Auto Loan FAQs
- Is there a fee to refinance my vehicle loan?
- How long does an auto refinance take?
- Will you need my title to refinance my auto loan?
- What if I can't find my title?
- What are the penalties for closing my Certificate early before the maturity date?
- What fees are assessed for moving my IRA to OECU?
- Are there any maintenance fees for having my IRA with OECU?
- What is the benefit of having my money in a certificate as opposed to keeping it invested in a savings?
- What is the benefit of having my money invested with OECU as opposed to having it with an Investor?
Checking Account FAQs
- How long does it take for a debit card purchase to post to my account?
- How long will it be before my check deposit is in my account?
- Why was my check placed on hold?
- What if I forget my password?
- What if I forget my user ID?
- What if I forget the answers to my security questions?
- Does eBranch work with Quicken?
- Is the Internet safe and secure for online banking?
- Exactly what equipment and software do I need to access eBranch?
- Can anyone else see my account information?
- What types of accounts are included on eBranch?
- Can I have more than one checking account linked to eBranch?
- How current is this information?
- I can view other areas of your website but I can't get into eBranch. What's wrong?
- How much does it cost to use ePay?
- What if eBranch goes down? Will my payments be made, will my transfers go through?
- What if I don't sign up for Bill Payment initially and later decide that I want to sign up?
- Should the payment date I give be the date the payment is actually due?
- How soon are the funds actually taken out of my account?
- What happens if I don't have enough money in my account to cover a bill payment?
- When and how are my payments delivered and how can I ensure that my payee receives my payment on the due date?
- Why does it take a few days to process payments?
- What should I do if a payee has not posted my payment?
- How can I prove payments and transfers were made?
- How will the payments be made?
- Can I choose the method of payment?
Real Estate FAQs
- What are the rates?
- What will it cost to refinance my home?
- How do I know if I qualify for a home loan?
- What is the difference between a Pre-Qualification and Pre-Approval?
- How long will it take to complete my loan?
- Will you finance properties in my location?
- Will my loan be sold?
- What are all these fees on other Good Faith Estimates?
- How much do I have to put down to purchase a home?
- Will you finance mobile/manufactured home?
- Why did my escrow payment go up?
- What are all these forms that you have given me with my application?
- Why did the teller not look at my driver's license?
- I have never had to fill a withdrawal slip out before, why do I have to now?
- I mailed in my check for a loan payment, but it wasn’t processed properly.
VISA Debit Card FAQ
- Do I have to pay a fee to have a Debit Card?
- How often can I use my Visa Debit Card?
- Where can I use my OECU Visa Debit Card?
- What do I do if I lose my Visa Debit Card?
- How much money can I lose if someone steals my Debit Card and uses it?
Auto Loan FAQs
Is there a fee to refinance my vehicle loan?
No, but we will need to send $25 to a tag office to get a new title printed and the new lien entered. We usually include this in the loan amount.
How long does an auto refinance take?
Not long at all. Most of the time we can finish up the refinance the same day you apply. We just need an approved application, a couple of signatures, your payoff amount from your current lender, and your title.
Will you need my title to refinance my auto loan?
Yes. If you have an Oklahoma title and want to refinance your auto loan, we will need your actual title to enter a new lien.
What if I can't find my title?
No worries. All you need to do is contact your local tag office and apply for a lost title. It usually takes about a week to get another one.
What are the penalties for closing my Certificate early before the maturity date?
A penalty may be imposed if you withdraw any of the principal before the maturity date. For all Share Certificate Accounts up to 12 months, the amount of the early withdrawal penalty is dividends earned, up to 90 days. For all Share Certificate Accounts over 12 months, the amount of the early withdrawal penalty is dividends earned, up to 180 days. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: 1. When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction. 2. When the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after the establishment; or where the account is a Keogh Plan (Keogh) provided that the depositor forfeits an amount of at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59-1/2 or becomes disabled.
What fees are assessed for moving my IRA to OECU?
No fees at all from OECU. If you do a rollover from another institution to OECU, you are not subject to any taxes. The other institution might impose fees, but that’s up to their discretion.
Are there any maintenance fees for having my IRA with OECU?
No. OECU does not charge ANY maintenance fees for having your IRA established with us.
What is the benefit of having my money in a certificate as opposed to keeping it invested in a savings?
A certificate is going to earn a fixed rate for the entire term, as opposed to a savings account having a fluctuating rate. No matter what happens to certificate rates, you are guaranteed the rate that you lock in at for the entire term.
What is the benefit of having my money invested with OECU as opposed to having it with an Investor?
With OECU, your money is always local, and always accessible by calling us. There is no risk of ever losing your principle balance when you invest with OECU.
Checking Account FAQs
How long does it take for a debit card purchase to post to my account?
It depends on the merchant but typically within 48 hours.
How long will it be before my check deposit is in my account?
You deposit is available immediately if it is not placed on hold.
Why was my check placed on hold?
Government Regulations (Reg CC) dictates how much of a check can be placed on hold and how long that hold can be. OECU trains all staff to follow government regulations when processing checks. In most cases, a check is placed on hold due to either non-matching funds in the member’s account or the total deposit being over $5,000. Upon account opening we provide deposit hold regulations to members, and are more than happy to go over the specifics upon request. Exceptions can be made by supervisors only. These regulations help protect the member (IE: cashing a fraudulent check given to them) and the credit union from losing money.
What if I forget my password?
Log in using your account number or user ID. When the system prompts you for your password, select “forgot password” from the options at the bottom of the screen.
What if I forget my user ID?
Please contact the OECU Phone Center at (405) 606-6380 or 1-877-677-6328
What if I forget the answers to my security questions?
Please contact the OECU Phone Center at (405) 606-6380 or 1-877-677-6328.
Does eBranch work with Quicken?
Absolutely. eBranch was designed to be highly compatible with this popular software. We have achieved this compatibility by building an industry-standard Quicken Interchange Format (QIF) downloading capability right into eBranch. You can access the downloading capability from the Reports screen.
Is the Internet safe and secure for online banking?
Yes. We use 128-bit encryption: Secure Socket Layer 3.0 (SSL) for all communications. This is currently the highest level of security available for Internet transactions.
Exactly what equipment and software do I need to access eBranch?
You will need an Internet Service Provider (ISP), a modem (the faster the better, but at least 28,800 baud is recommended), and Browser software which supports Secure Sockets Layer (SSL) encryption.
Can anyone else see my account information?
No. Your online account information is available through access methods that have been rigorously tested for security accessibility. The information is not public. Only you can access it using your Sign-On ID and Pass Code. You can help safeguard your information and the banking systems by protecting your Sign-On ID and Pass Code. A proper combination of your Sign-On ID and Pass Code is the only way to get access into your account. Please be careful to keep this information secure and Signoff.
What types of accounts are included on eBranch?
You can access the following types of accounts: Checking Accounts Savings Type Accounts Loan Accounts CD's/Investment
Can I have more than one checking account linked to eBranch?
Yes. You can link all of your checking accounts to eBranch.
How current is this information?
All transactions and balance updates are performed once each business day. Therefore, any transactions you perform today that change your balance (i.e. deposits, ATM withdrawals, etc.), will be shown in your balance on our next business day. Certain ATM transactions can take longer periods to clear, and will not be deducted from your account balance until they have cleared.
I can view other areas of your website but I can't get into eBranch. What's wrong?
If you are able to view other areas of our web site, but are unable to access eBranch, it may indicate that you are having a problem accessing secured sites in general. Both your browser and Internet Service Provider must support secured sites. Refer to the requirements for using eBranch. Using other browsers may prevent access to eBranch. Another reason that you might not be able to access eBranch is that your cookies may not be enabled. In order to enter the secure encrypted site you must accept the cookies. To enable cookies for Internet Explorer 5.5 or higher: Click on start Click on setting Select control panel Click on "Internet Options" icon Click on the tab marked "security" Click on "custom" level Scroll down to cookies and click the radio button to enable to Enable cookies for Netscape Navigator 4.7 or higher: Open Netscape From edit menu, select "preferences" Click on "advanced" Under cookies select "Accept all Cookies"
How can I become a member?
If you live, work, go to school or worship in Oklahoma, Canadian, Cleveland, Grady, Lincoln, Logan, McClain or Pottawatomie Counties you can become a member. All state employees whose agency does not currently have its own credit union. All employees of the Oklahoma Publishing Company (OPUBCO) Direct family members of people who are eligible to join
How much does it cost to use ePay?
If ePay is used at least once monthly, no ePay fees will be assessed to your account. However, if ePay is inactive during the course of a month, your account will be assessed a fee of $4.95 for each month it is inactive. For a Rate and Fee Schedule, contact your local branch.
What if eBranch goes down? Will my payments be made, will my transfers go through?
If eBranch and all of our back up systems were to go down, you can be comfortable that any transaction for which you had already processed, prior to the system going down, will go through. If you were in the middle of a transaction and there is some question as to whether the system has received the request, you may feel free to contact the credit union to ensure your transaction request has been accepted.
What if I don't sign up for Bill Payment initially and later decide that I want to sign up?
(If default security level = 4) You can sign up for Bill Payment anytime you want. Just click on the Pay Bills button located on the Transaction screen. You will be notified that you are not currently enrolled. You will then be presented the opportunity to enroll. Simply acknowledge your desire to enroll, and you can immediately start using the service. (If default security level = 5) Select the Mail Box option. Choose the Bill Payment Desk from the drop down. Type in your request for Bill Payment accessibility and click the SEND button. Once your request is processed you will receive a response in your Mail Box a bill Payment button will be available on the Accounts screen.
Should the payment date I give be the date the payment is actually due?
No. You need to allow seven (7) calendar lead days for the payment to reach your payee, so enter a date seven (7) days before the actual due date. Be sure to take into account that, although you can schedule a payment at any time, payments are actually initiated (sent to the payee) only on business days.
How soon are the funds actually taken out of my account?
Seven (7) calendar lead days is required to process all payments. Payments that cannot be electronically submitted to a merchant are processed by check. Your account may be debited for payment seven (7) calendar days prior to the scheduled Due Date.
What happens if I don't have enough money in my account to cover a bill payment?
If your account has sufficient overdraft protection to cover the payment, we'll draw against that. Otherwise, the payment will be returned for insufficient funds.
When and how are my payments delivered and how can I ensure that my payee receives my payment on the due date?
When you schedule a payment, the payment is warehoused until it is time to process it. The time to process will vary depending on how the payment is to be made and how long it will take to get the payment to the payee. Once the system has determined that it is time to process the payment, the payment is changed to a processing status. An electronic funds transfer then processes the payment, or a check is produced and made payable to the payee. The check is then sent to the payee via regular mail. Since the system requires you to submit payment requests seven days in advance, this ensures there is sufficient lead-time to process your request and get it to the payee by the date you specify.
Why does it take a few days to process payments?
Although a number of your payees accept payments electronically, many do not. For those that do not accept electronic payments, we must send a check to that payee through the U.S. Mail. Once the payee receives it, it may also take a day or so for that payee to process the check and post it to your account. Even for electronic payments, it may take two or three days for your payment to be posted. By allowing a few days for processing and delivery, we can guarantee that your bills are paid on time.
What should I do if a payee has not posted my payment?
You need to allow a few days for your payee to process your payment. If your payee has not posted the payment to your account after a few days, notify the credit union to inquire about the status of the payment. Be sure to provide the item's reference number. The payment will then be traced and a status response will be sent to you.
How can I prove payments and transfers were made?
With each bill payment, you are given a reference number. This reference number indicates that we have received it and is used for tracking payments if a problem occurs. Payments and transfers also appear on your Register screen. Your monthly statement from your payee should also indicate the date and amount of the payment.
How will the payments be made?
We use two methods of payment: Electronic – ePay sends an electronic credit to your payee or Laser Draft - a paper check is sent to your payee by mail.
Can I choose the method of payment?
No. ePay will process the payment electronically if possible. If not, then an Online Check is produced. Over time, some payees who could not accept electronic payment may be able to. They will then begin being paid electronically.
Real Estate FAQs
What are the rates?
The interest rate on your particular mortgage will depend upon several factors. For example: Are you wanting a fixed rate or adjustable rate? Both fixed and adjustable rate loans are available. Sometimes an adjustable rate loan is the better deal for a particular scenario, sometimes a fixed rate. Will this be the only mortgage on your property, or is it a second mortgage? Loans that are first in line in event of default are more secure, and therefore offer lower rates and better terms. How long do you want to pay off the mortgage? We offer loan terms up to 30 years. Length of the loan will affect what interest rate we can offer.
What will it cost to refinance my home?
Closing expenses vary greatly on home loans depending on what loan you are applying for and how much money you want. Anytime you apply for a home loan, you will receive a Good Faith Estimate of closing costs within 3 days of our receipt of the application.
How do I know if I qualify for a home loan?
If you want to know whether or not you may qualify to purchase a new home, call us to get a loan application and fill it out as if you have a home to buy already (you don’t need an address). We can pre-qualify you for the purchase with no expense to you. If you want, we can even do pre-approvals (this means we will also verify employment, funds to close, credit history, etc) and will still cost you nothing.
What is the difference between a Pre-Qualification and Pre-Approval?
Most real estate agents will ask you if you’re pre-qualified or pre-approved for a mortgage loan. To be pre-qualified, you will know, based on your income and expenses, what you can afford to pay for a home. To be pre-approved, it means that your credit history, employment history, and assets have been verified and approved to loan up to a certain amount under a specific scenario. If you have been pre-approved for a home loan then you cannot be turned down, but the particular property has not been determined or approved as of yet.
How long will it take to complete my loan?
The length of time to complete a mortgage loan can vary greatly depending on what reports that must be done and where the property is located. If a loan is larger and more complex, likely it will take longer to close. If a property is located in a rural part of the state, then there may be only one title company for the entire county and few appraisers may go there and take longer to finish their work due to limited sales data in the area.
Will you finance properties in my location?
We do mortgage loans anywhere in Oklahoma.
Will my loan be sold?
The credit union does not sell servicing on loans that we originate. If we originate your mortgage, we will service it for the entire term of the loan.
What are all these fees on other Good Faith Estimates?
If you are shopping around for a good deal on refinancing your house, or purchasing a new one, you may be confused with the different expenses shown on good faith estimates that are not necessarily shown on ours. The reason for many of those expenses is we don’t add costs to your loan to do our job. We will help you compare if you bring in the forms to us.
How much do I have to put down to purchase a home?
We offer purchase loans up to 100% of the purchase price for primary residence properties. Does this mean you will have no costs to purchase the property? No. You will have to pay your own closing costs and prepaids (a minimum of 3% of the purchase price), but gift money can be accepted in many cases. However, purchase loans over 95% of the purchase price will have higher interest rates and mortgage insurance.
Will you finance mobile/manufactured home?
We offer financing for Double-wide manufactured homes with terms and rates similar to homes built on site if they meet certain standards of construction. For single-wide mobile homes (whether or not permanently affixed to the land) we offer limited financing.
Why did my escrow payment go up?
Escrow accounts are set up to pay Homeowner’s Insurance, Mortgage Insurance, Flood Insurance, and Taxes on your property. The only reason for your escrow payment to increase is that your insurance or taxes (or both) have increased. You will receive an Escrow Disclosure Statement in January of each year to let you know what has happened in your escrow account during the past year and what to expect in the coming year.
What are all these forms that you have given me with my application?
With every real estate loan application we give out, the credit union must inform you of your rights and responsibilities regarding real estate transactions. Each of these forms relates to a specific law in real estate transactions. Please sign these forms where indicated and retain a copy for your records. The information found on these forms is very important, and you may want to refer to it during and after your transaction.
Why did I not receive my statement in the mail this month?
Most likely, you are signed up for eStatements, which automatically cancels mailed statements. You can call the Phone Center and ask for your eStatements to be cancelled in order to receive paper statements again.
Why did the teller not look at my driver's license?
Our system stores photos and signatures of members, and our tellers are trained to always look at the photo to ensure proper identification. Scammers can create fake ID’s as well as steal legitimate ID’s; our members are the only people who can look like themselves!
I have never had to fill a withdrawal slip out before, why do I have to now?
In the drive through, withdrawal slips must be filled out for OECU’s protection and your protection.
I mailed in my check for a loan payment, but it wasn’t processed properly.
When a Member Service Representative (MSR) receives loan payments in the mail and there are no instructions to post a check differently from a normal payment, a normal payment will be made. IE: if you want the check to be applied as a ‘bonus’ payment (Principal only) and do not clearly indicate that, the MSR will most likely post the payment to the next payment due date. It is always a good idea to indicate the account number being used and what you want OECU to do with the funds.
VISA Debit Card FAQ
Do I have to pay a fee to have a Debit Card?
No, there is no fee to obtain a Debit Card. If you have the Snap Checking account you receive unlimited ATM withdrawals per month. Also, for our other checking accounts (Fresh Start, Student, Privilege, and Perk checking) you receive free unlimited ATM withdrawals. With all checking accounts, there is never a fee to use your Debit Card to make a purchase.
How often can I use my Visa Debit Card?
For all accounts (excluding Student Checking & Fresh Start Checking) you may withdraw a maximum of $500 or your account balance (whichever is less) from an Automated Teller Machine (ATM) per day, per card. In addition, you may use your Debit Card to purchase up to $1,000 in goods and services each day, as long as your available balance is sufficient to cover the aggregate of all purchases. Student Checking accounts may withdraw a maximum of $100 or your account balance (whichever is less) from an ATM per day, per card and may use your debit card to make purchases up to $100 each day as long as your avialble balance is sufficient to cover the aggregate of all purchases. Fresh Start Checking accounts may withdraw a maximum of $250 or your account balance (whichever is less) from an ATM per day, per card and may use your debit card to make purchases up to $500 each day as long as your avialble balance is sufficient to cover the aggregate of all purchases.
Where can I use my OECU Visa Debit Card?
At any of the millions of merchant locations worldwide that accept Visa Debit Card. You can also use your OECU Visa Debit Card at any of the 900+ no-surcharge ATM's in Oklahoma. In addition, you can use your card at any ATM that accepts, Transfund, Pulse or Visa, but a fee may be imposed.
What do I do if I lose my Visa Debit Card?
Call OECU immediately at (405) 602-6328 or (877) 677-6328. If it is before or after our normal business hours, call Transfund at (800) 791-2525. Then, call OECU as soon as possible on the next business day. It is also advisable to follow your call with a written notice to: Oklahoma Employees Credit Union Attn: Transfund Coordinator P.O. Box 24027 Oklahoma City, OK 73124.
How much money can I lose if someone steals my Debit Card and uses it?
If you notify us of the lost or stolen Card and/or PIN within two business days, you will lose nothing if someone uses your Card without your permission. If you DO NOT notify us within two business days after you learn of the loss or theft of your Card and/or PIN, you could lose as much as $50. It is also important to always review your account statements carefully. If they show Card transactions you did not make, notify us at once. If you do not notify us within 60 days after the statement mailing date, you may not be reimbursed for the withdrawal.