Getting Started with Virtual Branch®

Overview

Virtual Branch® allows you to perform secure home banking transactions, pay your bills, and communicate with the credit union quickly and easily from the comfort of your own home or wherever you happen to be. These services provide secure access at any hour of the day or night. If you have questions, help is at your fingertips. Virtual Branch® provides several resources including on-line help, electronic messages to Member Services through secured mail, or you can simply pick up the phone during normal business hours and call the Credit Union directly at (718) 549-5858.

Where to Begin

Complete and submit the application as instructed. Upon approval you will receive a welcome letter with instructions on accessing Virtual Branch®. You will receive a unique User ID and a temporary Security Code. The first time you access the service you must change the temporary security code to one that you select. Your security code may be any 8 to 16 digit alphanumeric value. You should protect this code just as you do your ATM PIN number and change it often. If you forget your security code, contact Member Services and it will be reset after we confirm your identity.

Home Banking®

Home Banking® allows you to review account balances and history, transfer funds, review and change scheduled transfers, view transfer history, and make loan payments.

The Account Summary feature provides a list of your accounts including account number, type of account, current balance, and available balance. When you select an account from the list of accounts, you are presented with the Account Detail screen. This includes current balances, available balances, rate information, next payment date and payment amount on loans, and other useful information. This screen also includes up to the minute transaction history for each account. Each transaction is displayed with the post date, amount, type of transaction, and balance.

The Account Transfer feature offers three types of transfers:

  • Immediate - A transfer is attempted immediately. You are notified if the transfer is successful, similar to an ATM transaction. The money is actually moved based on the same schedule as transactions performed at an ATM.
  • One-time - A transfer is made on a date you specify.
  • Automatic - A transfer occurs as often and as many times as you specify.

Transfers that are set up for future dates are called “scheduled” transfers. These transfers may be either one-time or automatic. The first transfer date may be no more that 18 months in the future. Scheduled transfers are processed on the scheduled date. Transfers scheduled for non-business dates (such as January 1 or weekends) are processed on the next business day for one-time transfers and on the previous business day for automatic transfers.

The Scheduled Transfers feature allows you to review one-time or automatic transfers or cancel a transfer before it occurs. You can also change information depending on the type of scheduled transfer:

  • One-time transfer – You can change the amount and date of the transfer.
  • Automatic transfer – You can change the amount, next transfer date, number of transfers, and transfer frequency. The changes will affect all future transfers.

If you want to change the FROM or TO account, you must cancel the transfer and set it up correctly. An immediate transfer takes place the instant you confirm it, so it cannot be modified or canceled afterward.

The Transfer History feature provides the details, including the status of transfers you’ve made. You have several ways in which to select which transfer(s) you want to review. If you do not specify any criteria, you get all available transfer history. If you specify:

  • Account number – You will receive all transfers for that account.
  • Transfer dates – You receive transfers from the start date to the end date.
  • Transfer amount – You receive all transfers within plus or minus $10 of the specified amount.

If you want to direct the search to a more restricted list of past transfers, you may specify a combination of transfer details.

Bill Pay® Bill Payment

Use the Bill Payment function to schedule payments to merchants, review and change scheduled payments, and review payment history. Bill Payment offers an alternative to the traditional method of paying bills. Instead of writing a check and mailing the payment to the merchant, you can schedule all your payments through Virtual Branch®. You can schedule payments to be made on certain dates. Bill Payment provides a confirmation number for every payment and keeps track of your payment history. These features make Bill Payment an excellent record keeper.

Paying bills essentially involves three steps:

  • Set up your personal list of merchants. To pay bills, the merchant(s) you want to pay must be in your personal merchant list with all account numbers you have with each merchant.
  • Set up a payment.
  • Change or cancel your payment information as necessary.

Bill Payment uses one of the following methods to pay your bill:

  • Electronic payment to merchants on the electronic network. When this method is used, you receive a recommendation to set up your payment at least two business days before the due date.
  • Check payment to merchants who do not receive electronic payments. When this method is used, you receive a recommendation to set up your payment at least five business days before the due date.

The processing times provided above are recommendations only. Virtual Branch® cannot control or guarantee the timely processing of payments once they are received by the merchant. Posting of the payment is the responsibility of the merchant.

If you fail to provide the correct merchant and account information, your payments may not be successfully completed.

Payments are processed Monday through Friday with the exception of federal holidays. Payment processing begins at 2PM EST each day. You cannot schedule, change, or delete a payment to occur on that day after processing begins.

Bill Payment supports the following types of payments:

  • One-time payment – The payment takes place on the date you specify.
  • Automatic payment – Payments occur starting on the date and as many times as you specify for up to 10 years.

Payments that are set up for future dates are called scheduled payments. These payments include one-time payments and automatic payments. The first payment date may be no more than 18 months in the future. Payments are processed on the scheduled date. Payments scheduled for non-business dates (such as January 1 or weekends) are processed on the next business day for one-time payments and on the previous business day for automatic payments.

The Scheduled Payments feature allows you to review your scheduled payments (one-time and automatic) and change or delete a selected payment before the payment occurs. You may change payment information depending on the type of scheduled payment:

  • One-time payment – You can change the amount and date of the payment and the financial account from which the payment is to be made.
  • Automatic payment – You can change the amount, next payment date, number of payments, frequency of payments, and the financial account from which the payments are to be made. The changes affect all future payments.

The Payment History feature lets you find and review past payments for the last 18 months by specifying the payment details. You have several ways to select which payment(s) you want to review. If you do not specify any criteria, all available payment history will be presented. If you specify:

  • Merchant name – You will receive all payment history for that merchant.
  • Payment dates – You will receive payment history from the start date to the end date specified.
  • Payment amount – You will receive all payment history within plus or minus $10 of the specified amount.

If you want to direct the search to a more restricted list of past payments, you may specify any combination of the payment details listed above.

Contact Us® Electronic Messaging

You can use the secured mail feature to communicate with Van Cortlandt Cooperative Federal Credit Union. Secured mail offers the capability to review, save, and delete received messages and to send new messages to Member Services. You can use this feature at any time to communicate questions, problems or requests.

Personal Options

You can use the Personal Options to change your security code and to add or delete an account. You may also use Personal Options to change personal information on Virtual Branch; however, you must notify our institution directly of any relevant changes to your name, address, or phone number.