We've learned that members are receiving solicitations from companies offering assistance to save interest and reduce terms on their mortgages by arranging a biweekly payment schedule. Please note these companies are not affiliated with Power Financial Credit Union.
These solicitations also include a hefty fee for this assistance not disclosed in the solicitation. They also do not disclose that only one payment is sent to the credit union each month. The second payment is kept by those companies and sent as a lump sum at the end of the year to the credit union.
You should always verify before responding to regular mail solicitations from unknown companies claiming to work with Power Financial Credit Union. And, as part of our online safety, we will never request personal information from our members via email.
If you receive an email that asks for your member number, password, or other sensitive information, do not reply to the email or click on any links. Clicking on a link in a fraudulent email can compromise your personal information. It’s always best to type “www.powerfi.org” directly into your online browser to ensure that you are going to our trusted website. Please forward any suspicious emails or scanned regular mail to [email protected].
If you are interested in making biweekly payments to reduce the overall interest and term of your mortgage, you can contact us at 800.548.5465 to set up this payment schedule. You do not need to use a third-party company to arrange this payment schedule. Power Financial Credit Union will not charge any fees to set up this new payment arrangement and both payments will be immediately applied to your mortgage as you pay each month.
If you have general questions about your account, please email [email protected] or call 800.548.5465.