Year End Financial Policy
Manual Payments (Checks or Drafts)
Payments received by Compeer Financial before 2:30 p.m. on Tuesday, Dec. 31, 2019 will be applied in 2019 and as directed on your payment stub. Payments received after 2:30 p.m. on Tuesday, Dec. 31, 2019 will be treated as 2020 payments.
If you have money in Funds Held on Dec. 31, 2019 and payment is due on Jan. 1, 2020, the interest portion of the installment will be applied in 2019. If you do not want your Jan. 1, 2020 interest paid from Funds Held in 2019 or have any questions regarding this notice, please notify Compeer Financial by calling (844) 426-6733 by Dec. 26, 2019. Please retain this notice for tax purposes.
Electronic Funds Transfer
If you use the Electronic Funds Transfer Program (EFT) and would like it cancelled, please notify us by Dec. 23, 2019. If you do not use the Electronic Funds Transfer Program to make payments, please allow extra time for mailing during the holidays. New EFTs will not be scheduled after 12 p.m. on Dec. 31.
Online Banking Transactions
Loan payments and transfers submitted through Compeer Financial Online Banking before 3 p.m. on Monday, Dec. 30, 2019 will be applied as directed in the online transaction. ACH transactions submitted after 3 p.m. Monday, Dec. 30 will be posted to the loan on Thursday, Jan. 2, 2020.
Please have all wires submitted by Noon on Dec. 31.
Dedicated remote scanner users should be sure to make several smaller deposits throughout each day from Dec. 27 to Dec. 31. The system is extremely busy that week and larger batches can have difficulty being transferred. Be sure to have all deposits in well ahead of the cutoff time to be sure any traffic backlog is able to process.
Mobile Remote Deposit
Mobile Remote Deposits will be submitted as normal, with no impact.