Bills and Payments FAQs

Have a question about your loan? We have answers!

Plus, at the bottom of the page, you’ll find some of our most requested forms — for setting up automatic payments, changing your due date, and more.

You can easily pay your loan bill in WebPay, or via an array of other payment methods.

All payments processed in WebPay before 6 PM (Pacific Time) will be credited on the same day, excluding weekends and holidays. Those will post the next business day.

After making your first payment via WebPay, you will get a text from "32576" inviting you to PayPrompt. Text back “YES” to start receiving reminders.

You will be sent a loan bill each month if you owe a payment for that month.

If you have signed up for eStatements, your loan bill will be available in the BayFed Mobile App and in BayFedOnline.

If a loan is already “paid ahead,” a new loan bill will not be generated.

Unfortunately, members may not pay a year ahead, but you may pay a month or two ahead, depending on your loan type.

For mortgages: Members may pay the current month and the following month.

For consumer loans (such as personal loans, vehicle loans, etc.): Members may pay the current month and the following two months.

Contact us at 831.479.6000, option 3, or visit a Bay Federal branch, to discover which options are available for your loan.

Note: If you pay more than the amount due each month, the excess will be applied in the order specified in your loan documents.

All requests to change payments made via WebPay need to be submitted on the same day before 5 PM (Pacific Time). Call our Member Service Center at 831.479.6000, option 3.

You can pay amounts that are coming due on your loan (not principle-only payments). You may pay up to $4,000 from an external financial institution, and you may pay up to $1,000 daily using a debit/credit card.

We’re happy to investigate for you. Please call our Member Service Center at 831.479.6000, option 3.

Unfortunately, if you have caused the Credit Union a financial loss, you will longer be considered a member in good standing.

It is Bay Federal’s policy to limit or revoke services to members not in good standing. For more information, refer to the Limitation of Service for Members Not in Good Standing Policy.

Requests for Information and Qualified Written Requests (as defined in RESPA) must be sent to:

Bay Federal Credit Union
Attention: Loan Servicing
3333 Clares Street
Capitola, CA 95010

Bay Federal responds promptly to all qualified written requests. Please include the following information in all written requests.

Borrower Name(s)
Account Number
Property Address

Thanks to the Service-Member Civil Relief Act, you may be entitled to legal rights and protections if you — or any owner or occupant of your home for mortgage loans — are, or recently were:

  • On active duty or active service as a federal or state Military Service-Member
  • Or if you are a dependent of such a Military Service-Member

For more information, please contact us at 831.479.6000, ext. 785.


Most mortgages have fixed monthly payments. They are typically amortized loans, where the interest accrual is based on a set schedule.

For instance, a July 1 payment covers June’s interest and principal payment. The July 1 payment will have the same amount applied to principal and interest if you make your loan payment on June 30 or July 2.

Auto Loans and Consumer Loans

Most non-revolving loans are simple-interest loans. This means that the payment is applied first to the interest that has accrued since the previous payment was made, and the rest is applied to the principal balance as of the date the payment is received.

Based on the number of days between payments, the amount that is applied to interest each month fluctuates.

Credit Card (and other line-of-credit loans)

The Interest Charges for a billing cycle are computed by applying the Daily Periodic Rate to the Average Daily Balance of Purchases, multiplied by the number of days in the cycle.

The Daily Periodic Rate is determined by dividing the Annual Percentage Rate (APR) by 365 and will change when the Annual Percentage Rate (APR) changes.

If you are experiencing financial difficulties, you may qualify for a deferral or reduced loan payment through Bay Federal’s Consumer Preservation Program.

To qualify, you must:

  • Have made a minimum of 12 payments to the Credit Union on your auto loan.
  • Have sufficient income to qualify for relief.

Note: All borrowers and co-borrowers must sign the Consumer Preservation Program Application and submit supporting income and hardship documentation to Loss Mitigation for review. 

If you have any questions contact Loss Mitigation at 831.479.6000, ext 124.  

If you're at risk of missing a mortgage payment or foreclosure, please review our Foreclosure Prevention page for helpful information. 

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