Managing Automatic Payments (AutoPay)
Setting Up
Setting up AutoPay is quick, easy, and free.
- First, select the payment frequency—Monthly or Biweekly, if eligible.
- Monthly:
This option maintains the original payoff timeframe and loan terms. - Biweekly:
This option helps reduce the overall interest paid on the loan and accelerates the payoff by making two extra half payments each year.
- Monthly:
- Then just choose a payment start date, confirm the payment amount, and enter a bank account.
We’ll automatically deduct the payments going forward.
Note:: There are no fees for using AutoPay.
You can also set up AutoPay by completing and returning one of these forms:
Making Changes
Change the payment amount, bank account, or payment date in your AutoPay settings online at any time. New settings will take effect immediately, unless there’s already a draft scheduled within the next 24 hours.
Note: If you need to cancel your AutoPay, it must be done at least 24 hours before the next scheduled payment to prevent it from being deducted.
Unexpected Changes to the Automatic Payment Amount
The amount owed each month can be affected by things like an escrow shortage, a change in your rate, or an active mortgage assistance solution.
- If this happens, we’ll adjust your AutoPay deduction accordingly.
- We’ll send a letter notifying you right away, and always before we make an AutoPay deduction in the new amount.