Frequently Asked Questions
Why do I need to enter a code to log into my FarmCreditEast.com account?
The multi-factor authentication (MFA) security code is required in order to ensure that only legitimate, authorized individuals have access to the personally identifiable information (PII) that is potentially available in your account. Hackers would love to get their hands on this PII. We realize that some may find the security code to be an inconvenience, but it is our position that it's better to have the minor inconvenience of entering the security code versus the major inconvenience and cost of a stolen identity! You do have the option of registering your device as a trusted device to reduce the frequency in which the MFA security code is required.
Is there another way besides a cell phone to get the multi-factor authentication (MFA) security code?
Yes! You can register a phone number for either text or voice. MFA by text requires that the security code be sent to a cell phone. However, MFA by phone means that a phone call will be placed to the phone number specified (which could be a cell phone or land line). Upon answering the phone, you'll verbally be told the security code to enter in your computer. Check out page 6 of this pdf to see how you can register for both a text and voice number for MFA.
Where can I see a summary of my loan balances and available funds?
At present there is no snapshot, summary view of your loan balances and available funds in online banking. (We've heard you and do have it our list of potential online banking enhancements.) In the meantime, you can go to My Loan Account Summary to get a quick view of your balances and available funds. Keep in mind that if you have access to see multiple borrowing entities, you may need to select a different name to view their loans.
How can I find my statements, tax forms, etc.?
Only billing statements and the annual transaction summaries will be uploaded to online banking's statements view. However, it is likely that you’ll find it easier to view statements under the My Documents page of FarmCreditEast.com rather than in online banking. You’ll actually see more documents there… you’ll get the billing statements, annual transaction summaries, as well as tax forms (such as 1098s, 1099-PATRs, interest paid statements, etc.). Also, you’ll find what you’re looking for easier if you happen to look at the Doc Class column:
- Customer Billing Statements are the monthly billing statements. Looking at the date in the document name will help to indicate which month’s billing statement you’re looking at.
- Patronage Letters are the letters indicating the amount of patronage being distributed to you via check or ACH (provided your loans are eligible for patronage).
- Interest Paid Statements are the annual report of interest paid to the ACA on a loan by loan basis.
- 1098 is the annual 1098 tax form provided to individuals who have paid more than $600 of interest on loans secured by real estate.
- 1099 PATR is the annual tax form provided to customers who have received a patronage distribution.
- Annual Transaction Summary is what you had been looking for… in essence it’s the consolidation of all loan activity during the calendar year.
- Rate Change Notices are provided to customers with variable interest rate loans whose interest rate has changed due to movements in the financial markets.
Keep in mind that if you have access to see multiple borrowing entities, you may need to select a different name to view documents pertaining to it. Additionally, when searching a date range, be aware that the annual transaction summaries and tax forms are going to be uploaded after the calendar year in question so the “To” date shouldn’t be any earlier than 2/15 in order to capture these forms.
How can I see the principal and interest split for my payment that's due?
Before making the payment, from the online banking home page, click on the account you want to see the Principal and Interest split for. Click on the Details tab and scroll down mid-way. There you will see fields showing the Oldest Payment Due Date, Total Payment Amount Due, and then the "components" of Principal Due, Interest Due, Late Charges and Escrow Due.
If the payment has already been made and you want to see how the payment was applied, from the online banking home page, click on the account you want to see the Principal and Interest split for. On the Transactions tab, find the payment and click on it to see the Details.
What is the difference between Funds Transfer versus Loan Payments?
A Funds Transfer transaction is used to take an advance or draw from available funds on your Farm Credit East loan account; i.e. you are moving money from your loan and depositing it into your checking or savings account. (In "old" online banking terms, it is an ACH OUT.)
A Loan Payments transaction is used to make a payment on your Farm Credit East loan account; i.e. you are moving money from your checking or savings account to pay your loan account. (In "old" online banking terms, it is an ACH IN or an INTERNAL TRANSFER.)
Please refer here for more information about Funds Transfers and Loan Payments.
How do I make my loan payment that is due and make an extra principal payment?
To pay the amount due on your bill, select the Payment Type of "Regular Payment" and submit that transaction. Then, submit another transaction using the Payment Type of "Principal Only Payment" (assuming you don't want it applied to the principal portion of the future bill). If you refer to the How to Move Funds pdf instructions, page 5 will indicate what the different Payment Types mean.