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About Image Statements
Your checking, daily money market and equity line of credit statements will be
replaced with Image Statements. Image Statements include the same information as your
current statements, are printed on pre-punched 8 ½" x 11" paper and will include images
of your cancelled checks called check images. The information is organized for easy reference
and storage...and this new system will help us retrieve your information more efficiently than before.
Why are my statements being changed?
In 2004 the Check 21 Act went into effect to help financial institutions like First Federal to expedite
the check payment system through an electronic image technology called Check
Imaging. This technology makes it possible to process check images instead of paper checks.
As a result, the format of your statements is being changed to accommodate check images.
How will Image Statements simplify banking for me?
- Simplify statement reconciliation.
Your checks will be organized in numerical order, just like on your statement,
for easier cross referencing and reconciliation.
- Improve recordkeeping.
Cancelled checks can no longer get separated from your account statement and each statement page
is pre-punched for filing in a three-ring binder.
- Quickly identify possible fraud.
Check images will be available for review using First Federal’s Online Banking within 48 hours
of posting to your account. You’ll see your cancelled check online before your Image Statement
arrives in your mailbox!
Will I receive an Image Statement for each of my accounts?
You will receive Image Statements for your checking, money market and equity lines of credit.
Will I be charged for Image Statements?
No. Image Statements are provided free.
What information is included in an Image Statement?
Each Image Statement includes:
- deposit and withdrawal transaction information
- a numerical list of cleared checks
- check images of the front side of each cleared check
What is a check image?
A check image is a scanned image of a cleared check.
How many check images will be printed per page?
Ten images are printed per a standard page. Larger images are available upon request.
What if a check image is missing from my Image Statement?
Contact your local branch or the Checking Department at (503) 472-6171 or 1-888-317-8333.
What if I find a fraudulent check image?
Contact your local branch or the Checking Department at (503) 472-6171 or 1-888-317-8333.
Can I get copies of my check images? If so, is there a charge?
Check images are available through Online Banking at www.firstfedweb.com or you can contact
your local First Federal branch. Fees may apply.
What if I need a copy of the back side of a check?
Contact your local branch or the Checking Department at (503) 472-6171 or 1-888-317-8333.
No fee will be charged for a copy of the back side of a check.
What will happen to my original checks?
Your checks will be cross-shredded after they have been scanned and the check images are saved.
Will I be able to request my original cancelled checks?
Cancelled checks will no longer be available. Your check images are recognized as
legal documents and can be used for proof of payment or for any reason that might require
an original cancelled check. They are accepted by the IRS, courts of law and the Federal Reserve.
What if I need a cancelled check as proof of payment?
A check image can now be used as proof of payment instead of a cancelled check.
Check images are accepted by the IRS, courts of law and the Federal Reserve as evidence of
payment and in all other situations that required a cancelled check.
Do I need to change the way I write my checks?
No, however for the best quality digital image, please use blue or black ink
and avoid busy backgrounds on your checks.
What if I don’t want to receive check images in my statement?
Contact your local branch or the Checking Department at (503) 472-6171 or 1-888-317-8333.
What is the best method to store and organize my Image Statements?
In a First Federal three-ring binder! Pick up a free binder at your local branch.
Can I see my Image Statements and/or check images online?
Yes, images of cancelled checks are available within Online Banking.
How do I register for Online Banking?
Visit www.firstfedweb.com or contact your local branch or the Checking Department at
(503) 472-6171 or 1-888-317-8333 for assistance.
How often will my checks be posted online?
Check images will be available for review using First Federal's Online Banking within 48 hours of posting to your account.
Who should I contact if I have questions?
Contact your local branch or the Checking Department at (503) 472-6171 or 1-888-317-8333.
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