Electronic Services That Make Your Life Easier
Did you know that First Pioneers offers a variety of electronic services that will make your life easier? Most of you know we have a mobile app that helps you manage your accounts, but I mean the other services that you may not be aware are available to you.
1. Bill Pay – This is a big one! We talk a lot about paying your bills on time as that makes up 35% (the largest percentage) of your credit score. If you are finding yourself always late paying your bills or forgetting to pay them, consider signing up for bill pay. Look, we all know things happen. You are at work or out of town or just plain busy and suddenly the due date has come and gone. It happens to everyone. But there are ways to help that now.
At first pioneers you go to your online banking and you can sign up there. You can basically designate the days you want your bills paid. For example, your car note or your cell phone bill. Then, on the day you chose, the payment will be sent. If you do this for the proper due date, you won’t be late anymore. This can be a huge help to get you on time and if you’ve been struggling, it will raise your credit score in no time.
NOTE: Remember, the money you need to cover the bill needs to be in your account before it’s due to be paid.
2. Courtesy Pay- How many of you have written a check, or used your debit card and you didn’t have the money in your account to cover the purchase? Maybe it was close to payday or you just subtracted wrong when you balanced your account and there wasn’t enough in your account.
A situation like that can not only create issues and it may leave you feeling a little embarrassed. No need to feel embarrassed! It’s happened to all of us! But when have courtesy pay on your checking account, transactions that go over your balance will still be paid, up to $500. Now there is a $25 fee for each of those transactions, but whatever you are trying to purchase will still go through.
NOTE: Courtesy pay can be a slippery slope. It can help you if are in a bind and just made a simple error, but those transaction fees can add up. If you are already overdrawn in your account and then start adding those fees, you end up further behind. Don’t use it as a crutch. We’ve seen many people know they don’t have the money to cover a purchase but they know their courtesy pay will cover it so they do it anyway and they do it month after month. It becomes a habit and its costly. If you find yourself in that situation, sit down and work out a budget so you can stop that cycle. With that budget you can see if you are falling short somewhere that is causing you to go in the negative and hopefully adjust your spending or your income to prevent it.
The credit union is a judgement free zone and we are happy to help you work on that or find a sample budget online to help. You can even use an APP. Don’t it become a bad habit.
3. Direct Deposit – This allows your employer to deposit your paycheck directly into the account of your choosing for you. You can even request deposits into multiple accounts. For instance, you can split your money between your checking and savings accounts. Or even multiple savings accounts. It’s a great way to help you save and budget. If you are cashing your check, it’s easy to spend the cash. This way you can track your spending and see your balance in your account.
NOTE: All you need is your account numbers. Then go and speak with your HR department to help. Not all companies offer direct deposit, but most do.
4. Remote Deposit Capture – That’s basically a really big title for deposit with your phone and the app.
You open the mobile app and choose the remote deposit option. From there you will take a picture of the front and back of the check and follow the instructions on the screen, it’s super easy.
One thing to remember, sign the check the way you are asked. For First Pioneers, you sign your name then add “for mobile deposit only @ FPFCU” or you can write out First Pioneers Federal Credit Union if you really want to.
NOTE: The money may not be available right away. It depends on when it was deposited and if there are any questions about the check. So check your balance before spending the money.
Also, don’t get rid of the check until you know that’s its been deposited. Then write VOID across it and keep it for your records. This way you don’t try to deposit it twice or if something does go wrong, you still have the copy. We recommend holding for about a month.
Remote deposit capture can make your life easier and save you time so it’s worth giving it a try, but if you need your funds quickly, we would recommend coming into a branch to make the deposit.
5. E-statements – Many people just don’t think about signing up for e-statements, but it can make you life easier. For one, if you sign up, it can equal waived fees on your checking account. It also makes the statements easy to access. Saving all that printing and having to wait for the mail is a plus too!
6. Zelle – Zelle is an app where you can send money to friends or family. It’s called a peer to peer app. So if you owe someone for a meal or you need to send your child money, it’s a great option that is fast and easy.
There is a $1000 limit per transaction, per day so keep that in mind depending on how much you need to send.
NOTE: Know who you are paying on zelle. These apps aren’t made for business transactions. They are meant to be used with people you know and trust. Some of these types of apps have a business version, so be aware of what type of app you are using and who you are paying. It can be an easy way to get scammed if you aren’t careful. Technology can make things easy, but we must still be diligent about protecting ourselves.
BONUS TIP:
1. When your contact information changes, like your address, phone number or email address, make sure to let your credit union or bank know of the changes. You can actually make the changes yourself when you log into online banking. Having your current information helps us communicate with you when something is needed.
2. Make sure you are still protecting your information and protecting yourself. This includes things like not giving out your online banking info for others to log in. NEVER share that info.
As always, if you have questions, we are here to help!