Communities of Abilene Federal Credit Union

Online Banking

Question #1

How do I sign up for Online Banking?
Answer:: You will need to call one of our 2 branches (www.coafcu.org) and ask to speak to a Member Services Representative or come to one of our 2 locations and specify that you want to sign-up for Online Banking access.
Question #2

Answer:

You will need access to either the internet on a home computer or a smartphone with our COAFCU App from the Google Play Store or Apple App Store.

Question #3

Is the Internet secure for Online Banking?

Answer:

Yes. This is a common concern with online banking and commerce on the Internet. Our data on the Internet is safeguarded by encryption as it moves between systems. Data residing on a system can only be accessed by using an authorized sign-on ID and pass-code. Any kind of breach in the security of our systems would be a serious business issue for the credit union. Our success depends on our ability to manage these systems safely and to continue to earn your trust as our customer. Please be assured that we will take every measure possible to protect the financial information and resources you have entrusted to us.

A few ways you can help safeguard your information are by protecting your Sign-On ID and Pass Code, using Anti-Virus, and do not give any information out to scammers. The first is a proper securing of your Sign-On ID and Pass Code so that only you have access into your account. The second is to make sure that you have a current antivirus installed on your computer and it is being updated, to protect against any virus activity. Third is keep your information to only yourself. Never give information about your account to anybody on the phone or computer asking for your information that you do not know. They may use your information for malicious purposes.

Question #4

Can anyone else see my account information online?

Answer:

Online Banking Payments Question #1

What if online banking goes down? Will my payments be made and will my transfers go through?

Answer:

If online banking and all of our back up systems were to go down, you can be assured 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.

Question #2

How long does it take for a payment to reach my payee?

Answer:

Each payment made will be processed either as check or as electronic funds transfer. If the payment is made through electronic funds transfer, it will take a matter of hours for the payment to reach your payee. Payments made by check, however, will be delivered via the postal service. Delivery could take several days depending on where the payment is to be sent. The safest thing is to always schedule your payments at least seven business days ahead of the date they are due. This will ensure that the payment will be made and processed in time.

Online Banking Accounts

Question #1

What type of accounts are included in online banking?

Answer:

You can access the following types of accounts:

* Checking * SAFE

* Savings * Money Market

* Loan * CD's/Investment

Question #2

Can I have more than one checking account linked to online banking?

Answer:

Yes. You can link all of your checking accounts to online banking.

Online Banking Bill Pay/Transactions Question #1

How current is this my transaction information?

Answer:

All transactions and balance updates are performed once per day. So any transactions you perform today that change your balance (i.e. deposits, ATM withdrawals, or debits), will be reflected either same day or the following business day, depending on where and when the transaction took place.

Question #2

Should the payment date I give be the date the payment is actually due?

Answer:

No. You need to allow some time for the payment to reach your payee, so enter a date 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.

Question #3

How soon are the funds actually taken out of my account?

Answer:

Bill payments are processed exactly as if you had processed the payment yourself. If the payment is made by an online check, the funds will be taken out of your account when your payee deposits the check and the item clears the Bank. If the payment is made electronically, the funds are withdrawn the date the transaction is processed.

Question #4

What happens if I don't have enough money in my account to cover a bill payment?

Answer:

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 and charged $30 insufficient funds fee.

Question #5

When and how are my payments delivered and how can I ensure that my payee receives my payment on the due date?

Answer:

When you schedule a payment, online banking warehouses the payment 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. The payment is then processed by conducting an electronic funds transfer, or a check is produced and made payable to the payee from your account. 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.

Question #6

Why does it take a few days to process payments?

Answer:

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 it is received by the payee, 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.

Question #7

What should I do if a payee has not posted my payment?

Answer:

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, send an online message to the Bill Payment Desk to inquire about the status of the payment. Be sure to provide the item's reference number. The reference number is displayed on the Pay Bills screen under the "Ref #" column. The payment will then be traced and a status response will be sent to you.

Question #8

How can I prove payments and transfers were made?

Answer:

With each payment and transfer, you are given a reference number so you know we received it. In addition, payments and transfers will appear on your transaction register so you can see they posted. You'll also continue to receive your monthly statement in the mail from your payee.

Question #9

Will I be charged the monthly service fee even if I don't make any payments?

Answer:

Yes, the monthly service fee is charged just like your telephone bill or cable bill - whether you use the service or not.

Question #10

How will the payments be made?

Answer:

We use two methods of payment:

Electronic - Bill Pay sends an electronic credit to your payee and electronically debits your checking account on your scheduled payment date.
Laser Draft - looks and acts just like one of your personal checks.

Question #11

Can I choose the method of payment?

Answer:

No. Bill Pay will process the payment electronically if possible. If not, then an Online Check is produced. Over time, some payees which could not accept electronic payment may be able to. They will then begin being paid electronically.

Third Party Cash Transfers

Question #1

Does the credit union support the use of 3rd Party Money Transfer Programs?

Answer:

Yes. We use the money transfer program known as PopMoney. We are directly connected to this program so if there are any problems with using the features or questions about features, you can contact the credit union and we can help with instruction or troubleshooting.

Third Party Money Transfer Programs we are not directly affiliated with are;

CashApp, Venmo, Zelle, PayPal, World Remit, or Facebook Pay

If your problem is not addressed on this page, please call Communities of Abilene FCU at 325-691-2300 or come in to one of our two branches. Thank you for your membership.