Credit Protection: To Freeze or Not to Freeze
One of the best ways to protect your credit from potential fraud and unnecessary inquiries is by freezing your credit. This free service is available from all three credit bureaus. It doesn’t affect your credit score, and helps prevent the opening of fraudulent credit accounts in your name. Check out this video on what to expect when you freeze your credit.
Car Loan Description Update
With record vehicle loan volume over the past several years, we now have quite a few of our members have more than one vehicle loan at the Credit Union. This could cause some confusion when viewing the loans in online/mobile banking or on a monthly statement, as the loans were all titled, “VEHICLE FIXED RATE LOAN” followed by a loan number.
In early September we updated our system so that each vehicle loan now shows the vehicle year, make and model in the description. This makes it easy to identity each loan without having to remember the corresponding loan number.
Pay an APL FCU Loan with an External Account
Members can make secure APL FCU loan or credit card payments from an external account by using Loan Xpress Pay. By utilizing a savings or checking account from another financial institution, you can submit your payment quickly and easily. You can even set up automatic payments each month so your payments are never late. Best of all, Loan Xpress Payments are free. And you can use it to make payments up to $7,000.
To get started, just click on the green Pay My Loan button in the top right corner of our homepage at aplfcu.org. You have the option to pay as a “Guest” to quickly pay a loan, or to register and set up an account if you plan to use Loan Xpress Pay for frequent or recurring payments. The Loan Xpress Pay link is also available within our Mobile App (under the menu icon).
Please note that Loan Xpress Pay is for payments to your APL FCU loan or credit card from another financial institution. For payments from your APL FCU savings or checking account, please use the Transfer button in Online Banking or the Mobile App. More Info
Guaranteed Asset Protection (GAP)
Most people believe that if their vehicle is totaled or stolen, their primary auto insurance will pay off their loan balance in full, which is not always the case. Your insurance carrier usually will pay only the actual cash value (current market value) of your vehicle at the time of loss, less your deductible. The amount could be substantially less than your APL FCU loan balance. Check out this video for more info and our GAP page to see if your vehicle is eligible for this protection.