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We have compiled a list of frequently asked questions to help serve
you better. You can search by category or scroll through and search
all. If you do not find an answer to your question here, feel free
to contact us.
Membership Questions
What is a Credit
Union?
We are a not-for-profit financial institution, meaning we return
our earnings to you, the member, in the form of lower fees, higher
savings rates and better loan rates with no application fees. Our
members are our shareholders; we work for each and every one of
you, not some snobby, old board of directors with big paychecks
funded by your fees. In fact our Board of Directors are all members
just like you who volunteer their time to be on our Board. What
a concept, huh? A place where people still work for the benefit
of people.
Why do I have to
be eligible to join your Credit Union to open an account?
Because we are a not-for-profit financial institution, we
do have membership restrictions imposed on us. Credit unions serve
people who share a common bond. That could be the place where you
live (community), your work, church or other organization you belong
to. All credit unions have a unique field of membership they serve.
If you would like to see if you fall into ours, see our membership
page.
Who can join your Credit Union?
Anyone who is in our field
of membership may join our Credit Union.
Why is the community
area you serve only the downtown areas of Portland, OR?
The community area we serve is based on census tracts set
by our Board of Directors and our regulator, the National Credit
Union Administration. Our community area was chosen to serve people
who may not have access to credit unions and affordable ways of
banking.
How do I apply for
Membership?
It's simple. If you fall into our field of membership, simply fill
out and print our online
application, or e-mail
us to have one mailed to you. If you have questions about membership,
you can visit our membership
page, or contact us at info@nrfcu.org
or 503-220-2592 or 800-942-9408 in OR & WA.
My company doesn't
have a credit union serving them. How can I have Northwest Resource
FCU serve my company?
If your company would like to have Northwest Resource FCU serve
as its credit union, contact our Marketing
Department at 503-220-2592 or 800-942-9408
in OR & WA.
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Account Questions
How can I set up
Direct Deposit?
Setting up direct deposit to your savings or checking account is
easy. Simply print and fill out our online direct
deposit form and return it to your company's payroll
department.
How do I set up
Payroll Deduction for my savings or loan payment?
Payroll Deduction can be set up by using internal transfer records
for money to be distributed to your savings or loan payment. Please
contact a Financial Service Representative or our Accounting Department
for more details.
How do I wire money
somewhere?
Outgoing wire transfers can be done from your account. You will
need to provide adequate information in order to perform a wire
including the destination account's routing and transfer number.
Please feel free to contact our Accounting Department for specific
instructions.
Why do I have to
open a savings account to have a checking account?
Each account is required to have a savings account with a $5 minimum
balance in it to identify a member's ownership in the Credit
Union. Because credit unions are member
owned, each member has a $5 share of the Credit Union and is therefore
an equal owner.
Why did I get charged
an NSF fee when I had money in my account?
NSF fees will be charged on an account that has money being held
and the available amount is not sufficient to cover the check
trying to clear. Holds on your account can occur from using your
check card or depositing certain checks. To avoid NSF fees, always
keep track of check card purchases and your available balance. Note
any holds on check deposits you make at the Credit Union as well.
Holds on deposits will be reflected on your receipt.Remember,
you can also set up overdraft protection to avoid NSF fees. Call
the Credit Union to set up overdraft protection on your checking
account. 503-220-2592 or 800-942-9408 in OR & WA.
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Loan Questions
Why does the Credit Union use NADA Book values
instead of Kelly Blue Book?
NADA Appraisal Guide is a more conservative book in evaluating the
market value of a vehicle. We feel this is a benefit to our members
in not paying an inflated price on a vehicle.
Why can't a joint member apply for a loan
without having to open a new account?
To apply for a loan as individual credit you must be a member and
the primary account holder. You cannot request a loan as an individual
on another member's account.
You can be a joint applicant with a primary account holder(applicant)
when you apply for a loan with joint credit.
What is a secured vs. unsecured loan?
A secured loan means you have given the lender something of value
to hold as collateral until you pay your loan in full. This can
be many things: car titles, boat titles, savings, home titles, stock,
etc. You generally receive better rates of interest than unsecured
loans. As an example, car loans are what most everyone is familiar
with. The lender keeps the physical paper car title. The lender
is listed as the lien holder on the form and through the DMV records
until the loan is paid off. The lender then will sign off the car
title and release it to the borrower. If the loan is not paid as
agreed and is in default, the lender can take the collateral, sell
it and apply the dollars from the sale to the balance of the loan.
An unsecured loan has no collateral. Interest rates on these loans
are generally higher than loans with collateral due to the higher
risk involved for the Credit Union.
How can I get a loan payoff?
You can come in or call the Credit Union to get payoffs on all loans
including Visa. Our Call Connection and Online Banking will provide
you payoff's on all loans EXCEPT VISA.
When will I get my car title after I pay off
the loan?
Titles are released automatically to members after 10 business days,
usually sent through the mail. Should you need your title sooner,
you are welcome to contact a loan officer to make other arrangements.
Why does my payroll deduction still continue
after my loan is paid off? Where does it go?
Your payroll deduction will continue to come to us until you request
a change or stop it. Once a loan is paid off, the money will automatically
be deposited to your savings account.
Why is my Visa credit card information in
the loan section of online banking?
A Visa credit card is a loan product. It is a revolving line of
credit and is included in the section with the other loans.
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Check Card/ATM Card/Credit
Card Questions
Why is there a hold on my account when I use
my Check Card?
When you use your card with a merchant, an authorization is given
to that merchant approving the transaction. A hold is then placed
on the same amount of funds in your checking account that will be
released when the transaction is posted (generally 1-3 days).
Why is my Visa Credit Card information in
the loan section of online banking?
A VISA credit card is a loan product. It is a revolving line of
credit and is included in the section with the other loans.
Why won't my card work if I know I have money
in my account?
We update available balances daily with the network. When you make
a deposit to your checking, that balance might not be updated with
the VISA network until the next business day. If you need to access
the funds immediately, you may go to any ATM or POS merchant, as
they are live transactions. They know what is in your account all
of the time.
Why did the ATM keep my card?
In most cases, it's because the card has expired. In some instances
the ATM machine may have an internal problem and it will, unfortunately,
capture the card it is trying to do a transaction for. It will also
capture your card if it is broken or bent. ATM Machines will capture
any card we have reported as lost or stolen as well.
Why does the ATM give my card back after I
put it in?
The ATM may be out of service or your card is demagnetized. It's
important to keep your plastic cards separated, as they can demagnetize
each another.
How much money can I get from the ATM per
day?
Generally, the daily amount is $205 if you have a savings only account
or a Value checking account. If you have a Premium checking account,
the daily amount is $305.
How long does it take to get my ATM Card,
Check Card, or Visa Credit Card?
It usually takes 7-10 business days to get your card.
Can I rush order a card?
We will gladly have your card rushed but at your expense. If you
would like your card in 3-4 business days, you can pay a $25 fee
to have it rushed.
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Online Banking Startup/Password
Questions
Is my access code
the same as my PIN number?
No. Your PIN number for your ATM, Check or Credit card is
not the same as your online banking password. You will need to call
the Credit Union to set up your online banking password. You can
choose any password you want between 4 and 20 characters or numbers.
503-220-2592 or 800-942-9408 in OR & WA.
How do I get a
password to use online banking?
To protect your account, you will have to call us during business
hours M - F 9:00 a.m. to 5:30 p.m. PST to receive a password. For
security purposes, we cannot accept password requests via e-mail.
503-220-2592 or 800-942-9408 in OR & WA.
I forgot my password?
How do I get a new one?
Call the Credit Union during business hours, M - F 9:00 a.m. to
5:30 p.m. PST to get a new password assigned to you. 503-220-2592
or 800-942-9408 in OR & WA.
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Online Banking Usage Questions
I tried to access
my account and I was told it was frozen. How do I fix this?
For security purposes, we only allow 3 failed password attempts
on your account before our system will "freeze" it. This
is to ensure that someone who is not authorized to be in your account
is not trying to access it. To unfreeze your account, call the Credit
Union during business hours, M - F 9:00 a.m. to 5:30 p.m. PST and
talk to a Financial Service Representative. 503-220-2592 or 800-942-9408
in OR & WA.
Why does it show
an available balance on my accounts and an actual balance?
The available balance reflects any holds from check card purchases
or minimum balance requirements on your account. This is the amount
that you have available to you. The actual balance shows all funds
including holds that have not cleared your account or any minimum
balance requirement. For example, if you have $50 in your savings
account, your actual balance will reflect the full $50 but you available
balance will only show $45 because you have a $5 minimum balance
requirement on that account.
What is the message
board?
The message board allows you to leave the Credit Union messages
directly from your account without using e-mail. You can leave us
questions about your account, general questions or suggestions about
online banking. A member service representative will respond to
your message by the next business day.
How do I get a
payoff amount on my loan?
You can receive loan payoff amounts through online banking by clicking
on the loan information screen. There is an option for payoff amounts
for your loans. You can even post-date a payoff amount if you will
be mailing a check. Please note, if you want to pay off your Visa
credit card, you will need to call the Credit Union directly for
an accurate payoff amount. 503-220-2592 or 800-942-9408 in OR &
WA.
Why is the Visa
credit card information in the loan section?
Visa credit cards are actually loans. Credit cards are like unsecured
lines of credit. Each time you use your credit card, you are accessing
a line of credit with a promise to pay it back. Visas, however,
are unique in that they offer a grace period on purchases wherein
you will not need to pay interest if paid in full before the grace
period ends. For more questions about Visa credit cards, please
call the Credit Union at 503-220-2592 or 800-942-9408 in OR &
WA.
Can I transfer
money to other accounts at the Credit Union?
Yes, but you must first set up the ability to do so by calling the
Credit Union at 503-220-2592 or 800-942-9408 in OR & WA. We
can set up your account to transfer to other accounts you have at
the Credit Union or to other members. However, if you are not on
the account you wish to transfer money to, you can only send money
to that account and not receive any back unless the other member
has contacted us to do so. Contact a member service representative
for details.
When I transfer
money between two accounts, why does the New Balance information
appear only on my account and the other one shows it starred out
(*******)?
You can transfer money into accounts that you may not be an owner
on; for example, to your child's or sister's account. By law we
cannot disclose any account information to someone who is not an
owner of that account. Since our system is not able to determine
if the person performing the transfer is actually an owner of the
destination account, we must block out the balance information of
the destination account on all transfers performed outside of the
account that is logged in at the time. If you would like to know
the balance of the destination account after a transfer, you will
have to log out and log back into that account with the password.
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Online Banking Security Questions
Is online banking
secure?
Yes. We provide secure financial services through a protocol
known as the Secure Sockets Layer with the highest level of encryption
available in the United States. The Secure Sockets Layer prevents
other computers from eavesdropping by encrypting all data transmitted
between our site and your computer. People trying to see your information
would see each packet of information as a meaningless jumble of
bytes.
What can I do to
help protect my account?
Above all else, keep your password private. Memorize your password
and do not write it down or leave it lying around. Change your password
often, especially if you access your account from work or a busy
area. Also, use passwords that are not easy to guess, such as your
birth date or a child's name. Make your passwords more secure by
choosing something a person would not guess in 3 tries. You can
also combine characters and numbers for a more secure password.
Why does my password
automatically pop up when I type in my account number? How do I
turn this off?
This feature is called "AutoComplete" and is available
in Internet Explorer and should be turned OFF to keep your
account from being accessed by someone without permission. It is
easy to turn off by following these steps:
- In Internet Explorer, click on the "Tools Menu"
- Click on "Internet Options"
- Click on "Content" tab
- In the personal information area, click on the "AutoComplete"
button
- Uncheck the box for "user name and passwords and forms"
- Click "OK" then "OK" again.
Why
does it tell me that my "page has expired due to inactivity"
when I try to click on something?
For security purposes, if you are logged into your account and do
not click on anything or perform any transactions/inquiries for
10 minutes, your session will automatically end. This is a built-in
feature to protect your account from staying open if you walk away
from the computer and forget to close your session. To begin a new
session, click on the restart session link and retype your account
number and password. Remember, it is always best to use the "end
session" button whenever you are finished with online banking.
The auto turnoff is a security precaution only. It is best to end
all sessions when not in use.
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