Browse our FAQ Categories:
General
Membership
Loans
VISA
Savings
Checking
Direct Deposit/Payroll Deduction
ATM/Debit Card
General
What are FAQs?
FAQ is the abbreviation for Frequently Asked Questions. It is a good source of basic information if you are new or unfamiliar with a web site or the content therein
How is NOFFCU different from a bank?
Credit unions are not-for-profit financial organizations that were founded on the principle that through cooperative efforts, individuals sharing common bonds would benefit. Bank stockholders elect a paid board of directors to run the bank and financially benefit stockholders. The credit union's board of directors is made up of volunteers who receive no financial compensation, and are elected by the membership. Credit unions are member-owned and exist to serve and educate their members. Credit unions are full service financial institutions offering similar products as a bank; however, they are priced for the consumer.
Are my credit union funds federally insured?
Yes, your credit union funds are federally insured up to $100,000 per account ownership type by the National Credit Union Administration (NCUA), an agency of the federal government.
What is the difference between my member number and account number?
Your member number is a 4 to 10 digit number that identifies you as a credit union member. Account numbers are numbers that denote the specific types of accounts within each member number. The following are the designated numbers for each account:
Life Benefit Share Account - 01
Checking Accounts - 02
Christmas Club Account - 05
Vacation Club Account - 06
VIP Account - 08
IRAs - 14 & 15
Certificates of Deposit - 25 and up
What is NOFFCU's routing/transit number?
Our routing/transit number is 265075812. This is the number that is needed to set up direct deposit and automatic drafts.
Does NOFFCU offer an automated bank by phone service?
Yes, Hotline is our 24-hour telephone audio response system. It's easy to use, offers a variety of transaction options, and is totally free to use. Simply call 504-889-9090 or 800-292-3232. You'll need your member number and your Hotline access code. Depending on the service code that you select, you may also need to know specific account numbers. If you do not know your Hotline access code, call us at 504-889-9090 or 800-647-1689.
How can I make deposits to my accounts?
Your deposits can be made in person at any of our branch locations, by mail, by ATM located at 4301 Downman Road in New Orleans, or automatically through direct deposit or payroll deduction.
How can I withdraw money from my accounts?
You can make withdrawals in person at any of our branch locations, by ATM, by writing checks, or by using your Visa Debit card. You can also request a withdrawal by phone through one of our telephone service representatives or by using Hotline.
How can I transfer funds between my accounts?
You can easily transfer funds between accounts in person at a branch location, by using Hotline, or eFire Internet home banking. Note: eFire only allows transfers between accounts within the same member number.
What is eFire Home Banking and Bill Payer?
eFire, our on-line banking product, is an easy and effective way to handle your daily finances. You can transfer funds, pay your NOFFCU loans, view your account history and balances, order checks, apply for a loan, and enroll in on-line Bill Payer all from your internet-ready personal computer.
With Bill Payer, you can pay all of your bills without ever writing a check. Simply enter payee, amount and the date that you want the check mailed and we take care of the rest. To register for Bill Pay, log on to eFire and then click on the Bill Payment button.
Membership
Who qualifies for membership at NOFFCU?
You may join if you are an active or retired New Orleans fireman, or if you work for one of our Select Employee Groups (SEGs). Any individual who lives, works or attends school in St. James Parish, Tangipahoa Parish, Plaquemines Parish, and certain parts of the New Orleans East area can also join. And finally, any immediate family members of the previously-mentioned groups, or anyone who shares a household with the previously-mentioned groups.
What happens if I leave the field of membership?
Once a member, always a member, even if you leave your place of employment or move out of the approved areas.
How can my organization become affiliated with NOFFCU?
Find out how easy and beneficial it is to join our field of membership and offer NOFFCU to your employees.
How long do I have to be a member before I can apply for a loan or other services?
You can apply for a loan or any other NOFFCU service the same day that you join.
What qualifies me as a member?
A Life Benefit Share Account with at least a $10 balance classifies you as a member and allows you to vote for our Board of Directors.
How do I become a Preferred Member?
Preferred membership has its privileges. To become a Preferred Member, you must have 4 out of the following 6 products and services:
Loans
How do I apply for a loan?
You can apply in person at any branch location, by phone with one of our telephone service representatives, or online through eFire.
Is there a penalty if I pay my loan off early?
No, there is no penalty to pay your loan off early. All of our loans are calculated using the simple interest method, a method of calculating interest in which the amount of interest is computed based on the outstanding balance of a loan multiplied by the number of days between each payment period. Simple interest loans are most beneficial to consumers. This is in contrast to the pre-computed interest method (Rule of 78's or Add On) in which the beginning loan balance is actually the principal and interest for the life of the loan added together. In this method, each payment made by the borrower is credited toward the gross "Add On" balance and a rebate of unpaid interest is credited in case of an early payoff. Pre-computed loans accrue interest much more rapidly in the early stages of the loan than simple interest loans and the borrower does not get much benefit in interest savings by paying extra amounts over the scheduled loan payment or early payoffs.
How can I make loan payments?
You can make loan payments in person at any branch location, by mail, by using Hotline, and by using eFire Home Banking. You can also arrange to have your payments automatically transferred from your savings or checking account, or to be made through payroll deduction.
VISA
How do I apply for an NOFFCU Visa?
You can apply for an NOFFCU Visa in person at any branch location, by phone with one of our telephone service representatives, or online through eFire.
Is there an annual fee on NOFFCU Visas?
No, there are no annual fees on our Visa cards.
What are the NOFFCU Visa rates?
Visa Platinum Plus 8.90%
Visa Platinum Select 10.90%
Visa Platinum 12.90%
Can I pay my NOFFCU Visa online?
Yes, you can make Visa payments online using eFire.
Savings
What is the minimum balance requirement on a Life Benefit Share account?
The minimum balance for a Life Benefit Share account is $10.00.
Why are my savings called shares?
Your savings represent ownership in the credit union. As an owner, you receive dividends and have the privilege of electing our Board of Directors.
Why is my regular savings account called a Life Benefit Share Account?
It's because we give you free life insurance on this account. Your beneficiary could be paid up to $5000 based on your deposited funds.
What other savings accounts does NOFFCU offer?
In addition to the Life Benefit Share account, we have Christmas Club accounts, Vacation Club accounts, VIP accounts, IRA accounts, and share certificates.
Does NOFFCU offer youth savings accounts?
Yes, our Spot Savers Club is for our young members ages 0-12, and our Teen Smart program is for our members who are 13-17 years of age. Each program includes a quarterly newsletter, special web pages, and much more.
Checking
How can I open a checking account?
To open a checking account, visit any of our five branch locations.
What is Courtesy Pay?
Courtesy Pay is a service that adds a pre-approved $500 overdraft limit to your personal checking account. If you overdraw your account, we may pay each check up to your $500 limit. Your account will be assessed a Non-Sufficient Funds charge of $29 for each item we pay against an overdrawn account.
Is there a minimum balance to open a checking account?
We require an initial deposit of at least $20 to cover the cost of your first check order.
What is the difference between a Regular Checking Account and an Enhanced Checking Account?
The primary difference between the two accounts is that the Regular Checking account has no minimum balance requirements and no service charge. The Enhanced Checking account has a minimum balance requirement of $1000, but pays dividends. A monthly service charge applies to the Enhanced Checking account only if the average monthly balance falls below $1000.
Are there any fees associated with the NOFFCU Debit Card?
There is a monthly charge of $2.00 to have an NOFFCU Debit Card, unless you are a Preferred Member or an Enhanced Checking account owner.
What type of overdraft protection does NOFFCU offer?
You can arrange for funds to be automatically transferred from a savings account or from your NOFFCU Visa. Apply for an NOFFCU Visa today!
How can I order checks?
Your initial check order can be made at any of our branch locations. Check reorders can be made in person, through the mail, or online at www.reorder.libertysite.com. When reordering online, you will need to enter the reorder identification number located on the reorder slip contained in the last box of checks that you received from Liberty Check Printers.
Direct Deposit/Payroll Deduction
What are Direct Deposit and Payroll Deduction?
Direct deposit and payroll deduction are services offered that enable you to conveniently make deposits into your credit union accounts. With direct deposit, you can have your entire paycheck automatically deposited into one or more of your accounts on the day that you are paid.
With payroll deduction, you can have a portion of your paycheck deposited into one or more of your accounts on the day that you are paid.
What information do I need to give my employer for Direct Deposit?
If you have a checking account with NOFFCU, you should give your employer the numbers along the bottom on your checks, beginning with 265075812 all the way through the 197 and the 10 digits that follow it. If you do not have a checking account, please call us and we'll be happy to give you the necessary information.
How do I set up Direct Deposit?
It depends. Check with your employer first. Most of the time, your employer can set it up for you. Your employer may refer you to the credit union if they are unable to initiate the process.
If I have Direct Deposit, does my entire paycheck have to go into the same account? No, you can allocate your funds to several different accounts, and even to make your loan payments.
ATM/Debit Card
What is the difference between debit/POS and credit transactions with my debit card?
When using your debit card, you have the option of doing at Debit/POS (Point of Sale) transaction or a Credit transaction. When you select a Debit/POS transaction, you are required to enter your PIN and have the option of receiving additional cash back. The funds are immediately debited from your account as they are when you make an ATM withdrawal.
If you select a Credit transaction, you do not have to enter your PIN, but are required to sign a receipt and possibly show identification. The merchant gets an authorization through Visa, which holds the funds in your account, until the debit clears your account, usually 2 - 3 days later.
When will my deposit be available for debit card/ATM transactions?
Unless you are told that the funds are being held, your deposits are immediately available when you use your debit card as an ATM, Point of Sale, or Credit transaction.
Holds may be placed on your deposited funds depending on the circumstances. If this is the case, you will be told the exact date that your funds will be available.
What ATMs am I able to use with my NOFFCU ATM or debit card?
Your NOFFCU ATM or debit card is accepted at our ATM located at 4301 Downman Road in New Orleans, or at any machine that bears the Pulse, CU24, and Exchange logos.
When you use your NOFFCU ATM card at any Hibernia ATM, you only pay $1.00 and we pay the additional surcharges for you.
