What is Bacon Pay? A Complete Guide to USPS Federal Credit Union’s Online Loan Payment Service

Bacon Pay, also known as PayFast, is an online and phone payment system offered by USPS Federal Credit Union that allows members to easily make loan payments. With Bacon Pay, USPS FCU members can pay their personal, auto, line of credit, home equity, and share secured loans in just a few clicks either on the USPS FCU website or through the Bacon Pay phone system.

What is USPS Federal Credit Union?

Before diving into the details of Bacon Pay it’s helpful to understand what USPS Federal Credit Union is. USPS FCU is a credit union that serves employees and retirees of the United States Postal Service and their families. It offers a full range of financial services including savings and checking accounts loans, credit cards, mortgages, insurance, and more.

As a credit union, USPS FCU is a member-owned, not-for-profit financial cooperative. This structure allows it to focus on providing value and competitive rates to its member-owners rather than earning profits for outside shareholders USPS FCU serves over 1 million members across all 50 states

What is Bacon Pay?

Bacon Pay, also marketed as PayFast by USPS FCU, is an online and phone loan payment system offered exclusively to USPS FCU members. It allows users to quickly and easily make payments on their USPS FCU loans via the credit union’s website or by calling a toll-free number.

With Bacon Pay, USPS FCU members can:

• Make loan payments 24/7 via the credit union website
• Pay loans by phone 24/7 using the Bacon Pay toll-free number
• Pay almost any USPS FCU personal, auto, LOC, HELOC, or share secured loan
• Use a checking account or eligible debit card from another institution
• Set up recurring payments for automatic debits each month
• Make one-time future dated payments up to 14 days in advance
• Pay extra principal to pay loans down faster

Bacon Pay provides a convenient way for postal employees and retirees to manage their USPS FCU loans from anywhere at any time of day. It eliminates the need to mail in checks or visit a branch during business hours.

Benefits of Using Bacon Pay

There are many benefits that USPS FCU members can take advantage of by using Bacon Pay to make their loan payments:

Convenience

• Make payments 24/7 on the USPS FCU website
• Or call anytime using the Bacon Pay phone payment system
• Avoid having to mail checks or visit a branch

Flexibility

• Use accounts from other institutions to make payments
• Set up automatic recurring payments or make one-time future dated payments
• Pay extra principal to pay loans down faster

Peace of Mind

• Get payment confirmations emailed to you
• Stay on top of loans by making payments as soon as you have the funds
• Avoid late fees by scheduling future dated payments

Cost Savings

• Bacon Pay phone payments cost only $10
• Recurring website payments are completely free
• One-time website payments cost just $2 per loan

What Loans Can I Pay with Bacon Pay?

Bacon Pay allows USPS FCU members to easily pay a wide variety of their loans:

• Personal loans – unsecured loans that can be used for debt consolidation, medical expenses, home improvements, and more

• Auto loans – loans for purchasing new or used vehicles

• Lines of credit (LOCs) – revolving credit lines that work similarly to credit cards

• Home equity lines of credit (HELOCs) – revolving credit secured by your home’s equity

• Share secured loans – loans secured by funds you have in your USPS FCU savings account

The only major USPS FCU loans that cannot be paid via Bacon Pay are first mortgages and credit cards. Those must be handled through other online payment options on the USPS FCU website.

How to Sign Up for Bacon Pay

Signing up for Bacon Pay is quick and easy for USPS FCU members. Just follow these steps:

1. Go to the USPS FCU website and click on “Make a Payment”

2. Select the “PayFast – Make a Loan Payment” option

3. Click on “Enroll”

4. Enter your member number (this is your USPS FCU account number)

5. Verify your account information

6. Create a username and password

7. Agree to the terms and conditions

Once enrolled, you can start making Bacon Pay website payments immediately. You can also call the Bacon Pay phone payment line anytime without needing to pre-enroll.

How to Make Bacon Pay Phone Payments

Making loan payments over the phone with Bacon Pay is extremely simple for USPS FCU members:

1. Call 844-862-6200 – the Bacon Pay toll-free phone number

2. Enter your member account number

3. Enter the loan suffix for the loan you want to pay

4. Enter the payment amount

5. Provide your debit card information

6. Follow the prompts to complete your payment

Phone payments must be made with a checking account or eligible debit card from another financial institution. The $10 phone payment fee will automatically be deducted from your payment amount.

How to Make Bacon Pay Website Payments

Making online Bacon Pay payments through the USPS FCU website is just as easy:

1. Log into your account at www.uspsfcu.org

2. Click on “Make a Payment” and select “PayFast”

3. Select the loan you want to make a payment on

4. Enter the payment amount

5. Enter your external account information

6. Select if you want it as a one-time or recurring payment

7. Review payment details and submit

Website payments can be made using another institution’s checking account or eligible debit card. One-time payments cost $2 per loan, while recurring payments are free.

Bacon Pay Payment Limits, Schedules, and Fees

There are some payment limits, processing schedules, and fees to be aware of when using Bacon Pay:

• Payment limit – $10,000 per payment

• Payment processing – Online payments by 8pm CST hit accounts in 1 business day, after 8pm in 2 days

• Phone fees – $10 per phone payment

• Website fees – $2 per one-time payment, recurring payments are free

• NSF fees – standard NSF fees apply to returned Bacon Pay payments

If you need to make a payment over $10,000 or have any issues with processing times, be sure to contact the USPS FCU collections department for assistance.

Tips for Getting the Most from Bacon Pay

Here are some tips to help USPS FCU members get the most convenience, savings, and peace of mind from the Bacon Pay loan payment system:

• Set up free recurring payments to automate your monthly loan payments

• Use Bacon Pay to pay extra principal and pay loans off faster

• Schedule one-time future dated payments when you know funds are coming

• Sign up for payment confirmations to easily track payments

• Use Bacon Pay to avoid late fees by paying anytime day or night

• Take advantage of paying by phone to skip $2 website fee

• Contact USPS FCU if your situation changes to update your payment info

• Check the site for new features as enhancements are frequently added

Bacon Pay Provides Payment Flexibility

In today’s busy world, convenience and flexibility are highly valued when managing finances. Bacon Pay gives USPS FCU members an easy way to stay on top of their loans by making payments 24/7 on their own schedules.

Whether setting up recurring payments for automation or making one-time future dated payments for flexibility, Bacon Pay has USPS FCU members covered. By leveraging this loan payment system, postal employees and retirees can save time and money while always keeping their loans in good standing.