want to refinance my current mortgage?
You might be able to lower your monthly payment or term and increase your savings. Also, you may want to consolidate other debt into one monthly payment or borrow the equity in the home to make home improvements.
Do you handle out of state mortgages?
Yes, we lend mortgage money in all states except California and Texas.
What is the turn around time, from application through closing, for purchases and refinances?
We will meet your closing date on purchases as long as there is a reasonable time frame until the scheduled closing. If we have all of your required documentation and the appraisal and title insurance are complete and acceptable, we can usually close in 20 to 30 days. Refinances generally can close within 45 days, depending upon current mortgage volume.
What can I expect at settlement?
You should be prepared to sign various paperwork at settlement, including the mortgage, note, and all disclosures. Be sure to bring the following with you: two forms of valid identification, remaining down payment and closing costs in the form of a certified check or cashier’s check made payable to the title insurance company, and a paid receipt for your homeowner’s insurance.
Can I have my mortgage payment automatically deducted from my account?
Absolutely. Your FMFCU mortgage means no coupon books and no monthly invoices to misplace. With this pre-authorized deduction option, your mortgage payment will be taken monthly from the account you designate. It’s an easy way to make your monthly payment, and you won’t have to lift a finger! All you need to do is make sure you have sufficient funds in your account by the first of the month and we’ll do the rest.
How does an appraisal affect my mortgage amount?
FMFCU will extend a mortgage based on the appraised value of the home or the purchase price, whichever is lower.
What are points?
Points are a one-time charge by the lender which allow you to obtain a lower interest rate. One point is equal to one percent of the mortgage amount. FMFCU offers a zero point option on its fixed-rate mortgage products.
What do I need to bring with me when I apply for a mortgage?
At application, you will need:
- W-2 for last two years and one month’s recent pay stubs
- Place of residence for the last full two years
- Employer name, address and phone number for the last full two years
- Fully executed agreement of sale signed by both buyer(s) and seller(s) when buying a home or a copy of the deed if refinancing
- Bank names, account numbers, and balances
- Most recent bank statement for the last month, all pages
- $400 application fee payable to FMFCU which covers the cost of the appraisal, credit report and flood certification
- If self-employed, last two years’ tax returns with all schedules
- Green card for permanent resident aliens
- Account numbers, addresses, balances/monthly payments on all open loans and credit cards
How much do I need to put down on my new home?
Generally, you can put down as little as 0% to 3% of the purchase price, or as much as you want above that percentage. Of course, the more you put down, the more flexible we can be with the qualification ratios.
How can I determine if I would qualify for a mortgage?
As a guideline, about 28% of your gross annual income should be allocated for housing expenses. Simply divide your gross annual salary by 12, and multiply that figure by .28. That will give you an estimate of the amount not to exceed per month for a mortgage payment.
Also, keep in mind that you may have other debts as well. These recurring expenses and bills, added to your housing expense, should not exceed 36% of your monthly income. (Examples of recurring expenses are: electric bills, gas bills, auto payments, student loan payments, etc.)
Our free pre-qualification program will allow you to determine the maximum amount you can afford.