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CFCCU Blog

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?'

Continue reading
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666 Hits

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
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610 Hits

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?'  

Continue reading
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648 Hits

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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