Loan Repayment

There are several different and convenient options for repaying your JHFCU loan, and we are working towards adding more. Current options include:

Payroll Deduction

Have money conveniently deducted from each pay and held in your Share Savings to then make a full payment for each month on the due date.

Members love this option because their loan payment is automatically paid. Plus, by coming out of each paycheck, it spreads the amount over the number of paychecks you get that month - usually two for semi-monthly/bi-weekly pay, or four for weekly paycheck recipients (if you get paid bi-weekly or weekly there will be a couple of paychecks where the amount withhold from the your payroll will just be left available for you in your Savings account).  Usually Payroll Deduction is set up during the Loan Settlement process, but you can add it at any time by completing and submitting a Payroll Deduction form.

Scheduled Recurring Transfers

Set up recurring monthly payments in online banking so you can "set it and forget it". Payments come from the designated JHFCU account you indicate, and credit your loan, on the date specified (you can select "last day of month") as an option.

Transfer from Online Banking

Make a one-time payment on of before the due date, or schedule a recurring transfer, for the loan amount or an additional amount so that you control when the payment is processed.  Note that payments made after close of business will be processed as of the next business day. 

Other Options for Payment

In the Branch Our tellers can process your payment, whether you bring in a check or cash, or want to transfer from another JHFCU account.

Mail – Mail your payment to our main office at 2027 E Monument Street, Baltimore, MD 21205. Payments are only processed on business days, so be sure to account for mail time.

ACH Set up an ACH debit from an external checking account. Available for first mortgage loans only.

JHFCU’s Online Bill Payment – While you can set up your loan in JHFCU’s Online Bill Payment, we do not recommend it, as payments are processed by a third party and then sent to us, thus do not credit your loan immediately (like it would if you simply transferred the payment from your savings or checking account here.)

Other Institutions’ Bill Payment Providers – You can institute a payment from an external bill payment provide.  Be sure to provide as many details as the service allows, most importantly the account number, including the loan suffix, ex. XXXXXXXXX-XX.  Include Johns Hopkin FCU as the payee, and provide our 2027 E Monument St Baltimore, MD 21205 address.  Note that these payments often come by mail, so account for mail time.

It's important to review your options, and/or set up payments, to ensure your payment is received by the due date. Late payments are subject to extra interest, a possible late fee, and/or possible reporting to the credit bureau. We want our members to be able to make payments in a timely manner. If you ever have a situation where you will not be able to pay on time, please call us at 410-534-4500 x 504 so we can assist you.

You may want to consider protecting your loan with Payment Protection coverage, too. JHFCU offers a program that can help cover your loan payments if you become sick and/or pass away.