Password System FAQs

What do I need to provide NWFCU in order to initiate a wire transfer?
What is the purpose of the new password system?
What are the character requirements for my password?
Will the password ever expire?
Will I be notified when my password is expiring?
Why do I need to complete a Funds Transfer Agreement?
Can a joint owner on the account set up a password?

What do I need to provide NWFCU in order to initiate a wire transfer?
All members must have a signed Funds Transfer Agreement on file with NWFCU, as well as a wire transfer password which can be chosen using the Password Request Form.

What is the purpose of the new password system?
The password system was developed to provide enhanced security and to help prevent others from making fraudulent transactions on your account.

What are the character requirements for my password?
The password must be a minimum of 6 characters and a maximum of 20. We recommend that you set up a strong password, which is a mixture of letters, (both upper and lowercase) numbers and symbols.

Will the password ever expire?
Yes, passwords will expire 9 months from the original set up date and every 9 months thereafter.

Will I be notified when my password is expiring?
Yes, 2 months prior to your password expiration date, you will receive a letter asking you to choose a new password and complete a new Password Request Form.

Why do I need to complete a Funds Transfer Agreement?
The Funds Transfer Agreement is the disclosure related to all member account transfers. Credit unions are required by law to disclose this information to its members. NWFCU is requiring members to sign the agreement in order to perform wire transfers.

Can a joint owner on the account set up a password?
Yes, a joint owner has the same account access rights as the primary owner so they are able to set up or update a password.