Time-Saving New Loan Payments Feature
In response to member feedback, SLFCU has introduced the ability to make payments on most types of SLFCU loans directly from external (non-SLFCU) sources in online and mobile banking. Members no longer need to first transfer funds from an external account into their SLFCU checking or savings account and then transfer those funds to their loan to make a payment.
Following are the steps to set up an external account in online or mobile banking. Verification can take up to three days. After that and going forward, you can transfer funds directly from that external account to make payments on your SLFCU loan.
- Online (desktop) banking: Hover over Transfers & Pay Bills and click Transfers, select the More Actions tab, and click Add Account. From there, click "Add an account manually" and follow the steps to add the external account.
- Mobile banking: Tap on Transfers, tap “Add Account”, and then on “Add an account manually” and follow the steps.
Our maximum total transaction amount per day, per account is $2,500. If you need to make a loan payment of more than that amount, and/or if your total payments and/or external transfers total more than $2,500 in a single day, you will need to separate your payments over a few days. Payments made after business hours or on weekends will be processed on the following business day.
Questions? Visit our FAQ below or call us at 505.293.0500 (Monday through Friday from 7:30 a.m. to 6:00 p.m. MT; Saturdays from 8:30 a.m. to 2:00 p.m. MT), visit a branch, or send us a secure message in online or mobile banking.
FREQUENTLY ASKED QUESTIONS
Yes! In response to member feedback, SLFCU recently introduced the ability to make payments on SLFCU personal and auto loans directly from external (non-SLFCU) accounts in online and mobile banking. Members no longer need to first transfer funds from an external account into their SLFCU checking or savings account and then transfer those funds to their loan to make a payment. Note: Verification can take up to three days. After that and going forward, you can transfer funds directly from that external account to make payments on your SLFCU personal or auto loan. SLFCU auto loans and most personal loans can be set up from an external account. SLFCU business loans are not currently set up for this option. Additionally, most mortgage and credit card payments already offer the ability to accept payments directly from external accounts through separate areas within online banking. Transfers made from an external (non-SLFCU) account in the "From Account" field to an SLFCU product in the "To Account" field will be posted (that is, credited to the account) after 5:00 p.m. Mountain Time on business days Monday through Friday. Such transfer requests made after 5:00 p.m. Mountain Time will be posted the following business day. Daily limits are $2,500. The monthly cumulative limit is $20,000. Because our maximum total transaction amount per day, per account is $2,500, if you need to make a loan payment of more than that amount, and/or if your total payments and/or external transfers total more than $2,500 in a single day, you will need to separate your payments over a few days. Because verification of a newly added external account as a transfer source can take up to three days, please make your payment as you already have been doing if it is due in less than that time. We recommend setting up your external account as a payment source now so you are ready to use it for your next loan payment. Call SLFCU at 505.293.0500 (Monday through Friday from 7:30 a.m. to 6:00 p.m. MT; Saturdays from 8:30 a.m. to 2:00 p.m. MT), visit a branch, or send us a secure message in online or mobile banking.
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