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CFCCU Blog

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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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.”

READ MORE

 

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CFCCU Ranked Fourth Nationally in Value to Members

graph

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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Payday Lending Trap

payday checkYou’re in a financial bind and need some quick cash. You’ve seen payday loan stores all over town and think “Maybe I should try that…”  Don't fall into that trap! Getting a loan with a payday lender could send you down a deep hole that may take years to get out of.

Here’s how payday lenders catch and hold consumers: To receive cash, you write a check to them for the amount plus the finance charge, which the lender will cash the next time you get a paycheck. They’ll tell you finance charges range from $15 to $50 per $100, but won’t tell you exactly what the interest rate (or APR) will be.

Here’s the math to figure out what you’d end up paying by borrowing $400 from a payday lending store. There’s a finance charge of $50 and a 14-day term:
    • Divide the finance charge by the amount you’re borrowing. $50/$400 = .125.
    • Multiply the answer by the number of days in a year. .125 x 365 = 45.625.
    • Divide the answer by the number of days in the term. 45.625/ 14 = 3.2589.
    • Move the decimal point to the right two places. This is your APR. 325.89%

At the end of your 14-day term, you have to pay them $450. But if you can’t pay it off entirely, you’ll have to roll the balance over, pay another $50 fee, as well as interest charges. At the end of your second term, your balance is almost $600, and if you can't pay that off entirely, you roll it over again. See how quickly your $400 loan can cost you thousands of dollars?

So what are some alternatives?

     * Ask your employer for an advance on your next paycheck.

     * Consider asking family members or friends for a short-term loan. 

     * A personal loan through Cedar Falls Community Credit Union. We offer loans with low, fixed interest rates.

     * Open a low-cost, low-interest credit card through Cedar Falls Community Credit Union and use it only for emergencies.

No one wants to find themselves in a financial emergency, but there are much better options than turning to a payday lender. To find out more about payday lending and learn about safer ways to get quick cash, visit the Consumer Federation of America webpage www.paydayloaninfo.org/consumer-help.

If you’d like help getting control of your spending, see us at Cedar Falls Community Credit Union. We’re committed to helping our members gain financial well-being and offer one-on-one financial counseling as well as additional resources to help you get control of your finances. Contact a loan officer at (319) 266-7531 for more information.


 
Copyright 2017 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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Another Warning - Bad Guys Working Overtime

fishingSometimes we think we hear enough about "phishing", but the bad guys are working overtime to trick us out of our identity and money.

When internet fraudsters impersonate a business to trick you into giving out your personal information, it’s called phishing. Don't reply to email, text, or pop-up messages that ask for your personal or financial information. Don’t click on links within them either – even if the message seems to be from an organization you trust. It isn’t. Legitimate businesses don’t ask you to send sensitive information through insecure channels.

Examples of Phishing Messages

You open an email or text, and see a message like this:

"We suspect an unauthorized transaction on your account. To ensure that your account is not compromised, please click the link below and confirm your identity."

"During our regular verification of accounts, we couldn't verify your information. Please click here to update and verify your information."

"Our records indicate that your account was overcharged. You must call us within 7 days to receive your refund."

The senders are phishing for your information so they can use it to commit fraud.

How to Deal with Phishing Scams

Delete email and text messages that ask you to confirm or provide personal information (credit card and bank account numbers, Social Security numbers, passwords, etc.). Legitimate companies don't ask for this information via email or text.

The messages may appear to be from organizations you do business with – banks, for example. They might threaten to close your account or take other action if you don’t respond.

Don’t reply, and don’t click on links or call phone numbers provided in the message, either. These messages direct you to spoof sites – sites that look real but whose purpose is to steal your information so a scammer can run up bills or commit crimes in your name.

Area codes can mislead, too. Some scammers ask you to call a phone number to update your account or access a "refund." But a local area code doesn’t guarantee that the caller is local.

If you’re concerned about your account or need to reach an organization you do business with, call the number on your financial statements or on the back of your credit card.

Action Steps

You can take steps to avoid a phishing attack:

Use trusted security software and set it to update automatically. In addition, use these computer security practices.

Don't email personal or financial information. Email is not a secure method of transmitting personal information.

Only provide personal or financial information through an organization's website if you typed in the web address yourself and you see signals that the site is secure, like a URL that begins https (the "s" stands for secure). Unfortunately, no indicator is foolproof; some phishers have forged security icons.

Review credit card and bank account statements as soon as you receive them to check for unauthorized charges. If your statement is late by more than a couple of days, call to confirm your billing address and account balances.

Be cautious about opening attachments and downloading files from emails, regardless of who sent them. These files can contain viruses or other malware that can weaken your computer's security.

Report Phishing Emails

You can report phishing email to This email address is being protected from spambots. You need JavaScript enabled to view it.. The Anti-Phishing Working Group — which includes ISPs, security vendors, financial institutions and law enforcement agencies — uses these reports to fight phishing.

If you might have been tricked by a phishing email:

File a report with the Federal Trade Commission at www.ftc.gov/complaint.

Visit the FTC’s Identity Theft website. Victims of phishing could become victims of identity theft; there are steps you can take to minimize your risk.

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The Lease is Up--Should You Buy the Car?

car leaseYour auto lease gives you a right to buy the vehicle for a fixed price at the end of the lease. But should you? If you have less than three months remaining on a lease, now's the time to decide. So, find your lease and read on.

Do you like the car? If it's performed well with a minimum of unexpected cost and repair, then it might be good to renew the lease.

Will it still fit your needs? If you're driving a 2-door sports coupe but are expecting a baby, you probably need a new car.

What is your lease-end buying price? You'll find the purchase option price in your lease. Let's assume it's $14,000.

What is your vehicle actually worth? Check websites such as Kelley Blue Book (kbb.com) and Edmunds.com Let's assume your highest wholesale value is $15,000.

How does your vehicle's wholesale value compare with its lease value? If it's higher than the lease value, then it's a good deal. In our example, your lease says you can buy for $14,000. You've confirmed wholesale value is $15,000. You're buying a car you know and like for $1,000 less than its wholesale value. Buy the car.

What if the wholesale value is less than the lease value? If it's a lot less, don't buy the car. It doesn't make sense to buy the car if your lease's buy-out price is $14,000, and the car's wholesale value is only $11,000.

What's the bottom line? If your lease car is a good friend, and you can buy it for no more than $1,000 over wholesale value, that's a smart buy. Your next smart decision is to finance it at Cedar Falls Community Credit Union.

Copyright 2017 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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2017 Best of the Best

2017 best of bestThis is the week that the Waterloo Cedar Falls Courier conducts their "Best of the Best" voting.  We have been Honorable Mention 14 out of  the last 14 years that Best of the Best has been in existance. Cedar Falls Community Credit Union wants to be known in the Cedar Valley as the place to go to have all of your financial needs met.  If you feel that your experience with Cedar Falls Community Credit Union has been a positive one, we ask you to fill in "Cedar Falls Community Credit Union" on the ballot form and let the rest of the Cedar Valley know where they can get their banking needs met. We won't suggest who to vote for in the Teller or Loan Officer category - but, if you have any favorites feel free to write their name in as well. Also, don’t forget to vote for all your other favorite locals while you’re at it! The following link will take you to the online voting ballot for the "Services, People, and Medical" category, which ends this Sunday, June 18th at noon. Each Sunday, a new category will be open for voting.

Link – http://www.wcfcourier.com/app/theBest/mobile/week1.php

Thank you so much for your consideration! We look forward to seeing you in our soon to be completed remodeled spaces. Enjoy the rest of your summer an don't forget we have Lost Island Water Park and Adventureland tickets for sale.

existence.

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Out in the Open: Landscaping Key to Home's Value

landscapeYou don’t have to get away to the great outdoors. The best outside spaces could be in your own back—or front—yard.  

The outdoor evolution Today’s outdoor spaces are varied, intricate, and personalized. It’s not unusual to see combinations of decks, patios, water features, and even fire elements, says Rick Meinzer of Platinum Landscapes and Pools, in Provo, Utah. “Some of the best hours to enjoy the environment are not in the heat of the day,” he says.

 Evolving material selections also offer homeowners choices. For example, composite decking can eliminate splinters and maintenance. Pavers and retaining wall components fashioned from concrete offer uniformity in color and appearance, making them an attractive alternative to natural stone.

First looks Curb appeal remains the foundation of that critical first impression when selling a house. An attractive, well-maintained front yard invites prospective buyers to take a closer look and conveys confidence that current owners paid as much attention to the inside of the house as they did the outside, says Lisa Morano of Morano Landscape, in Mamaroneck, N.Y.

 Homeowners without a deck or patio are wise to consider installing one before sale, says Kathleen Birkel Dangelo, vice president and general counsel of The Ohio Valley Group, a landscape and tree service contractor in Chagrin Falls, Ohio. “Some kind of deck or patio is essential to resale,” she says.

The professional approach Frugal homeowners often tackle their own landscaping projects to stretch their dollars. Dangelo encourages individuals to at least meet with professionals before taking on a significant landscaping project.
“Do-it-yourself projects always tend to look like you did it yourself,” she says. If budgets are limited, Dangelo recommends developing a phased plan to implement over a series of years to spread out costs.

Money talks Setting a budget is a smart step for homeowners who want to control cost and outcomes. Dangelo says landscapers can work with homeowners to review options in broad strokes and then together can home in on a plan and budget that meet the client’s goals. 

Cedar Falls Community Credit Union can help you set a budget for your landscaping plans or provide the funding you need to make your landscaping visions a reality. Stop by or call today at (319) 266-7531.

Copyright 2017 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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America's Credit Unions Save Members $$

 

state of iowa benfitsAmerica's Credit Unions Saved Members over $10.2 Billion in benefits for the year ending December 31st, 2016. Iowan's saved over $104 Million for an average of $182 per member household.   Just an interesting fact.

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Yes - You Can Be a Member

join now webIf you thought you couldn't join Cedar Falls Community Credit Union, think again. Our credit union has a community charter, which means anyone living or working in this community can join our credit union. 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.

You might already know that there are many benefits to being a credit union member--such as low fees and loan rates, excellent member service, and democratic control.

Community-chartered credit unions offer those benefits and more: greater membership diversity, a wider variety of services, and larger pools of qualified volunteers.

We also offer encouragement and education about saving, and help in making sound personal financial decisions and habits. As a member-owner you'll also have the opportunity for your opinion to be heard and to vote for the board that guides how your credit union should be managed.

 If you're interested in joining, stop in or call Cedar Falls Community Credit Union at (319) 266-7531 or fill out our Join Now form found at:  https://www.cfccu.org/join-now.


Copyright 2017 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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DEALER FINANCING GONE WILD…

josh latonya 1 webLaTonya Robertson has been a member of CFCCU for over 8 years. Several years ago, she purchased a vehicle at a dealership and was able to obtain a loan through the dealer. Recently, LaTonya decided to visit the credit union to discuss her finances. While speaking with loan officer, Josh Hurley, she realized that she has been significantly overpaying in interest charges on her loan.

Josh was able to refinance LaTonya’s vehicle loan with the credit union, dropping the interest rate by over 13% which impacted her payment dramatically! Not only was the credit union able to save her over $2,700 interest charges but her payment was reduced by $76.00 per month. Included in her reduced payment, LaTonya is able to protect her family from unexpected life events, as well as protecting her asset with GAP coverage.

In addition to her auto refinance, LaTonya took advantage of our credit card program where she can now transfer any high rate credit card debt to the low rate CFCCU MasterCard.

LaTonya’s story is exciting and we are excited to be a part of it! Stories like this are occurring daily at Cedar Falls Community Credit Union and we encourage you to stop in or call us to see how we can dramatically affect your life.

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Home Equity Loans: Low-Cost, Tax-Advantaged Credit

mortgage webIf credit card payments are eating up your disposable income each month, or if you need cash to remodel your kitchen--or to buy a new car--a home equity loan or home equity line of credit (HELOC) might be your best bet.

There's also a tax advantage. Unlike almost any other consumer loan type, the interest on a home equity loan or HELOC of $100,000 or less is likely to be tax-deductible ($50,000 if married filing separately).

Home equity loans and HELOCs are two distinct products. With a home equity loan, you borrow a lump sum of money repayable over a fixed term, usually 5 to 15 years, giving you the security of a locked-in rate and a consistent monthly payment.

People tend to use home equity loans for large, one-time expenses like a major home-improvement project. You also might use one to start a business, make a big-ticket purchase, or consolidate high-interest credit card debt. This type of loan makes sense if you don't foresee future borrowing needs.

On the other hand, a HELOC is much like a credit card or any other type of open-ended credit. You can borrow money as needed, up to the credit limit your lender assigns. A HELOC is usually a variable-rate loan, so your monthly payments will change based on your outstanding balance and fluctuations in the prime rate.

A line of credit offers flexibility and ready access to funds, making it ideal for unexpected expenses like large medical bills. A HELOC also can help finance a child's college education, especially for higher-income families who don't qualify for financial aid.

Since home equity loans and lines of credit use your home as collateral, if you don't make your payments, you could lose your home. But if you don't take on excessive debt and you do make timely payments, you can't beat the low interest rates and tax-deductible interest of a home equity loan or HELOC.

A Cedar Falls Community Credit Union loan officer can explain which type of home equity loan may work for you. Call 319-266-7531 for more details.

Copyright 2017 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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