The future payment fund is an interest-bearing account where you can deposit excess cash to cover future loan payments or withdraw funds for eligible purposes.
- No minimum balance.
- No withdrawal penalty.
- Funds earn a competitive variable interest rate daily, which is paid quarterly. The interest rate cannot exceed the rate charged on the associated loan.
- Fund balance subject to certain limitations.
- Funds can be accessed through online banking or an ACH transfer request to your bank account through a Northwest FCS office.
- Withdrawals limited to the purposes for which a loan could be made.