Question 1

How do I deposit a check using the ATM?

Accepted Answer

Please follow our step-by-step guide to deposit a check at an Educational Systems Federal Credit Union ATM.

Question 2

How do I report a lost or stolen card?

Accepted Answer

To report a lost or stolen card, click Replacement Options, choose Lost or Stolen and confirm. Lost/Stolen shuts off the card immediately.

Question 3

What is the range for a credit score?

Accepted Answer

Credit scores range between 300 to 850. A score of 700 or above is good. A score of 740 or above is excellent.  On average, people have a score between 600 and 750.

Question 4

What is Member Authentication?

Accepted Answer

Member authentication is a security step that verifies your identity when you log in or complete certain transactions. It may require a one-time verification code sent by text message (SMS) or phone call, in addition to your username and password.

Question 5

What type of equity loans does the Credit Union offer?

Accepted Answer

We offer fixed-rate second mortgages on primary residences and second/vacation homes for loan amounts up to $300,000 or 90% of the appraised value, whichever is less. We also offer Home Equity Lines of Credit (HELOC) on primary residences and second/vacation homes for loan amounts up to $300,000 or 95% of the appraised value, whichever is less.

Question 6

How do I order checks online?

Accepted Answer

Log in to Digital Banking. Click on “Reorder Checks” from the left side bar menu. This will bring you to Harland Clark’s website. Please note that the following types of check orders need to be requested by speaking to an Educational Systems Federal Credit Union employee:

Initial checks
Orders that haven’t been placed within the past four years
Checks for Star Members
Checks for Money Market Accounts or Home Equity Lines of Credit (HELOC)

Question 7

How can I apply to purchase a new home or refinance my existing home?

Accepted Answer

You can apply by calling 301.779.8500 ext. 5401 or online through our Mortgage Center.

Question 8

How do I pay my loan?

Accepted Answer

You may mail your loan payment, pay online by transferring funds from a checking/savings account (please note that you must be set up for Digital Banking), or you may pay in person at any of our branch offices. In addition, you may set up a debit from another bank account or create a distribution from a direct deposit or payroll deduction.

Question 9

How do I know if I am eligible to become a member?

Accepted Answer

To check your eligibility, simply visit our Membership Eligibility page for the most current information on who can join Educational Systems Federal Credit Union. If you have additional questions, you can also call us at 301.779.8500 or stop by any branch.

Question 10

What kind of wire transfers does the Credit Union offer?

Accepted Answer

With our domestic wire transfer services you can send and receive guaranteed funds to companies and individuals. Outgoing international wire transfers are not available.

Question 11

What is Courtesy Pay?

Accepted Answer

Courtesy Pay is a service used by financial institutions to approve transactions when checking accounts lack sufficient funds, allowing the transaction to be posted and the account to show a negative balance. Most institutions charge a flat fee for this service.

Question 12

Why is Howard University Employees FCU merging with Educational Systems FCU?

Accepted Answer

Howard University Employees Federal Credit Union is merging with Educational Systems Federal Credit Union to expand the range of services and benefits available to members. This new partnership will offer Howard University Employees FCU members more products, services and financial wellness opportunities.

Question 13

How do I choose a strong password?

Accepted Answer

Create a password that is at least 8 characters or more, uses at least one upper case letter, one lower case letter, one number and it is optional to include one special character: (!@%$^&*_+=() [] {} :;,./?)

Question 14

How do I access Card Management in Digital Banking?

Accepted Answer

Log in, go to Account Services > Manage My Cards.

Question 15

How do I access Transfers in Digital Banking?

Accepted Answer

Go to Transfer & Pay > Transfers from the dashboard.

Question 16

What is Apple Pay®?

Accepted Answer

Apple Pay® allows you to pay for purchases at participating retailers using your Educational Systems FCU debit and Visa® credit cards in conjunction with Apple® devices.

Question 17

What is the Financial Wellness Widget

Accepted Answer

The Financial Wellness Widget is a Digital Banking feature that helps members manage their financial health. It includes tools like Savings Goals and Spending Analytics.

Question 18

What is Direct Deposit Switch?

Accepted Answer

It’s a secure digital tool that lets you move your paycheck (or part of it) to your account without paperwork or contacting HR.

Question 19

I have never used Quicken, QuickBooks. How do I get started?

Accepted Answer

The first step is to purchase a plan with Quicken that meets your needs. Quicken is typically used to track personal finances and QuickBooks is for businesses.

Question 20

What is SavvyMoney Credit Score?

Accepted Answer

SavvyMoney provides members with their Vantage Score 3.0 credit score, full credit report, monitoring alerts, and personalized offers—all within Digital Banking.

Question 21

How do I use Zelle®?

Accepted Answer

You can send, request or receive money with Zelle®.


	To start using Zelle® at Educational Systems FCU, you must be enrolled in Digital Banking. Visit our Digital Services page to learn how to register. Once enrolled in Digital Banking, you can access “Send Money With Zelle®” tab in Digital Banking to complete a brief one-time enrollment to tell us which email address or U.S. mobile number and deposit account you would like to use to send and receive money with Zelle®.
	To send money using Zelle®, simply add a trusted recipient’s email address or U.S. mobile phone number, enter the amount you’d like to send and an optional note, review, then hit “Send.” In most cases, the money is available to your recipient in minutes if they are already enrolled with Zelle®.
	To request money using Zelle®, choose “Request,” enter their enrolled email address, U.S, mobile number or Zelle® tag, confirm the receipt is correct and tap “Request.”
	To receive money, just share your enrolled email address or U.S. mobile number with a friend and ask them to send you money with Zelle®. If you have already enrolled with Zelle®, you do not need to take any further action. The money will be sent directly into your account, typically within minutes.
	If someone sent you money with Zelle® and you have not yet enrolled with Zelle®, follow these steps: Click on the link provided in the payment notification you received via email or text message. Select Educational Systems FCU. Follow the instructions provided on the page to enroll and receive your payment. Pay attention to the email address or U.S. mobile number where you received the payment notification – you should enroll with Zelle® using that email address or U.S. mobile number to ensure you receive your money.

Question 22

What is the difference between a High-Yield Savings Account and a traditional savings account?

Accepted Answer

A High-Yield Savings Account typically offers significantly higher interest rates and APYs than traditional savings accounts. This enables savers to earn more on their balances.

Question 23

What is a Premium Summer Pay Account?

Accepted Answer

A Premium Summer Pay Account is a high-interest savings account designed to help members save throughout the year and receive their funds during the summer months. Members can designate a portion of their paycheck to be deposited automatically via Direct Deposit, helping them build savings over time. Account funds are then automatically distributed during the summer according to the account's payout schedule.[

Question 24

How much interest can I earn with a High-Yield Savings Account?

Accepted Answer

The amount of interest you earn depends on your account balance, APY and how long money remains in the account.

Question 25

Who is eligible to open a Premium Summer Pay Account?

Accepted Answer

The Premium Summer Pay Account is available to all Educational Systems FCU members who meet the account opening requirements.

Question 26

How do I export a file from the Credit Union to Quicken or QuickBooks?

Accepted Answer

Log in to Digital Banking using a web browser and click on the account from which you want to export transactions. Select the download icon located near the person icon (right auxiliary menu) to export your transactions. Follow the prompts to select the account, appropriate file type (Quicken Web Connect-QFX or QuickBooks Web Connect-QBO) and transaction period. Then, import the file into Quicken or QuickBooks.

Question 27

How do I receive money that someone sent me with Zelle®?

Accepted Answer

If you have already enrolled with Zelle®, you do not need to take any further action. The money will be sent directly into your bank account and will be available typically within minutes.

If you have not yet enrolled with Zelle®, follow these steps:


	Click on the link provided in the payment notification you received via email or text message.
	Select Educational Systems FCU.
	Follow the instructions provided on the page to enroll and receive your payment.
	Pay attention to the email address or U.S. mobile number where you received the payment notification — you should enroll with Zelle® using that email address or U.S. mobile number where you received the notification to ensure you receive your money.

Question 28

How do I enroll in SavvyMoney?

Accepted Answer

Select the SavvyMoney widget from your dashboard. If not enrolled, you will be prompted to register and accept terms.

Question 29

Which accounts are eligible?

Accepted Answer

Eligible accounts are determined by our core banking system and your account permissions. In Digital Banking, the Courtesy Pay widget displays each eligible account along with your current enrollment status.

Question 30

How long does it take?

Accepted Answer

Most members complete the setup in under 5 minutes, and deposits typically begin the same or next pay cycle.

Question 31

How do I access Financial Wellness tools?

Accepted Answer

Log in to Digital Banking and select the Financial Wellness Widget from your dashboard. From there, you can create savings goals and view spending insights.

Question 32

What types of transfers can I make?

Accepted Answer

One-time immediate, future-dated, recurring transfers, and loan payments.

Question 33

What can I do in Card Management?

Accepted Answer

You can do the following in Card Management:

	Activate a card and set your PIN
	Replace a lost/stolen/damaged card
	Set travel notifications
	Manage transaction alerts and controls
	View digital card details

Question 34

Can I use the same password for multiple log ins?

Accepted Answer

A unique password should be created for each log in page you use. If you don't, then one breach could leave your other accounts vulnerable.

Question 35

What is EMV (Europay, MasterCard and Visa) chip technology?

Accepted Answer

The chip embedded in your card turns your account information into a unique code that adds a layer of fraud protection. Many retailers now accept chip cards since it’s the global standard.

Question 36

Can minors open a checking account?

Accepted Answer

Yes. Educational Systems Federal Credit Union members between the ages of 13 and 15 can open a checking account with a joint owner. At age 16, students can have their own checking account. To open an account, students need to provide a school ID or photo identification as well as proof of address using a report card or a statement from a financial institution.

Question 37

What devices are compatible with Apple Pay®?

Accepted Answer

Apple Pay® is compatible on various Apple devices. Learn more here.

Question 38

When will the merger be effective?

Accepted Answer

The legal merger will take effect on November 30, 2024 and accounts will transition on January 1, 2025 at noon.

Question 39

How can I request a wire transfer?

Accepted Answer

Once the requirements below for the Wire Transfer Agreement and Wire Transfer Request forms have been met, a wire transfer of $500,000.00 or less can be requested by calling the Contact Center. (Wire transfer requests over $500,000 must be completed in a branch.) To submit the request through the Contact Center, the following requirements must be met:

A Wire Transfer Agreement must have previously been completed in a branch or it can be notarized and sent via mail or FedEx.  The original document must be sent to the following address:
Educational Systems Federal Credit Union
Attention: Contact Center
7500 Greenway Center Drive, Suite 1400
Greenbelt, MD 20770

Upon receipt of the Funds Transfer Agreement, verbal verification of all the information is required.  Once verified, the Wire Transfer Agreement will expire after three years (from the date of verification).

A Wire Transfer Request form must be submitted by faxing it to 301.985.4661 or mailing it to the address listed above. (Emailed forms are not accepted.) Verbal verification of all information is also required.

It is recommended that the Funds Transfer Agreement and Wire Transfer Request form be submitted at least two to three business days prior to the wire date. This allows time for the required verbal verification.

Your name, address and phone number on file with the Credit Union must match the information provided on the completed Funds Transfer Agreement and Wire Transfer Request form. If an update to your account information has been done within the past 45 calendar days, then the wire transfer request must be made in a branch.

For same day wire transfers, the request must be submitted by 3:00 pm.

Question 40

What are the password requirements?

Accepted Answer

The password must be a minimum of eight characters and include the following:


	At least one upper case letter
	At least one lower case letter
	At least one number
	Optional: One special character: (!@%$^&*_+= () [] {} :;,./?)

Question 41

Can I speak to someone before applying for the mortgage?

Accepted Answer

Yes, our loan officers are available to answer any questions Monday through Friday from 8:30 am to 5:00 pm. Please call 301.779.8500 ext. 5401.

Question 42

What states does the Credit Union provide loans in?

Accepted Answer

We offer equity loan financing in Maryland, Delaware, the District of Columbia, Pennsylvania, Virginia and West Virginia.

Question 43

How is a credit score determined?

Accepted Answer

Your credit score is generated each time it is requested by a lender according to the credit scoring model of their choice. The information that impacts a credit score varies depending on the scoring model being used. There are a variety of elements that can affect your credit report, such as payment history for loans and credit cards. This includes the number and severity of late payments, the total number of credit accounts, type and age of accounts, credit utilization rate, total debt, how many new credit accounts you’ve recently opened and number of inquiries into your credit report.

Question 44

How can my credit score be improved?

Accepted Answer

Information (such as late payments and delinquencies) remain on your credit report for 7-10 years. In the FICO scoring model, your payment history is one of the most important components. When you bring your accounts current and pay your bills on time, it can have a positive impact on your credit score. It's important to keep your credit utilization rate (the sum of all your revolving debt divided by the total credit available to you) below 30% of your total income. That is because a high credit utilization rate can negatively impact your credit score. In addition, credit scoring models often factor in the age of your oldest account and the average age of all of your accounts, rewarding those with longer credit histories. Therefore, it could be better to leave an account open once you’ve paid it off rather than closing it.

Question 45

Will my cards work at retailers outside of the United States?

Accepted Answer

Your Educational Systems FCU debit or Visa® credit card will work at most international retailers. Many retailers are now accepting EMV (Europay, MasterCard and Visa) cards. These are cards that include a computer chip that authenticates your financial information as you make your purchase. Our cards include EMV technology.

Question 46

What HELOC loan options are available?

Accepted Answer

The Credit Union’s HELOC offers flexibility with an adjustable rate with a 10-year draw period and a 15-year repayment period. During the 10-year draw period, funds can be drawn on an as-needed basis.

Question 47

What type of mortgage loans does the Credit Union offer?

Accepted Answer

We offer fixed-rate and ARM loans for the purchase or refinance of a primary or secondary home. We offer financing up to 97% of the appraised value.

Question 48

Is there a fee to send or receive a wire transfer?

Accepted Answer

There is a $30 per transfer fee to send a wire, which is waived for Star Members. There is no fee to receive a wire transfer.

Question 49

I need help completing my application, who do I contact?

Accepted Answer

Call or stop by a branch and we’ll walk you through the membership process.

Question 50

Will I still have access to my Howard University Employees FCU account during the transition?

Accepted Answer

Yes, you will continue to access your Howard University Employees FCU account until December 31, 2024 at 11:00 pm (EST). Starting January 1, 2025 at noon, you’ll use your new Educational Systems FCU account information.

Question 51

Is Apple Pay® safe?

Accepted Answer

Yes. Your financial security is our top priority. Therefore, you can be assured that we have researched Apple Pay® thoroughly to ensure your safety. When you make a payment using Apple Pay®, the merchant is never given your full card number. In addition, all the standard fraud monitoring systems will continue to apply to purchases you make using Apple Pay®.

Question 52

How do I protect myself on my mobile device?

Accepted Answer

When using the mobile app or Digital Banking, always ensure you have a strong password, avoid using auto-complete features that remember usernames and passwords and set your timeout screen to five minutes or less. Additionally, don’t store sensitive data on your mobile device, and be sure to use SSL encryption whenever using your mobile browser. Additional preventive measures include:

Do not leave your device unattended

Keep records of your device's identifying information

Activate your phone’s anti-theft tracking service

"Log off" when finished with an app or Digital Banking rather than closing it

Question 53

How do I activate my card?

Accepted Answer

To activate your card, click Set up Card, enter CVV, and confirm. If you don’t have the physical card yet, use Digital Card Display and complete secondary verification.

Question 54

Can I transfer to external accounts?

Accepted Answer

Yes, after linking the external account via instant verification or trial deposits.

Question 55

How do I choose a strong password?

Accepted Answer

Create a password that is at least 8 characters or more, uses at least one upper case letter, one lower case letter, one number and it is optional to include one special character: (!@%$^&*_+=() [] {} :;,./?)

Question 56

How do Savings Goals work?

Accepted Answer

Savings Goals allow you to set, track, and manage personalized savings objectives. You can allocate funds, monitor progress, and receive alerts when goals are endangered or completed.

Question 57

Do I need to contact my employer?

Accepted Answer

No. Your payroll information is updated directly through your employer’s payroll system.

Question 58

How do I enroll (opt in) or unenroll (opt out) in Digital Banking?

Accepted Answer

On desktop:


	Sign in and go to Account Services → Courtesy Pay.
	Review the program information and click See More to expand details.
	For each eligible checking account, choose Opt In or Opt Out.
	For each eligible checking account, choose Opt In or Opt Out.

Question 59

How often is my credit score updated?

Accepted Answer

Your score is updated daily and uses a soft inquiry, which does not impact your credit score.

Question 60

Is my information secure?

Accepted Answer

Keeping your money and information secure is a top priority for Educational Systems FCU. When you use Zelle® within our mobile app or online banking, your information is protected with the same technology we use to keep your bank account secure.

Question 61

Can a High-Yield Savings Account help me reach my financial goals?

Accepted Answer

A High-Yield Savings Account can assist with short-term and long-term financial goals by earning you more interest while keeping your money available to you.

Question 62

Checking account vs. savings account

Accepted Answer

A checking account is catered to everyday spending and money management. Checking accounts from Educational Systems Federal Credit Union come with a debit card for convenient access to account funds. Savings accounts grow your money with interest on your account balance over time.

Question 63

Difference between a Premium Summer Pay Account and traditional savings account

Accepted Answer

A Premium Summer Pay Account is a high-interest savings account that typically offers a higher dividend rate than a traditional savings account. Members can contribute regularly through Direct Deposit, allowing their savings to grow throughout the year. Funds are then distributed during the summer based on the account's payout schedule. A traditional savings account builds interest on deposits made to the savings account and funds are accessible at any time.

Question 64

What is the minimum balance requirement for Premium Summer Pay Accounts?

Accepted Answer

There is no minimum balance requirement to open a Premium Summer Pay Account.

FAQs

Digital Banking

Frequently Asked Questions