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Q. What is a compromised card?
A. A compromised card is a card that is at risk of being used fraudulently. Cards may be compromised due to any type of suspicious activity, including: skimming, computer theft, unauthorized network intrusion, or any other type of suspicious activity.


Q. Why are you reissuing my compromised card?
A. EFCU takes every compromise seriously and issues replacement cards for affected customers. As part of their routine practice, VISA communicates with EFCU about data compromises that occurred. Your card account has been identified as having a high likelihood for fraudulent activity. To protect your card and account, we have elected to reissue you your card.


Q. What if I do not want to have my current card replaced?
A. Compromises are serious. Fraudulent activity may occur if the card in not replaced. The fraud dispute process can be more inconvenient to customers than simply having a card replaced. While many customers do not experience fraud when a compromise is reported, the risk of exposure still exists if the cards are not replaced. To protect our customers, minimize inconvenience and losses, EFCU requires compromised cards to be replaced.


Q. Does receiving a replacement card for my compromised account mean that I have fraud on my compromised account?
A. Not necessarily. In fact, among the list of card numbers we periodically receive, only a few are affected by fraud. Take the opportunity to review your monthly statement(s). Remember to review your daily transactions on e-Banking.


Q. What if I have recurring payments with merchants made to my compromised card number?
A. You should contact the merchant(s) immediately upon receipt of your replacement card(s) and provide them with the new card number and expiration date. This process may be as simple as logging into the corresponding merchant(s) site and updating the information yourself.

e-Banking Help

Q: What is e-Banking?
A: e-Banking is a tool that allows you to use a personal computer with an Internet connection to conduct your banking online. You can view account balances, transaction history, transfer money, download transactions to a personal financial manager and much more.


Q: How do I sign up?
A: Please call us at 812-424-2621 for assistance or stop by any of our 3 local branches.


Q: What technology is required to use the e-Banking service?
A: All you need to use e-Banking is a secure browser that supports 128 bit encryption, such as Microsoft Internet Explorer®, Netscape Navigator® or America Online®. You can use any computer that has Internet access.


Q: Can I create my own password that is easy for me to remember?
A: Yes, after you use your assigned User ID and pin number to log-in for the first time, you will be prompted to create your own User ID and password. You can also change your password anytime by going to My Settings, Update password.


Q: What happens if I forget or lose my User ID or password?
A: For the App, in the lower right-hand corner select “More” then select “Recover Credentials” and enter your phone number and username to recover a temporary password. If you forgot your username, on that same screen select the link that says, “I forgot my username” and put in your email address and select “Send.”

For the website, on the right-hand side of the screen select “Log in” then “Forgot Password” and enter your phone number and username to recover a temporary password. If you forgot your username, on that same screen select the link that says, “I forgot my username” and put in your email address and select “Send.”


Q: What is Enhanced Login Security?
A: The first time you login to e-Banking, a screen will prompt you to enroll in Enhanced Login Security. Just follow the steps to enroll your account and your computer or device. Enhanced Login Security is a security technology that protects your accounts from unauthorized access. It identifies you as the true "owner" of your accounts by recognizing not only your password, but your computer or device as well. If we don't recognize your computer or device - you've logged in from a public computer, or one you haven't used before - we'll ask you for information that only you will know as an additional line of defense to prevent unauthorized access. With Enhanced Login Security, you'll be protected from whatever computer or device you're using, whether you're at home or on the go.


Q: How current is my banking information?

A: Your account information is updated in real time as new transactions post to your account.


Q: What accounts will I be able to access through e-Banking?
A: You can access your checking, savings and investment, and loan accounts. You can also access your Visa® Credit Card or Home Equity Visa® account and your EFCU mortgage account online through links provided within e-Banking. Our e-Banking Product is intended to give you as much access, security, and versatility as possible.


Q: How much account information can I view at once?
A: The system will automatically show the current month's transactions and information. However, by selecting User Preferences, you can choose to view the current month and the previous month. Or, you can choose to view your account from the current date to same date of the previous month. You can view your accounts by date, check number, payee, amount or balance in ascending or descending order

e-Bill Pay Help

Q: What is e-Bill Pay?
A: e-Bill Pay lets you make payments, receive bills, and pay bills online through your credit union. You can make payments to anyone, anytime, anywhere in the United States, from your mortgage lender to your newspaper carrier. The only payments you cannot make through your bill payment service are court-ordered payments and state and federal tax payments.


Q: Will I be able to use Bill Payment with any of my EFCU accounts?
A: No. The Bill Payment Option can only be used with your EFCU Choice Checking™ account.


Q: How will I be billed for e-Bill Pay?
A: You won't! e-Bill Pay is completely free, no matter how many bills you pay!


Q: How do I sign up for e-Bill Pay?
A: Log into e-Banking and click on “e-Bill Pay”. Click on “Click here to sign up for e-Bill Pay”. The enrollment process for e-Bill Pay involves a few simple steps. For your convenience, the application form is pre-filled with as much information as possible.

To complete the enrollment process you must provide any additional information required and accept the disclosure statement (terms and conditions). Acceptance of the terms and conditions is required to access online bill payment services. When the enrollment information is complete, click Continue to review and confirm the information entered. Click Continue to confirm the information and begin the application review and approval process. Your information will be entered into the bill payment provider's system. Within approximately 2 business days you will receive an email confirmation. You are now ready to use the Bill Payment service.


Q: When can I start using e-Bill Pay?
A: After enrolling, you will first receive an approval email. Once your account has been enabled, you will receive a welcome email indicating that you may begin using e-Bill pay.


Q: Once I’ve gotten my welcome email, how do I begin using e-Bill Pay?
A: To start using e-Bill Pay, you need to set up your Billers, the merchants you want to pay. To add a new merchant, click on “Need to pay someone new" and follow the online steps. Follow these steps anytime you wish to add a new Biller.


Q: How does a payee receive my money?
A: e-Bill Pay determines if the payment will be made electronically or by check, based on whether the payee accepts electronic payments and other guidelines. For example, some payees, such as individuals, cannot receive electronic payments, so a check is printed and sent to the payee. Whether a payment is made electronically or by check, the payment is processed to reach the payee on time.


Q: What is printed on the paper checks you send?
A: The paper checks display the same information that you complete when you add a biller. This information includes:

  • Your name
  • Payee name
  • Payee account number
  • Payment amount
  • Payment date

Note: In some cases, the paper checks are drawn against your payment account. When this is the case, your payment account number will also appear on the check.


Q: How many days does it take for a payment to reach the payee?
A: Since payment processing can take three to five working days, the safest thing is to always schedule your payments at least five working days before the due date.


Q: How do I change information for a certain merchant?
A: To change information associated with a biller, click on "Options" under the biller and click "Account information" and follow the steps.


Q: Do I need to contact the payees I decide to pay with e-Bill Pay?
A: No, you do not need to contact your payees if you use this service. e-Bill Pay sends each of your payments with your payee account number and payee information, so the payees are able to credit your account appropriately.


Q: Can I add the same payee to my payee list more than once?
A: Yes, you can add the same payee to your payee list more than once. You can add multiple payee accounts for the same payee as long as you have different payee account numbers. For example, if your phone company provides your home phone service and your cellular phone service, you can add the company as a payee twice by entering a different account number each time.


Q: When is the money for the payment drawn from my payment account?
A: If the payment is sent electronically, the funds for the payment clear your account on the due date. Otherwise, funds clear your account when the payee deposits or cashes the check. Keep in mind, however, that you should always have funds available to cover the payment on the scheduled payment date.


Q: Can I make international payments?
A: No, you cannot send a payment to a foreign address.


Q: How far in advance of the due date should I schedule my payments?
A: When making a payment, the first available payment date allowed by e-Bill Pay is four business days from today. The payment date is the date that the payment is due. Four business days before a payment's payment date, e-Bill Pay looks at your payment to determine how it should be processed. For example, e-Bill Pay needs to know if the payment is going to a payee that can accept electronic payments or if the payment should be sent as a check. After e-Bill Pay determines how to process the payment, you can no longer make changes to it; your changes could affect how e-Bill Pay would process the payment. The payee then receives the payment on the due date.

Scheduling pay dates sufficiently in advance of the due date on the bill allows enough time for the payee to receive the payment and credit it to your account.


Q: What do I do with the part of the mailed bill statement that I used to mail back with my payment?
A: You don't need to do anything with your bill statement-payees do not need that portion of your statement. All of the information you provide when adding payees and scheduling payments is sufficient for the payee. If you like, you can keep the statement for your own records.


Q: How do payments show up on my payment account statement?
A: When you receive your payment account statement, the payments made through e-Bill Pay usually appear as electronic withdrawals even if e-Bill Pay sends a paper check to the payee.

Note: In some cases the paper checks are drawn against your payment account. When this is the case, the payments will appear on your payment account statement just like your other checks.


Q: How do I know what the status of my payment is?
A: Look for the payment in "My Payments". There are two sections for bills – "Scheduled Payments" are those that are not yet paid and "Recently Processed Payments" have already been paid.


Q: How do I cancel or change a payment?
A: You can cancel or change a payment while its status is Pending, as long as you can still see a cancel or change button. Once those buttons are gone, you can no longer make any changes to the payment.


Q: What do I do if the payee has not received or credited my payment?
A: Sometimes the payee may not credit your account immediately after receiving a payment. If the payment is not credited in a reasonable amount of time, take the following steps to resolve the problem:

  1. Wait five days after the scheduled payment date to see if the payee credits the payment to your account.
  2. If the payment is not applied to your account, call the payee's customer service department to see if they received the payment and credited your account. When you call, gather the following information from the payee:
    • The name of the person who assisted you with your payment question.
    • The phone number you called to contact the payee.
    • The date you called the payee to inquire about your payment.
    • The amount of any late fees or finance charges assessed.
  3. If you have received a late fee but scheduled your payment on time, ask the payee if they will waive any late fees or finance charges.
  4. If the payment is not credited to your account or if the payee will not waive late fees, please contact us.

Q: What do I do if a payment failed?
A: "Failed" is a status that appears in Payment Activity if a payee returns one of your bill payments to us. The payee may have returned the payment because the information you provided when you added or updated the payee in your payee list wasn't sufficient for the payee to credit your account. You may consider making the payment by other means if it is close to the bill's actual due date.

e-Bill Help

Q: What is an e-Bill?
A: An e-Bill (electronic bill) is an electronic version of a paper bill that you can view online through e-Bill Pay. You can receive e-Bills from payees that are e-Bill-capable. Once you request e-Bills from a payee and the request is processed, you should receive a message in Messages stating that your e-Bill service has been activated. E-bill service requests are usually processed within two weeks. New e-Bills appear on the E-bills page as either paid or unpaid.


Q: How does e-Bill work with e-Bill Pay?
A: e-Bill Pay lets you make payments and receive and pay bills online through your credit union. Electronic billing lets you receive electronic bills (e-Bills) online through e-Bill Pay. Some payees are able to send e-Bills to their customers. If you add a payee that is e-Bill-capable, you have the opportunity to request e-Bills from the payee.

Once your request has been authorized, you'll receive an e-Bill from the payee within a month or so, depending on the payee's billing cycle. You can pay the e-Bill directly, and you can continue to make single payments to the payee whenever needed.


Q: How do I know when I receive a new e-Bill?
A: The Unpaid E-bills page lists your new e-Bills. A notice also appears on the Home page to let you know when new e-Bills arrive.

If you are waiting for an e-Bill service request to be processed, check Messages periodically for a message stating that your e-Bill service has been activated for the payee. When you receive the first e-Bill depends on the payee's billing cycle.


Q: Will I still receive a paper copy of the bill through U.S. mail?
A: It depends on the payee. Some payees stop sending a paper bill and only send an e-Bill to your e-Bill Pay account. Other payees continue to send paper bills through U.S. mail in addition to an e-Bill to your e-Bill Pay account.


Q: Is an e-Bill the same as a mailed bill statement or invoice?
A: An e-Bill is a statement or invoice in an electronic format. E-bills typically contain the same information as your mailed bills.


Q: How do I find out if my payee sends e-Bills?
A: You can easily find out if your payee sends e-Bills while you are adding the payee or after you have added a payee.

  • When you add a payee that is e-Bill-capable, e-Bill Pay will automatically ask you if you want to receive e-Bills. To the left of the bill it will say "Get eBill" and then follow the directions.

Remember, the payee may take a couple of weeks to process your request to receive e-Bills.


Q: Can I pay e-Bills automatically?
A: Yes. Auto-Pay is an optional feature available for many payees that can send e-Bills. If Auto-Pay is available for an e-Bill capable payee, you have the option to select it. Auto-Pay automatically pays e-Bills by scheduling the payment date in time for the payee to receive the payment by the e-Bill's due date. Auto-Pay pays the e-Bill's minimum amount due. When you set up Auto-Pay, you can select to automatically pay the e-Bill regardless of the payment amount, or you can select to set a limit on the amount automatically paid. Please note that entering an amount in the "Only pay the minimum amount due for e-Bills if it is less than this amount" field means that the e-Bills minimum amount due - not the amount you enter - will be paid if the minimum amount due is less than the amount you enter.

If Auto-Pay is available, you can set up Auto-Pay when you add a payee, or you can add it later by changing payee information from the Payee Setup - Payee List page.


Q: What happens if the amount due for an e-Bill exceeds the maximum amount automatically paid?
A: If the minimum amount due for an e-Bill exceeds the maximum amount set for Auto-Pay, e-Bill Pay does not automatically schedule the payment. You receive a message letting you know that the e-Bill's minimum amount due exceeds the maximum amount automatically paid. Make the payment through the Make Payments - Single Payments or Make Payments - Multiple Payments page or by some other means. If you think that the amount due is incorrect, contact the payee.


Q: How do I change the maximum amount automatically paid for an Auto-Pay payment?
A: Go to "Payee Options" under the specific bill, and then click "Account Information". In the Auto-Pay section, type a new amount.


Q: Why was my e-Bill paid late?
A: If a payee sends an e-Bill late and the actual due date is before the earliest available payment date (remember e-Bill Pay needs a few days to process payments), Auto-Pay schedules the payment for the earliest possible payment date. Please contact your payee if an e-Bill arrives late and you are charged a late fee.


Q: How long does it take to receive e-Bills from a payee?
A: It may take up to two weeks for the payee to process your request for e-Bills. Once your request has been accepted, it may take a month or more, depending on the payee's billing cycle, before you begin receiving bills electronically.


Q: Can I pay e-Bills outside of e-Bill Pay?
A: Yes, you can pay an e-Bill by some other way (by check, for example). If you pay the e-Bill by some other method, you can delete the unpaid e-Bill from the Unpaid e-bill page. Once you delete the e-Bill, you cannot view the bill or bill statement again through e-Bill Pay. Unpaid e-Bills are never deleted automatically by e-Bill Pay. You can also print a copy of the e-Bill for your long-term records using your browser's print feature.


Q: Can I make more than one e-Bill payment at the same time (can I combine payments going to the same payee)?
A: No, for the e-Bill payment to work properly, you must pay each e-Bill individually.


Q: Can I pay someone else's e-Bills?
A: No, the bill must be in your name or your spouse's name.


Q: What happens if I delete a payee who sends me e-Bills?
A: When you delete a payee who sends you e-Bills, e-Bill Pay automatically removes the payee from your payee list, sends a message to the payee and asks them to stop sending e-Bills. You can no longer pay any unpaid e-Bills listed in the Unpaid E-bills page for the deleted payee, so you may want to pay unpaid e-Bills before deleting the payee.

It is also possible, due to the payee's billing cycle, that you may receive an e-Bill after you have deleted the payee. If you receive an e-Bill after you have deleted the payee, you can add the payee again (without requesting e-Bills) and make the payment from the Make Payments page, or you can pay the bill through U.S. mail.


Q: How can I stop receiving e-Bills from a payee?
A: To stop receiving e-Bills from a payee, go to Payee Options, and then click Account Information next to the payee. Select Click here to discontinue e-Bill service. The payee is notified to stop sending e-Bills. However, you may receive an e-Bill after canceling e-Bill service due to the payee's billing cycle. Make a payment to the payee from the My Bills and People page to cover the e-Bill or make the payment by some other means.


Q: I chose to stop receiving paper bills from a payee and now I want to start getting my bills mailed to me again. How do I do that?
A: If you are currently receiving e-Bills, and no corresponding paper bill, from a payee, you can start receiving paper bills again by canceling e-Bill service for that payee.


Q: If the amount for an e-Bill seems incorrect. What should I do?
A: If you have questions about an e-Bill, please contact the payee directly. All information on the e-Bill comes directly from the payee, the same as when they mail you a paper bill. Remember that you control the payment amount when you pay the e-Bill.

If an e-Bill amount is incorrect, make sure to contact the payee to avoid any late charges. Look on your last bill for the payee's customer service phone number.


Q: If my e-Bill is late. What should I do?
A: If your normal billing cycle has passed and you still have not received your e-Bill, contact your payee. Payees deliver e-Bills much like they deliver your paper bills. Depending on billing cycles, the exact day you receive your bill each month may vary. Also remember that it can take over a month before you receive your first e-Bill from a payee. Look on your last bill for the payee's customer service phone number.

Text Message Banking Help

Q. How secure is Text Message Banking?
A. Our Text Message Banking service is secure. Text messages will never contain confidential information about you or your accounts. Messages will never contain account numbers, only account nicknames.


Q. Will I be charged for Text Message Banking?
A. We won’t charge you, but standard carrier fees for text messaging may apply. Please check with your mobile phone carrier if you aren’t sure what fees apply when you send and receive text messages.


Q. Will Text Message Banking work on my phone?
A. Yes, as long as your have text messaging enabled with your mobile carrier it will. Please check with your mobile carrier if you are unsure.


Q. Which carriers do you support?
A. Our Text Message Banking service works on all major mobile providers in the US, including:

  • AT&T
  • CellularOne (Dobson)
  • Nextel
  • Sprint
  • T-Mobile
  • US Cellular
  • Verizon
  • Virgin Mobile

Q. How do I deactivate the Text Message Banking service?
A. You can text back STOP to 454545 on your activated phone, or you can return to the mobile banking page in e-Banking and click the “Deactivate” link next to your mobile device number. Your phone will no longer receive any text messages from Mobile Banking. You can add a new phone at any time if you change your mind later.


Q. Why do I need to verify my phone?
A. Verifying your phone is a one-time step and is one way we ensure the security of mobile text messaging.


Q. Where do I find my activation code?
A. During setup, we will send you a text message with your activation code. If you have already submitted your mobile number during setup, check your mobile device now. You should receive a text message with your activation code within a few minutes.


Q. I still have not received my code, what do I do?
A. It might take several minutes to receive your code. If you feel you have waited long enough, you can click the “Resend it” link. Please check your mobile device shortly for a new text message. If you are still experiencing problems, be sure you entered the correct mobile number during setup.


Q. Can I come back later to enter my activation code?
A. Yes, you can. If you experience difficulties, we recommend that you go through the setup process again and get a new code.


Q. What is a primary text banking account?
A. Your primary account is the default account that we will use when you text BAL to 454545. You should select the account that you will likely want to check most often. You can get all account balances by texting BAL ALL to 454545.


Q. Can I get the balances of my other accounts?
A. Yes – when you text BAL ALL to 454545, we will reply with a message containing the balances if all your checking and savings accounts.


Q. Can I change my primary account selection later?
A. Yes, you can. Simply return to the mobile baking and alerts page in e-Banking and select the edit link next to your primary bank information.


Q. Are there any shortcuts for the keywords?
A. Yes. The keywords are:

  • BAL = Primary account balance
  • BAL ALL = All account balances
  • BAL CHK = Checking account balances
  • BAL SAV = Saving account balances
  • LAST = Last 5 transactions
  • STOP = Deactivate service
  • HELP = Help on keywords

Q. Are the keywords case sensitive?
A. No, keywords are not case sensitive.


Q. What is the number I should send keywords to?
A. The short code is 454545. This short code will only work if you have activated the Text Message Banking Service.


Q. How long does it take to get a text message?
A. You’ll receive a text message response within a minute. Exact timing will depend on your mobile service carrier.


Q. Is there any password needed for Text Message Banking?
A. You don’t need a password to access your account information via text message.


Q. I have a new mobile phone number. Can I change or add my number online?
A. Yes, you first need to deactivate your cell phone and add your new cell phone number. You can do this within Text Message Banking set up in e-Banking.

Finance Works Help

Q: What can I do with Finance Works?
A: Once you get to the Home page, we encourage you to add as many of your accounts as you can. This will give you a better idea of your whole financial picture. Just type in the institution's name under Accounts to start adding your accounts. Then you can:

  • See if you live within your means.
  • Understand your spending habits.
  • Train us to categorize your way.
  • Set up a budget. Click the Goals tab and set goals for the categories you want to watch.
  • Never forget a bill payment. Set up alerts to remind you of upcoming bills.
  • Avoid being overdrawn. View your balance, transactions not yet cleared, and upcoming bills to know what you can spend (or save) before your next payday.
  • Prepare for tax time with Tax Watch.
  • If you have a business, stay on top of its income and expenses.

Q: How do I sign up?
A: You don't have to sign up - Finance Works is available to all EFCU e-Banking members. Just login to your e-Banking Account and click on the Finance Works tab.


Q: How do I update and get my latest transactions?
A: Every day, we get the transactions that your financial institution made available the night before. But occasionally, an account won't update for a variety of reasons. Just click on the Refresh button to get the most recent account information.


Q: How can I see if there are any newer transactions?
A: We typically get transactions made available the night before. Sometimes your financial institution will make newer transactions available later in the day. To see if there are any late-breaking transactions from an account, you can click Refresh.


Q: Can I get transactions older than 90 days?
A: Not when you first set up Finance Works. You can only start with 90 days of transactions from your current bank accounts. Then, as time goes by, you'll continue getting transactions from the accounts you've added. You also can't add older transactions manually.


Q: How do we automatically categorize transactions for you?
A: We categorize transactions based on their payee. A payee is the description of a transaction. It could be:

  • The name of a store, utility, or person that you paid
  • The name of a business or person who paid you
  • A type of transaction that your financial institution made for you, such as "MONTHLY FEE"
  • Just the word "CHECK" or "DEPOSIT" (from some financial institutions)

Whenever possible, we'll suggest more intuitive names and categories for common payees. But if that's not what you want, you only have to change it once, and we'll remember your new payee and category and use them on future transactions.


Q: How do I categorize transactions myself?
A: Just change one transaction and we'll remember your new payee and category and use them on future transactions for the same payee.


Q: How do I get reminded about my bills?
A: To set up a bill reminder, click an account name in the Accounts section of the home page. This will bring up a new page showing your transactions on that account. In the Upcoming Transactions section, select the Remind? checkbox for the transaction. Then, click on the Settings link on the home page and find the Bill Reminders section. Set the number of days ahead you want to see the reminder, check whether you want an email reminder of just see the reminder on the home page.


Q: What happens when each actual transaction comes in later from my financial institution?
A: We'll automatically delete an upcoming transaction when a new cleared transaction seems to match it. But if we miss one, you can always select it and click Delete. (Or if we delete one that we shouldn't have, you can always add it again.)

e-Statement Help

Q: What is an e-Statement?
A: An e-Statement is an electronic version of your statement. It provides you an alternate way to receive and store your monthly or quarterly statement from EFCU, utilizing Internet-based technology.


Q: How do e-Statements work?
A: To access your e-Statement, you will be required to be an EFCU e-Banking user. You will be notified through the email address you provide to EFCU, each month or quarter that your e-Statement is ready. A link to e-Banking will be provided in the email notification. After logging into e-Banking, click on e-Statements next to Featured. You will be able to view your statement right from your computer, 24 hours a day, seven days a week via the Internet.


Q: Are e-Statements safe?
A: All security precautions have been taken to ensure the confidentiality of your electronic statement. Logging into e-Banking ensures your e-Statement is safe as you are accessing your statement through a secure site. EFCU uses the best available technology in security, firewalls, and encryption.


Q: How do I sign up for e-Statements?
A: After you have logged into e-Banking, click on the e-Statements link.


Q: Will I continue to receive my paper statement in the mail?
A: No, your paper statements will stop once you sign-up for e-Statements. If you sign up for e-Statements by the last business day of the month, your next statement will come electronically.


Q: How and when will I receive my e-Statement?
A: Upon signing up for e-Statements, you will receive your first email notification to the email address you specified at the beginning of the following month. You will continue to receive a monthly email notification that your e-Statement is available. You will be provided a link to access your e-Statement or you can log into e-Banking and click on the e-Statements link anytime.

Historically, you have waited for your paper statement to be mailed and delivered. With e-Statements, you avoid the traditional mail delivery, so you will receive your statement sooner.

Please note, if you have a savings account only, you will only receive statements quarterly (January, April, July, and October), unless you have direct deposit or any other ACH transaction. If your account does not have any activity for 90 days, you will not receive a statement. Everyone receives a paper statement in January, as required by law.


Q: How much history is available for e-Statements?
A: e-Statements are available for up to 12 months of history, from the date you initially sign up.


Q: Will my e-Statement look the same as my paper statement?
A: Your electronic statement will look very similar to the current paper statement. It will have the same layout, colors, and graphics. Links to EFCU's quarterly newsletter (You and Your Money) and current news and specials will be provided in the email that announces your new e-Statement.


Q: Is there a charge for e-Statements?
A: No, e-Statements are free!


Q: How do I cancel my e-Statement?
A: If you choose to discontinue receiving your statements electronically, simply call us.


Q: How do I save my e-Statement for future reference?
A: You have the option of printing a hard copy of your e-Statement and/or creating a folder on your hard drive and moving or copying the PDF file into it.

To save a copy of your e-Statement, click on the 'Save A Copy' Icon (picture of a floppy disk) in the Acrobat toolbar. Then select where to save the file on your computer. Note: You must click on 'File' in the Acrobat Reader toolbar to save a copy, not the browser's toolbar (Internet Explorer, Netscape, etc.).


Q: What if I change my email address?
A: To change the email address your e-Statements notification is sent to, log into your e-Banking account, click on “My Settings", then click on “Email Address” to change it.


Q: How will I receive the "You and Your Money" newsletter and special announcement inserts that came with my printed statements?
A: Links will be provided to this information within your "e-News & You" email announcing your new e-Statement that allows you to view the newsletter and inserts online.


Q: What is a PDF file?
A: A PDF (Portable Document Format) is a universal file format that preserves all the fonts, formatting, graphics, and color of any source document, regardless of the application and platform used to create it. Adobe PDF files are compact and can be shared, viewed, navigated, and printed exactly as intended by anyone using Adobe® Acrobat® Reader™.


Q: What is Adobe® Acrobat® Reader® and why do I need it?
A: Adobe® Acrobat® Reader™ is free software used for viewing and printing electronic forms. You will need this software installed on your computer in order for your computer to download, display, or print your statement.


Q: How can I get Acrobat Reader?
A: You will have the ability to download the free software from a link furnished in your e-Statement account or by downloading Adobe Acrobat.

Troubleshooting Assistance
When accessing e-Statements, you may receive:

  • a message stating "Busy Loading Document : Please be patient"
  • a file download window appears and my statement does not load.

This issue is most likely caused by an Acrobat Reader failure. Please ensure that you have the latest version of Acrobat Reader.

e-Banking Security Tips

Q: Can anyone else see my accounts over the Internet?
A: EFCU uses the latest technology to keep your account information secure. Security features exist at every level-from your PC, to the Internet, and over our secure network. The following features are offered for full security:

  • password protection
  • Enhanced Login Security
  • lockout-access is denied after the fifth consecutive invalid login
  • timeout-account Access automatically logs off after a designated period of time
  • exit button-exits Internet Bill Payment and Account Access
  • cache security-ensures that no one can view a member's account information by accessing the cache file
  • encrypted URL-ensures that any account information that appears in the URL is not readable
  • SSL (secure sockets layer) protocol-allows for the transfer of digitally signed certificates for authentication procedures, and provides message integrity, ensuring that the data can't be altered during a transaction. In SSL protocol, Web addresses usually start with "https" instead of "http"

Q: What can I do to maximize the security provided for my account?
A: The e-Banking service has several effective security techniques that we encourage you to implement when you use the e-Banking service:

  1. Never reveal your password to anyone or leave your password anywhere that someone else can obtain and use it.
  2. Change your password on a regular basis.
  3. Logout to end each Internet banking session. Do not use the Back button to exit the site.
  4. Change your session timeout in User Options to a time that meets your needs.
  5. Balance your account on a regular basis. e-Banking makes it easy!

Q: What is the Roth IRA?
A: The Roth IRA is an after-tax contribution which has a back ended benefit of growing tax-free. After-tax contribution means there is no immediate tax deduction benefit.


Q: Are there restrictions to open a Roth IRA?
A: You can open a Roth IRA if your modified adjusted gross income is less than $184,000 for married joint filers and $117,000 for single filers. For married joint filers, if your modified adjusted gross income is between $184,000 and $194,000, you can still take advantage of opening a Roth IRA, however, your contribution limits will be impacted. Single filers with a modified adjusted gross income between $117,000 and $132,000 will also have limits to the amount of contributions you can make.


Q: What is a qualified distribution from a Roth IRA?
A: A qualified distribution can be taken from a Roth penalty- and tax-free. To qualify the Roth IRA holder satisfies a 5 years waiting period which begins January 1 of the first taxable year in which you made the contribution and one of the following events occurs: attainment of age 59 ½, disability, the purchase of first time home, or death. In addition, contributions can be withdrawn tax-free and penalty-free at any time.


Q: What is the maximum amount I can contribute to a Traditional IRA or Roth IRA?
A: Individuals not achieving age 50 may contribute 100% of earned income up to $5,500 up to the tax filing deadline for each year they have earned income. For those individuals age 50 and above, the contribution increases to $6,500 because of the "Catch up" contribution allowance. There is no age limit restriction on a Roth IRA.


Q: What is the deadline for making a contribution?
A: For both Traditional and Roth IRAs, you have until the tax filing without extensions. The sooner you make contributions, the sooner you could begin to shelter your earnings.


Q: Am I required to make contributions to my Roth IRA every year?
A: No. You are not required to make contributions to your Traditional or Roth IRA every year, nor are you required to make the maximum contribution in any year. Contribute as you wish, as long as you don't exceed the limits.


Q: How long can I make contributions to my Traditional IRA(s)?
A: You may make contributions for each year you receive wages, alimony or other compensation prior to the year you turn 70 ½.


Q: How long can I make contributions to my Roth IRA(s)?
A: You may make contributions for each year you receive wages, alimony or other compensation or you are the spouse of someone who is receiving one of those listed above.


Q: Can I open a Roth IRA at EFCU?
A: Yes. We offer a variety of options to meet your needs. To open a Roth IRA Certificate or Accumulator Account, contact Miranda at 812-424-2621 ext.228


Q: What is the Educational Savings Account?
A: The Educational Savings Account, also known as a Coverdell Education Savings Account, allows anyone to save tax-free for a child's K-12 and postsecondary education.


Q: Are there restrictions opening a Coverdell Educational Savings Account?
A: Yes. For married joint filers, if your modified adjusted gross income is between $190,000 - $220,000, you can still open an ESA account, however, your contribution limits will be impacted. Single filers with a modified adjusted gross income between $95,000 - $110,000 will also have limits to the amount of contributions you can make. The maximum contribution amount per child is $2000 per year. The child must be under 18 to receive the contribution to their account.


Q: What are the tax implications?
A: Money invested will grow tax-free. Non-qualified distributions are subject to tax on the growth portion and a 10% penalty.


Q: What if my child doesn't go to College?
A: An ESA account must be withdrawn by the time the beneficiary turns 30, unless the child is a "special needs child." Alternatively any funds remaining upon reaching age 30 must be either rolled over to a related qualified beneficiary or distributed to the beneficiary.


Q: Can I also make contributions to a traditional and/or Roth IRA?
A: Yes. The annual $2000 contribution will not affect your eligibility to put the full $5500/$6500 into a Traditional or Roth IRA.


Q: Are there other ways to save for my child's education?
A: An alternative way to save more for your child's education is with a 529 account. 529 Plan accounts do not have many of the restrictions that the ESA accounts have. They offer tax-free growth but are exclusively used to fund post secondary education expense.

Q: I really want to own my own home, but I'm not sure I can afford it. Where do I start?
A: Lots of people don't even consider buying a home because they're afraid they can't afford it. But for most people, home ownership is within reach. In fact, for many, home ownership is as affordable as renting - in some cases even more affordable! The best place to start is with our Mortgage calculator. Or call us today at 812.424.2621, option 4. A real estate consultant can walk you through the process and determine if you qualify.


Q: How do I know how much of a house I can afford?
A: Before you start looking at homes, you need to have some idea of what you can afford. As a general guide, you can purchase a home with a value of two or three times your annual household income, depending on your savings and debts. However, you may be able to take advantage of special loan programs to purchase a home with a higher value. If you'd like to know exactly how much you could afford, talk to your EFCU real estate consultant. Just call 812.424.2621, option 4.


Q: How do I know which type of mortgage is best for me?
A: There isn't a single, simple answer to this question. The right type of mortgage for you depends on many different factors:

  • Your current financial situation
  • How you expect your finances to change
  • How long you intend to keep your house
  • And how comfortable you are with your mortgage payment changing time to time

For example, a 15-year fixed-rate mortgage can save you many thousands of dollars in interest payments over the life of the loan, but your monthly payments will be higher. And an adjustable rate mortgage may get you started with a lower monthly payment than a fixed-rate mortgage - but your payments could get higher when the interest rate changes. The best way to find the "right" answer is to discuss your finances, financial plans, and preferences with your EFCU Real Estate Consultant.


Q: Do they really need to know everything about me for the application?
A: It may seem that way - but actually all your credit union needs to know about you is your employment status and finances, along with information about the home you're buying.

However, you will need to provide quite a few details about these topics, and your application process will go much more smoothly if you're prepared. Be sure to ask your credit union what information you'll need to complete your application.


Q: How much will my credit history affect my ability to get a mortgage?
A: Many home buyers are very worried about this issue. However, you can be better prepared if you get a copy of your credit report to review before you apply for your mortgage. That way, if there are any errors, you can take steps to correct them before you make your application. If you have had credit problems, be prepared to discuss them honestly with your mortgage specialist - and come to your application meeting with a written explanation.


Q: How much will I need for the down payment?
A: It's probably less than you think. Many buyers are surprised to learn there's no set answer to this question. Generally, though, your down payment can be anywhere from zero to twenty percent of the home's value.


Q: What does my mortgage payment include?
A: For most homebuyers, the monthly mortgage payments include four separate parts:

  • a payment on the principal;
  • a payment on the interest;
  • a payment for hazard insurance;
  • a payment for property taxes.

These elements are called P.I.T.I. (Principal-Interest-Taxes-Insurance). Also, loans with less than 20 percent equity require P.M.I. (Private Mortgage Insurance) as part of the monthly payment. For additional explanation, see Impound/Escrow under the Glossary of Mortgage Terms section.


Q: What happens after I've applied - and how long will it take?
A: Your credit union will begin the work of verifying all the information you've provided. This process can take anywhere from three to six weeks, depending on several factors. Within three business days after your application, your credit union must give you an estimate of your closing costs. (The closing is the actual settlement of your loan). You'll also get a statement that shows your estimated monthly payment, the cost of your finance charges, and other facts about your mortgage. For many home buyers, this waiting period can be tense. So, stay in touch with your credit union and be prepared to answer any questions that may arise.

Some home buyers find the closing process to be one of the most intimidating aspects of buying a home because it is so unfamiliar. Ask your credit union what to expect at your closing.

Q: What Is Save to Win?
A: It’s a special savings account at your credit union that helps you build your savings while also giving you chances to win $5,000 quarterly prizes, plus monthly cash prizes! Every time you save $25 in a Save to Win account, you get another chance to win — up to 10 chances every month. Plus, all the money you deposit into the Save to Win account is still yours, plus dividends. It’s savings — with benefits!


Q: How Do I Open An Account?
A: Simply request a 12-month Save to Win share certificate and make an opening deposit of $25. Your initial deposit is your first step to saving and is your first entry into the monthly and quarterly prize drawings. As you continue to make additional deposits into the account, you will accumulate more entries in the monthly and quarterly prize drawings. To participate, you must be at least 18 years or older, a legal resident of a prize-linked saving state, and a member at a participating credit union.

How Can I Earn Chances To Win? Every $25 deposited into your account, up to $250 per month, is another chance to win. You may make deposits of any amount into the account each month, but prize entries are limited to 10 per month.


Q: What Are The Prizes?
A: The real prize is the savings account you will build with regular deposits each month. But to sweeten the pot, thousands of monthly prizes and several quarterly prizes up to $5,000 will be awarded throughout the year. The winner will be notified by phone or mail. All Save to Win account holders at participating credit unions will be eligible for the prizes. Prizes will be deposited into the winners’ traditional share accounts. Official account and prize entry rules and a complete list of prizes are available at www.savetowin.org.


Q: What Is A SHARE Certificate?
A: A share certificate is a fixed-rate, fixed-term account issued by a credit union. You will earn a specified dividend if the certificate is held for the full term; in the case of Save to Win, the term is 12 months.


Q: What’s The Dividend Rate?
A: Please ask a Member Service Representative for the dividend on the Save to Win share certificate.


Q: Can I Withdraw Money From My SHARE certificate?
A: Yes, you are allowed to take one withdrawal from your Save to Win account in the 12-month period. A $25 withdrawal fee will apply.


Q: How Are My Prize Entries Calculated?
A: Each month, we’ll look at your current savings balance as compared to the previous month’s balance. You’ll receive one entry for every $25 increase. For example, if your Save to Win balance increases by $50, you will receive two prize entries for the month. Those prize entries will also be added into the quarterly prize drawing, giving you additional chances to take home one of the $5,000 prizes!


Q: Why open a Save to Win account?
A: Because you seriously have nothing to lose —and everything to win! Not everyone will win a prize, but with regular deposits into your Save to Win account all year, you are guaranteed to end up with more money saved than when you started.

Q: What is a Share Certificate?
A: Financial Institutions sell Share Certificates to members to raise funds to make new loans to others. When you buy a Share Certificate, you agree to deposit a fixed amount of your savings for a fixed period in exchange for an agreed-upon dividend rate.

In general, you deposit an amount that is equal to the face value of the Share Certificate. For example, if you buy a $1,000 Share Certificate, you pay $1,000 for it.


Q: What happens at the end of the term?
A: That depends on whether you've selected a compounding or non-compounding certificate. If you selected a compounding Share Certificate the institution repays your original deposit plus accrued dividends, unless you choose to roll over the Share Certificate for another term. In that case, you're likely to receive only accrued dividends.

If you have not selected compounding, you will have already received your dividends, and will then receive your original deposit back.

If you don't notify the institution by the Share Certificate's maturity date, it will automatically roll over the Share Certificate for another identical term at the current dividend rate.


Q: How is my investment insured?
A: Funds on deposit accounts at EFCU are federally insured by the National Credit Union Administration (NCUA) to at least $250,000.


Q: How are the rates calculated?
A: Share Certificates are advertised with a dividend rate and APY - also called the annual percentage yield. APY is a higher dividend rate than the stated rate because you are earning more on your certificate by letting the dividends compound.

The above information should not be interpreted as financial advice. For advice that is specific to your circumstances, you should consult a financial or tax adviser.

Q. What are my student loan options?

A. There are two types:

  1. Federal Student Loans – A federal student loan allows students and their parents to borrow money to help pay for college through loan programs supported by the federal government. They usually have low interest rates because they are capped by the government. The most common type of federal student loans are Stafford and PLUS loans.
    • Subsidized Stafford loans provide low interest rates and are available to students who demonstrate financial need based on income and other information provided on the Free Application for Federal Student Aid (FAFSA). A credit check is not required to receive these loans. The federal government pays the interest on these loans until six months after the student is no longer enrolled in school at least half time.
    • Unsubsidized Stafford loans provide low interest rates and are available to all students regardless of financial need (although the FAFSA still must be filed). A credit check is not required to receive these loans. The student is responsible for the interest, which may be paid while the student is in school or accrued and then added to the principal balance when the student enters repayment, which occurs six months after the student is no longer enrolled in school at least half time.
    • PLUS Loans can be obtained by parents to help pay the cost of education for their children. (Graduate students may obtain PLUS loans to help pay for their own education.) PLUS loans require a credit check and, in some instances, an eligible cosigner. Repayment of PLUS loans begins following the final disbursement for the year. Graduate students may be able to defer repayment of their PLUS loans until after the student is no longer enrolled in school at least half time, although interest will continue to accrue.
  2. Private Student Loans – Private student loans are meant to help students fill the funding gaps that federal aid can leave behind. Private loans should only be used when all other federal aid and low-cost sources of funding have been exhausted. Unlike Stafford loans, private student loans are held in the name of the student and often require a co-signer. They are issued by private lenders and are not guaranteed or subsidized by the government. Instead, the interest rate is based on the student’s credit and/or the credit of any co-signers they have on the loan.

Q. What are the steps I should take when requesting financial aid?


  1. Fill out the FAFSA online at www.fafsa.ed.gov. Please note that even though the FAFSA form is not part of the Credit Union Student Choice Loan application process it is required for the school certification process of the loan. Please consult your school's financial aid office if you need further assistance when completing the FAFSA.
  2. Find out what scholarships you may be eligible for (check with your financial aid office for scholarship listings) and then apply for as many as you can. Free money is always best so make sure you fully research scholarships and grants—you may be surprised at how many scholarships are available! While many will not pay for your entire tuition, every little bit you don’t have to borrow helps.
  3. Take the maximum amount of Federal Stafford Loans before applying for alternative loans. These loans are the most student-friendly. The government caps the interest rates and pays the interest for students on subsidized loans while in school.
  4. Choose a lender carefully if an alternative or private student loan is required. Ask questions and look at interest rates, origination costs and terms carefully. This is a long-term relationship and this loan will need to be repaid once you graduate or withdraw from school. Evansville Federal Credit Union is proud to partner with Credit Union Student Choice in offering certified private student loans.

Q. What type of loan is offered by Credit Union Student Choice?
A. A certified private student loan from Student Choice is a line of credit for undergraduate education. Providing incredible convenience, a line of credit allows you to apply just once and then make multiple draws over the course of your undergraduate college career. An annual credit review will be performed in order to authorize future draw requests.


Q. What exactly is the “certification” process and how does it affect me?
A. All requested draw amounts are certified by your school. During the certification process, your school will:

  • Verify your enrollment
  • Ensure that the amount you have requested meets your financial need based on the school’s cost of attendance and the other financial aid you’ve received
  • Indicate when the loan funds should be dispersed

After the loan has been certified, the funds will be disbursed directly to your school. If funding is sent by check, the check will be made co-payable to the school and student, and the student will be contacted by the school (normally through their school e-mail address) to endorse the check for deposit into their student account. If funding is sent electronically, the deposit will be handled directly by the school. For any excess funds that may remain after your direct school-related costs are paid, the school will issue a refund to you so that you may buy books or pay for other education expenses (such as off-campus room & board).


Q. What expenses are covered by this loan?
A. Like a federal student loan, a Student Choice private loan is meant to cover costs included in your school’s Cost of Attendance estimates. Typically these may include:

  • Tuition
  • Fees
  • Books
  • Room and Board
  • Other Related Expenses

Q. How do I determine the amount of my private student loan?
A. The amount of your private loan should be based on the cost of attendance minus the other financial aid (federal loans, scholarships, grants, etc.) you have already received.


Q. What are the loan limit amounts?
A. The minimum loan amount is $1,000. The maximum loan amount (throughout your undergraduate college career) is $75,000.


Q. Is a co-signer required for a Student Choice private loan?
A. No, a co-signer is not required.


Q. What schools are eligible for this loan?
A. You are eligible for a Student Choice loan if you are attending almost any four-year public or private non-profit school that offers a degree-granting program (Title IV). For a complete list of participating schools (nearly 2,000), click here.


Q. What schools are NOT eligible for this loan?
A. If you are attending a Community College or For-Profit school, you are not eligible for this loan.


Q. What other requirements are needed to apply?
A. Students must be enrolled at least half-time in a degree or certificate program. International students can apply, but the co-signer must be a U.S. citizen or permanent resident who has resided in the U.S. for the previous two years.


Q. Do I need to be a member of the credit union to be eligible for a Student Choice Loan?
A. Yes, in order to fund the loan, you will need to be a member of the credit union. If you are not already a member, visit your credit union branch or apply online while we are processing your loan so funding can be completed as quickly as possible.


Q. What are the repayment terms of the loan?
A. While you are in school, you have several options, including:

  • Full deferment of principal and interest*
  • Interest-only monthly payments
  • Principal and interest monthly payments

*During deferment, interest on the loan will accrue. Mandatory repayment begins six months after the student graduates or separates from the school. Please note that unpaid interest will be capitalized at the end of the 6-month grace period and added to the original principal balance. Monthly payment is based on final loan balance and repayment choices.

As repayment begins, you will have two options:

  • Straight repayment over 20 or 25 years. If the loan balance is under $40,000 the loan repayment period is 20 years. If the loan balance is above $40,000 the loan repayment period is 25 years. or
  • Graduated repayment for two years. The graduated repayment option temporarily lowers monthly payments by amortizing the first two repayment years over a 40 year period and then over either 18 or 23 years for the remainder of the loan, depending on the loan balance as described above.

Q. Is there a pre-payment penalty?
A. No. You can pay off your Credit Union Student Choice Loan at any time, even if you're still in school.


Q. What is the interest rate on the loan and how is it determined?
A. The interest rate on your Student Choice loan will be extremely competitive, as it is set by your credit union. While it is important for the student to have a good credit score, the interest rate will be determined based on the credit score of the co-signer. Similar to most private student loans, the rate is indexed on the 1-Month LIBOR (London Interbank Offer Rate) and is variable, meaning it can adjust on a quarterly basis depending on the LIBOR.


Q. Is there any way to reduce the interest rate?
A. Yes! By choosing automated payment during your repayment period, you will receive a 0.25% discount on your interest rate.


Q. Is there a loan origination fee?
A. NO! Unlike almost all other private student loans which feature originations fees of 4 to 6%, a Student Choice loan has no origination fee, saving you hundreds of dollars.


Q. Are there any fees?
A. The only fees associated with a Student Choice loan are a non-sufficient-fund fee of $20 and a late payment fee of $15, both of which are substantially lower than most others.


Q. Can the co-signer ever be released from the loan?
A. Yes. With automated payment and 48 consecutive monthly on-time payments, the co-signer may request to be released. However, the primary borrower must be credit-worthy and meet the following criteria:

  • 680 minimum FICO (Fair Isaac Credit O – credit score)
  • $18,000 minimum annual salary
  • 45% debt-to-income ratio maximum
  • No bankruptcies, judgments, or student loan defaults

Q. How do I apply for a Student Choice private loan?
A. You can apply online. Instant approval is possible!


Q. What happens after I’ve been approved?
A. After you’ve been approved for a loan, you must download an application kit or request that it be mailed to you. Upon receipt of this kit, you will need to review the materials and then return all required documentation via mail or fax. The submitted documents will be reviewed for accuracy. If there are any issues, you will be contacted by our loan processing department. Once the documents have been approved, the loan request will be sent to the school for certification. Upon certification, the funds will be disbursed as directed by the school.


Q. How quickly can I get the funds?
A. With our online application, downloadable credit agreement and fax-back option, the credit union could have the funds ready in as little as seven business days after your conditional approval. However, the exact timeline for disbursing funds will be set by your school in coordination with Student Choice.


Q. How are Credit Union Student Choice Private Loans different than those from other lenders?
A. Unlike for-profit lenders, your credit union exists only to serve the best interests of its members. This allows us to offer lower loan rates and fees than other, more traditional "private" lenders. The most important differences for you are: zero origination fees, more flexible repayment terms and lower overall loan rates. In addition, co-signers may be released from the loan after 48 months of on-time payments. The bottom line is that Credit Union Student Choice Loans were created with one goal in mind – helping you finance a higher education without a higher price tag.