Online Loan Payment Disclosure

Online Loan Payment allows members to make a one-time loan payment or set up a recurring loan payment with funds from another financial institution through the WNY FCU website.

Benefits of WNY FCU’s Online Loan Payment Service:

• No checks to write or envelopes to address
• No postage cost
• No worrying about lost payments or mail delays
• Eliminates late payments or resulting fees

Online Loan Payment Disclosures:

• Online Loan Payment transactions may not exceed a $1,000 maximum limit.
• In order to initiate an Online Loan Payment with WNY FCU, the online form must be completed and submitted at least 5 business days before the payment is due.
• Any informational errors by the member on the online form will be the member’s liability.
• For changes or to stop a recurring payment, please contact the Credit Union. A one-time stop for recurring payment is allowed for emergency/unforeseen situations ONLY.
• Termination or change of a current Online Loan Payment must be done 5 days before the transaction is to take place by contacting the Credit Union.
• Termination initiated by WNY FCU of an Online Loan Payment can be done at any time and notification will be given to the member.
• The authorization is to remain in full force until WNY FCU has received notification of its termination.
• Transactions scheduled for a specific day of the month and the day falls on a Saturday, Sunday, or a Credit Union holiday will be processed the next business day.
• Any transaction that is processed and funds were not available on either the debit or credit side will be charged the current non-sufficient funds fee listed on the fee schedule.  In order to reduce the chance of an NSF transaction, funds need to be available in your account the day before the transaction date.
• WNY FCU has the right to resubmit NSF transactions up to 3 times or to reverse the transaction.
• This service is available to members who are and remain in good standing with WNY FCU.
• WNY FCU Online Loan Payment program is for domestic transactions only.
• All transactions are subject to the NACHA Operating Rules and applicable U.S. law and may from time to time need to temporarily suspend processing of a transaction for greater scrutiny that may result in delayed settlement and/or availability.
• Online Loan Payments are only to make payments from accounts at other financial institutions that belong to you.
• Member is a primary or joint owner of an account at WNY FCU.