Mobile Banking FAQ


What is Mobile Teller?

The Credit Unionʼs Mobile Teller service lets you stay in touch with your accounts while you are on the move.
You can view account balances, transfer funds and find ATMs right from your smart phone. Use your Android™
or iPhone® almost as if you were sitting at a computer and logged into Home Banking at www.merckcu.com.
Is there a fee to use Mobile Teller?
There is no charge from the Credit Union to download and use the Mobile Teller App. Your wireless carrier’s
data, message rates and roaming charges may apply.

What can I do with the Mobile Teller app?

Our Mobile Teller app is designed especially for your smart phone. With the Mobile Teller you can:
■ Check bank account balances
■ Search transaction history
■ Transfer funds
■ Pay bills
■ Make deposits (via our Remote Deposit Capture service)
■ Find ATMs and cash back locations near you


Is Mobile Teller Secure?

Yes. Mobile Teller goes beyond industry standard practices to maintain the privacy and security of your infor- mation. It employs all the safeguards of Home Banking including 128-bit Encryption and Multi-Factor Authentication.

What information is stored on my phone?

Merck Employees Federal Credit Union doesnʼt store any personal or account information on your phone.

How can I protect my personal information while using the Credit Union from my phone?

When using Mobile Teller, there are steps you can take to protect your accounts and sensitive information.
■ Never eMail your personal information to anyone.
■ Memorize your PIN. Do not store your PIN or account number in the notepad or address book of your phone.
Do not write them down in an obvious location. Do not give anyone your PIN.
■ Choose PINs that others could not guess. Donʼt base it on information found on social media sites. Or, donʼt
use your name, family membersʼ names, phone numbers, street addresses, birthdays or names of pets. Donʼt
use anything that could easily be associated with you.
■ Establish a Passcode (security code) to access your mobile phone. This locks your phone after it has been
idle for a while and won’t allow anyone to access it without this code. Check your phone’s instruction manual
for setup rules.

What if my mobile phone is lost or stolen?

You should notify your carrier right away. No one can access your Credit Union account information without
knowing your credentials, but you can always contact us at 732-594-3317 and we can assist in changing your
logon information.


What is the difference between “Current” and “Available” balance?

Current Balance is your total account balance. Available Balance is the amount of money in your account
which you can use. Current Balance minus any pending transactions or deposits on hold equals your Available


How many transfers between accounts can I make?

Federal regulation limits the number of withdrawals and transfers you can make from your Share Savings Account
during each statement cycle. You can make up to six withdrawals (including electronic funds transfers,
telephone transfers, checks, and pre-authorized payments and debit card purchases) per statement cycle.
Each transfer or payment is counted as one of the six limited transfers.
You may make unlimited withdrawals at an ATM or in person. You may also make unlimited withdrawals by
writing Checks on your Credit Union Checking Account.

How long until my transfer is posted?

Transfers between Merck Employees Federal Credit Union accounts post immediately and the funds are available
for all purposes right away.

DEPOSITS VIA RDC (Remote Deposit Capture)

You can deposit checks made out to you via your Smart Phone with RDC, Remote Deposit Capture.
■ Download the Credit Unionʼs new Mobile Teller App from your usual App source. ITʼS FREE! Register once,
in seconds, on the App.
■ Sign in using your existing Account Number and PIN. Scroll to Checking. Touch camera icon.
■ From the Mobile Capture page, follow all directions to make a secure deposit:
✔ FIRST, endorse check written to you. (No third party).
✔ Next, enter amount of check on Mobile App.
✔ Take pictures of the front and back of check with your Smart Phone.
✔ NEXT, hit SEND. An electronic file of the check will be sent to the Credit Union. The money will be added
to the Checking Account you selected. Youʼll receive a confirmation.
Funds don’t appear immediately. Longer on weekends. (Refer to the Credit Unionʼs Funds Availability
Disclosure for an exact timetable.)
✔ Write “Sent RDC” on the front of every Check so you DONʼT DEPOSIT THE SAME ITEM TWICE BY
ACCIDENT (i.e. in-person or by mail).
✔ Save hard copy of checks for 60 days. THEN DESTROY. Deposits subject to normal check holds.
✔ The maximum single deposit via RDC is $9,999.99.
✔ The Mobile Teller App goes beyond industry standard practices to maintain the privacy and security of
your information. It employs all the safeguards of Home Banking including 128-bit Encryption and
Multi-Factor Authentication.
✔ If you need help call: (732) 594-3317. Or, visit any office.

What is a Credit Union?

A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and hires a management team to run the credit union. The board also establishes policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.

Who owns a credit union?

Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn’t operate in that manner. Rather, each credit union member owns one “share” of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.

How did credit unions start?

The first credit union cooperatives started in Germany several centuries ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary’s Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member. Your Merck Employees Federal Credit Union was started on June 12, 1936.

What is the purpose of a credit union?

The primary purpose is to promote thrift and provide credit to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower fees and lower rates for loans as well as pay higher dividends on savings because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.

Are savings deposits insured?

Yes. All savings accounts including Payable on Death and IRA are insured up to $250,000 each by the NCUA, the National Credit Union Administration, an agency of the federal government. To learn more about about your insurance, visit http://www.youtube.com/watch?v=lDvCLY3gxNA

Who can join a credit union?

A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a “field of membership.” The field of membership may include where they live, where they work, or their membership in a social or economic group. Merck Employees Federal Credit Union’s field of membership includes spouse, children, siblings, parents and grandchildren of current and retired employees of Merck.