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CFCCU Blog

The Best Ways to Use a Few Hundred Dollars

Sometimes it can feel like you need thousands of dollars to move the needle on your finances even a little bit.

So if you find yourself with a few hundred dollars--say from a tax refund or an unexpected windfall--the temptation to spend it can be great. After all, how much difference can $500 make? But used wisely, even a few hundred dollars can put you on the road to a more financially secure future.

Here are some ways to make even a small amount of money count: 

 

  • Start an emergency fund. Ideally you want six months of living expenses stashed to cover unforeseen expenses, but $500 is a good start. And once you have a good start, it can spur you to keep contributing.
  •  Take advantage of compound growth. Before spending that money, consider putting it into your IRA (individual retirement account). Not only will compounding increase your balance over time, but increasing your pretax contributions can cut your tax bill.
  •  Save for a bigger-ticket expense. Whether it’s for a major house renovation or a dream vacation, put the money in a credit union savings account; whenever you have a little extra money come in, set it aside as well. You could end up with a gift the whole family will cherish for years.
  •  Donate to charity. If you itemize deductions on your tax return, consider helping an organization whose works you admire. Not only can you deduct the gift, but it might ultimately mean more to you than spending the money on yourself.

 

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Copyright 2018 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.

 

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The Courier Best of the Best 2018

It’s that time of year again for the Waterloo Cedar Falls Courier “Best of the Best” voting. The Cedar Falls Community Credit Union has been an honorable mention the last 15 out 15 years that the voting has been conducted.

This is important to us because we want the Cedar Falls Community Credit Union to be known in the Cedar Valley as the place to go in order to handle your financial services. If you've had a positive experience with Cedar Falls Community Credit Union, please go and vote to help let the rest of the Cedar Valley know.

Also, if you have a favorite teller or loan officer you may write their name in on the ballot to show appreciation for their services as well. The link provided below will take you to the online voting for "Week 1: Services, People, and Medical" categories, which ends this Sunday, June 17th at noon. Make sure to vote for your other favorite services in the Cedar Valley, the categories will change every Sunday.  

 

      BestOfBest2018http://www.wcfcourier.com/app/theBest/mobile/week1-voting.php

Thanks for your consideration and we look forward to seeing you soon. Don’t forget to stop in and check out our summer loan offers, and get your Adventureland or Lost Island tickets that we have for sale.  

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Sign up for Text Alerts on your CFCCU Credit & Debit Cards!

CC DC Alerts

 

CREDIT CARD ALERTS

Receive a text message or e-mail when your card is used. You can set custom alerts for transaction types and dollar amounts for:

  • Purchases over a selected dollar amount
  • International purchases
  • Online & phone purchases where the card is not physically present
  • Declined transactions


Click Here to sign up for alerts on your CFCCU Credit Card.

 

DEBIT CARD ALERTS

CFCCU participates in the SHAZAM BOLT$ program which allows cardholders to do the following:

  • Receive transaction alerts in SHAZAM BOLT$ application
  • Receive suspected fraud alerts
  • Set up alerts for transactions exceeding a certain dollar amount, card-not-present transactions, and international transactions


SHAZAM BOLT$ is available as a mobile application and online. The mobile application is available for free download.

Click Here for more information on SHAZAM BOLT$.

If you have any questions about either of these Alert Solutions, please do not hesitate to reach out to us! We have knowledgeable staff on hand that can assist in the process and get your notifications started!

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Call for Volunteer Community Board Members

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The credit union philosophy of "people helping people" is central to the management of the Cedar Falls Community Credit Union. If you share this belief and would like to make a difference for the credit union and the local community, we invite you to run for election for our Board of Directors. Eligible candidates must be a member in good standing and at least 18 years of age. Applications are due by March 16, 2018.

CFCCU board members serve a three-year term as unpaid volunteers. The commitment includes approximately 100 hours of service per year, including monthly evening meetings and a yearly planning session.

Applications are available online or by contacting Helen Pearce at This email address is being protected from spambots. You need JavaScript enabled to view it..

Members will vote to elect the new board members at the Annual Meeting held at 5:30 PM, Tuesday, March 20, 2018. The meeting will be held at the Cedar Falls Community Center, 528 Main Street, Cedar Falls, IA. At the meeting you will hear reports on CFCCU's acheivements and future plans. You'll also have the opportunity to visit with our board, staff, and fellow members.  Dinner will be served.  Help us celebrate our 60th Anniversary!! 

If you are planning on attending the meeting please RSVP at any of the branches by close of business on March 16, 2018.

If you are interested in running for a position on the Board of Directors, please request a candidate application from Helen and return it by March 16, 2018. Or you can access a PDF file ONLINE and then mail that in once you have it completed.

Helen Pearce Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Mailing address: Cedar Falls Community Credit Union, Attn Helen Pearce, 123 W 4th Street, Cedar Falls, IA 50613 Phone: (319) 266-7531

Responsibilities:

As a volunteer Director, your duties will include strategic planning and setting the general policy for CFCCU, which enables management to carry out day-to-day operations.

Qualifications:

Applicants must be at least 18 years of age and a CFCCU member in good standing.

Applicants should also have a knowledge or willingness to learn about credit unions and business operations, along with a strong desire to serve the credit union movement.

Time commitment:

Serving as a Director requires a commitment of approximately 100 hours per year.

Directors are encouraged to attend occasional conferences and required to complete self-study courses on credit unions and business topics.

Salary:

None

Positions:

There are four positions for three-year terms up for election this year.

Election Day:

Directors will be elected by CFCCU members who are in good standing and age 16 or older.

The Annual Meeting will be held Tuesday, March 20, 2018.

The meeting will be held at the Cedar Falls Community Center, 528 Main Street, Cedar Falls, IA.

Nominations will not be accepted from the floor at the annual meeting.

 

 

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Is Your Teen Financially Savvy? Part 4

By Hannah McElhose

Part 4 of 4 – Credit Unions vs Banks

On the surface, a credit union and a bank may seem similar. Some teens may think that banks and credit unions are the same thing, or even that credit unions ARE banks. But, if you dive deeper you will see that they are very different, and here’s why.

Banks are for profit organizations while credit unions are not for profit. This means that banks take their earnings and pay them out to people who own shares of stock in the bank. Whereas, credit unions take their earnings and invest that money back into the institution to give their members higher savings rates, lower loan rates, and lower fees.

Credit unions may offer more flexibility than banks. If you are someone with a troubled financial history, or if you are just new to the financial world, credit unions will typically be more willing to work with you to achieve your needs. The credit union philosophy is “People Helping People”. This is exactly why a credit union is an ideal choice for your teen's account. Will little to no credit history, a credit union will help your teen develop a sound financial future, from the ground up.  

Credit unions and banks also differ in the way they are run. In a credit union, each member gets one vote annually for the volunteer board of directors. Because they are voted in by the membership, the board is generally made up of a diverse group of individuals. In a bank, customers do not have any voting rights or say on how the bank is run. Board members are chosen by directors, they get paid, and they don’t always reflect the diversity of the customers. 

In conclusion, when choosing a credit union you will find lower interest rates on loans, higher interest rates on savings accounts, a volunteer board of directors, and members who are part owners of the credit union with a voice in how things are run. So what does this mean for you and your teen? When you need to borrow, your payment will be lower and when you want to save, you’ll earn more interest. Plus, you'll be charged less for the products and services you need. Ultimately, you and your teen get to keep more of your hard earned money.

If you need more reasons why you should choose a credit union over a bank, click here to read an article that outlines their top 10, but I encourage you to visit your local Cedar Falls Community Credit Union and hear it straight from them.

123 W 4th St. Cedar Falls, IA 50613 (319) 266-7531
420 Viking Road Cedar Falls, IA 50613 (319) 277-3690
2000 Heritage Way, Waverly, IA 50677 (319) 483-2241

www.cfccu.org

Hannah Headshot small

Hannah McElhose is a Senior at Cedar Falls High School, where she is actively participating in the CAPS (Center for Advanced Professional Studies) Program. As part of her CAPS project, Hannah performed an anonymous survey of high school students about their knowledge of money, savings and checking accounts, credit and debit cards, and saving for college. Using her survey results, Hannah prepared a 4 part blog series titled, 'Is Your Teen Financially Savvy?'

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Is Your Teen Financially Savvy? Part 3

By Hannah McElhose

Part 3 of 4 - Teens and Credit Cards

We all know that credit is important, but why don’t we teach our children good credit card habits from an early age? Teaching good credit and spending habits and how to be a responsible credit card holder can dramatically improve your teenager's future costs by driving their credit score up and paving the way for their future. Having a high credit score leads to being approved for loans and being offered the lowest possible rates on those loans. Employers are now looking at credit scores when they choose who to hire. Plus, rates on insurance premiums are sure to be lower due to having a great credit score. Another advantage to opening a credit card for your teen, is that they provide more safety than debit cards and cash when it comes to fraud. And if lost, it can easily be shut down.

Now that we've covered the advantages of your teenager having a credit card, let's talk about why you should consider the CFCCU credit card as an option. CFCCU offers great low rates on their cards and they will allow the spending limit to be low in order to minimize the chance of overspending. CFCCU offers text alerts at low thresholds, which enable you to monitor your child’s transactions. Lastly, your teen can make quick, easy payments via the CFCCU app, website, or in person at any branch of CFCCU.

Although there are many advantages to giving your teenager a credit card, there will be some risks. Risk comes with every situation, and can be used as valuable teaching moments with your child by providing him or her a better understanding of how to manage their credit when they are older.

If you'd like more information on this topic, click here to view an article I found interesting on Teenagers and Credit Cards.

I encourage you to reach out to your local Cedar Falls Community Credit Union today to see if this could be the right option for you and your teen.

123 W 4th St, Cedar Falls, IA 50613 (319) 266-7531
420 Viking Road Cedar Falls, IA 50613 (319) 277-3690
2000 Heritage Way, Waverly, IA 50677 (319) 483-2241

www.cfccu.org

Hannah Headshot small

Hannah McElhose is a Senior at Cedar Falls High School, where she is actively participating in the CAPS (Center for Advanced Professional Studies) Program. As part of her CAPS project, Hannah performed an anonymous survey of high school students about their knowledge of money, savings and checking accounts, credit and debit cards, and saving for college. Using her survey results, Hannah prepared a 4 part blog series titled, 'Is Your Teen Financially Savvy?'

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Is Your Teen Financially Savvy? Part 2

By Hannah McElhose

Part 2 of 4 - Teens and Checking Accounts

Picture this: your teenager just got his or her first job!! This is such an exciting time and means they will soon have money regularly paid to them. But, what if they have nowhere to put it? Providing your teen access to a checking account gives you and your teen a big advantage, and getting that first job is a great time to teach them how to manage their finances responsibly. Opening a checking account also provides more convenience and protection than carrying cash.

On the flip side, some teenagers have busy schedules leaving little time for a job. That's okay too. It is still be beneficial for your busy teen to have his or her own checking account. By opening a joint checking account, you can monitor your teen's finances from your account. If you are a parent who is always giving your child cash, this could be an easy, more convenient method because all you have to do is transfer the money into his or her account.

Cedar Falls Community Credit Union offers free checking accounts with free debit cards. Teens are able to keep track of spending using the CFCCU Mobile App or Online Banking system. This provides a quick and easy way for your teen to see what they are spending their money on, which can help them with money management when they get to life after high school. There are many advantages to having your account information at your fingertips, including turning a lost card off with the click of a button. This layer of protection can give you peace of mind that your teen's funds are safe and secure at CFCCU.

Click here to read a current article from The Simple Dollar on why your teen should open a checking account.

Call or visit your local Cedar Falls Community Credit Union to open a checking account for your teen today.

123 W 4th St, Cedar Falls, IA 50613 (319) 266-7531
420 Viking Road Cedar Falls, IA 50613 (319) 277-3690
2000 Heritage Way, Waverly, IA 50677 (319) 483-2241

www.cfccu.org

Hannah Headshot small

Hannah McElhose is a Senior at Cedar Falls High School, where she is actively participating in the CAPS (Center for Advanced Professional Studies) Program. As part of her CAPS project, Hannah performed an anonymous survey of high school students about their knowledge of money, savings and checking accounts, credit and debit cards, and saving for college. Using her survey results, Hannah prepared a 4 part blog series titled, 'Is Your Teen Financially Savvy?'

Continue reading

Is Your Teen Financially Savvy? Part 1

By Hannah McElhose

Part 1 of 4 - Teens and Savings

Do you have funds set aside for your teenagers that you plan on giving to them once they start college? If the answer is yes, you could be doing more harm than good in the long run. If your child is someone who has not experienced having access to money, giving them a large amount when they head off to school could be a dangerous situation, and they could end up spending it very quickly.

So what should you do? The most beneficial thing that you can do for your teenager is to give them access to a savings account before they leave for college. This will provide the opportunity to teach your teen lessons on money management, which is going to be an important skill in college or career after high school. It also teaches them the importance of saving and gives them an idea of how to save.

If you don’t have a savings account open it would be a great idea to open one as soon as you can! The Cedar Falls Community Credit Union offers teen savings accounts with a minimum balance of only $5.00, and your teen can open a Certificate of Deposit for as little as $100, which will pay a higher interest rate, earning them more money. Plus, with the Cedar Falls Community Credit Union mobile app, it is easier than ever to track finances, and you can transfer money between accounts with the click of a button.

Click here to read a great article that outlines 5 reasons why all kids should have savings accounts. 

Call or visit your local Cedar Falls Community Credit Union to start a savings account for your teen today. 

123 W 4th St, Cedar Falls, IA 50613 (319) 266-7531
420 Viking Road Cedar Falls, IA 50613 (319) 277-3690
2000 Heritage Way, Waverly, IA 50677 (319) 483-2241

www.cfccu.org

Hannah Headshot small

Hannah McElhose is a Senior at Cedar Falls High School, where she is actively participating in the CAPS (Center for Advanced Professional Studies) Program. As part of her CAPS project, Hannah performed an anonymous survey of high school students about their knowledge of money, savings and checking accounts, credit and debit cards, and saving for college.  Using her survey results, Hannah prepared a 4 part blog series titled, 'Is Your Teen Financially Savvy?'  

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Bad Guys Are Hard At Work

fraud alertIt’s that time of year – Bad Guys working overtime to separate people from their honestly-earned money with dishonest tactics. 

One of the latest is the bad guys call you and tell you that your utility bill has not been paid and is overdue.  You are told you need to pay $1,582 (or a number similar) or your power will be shut off within the hour. You can pay with a credit card, iTunes card, or any other prepaid card.

It’s important to use common sense when receiving calls such as this:

  • Never give out credit card or banking information over the phone.
  • Everyone should realize that any caller asking for money and wants you to get a pre-paid card (iTunes, Home Depot, etc.) and give them the information over the phone is trying to take your money. What is a utility company going to do with iTunes credit (listen while they work)?
  • Anyone with concerns about their electric or any other utility service, should hang up when the person calling asks for money and contact the utility the caller was claiming to represent.

 

As long as we talking about Bad Guys and what they are up to – here are a couple of favorite scams to be aware of:

  • The IRS calls and threaten to take you to jail for your unpaid tax bill. A reminder – the IRS doesn’t call and threaten you with arrest. And they certainly don’t take Target Cards, Home Depot Cards, iTunes Cards or a credit card over the phone to settle your debt.   
  • Your grandchild is not in jail.  The Sheriff doesn’t take iTunes Cards or credit cards for bail.
  • The guy calling from Microsoft is not from Microsoft and he’s not going to fix your computer.
  • The credit union or bank is not going to call you and offer to take a credit card or iTunes card as payment for a delinquent loan payment.

As the bad guys step up their efforts during the season of giving we need to step up our efforts and not GIVE THEM our money.  Protect yourself. Be vigilant.

With that said – have a very merry Christmas and happy new year. 

My new year wish for you is that you are not separated from your hard earned money by a bad guy working overtime.

 

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SHAZAM BOLT$

bolt banner2WE NOW HAVE SHAZAM BOLT$...

SHAZAM BOLT$ allows cardholders to do the following:
•View balance information for a primary account attached to a debit card
•Receive transaction alerts in the SHAZAM BOLT$ application
•Receive suspected fraud alerts
•Set up alerts for transactions exceeding a certain dollar amount, card-not-present transactions, and international transactions

SHAZAM BOLT$ also allows cardholders to take control of their account using transaction control. With transaction control, if your card is lost or stolen, or you just want to pause it while traveling, you can block or unblock your card with the quick tap of a button.

SHAZAM BOLT$ is available as a mobile application and online. The mobile application is available for free download from the iTunes® App Store or Google Play™.


Note:  There is no fee to use SHAZAM BOLT$. SHAZAM BOLT$ does not operate on voice over IP (VoIP), international numbers, or prepaid devices.


Cardholders can access SHAZAM BOLT$ from a personal computer (PC) or laptop at https://disclaimer.php?url=bolts.shazam.net/ShazamWebPortal/index.php. SHAZAM BOLT$ offers the same features whether accessed from a mobile device, PC, or laptop using the following Web browsers:
•Mozilla Firefox®
•Windows® Internet Explorer®
•Apple® Safari®

apple store   google play

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The Bankers Are At It Again

Advocacy image bank taxBankers are at it again, trying to tax credit union competition out of the marketplace, which would eliminate the low cost financial services credit unions provide Iowans. While complaining about credit unions, the banks fail to mention they control more than 95% of the business loans in Iowa and 86% of the total deposits, have realized record profits the last six years in a row and have utilized state tax credits to avoid nearly 50% of their own state franchise tax liability. Apparently record profits and market dominance are not enough, they won’t be satisfied until credit unions are gone. Visit www.ProtectFinancialChoice.com to learn more.

#ProtectFinancialChoice

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New Scam Alert!

Recently we've had several members receiving phone calls from someone pretending to be with our institution and claiming they are behind on their loan payments. The caller offers to help them lower their interest rate while they take care of making payment arrangements and of course ask for account/payment card information. The phone number listed has a local area code and the caller ID shows up as Our Community Credit Union. Please do not fall victim to this scam.  Cedar Falls Community Credit Union does not accept cards as a means of making a loan payment and will never ask you for that information over the phone.  Always be cautious when giving personal information to any person who calls you.  As always, if you feel the call is suspicious, hang up and phone the credit union immediately at 319-266-7531.

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Online Security Tips

fraud alertBeing a victim of fraud or having your identity stolen are two of the worst things that can happen. Not only do you have something stolen from you, but you have to spend your time, money and effort to get back to where you were.

Use the security tips below to protect yourself and your family when you are online at home or on a mobile device while you’re on the go.

First Tip - Add the Shazam Fraud Phone Number to your contact list so that if they call you can recognize them as "the good guys".  Name:  Shazam Fraud, Phone Number: 866-508-2693

Online Security Tips

  • Ensure your wireless internet router is secured with a strong password.
  • Keep firewalls and security systems on your personal computer updated.
  • Use only the latest operating systems on your mobile devices to ensure security systems are patched.
  • Be wary of using public Wi-Fi on a laptop or mobile device; do not make purchases when connected to public Wi-Fi.
  • Before making purchases online, ensure the URL starts with “https” and there is a padlock icon in the address bar. This indicates information you provide is encrypted.
  • If your browser notifies you that a site is not secure, hit the “back” button.
  • When opening emails, open only those from senders you recognize.
  • Do not click on links in emails from people you do not know or did not initiate a conversation with.
  • Watch out for misspellings, grammar issues or phrases like “we need you to confirm your membership with us” in emails, as these are good clues the email is a phishing attempt.
  • Limit the amount of personal information you provide to social networks.
  • Do not use the same password for all logins, and rotate your passwords regularly.

Prevent a Phishing Attempt

Please remember that CFCCU will NEVER ask for your personal information via a phone call, email, or text message. The steps you should follow when you receive this type of message or phone call are to ignore it, delete it, and phone us to report it. DO NOT follow the instructions given – when in doubt, phone the credit union.

Criminals will craft their false messages with a sense of urgency to make you think you need to follow the instructions they give you quickly, before you have a chance to think about it. For instance, “Your Cedar Falls Community Credit Union account has been shut down.” Or “CFCCU has deactivated your Credit Card. Phone XXX-XXX-XXXX to reactivate immediately.” Beware of these types of messages! Fraud attempts are occurring on a regular basis using a variety of names - we want to help you avoid becoming a victim.

Protecting Your Credit Report, Credit and Debit Cards

  • Minimize the number of credit and debit cards you use, and carry only one or two at a time.
  • Cancel any unused accounts. They provide additional targets for identity thieves. However, be aware that canceling credit cards may affect your credit score adversely.
  • If you expect a new or reissued credit or debit card in the mail and it doesn't show up on time, contact the issuer immediately.
  • Check your credit reports at least twice a year. Ask for the 3-in-1 merged credit report with a summary from all three credit bureaus. Under the federal FACT Act, consumers are entitled to one free credit report each year from each of the major agencies. 
  • Each month carefully review your financial statements, bank statements and phone bills- both land lines and cell phones- for unauthorized use.
  • Keep a list of your credit cards, bank accounts and investment accounts in a secure place. Include account numbers and phone numbers for customer service and fraud departments, so you can contact them quickly if cards are stolen or accounts are being fraudulently used.
  • Check your Social Security Earnings Statement each year for signs of fraud. You should receive it annually and it typically arrives three months prior to your birthday.

ID THEFT PROTECTION

Steps to protect your personal information:

  1. When logging on to CFCCU's Website, look closely at the site's URL to make sure it matches the credit union's name and actual web address. (www.cfccu.org)
  2. Log on to Online Banking only from a secure computer. Never log on from a public computer in a hotel or restaurant, and be careful when logging on to unknown networks with a laptop.
  3. If you get a warning e-mail, call the credit union -- don't click on any provided links.
  4. If your computer is acting strangely -- for instance, reacting slowly or getting pop-ups -- avoid using it for online banking until you can get it checked out.
  5. Keep anti-virus and anti-spyware software up to date on your computer.
  6. Install and maintain a firewall.
  7. Never respond to any e-mail that requests personal information.
  8. Be leery of fly-by-night, Internet-only banks with high interest rates on savings or checking accounts. Make sure the bank is FDIC-certified and is insured.
  9. And, most importantly, use a different user name and password for each of the websites you access. Your passwords should be complex, with numbers and symbols, and changed regularly.

 

bad checkIf you receive an email about buying something you're selling, or a parttime job offer as a "Secret Shopper", or a long-lost relative wants to send you money and then they send a  check in the mail - be suspicious - the check is probably bad.  If you put the check into your account, take money out and the check is returned, you are liable for the money you took out.  If the credit union suspects it might be a fraudulent check they will let you know and place a hold on the funds until the check clears.  This protects you!

It's a shame that today we must be ever vigilant against people who are not only trying to steal our money, but our identity as well.  NEVER share your account information, passwords with anyone!!

Remeber the First Tip - Add the Shazam Fraud Phone Number to your contact list so that if they call you can recognize them as "the good guys".  Name:  Shazam Fraud, Phone Number: 866-508-2693.  You should do that now while you're thinking about it.

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International CU Day

logoIn celebration of International Credit Union Day and Governor Kim Reynold’s proclamation declaring October 19 Credit Union Day in Iowa, the Iowa Credit Union League (ICUL) released a new report today that showcases the not-for-profit credit union industry’s economic contribution to the state.

Per The Economic Contribution of Iowa’s Credit Unions report, Iowa credit unions contributed $1.25 billion in total economic productivity in Iowa in 2016. Authored by Iowa State University economist Dave Swenson, the report analyzed the 3,668 credit union industry employees, the $228.8 million in payroll and benefits and the $732 million in total earnings in 2016 to find the total value of the credit union industry to Iowa’s economy. These direct values combined with Iowa credit unions’ use of local utilities, services to operate facilities and credit union employees’ spending in local communities create a multiplier effect that supports even more jobs in Iowa. 

The report found that every $1 spent by the state’s credit unions added $0.70 elsewhere in Iowa’s economy, and every job at an Iowa credit union supports an additional 1.1 jobs in the rest of the Iowa economy. Iowa credit unions’ $1.25 billion economic contribution in Iowa is comprised of $637.85 million in value added GDP, of which $386.49 million is labor income to 7,703 job holders.

 "Credit unions showcase the cooperative spirit through their "people helping people" philosophy," said Gov. Reynolds.  "As a credit union member myself, I recognize the value credit unions provide to their members and the communities they serve by empowering Iowans to improve their financial future." 

Gov. Reynold’s Credit Union Day proclamation recognizes the Iowa credit union industry for its continuing advancement of the financial well-being of credit union members and the contributions made to their respective communities. It states, "Credit unions embrace a ‘people-helping-people’ philosophy through pooling of personal resources and leadership abilities for the good of the cooperative, empowering members to improve their financial future and uniting to help those in need."

"Credit unions embrace a simple idea that by working together, people can improve their financial lives," said Patrick S. Jury, President/CEO of ICUL. "On International Credit Union Day we celebrate the spirit of the global credit union movement and also recognize the positive impact Iowa’s credit unions’ have on our state’s economy. The not-for-profit, cooperative structure saves Iowa credit union members $100 million annually – helping to improve the financial lives of more than 1.1 million Iowans and their communities across Iowa."

Sponsored by the World Council of Credit Unions since 1948, International Credit Union Day is celebrated to remember credit unions’ proud history and promote awareness of and support for the credit union difference. As not-for-profit, financial cooperatives, credit unions provide an effective and viable alternative to for-profit financial institutions for more than 217 million members in 105 countries worldwide. "People helping people," this year’s International Credit Union Day theme, is the foundational philosophy of the credit union movement. It embraces the cooperative spirit as credit unions exist to serve members and provide a safe place to save money and access affordable loans.

Download the 2017 Iowa Credit Union Day Proclamation

Download the Economic Contribution Report Executive Summary

Download the full Economic Contribution Report

 

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Partners-In-Education

 josh Hurley Presentation3As part of the Partners-In-Education program with Holmes Junior High, Josh Hurley from Cedar Falls Community Credit Union gave a presentation to Mrs. Adam’s freshman class on Auto Loans.  Mrs. Anderson wanted the students to understand the importance of credit and managing their personal finances.   

Josh told the students that being prepared is the best way to keep car-buying choices and decisions on the right track. He explained to them that they need to examine all aspects of the car-buying process including: understanding the differences between buying and leasing; evaluating used cars; financing and applying for loans; and making on time payments.

According to Sarah, one of the students, “…I learned how much your credit score can affect your life and what you can and cannot do because of it.”   Another student learned, “… that if someone repossesses a car or a house you still have to pay for it.”

According to Josh, “The students were eager and enthusiastic to learn about how to buy a car along with the ins and outs of credit.  They were attentive through the entire session.”

Cedar Falls Community Credit Union was originally chartered in 1958 as a member-owned financial co-operative serving the needs of a local machinists union.  Membership was extended to other groups of employees over the years until in 1982, CFCCU received a community charter.  Our current field of membership includes individuals who live or work in 20 Iowa counties: Allamakee, Benton, Black Hawk, Bremer, Buchanan, Butler, Chickasaw, Clayton, Delaware, Grundy, Fayette, Floyd, Franklin, Hardin, Howard, Linn, Marshall, Mitchell, Tama and Winneshiek.

 

 

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New Home - A Dream Come True

holly PorterHolly Porter, a long-time member of Cedar Falls Community Credit Union (CFCCU) is pictured with Dawn Saterfield, Premier Lending Alliance (PLA), Helen Pearce, CFCCU CEO, and Chad Kaeppel, CFCCU VP of Lending.

 Holly recently purchased a new home utilizing the credit union’s FHLB Grant. The FHLB grants are supported by local financial institutions and provide financing and direct funding tools which support affordable housing and local community lending initiatives.

 Holly told us, "The credit union went above and beyond my expectations to help me realize my dream of owning a home. "If you have a dream of owning your own home and think it’s impossible, call Dawn or Chad at the Credit Union (319) 266-7531 and find out how they can help you.

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Member Appreciation Day

Member Appreciation Facebook

 

We started a remodeling project on our Main Office in downtown Cedar Falls in January of 2017. To celebrate the completion of the remodel, we are planning a Member Appreciation Event as a means of saying thank you to our members for putting up with the mess for the last 9 months.

CFCCU’s "Member Appreciation Tailgate Party" will be held on Friday, October 6th, from 11:00 AM to 2:00 PM. There will be lunch, games, and prizes. According to Helen Pearce, CEO, "We are so thankful that our members have been understanding with the mess of remodeling. It seemed like the teller stations were moving every week and the entire place was filled with dust. We hope you’ll join us to celebrate the new look!"

 About Cedar Falls Community Credit Union: Cedar Falls Community Credit Union was originally chartered in 1958 as a member-owned financial co-operative serving the needs of a local machinists union. Membership was extended to other groups of employees over the years until in 1982, CFCCU received a community charter. Our current field of membership includes individuals who live or work in 20 Iowa counties: Allamakee, Benton, Black Hawk, Bremer, Buchanan, Butler, Chickasaw, Clayton, Delaware, Grundy, Fayette, Floyd, Franklin, Hardin, Howard, Linn, Marshall, Mitchell, Tama and Winneshiek.

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Kelli Aikey Best of the Best Loan Officer

1st best of bestKelli Aikey, a CFCCU Loan Officer was selected as the top Loan Officer in the recent Best of the Best competition held by the Waterloo Courier.  CFCCU was selected with a Honorable Mention.

Cedar Falls Community Credit Union is your hometown credit union that meets the financial needs of people who live and work in the Cedar Valley. We have been successful in the Cedar Valley since 1958 because we take pride in what we do. Our current field of membership was recently expanded by the Iowa Credit Union Division to include individuals who live or work in 20 Iowa counties: Allamakee, Benton, Black Hawk, Bremer, Buchanan, Butler, Chickasaw, Clayton, Delaware, Grundy, Fayette, Floyd, Franklin, Hardin, Howard, Linn, Marshall, Mitchell, Tama and Winneshiek.

"We are so fortunate to have such a knowledgeable staff who really care about what they do. It also makes our jobs easier when we have the best members anyone could ask for who trust us to help them," said CEO Helen Pearce. "And when we are able to help members in a time of need, that’s when we create those unforgettable bonds."

We are a local member-owned financial cooperative, providing a wide range of financial products and services, including savings accounts, certificates, IRAs and loans of all types with competitive rates. Established in 1958 in Cedar Falls, we continue to be large enough to provide valuable services to our members, yet still small and local enough to really know our members and their needs and expectations.

Cedar Falls Community Credit Union has been among the Best of the Best 15 out of  the last 15 years. Thank you to our members for voting us Best of the Best!

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Hackers Hack Equifax

credit card webEquifax said Thursday that it was alerting those who were affected by the hack by mail. They have also set up a web site, equifaxsecurity2017.com, to help consumers understand the breach and check whether they were affected. The company is offering one year of free credit monitoring and identity-theft protection to anyone who may have been affected.

“This is clearly a disappointing event for our company, and one that strikes at the heart of who we are and what we do. I apologize to consumers and our business customers for the concern and frustration this causes,” chairman and chief executive Richard F. Smith said in a statement published on the company’s website. “We pride ourselves on being a leader in managing and protecting data, and we are conducting a thorough review of our overall security operations. We also are focused on consumer protection and have developed a comprehensive portfolio of services to support all U.S. consumers, regardless of whether they were impacted by this incident.”

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CFCCU Ranked Fourth Nationally in Value to Members

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In the category of Credit Unions between $100 and $250 Million in assets, Cedar Falls Community Credit Union ranked fourth among nearly 733 credit unions nationwide in the value provided to members, according to the Return of the Member (ROM) report released by Callahan & Associates, a credit union research and consulting firm located in Washington D.C.

 

The quarterly report is a comprehensive scoring system of member value with consideration to three core credit union functions: savings, lending and product usage. Cedar Falls Community Credit Union earned a total score of 99.59% in the most recent ROM report reflecting data from the first quarter of 2017.

 

"We’re excited to be ranked No. 4 nationally in the latest Return of the Member report," said Cedar Falls Community CEO Helen Pearce. "This report shows that we are giving our members exceptional value."

 

More information about the Return of the Member report, including how scores are calculated, is available from Callahan & Associates.  

Cedar Falls Community Credit Union was originally chartered in 1958 as a member-owned financial co-operative serving the needs of a local machinists union.  Membership was extended to other groups of employees over the years until in 1982, CFCCU received a community charter.  The current field of membership includes individuals who live or work in 20 Iowa counties: Allamakee, Benton, Black Hawk, Bremer, Buchanan, Butler, Chickasaw, Clayton, Delaware, Grundy, Fayette, Floyd, Franklin, Hardin, Howard, Linn, Marshall, Mitchell, Tama and Winneshiek.

For more information, visit www.cfccu.org or call (319) 266-7531.

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