New On-Line Banking Features

Loan Payment Options offer more flexibility

Previously, to pay a loan with On-Line Banking you would need to make a transfer from your checking or savings account to your loan. While this worked most of the time, there were things (such as making a payment to principal only) that were not possible to do online. Now you can use the Loan Payment Options page (found under the Accounts menu) to have more control over the way your payments are made and applied.

Your options include:

• Loan Payment (within 15 days of due date)
  Use this option to make your next payment. You can make the full payment or a different amount. If you have an automatic payment scheduled, making your full payment early will cancel your next scheduled payment.
   
• Loan Principal Only Payment
  Use this option if you want to pay only against your principal. You might use this option to make overpayments to an automobile or RV loan.
   
• Paydown a Line of Credit
  Use this to pay down (but not close) a line of credit, VISA card, or other loan that can be borrowed from again even though it is paid off.
   
• Payoff and Close a Loan
  Use this as an easy way to pay off and close an auto loan, RV loan, or any other loan that will not be used again once it is paid off. Please Note: To pay off and close a Home Equity VISA card, you will need to contact the credit union to pay your $75 reconveyance fee.