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VHeat Fuel Buying Program Frequently Asked Questions
VSECU is working hard to lock in the best fuel rates on #2 heating oil and propane gas for our VHeat members. Our staff has been very busy fielding questions from current members of the VHeat program and those interested in joining. Following are the frequently asked questions we receive and the best responses we have at this time. We thank you for your patience as we work to negotiate the best fuel rate deal for our VHeat members!
Why must I have a credit line? I do not use ANY credit – and do not want to start now.
What if I have a credit with Irving Oil? What should I do?
Will you deduct all of Irving's bills from this account, (furnace cleaning and repairs)?
Is there a cost involved if you have to switch to Irving Oil?
Is VSECU’s buying group required by Irving Oil to be on “Auto Delivery”?
When does Irving Oil debit my VHeat Clearing Account?
What is the maximum # of gallons a member is allowed to reserve?
Is there a minimum (or a maximum) number of gallons that I must order and commit to?
Must I keep money in the account to cover ALL of the fuel?
Are the VHeat Clearing Account and the VHeat Credit Line required or can I pay my fuel provider?
How does the VSECU automatic payment program work?
Can I use my VHeat Credit Line to finance anything other then fuel deliveries?
How long do I have to pay off my VHeat Credit Line if I choose to pay it off over time?
How do I know how many gallons to order?
What if I only ordered the gallons I need and want the fuel provider to stop delivering to my home?
What happens if I order 500 gallons of fuel and only use 400 gallons?
What happens if I run out of fuel?
Answers to Vheat Frequently Asked Questions
How much are the annual dues?
VSECU members currently using the VHeat Clearing Account and Credit Line will be charged $.05 per gallon. Other participants will be charged $.07 per gallon.
Why must I have a credit line? I do not use ANY credit – and do not want to start now.
As part of our fuel vendor agreement VSECU has assured our vendor that funds will be available for payment for all fuel deliveries. You don’t have to use the VHeat Credit Line and may never have to access it as long as you maintain funds in the Clearing Account. However, the Credit Line must be linked to the Clearing Account as insurance that funds will always be available to pay the fuel vendor. This insures your oil deliveries will continue uninterrupted.
What if I have a credit with Irving Oil? What should I do?
VHeat members with a credit must call Irving to request the credit. Irving Oil cannot apply a credit to any future deliveries and will debit the VHeat Clearing Account regardless of any credit balance. Members can and should deposit any credits to their Clearing Account. Members should use their Clearing Accounts to pay their Irving Oil fuel bills and should not mail checks directly to Irving Oil.
Am I locked into your program if I sign up for VHeat accounts? What happens if I find a better deal somewhere else?
No, you are not locked in to the program. You are only locked in after you sign the Fuel Agreement during the enrollment period.
Will you deduct all of Irving's bills from this account, (furnace cleaning and repairs)?
The only bills authorized to be automatically debited are the fuel bills. All other bills (cleanings, repairs) can be manually debited by a VSECU member service consultant. Contact a consultant for further details.
Is there a cost involved if you have to switch to Irving Oil?
Yes. Irving Oil will require you to switch to their propane tanks. The propane tank swap fee is $99.00 and up depending on the tank size (most are $99.00).
Irving Oil may require an inspection of your heating system prior to making a delivery, so you may need furnace cleaning, repairs and upgrades. Irving can give you a quote to have this work done, but you may choose to have another company perform this work. Call us for names of other contractors who can provide these services.
Is VSECU’s buying group required by Irving Oil to be on “Auto Delivery”?
Yes. Irving Oil requires all customers to be on automatic delivery. If your driveway conditions require a “will call” schedule, you’ll need to work that out with the Irving Oil.
When does Irving Oil debit my VHeat Clearing Account?
Irving Oil debits the VHeat Clearing Account as soon as one business day after each delivery of product, although you might not see the actual debit clear the VHeat account for 1-3 business days. You should plan on having the funds in your VHeat clearing Account before the delivery to avoid any Credit Line charges.
What is the maximum # of gallons a member is allowed to reserve?
Irving Oil has a maximum number of 5,000 gallons for each Irving Account.
Is there a minimum (or a maximum) number of gallons that I must order and commit to?
The price is based on the number of gallons you order. For an example: If you commit to 500 gallons and you require more then 500 gallons, you will pay the market price for the difference. If you are a new Irving customer, Irving Oil will require a minimum of 500 gallons. The maximum is 5,000 gallons per Irving Account.
Must I keep money in the account to cover ALL of the fuel?
You need to have enough money in the account to cover your fuel deliveries if you want to avoid using your VHeat Credit Line.
Why does my VHeat Credit Line have to be paid off by the end of the program if I make payments all year long and still have enough to pay for my fuel?
We require this so that participants do not begin the next heating season still paying for the previous year’s fuel.
Are the VHeat Clearing Account and the VHeat Credit Line required or can I pay my fuel provider?
Yes. The VHeat Clearing Account and Credit Line are required for any new members of the VHeat Fuel Buying Program. You would not pay your fuel provider directly because the fuel provider will submit all fuel payments to your VHeat Clearing Account.
How does the VSECU automatic payment program work?
Billing for each delivery will be sent directly to your VHeat Clearing Account which will be linked to a VHeat Credit Line. You may choose to make deposits into the Clearing Account in anticipation of upcoming fuel bills. You do earn interest on the balance in your Clearing Account. If you do access your Credit Line, you may use your Clearing Account to pay off the balance on your Credit Line in full at any time or pay it back over the course of the program year – whichever arrangement works best for you.
Can I use my VHeat Credit Line to finance anything other then fuel deliveries?
In addition to fuel, you may use your Credit Line to finance furnace cleanings, system upgrades, service contracts on your heating system, etc. Please contact the credit union before having a vendor put through charges to your Credit Line.
How long do I have to pay off my VHeat Credit Line if I choose to pay it off over time?
The VHeat Credit Line will require a minimum monthly payment equal to 10% of the balance plus any accrued interest. You should plan on repaying the entire balance by the end of the program year. Failure to do so may limit or prevent your participation in the program in future years.
How do I know how many gallons to order?
Your current fuel company can provide you with the number of gallons you typically burn in a year.
What if I only ordered the gallons I need and want the fuel provider to stop delivering to my home?
The agreement you are signing is for the entire heating season. You should plan on ordering enough fuel to get you through the heating season. The agreement requires automatic delivery. Irving Oil will continue to deliver until May 31, 2009.
What happens if I order 500 gallons of fuel and only use 400 gallons?
You only pay for the fuel you use. The extra 100 gallons remains with the fuel provider. You will pay annual dues on the 500 gallons you order and will not be refunded your dues if you use less than the amount you ordered.
What happens if I run out of fuel?
You should first call your Irving Oil’s 24-hour hotline at 1.888.310.1924. Of course, VSECU may also be contacted to assist in resolving any problems.
