More Questions?
Need Clarification?
Call us at
812-253 MYCU(6928)
Q: How will I be able to view my Heritage Federal Credit Union mortgage escrow balance after the Data System Upgrade?
A: Mortgage Escrow Share Accounts will no longer be referred to as a Club Account. All mortgage escrow account information will be housed within the new mortgage servicing system. Members with a mortgage escrow account can find their escrow information on their member statement, via Online Banking or via Telephone Banking.Q: If I make additional loan payments to my loan what happens to my next due date?
A: Additional loan payments to your loan will be applied to the outstanding principle on the loan and does not impact the next regularly scheduled due date. Example: If your regularly scheduled loan payment is $100 and due on 12/1/09 and you make a $500 loan payment on 12/1/09 the extra $400 will be applied to the outstanding principle of your loan. The next regularly scheduled loan payment due date will be 1/1/10. The extra money applied to your loan does not advance your loan payment date past the next regularly scheduled loan due date. If you need to discuss other payment arrangements please contact the Information Center at (812) 253-MYCU (6928).
Q: Will the data system upgrade affect the processing of my mortgage payment?
A: If your mortgage payment is received on 10/31/09-11/3/09, it will not be processed until 11/4/09 but will be credited so that the principle and interest split appropriately.
Q: Can I make my mortgage payment via Online Banking or Telephone Banking during the DSU between 10/31/09 – 11/3/09?
A: No, the mortgage system will not be fully functional until 11/4/09. On or after 11/4/09 you may make your mortgage loan payment via Online Banking or Telephone Banking.
Q: Will the format of my mortgage loan coupon or consumer loan payment book change?
A: Yes. We will enhance the format of the coupons and coupon books that Heritage Federal Credit Union provides to our members. The same vital information will still be located on the coupons, but the coupon will be easier to read. If members have existing coupons, those will not change. Only when new coupons are produced will members see the enhancements.
Q: When will Heritage Federal Credit Union’s online consumer loan application system be available?
A: We plan to replace our existing online consumer loan application system with an updated version at a date in the future (after the data system upgrade). Our website will have the online loan application available after it is launched. Please visit our website at www.hfcu.info to check on the availability of the new online consumer loan application.
Q: Will HELOC checks still be limited to $500 or more?
A: No. HELOC checks will now be accepted for any amount.
Equal Housing Lender