IBEW Local 56 Federal Credit Union was chartered in 1961 - Once A Member ... Always A Member

Newsletter

 

December 2020

We Want Your Vehicle Loan!

When you're ready to purchase your next vehicle, check out our financing first.  With new vehicle rates starting at 1.95%APR* and used vehicle rates starting at 2.85%APR*, you can't go wrong!

Your Credit Union doesn't pick out your vehicle so don't let your salesman choose your lender.  See us first for a pre-approval and shop with ease.

Already financed at the dealer?  Give us a call and see if we can beat their rate.  Why pay more for your vehicle than you have to?

Your Credit Union should be the first step in your vehicle buying process!  Same day pre-approvals and approvals to qualifying applicants.

* APR=Annual Percentage Rate.   Click here for vehicle rates.

We Can Help With your Financial New Year's Resolutions!

If your resolution is to:

  • Save Money:  Use Direct Deposit or Payroll Deduction to start saving for unexpected expenses, a big purchase, or for a Christmas Club.
  • Plan For Retirement:  Open or make a contribution to a Traditional or Roth IRA.
  • Plan For College Expenses:  Open a Coverdell Education Savings Acccount for your children or grandchildren.
  • Simplify Your Finances:  Begin using some or all of these convenient services: Home Banking, E-Statements, Debit Cards, Online Bill Pay, Travel Cards, and Money Orders.
  • Get Out From Under Credit Card Debt:  We may be able to consolidate your credit cards into one easy to manage payment.
  • To Remodel Your Kitchen, Bathroom, or Make Other Home Improvements:  Apply for a Mini-Mortgage or Home Equity Loan and make your house your dream home.

Your Credit Union is here to help with all of your financial needs.

Freezing Your Credit Report

Having your private information or identity stolen is no picnic.  It takes quite a long time to make it right, so one of the best ways to help ensure that neither happens in the first place is to protect it as much as you can.  You may want to consider putting a freeze on your credit report, but be sure to understand what that means before taking that action.

Why Freeze Your Credit?  Credit reports contain information about you and your credit and payment history and patterns.  If it's stolen, it could be used for credit fraud, income tax fraud, or health care fraud.  Someone could potentially "become" you.

What Does Freezing Your Credit Mean?  When you freeze your credit information, no one can pull that information from the credit bureaus; including you.  If you need to make it available for some reason, you can unfreeze it forever or for a temporary period of time; even for just a day.  You just need to plan ahead.  If you want to apply for credit, you will not be able to unless you unfreeze it.  This also applies to requesting your credit score or applying for a home to rent.

When Is It Good To Freeze Credit?  You may want to consider freezing your credit if:

  • You've been a victim of identity theft
  • Your social security number has been accessed without your authorization
  • You've been a victim of healthcare related fraud
  • Your credit/debit card number(s) have been stolen
  • Your mail has been stolen
  • You've been a victim of income tax fraud
  • Your online accounts have been breached
  • You just want to protect yourself from becoming a fraud or identity theft victim
  • You don't need and no one else needs immediate access to you credit reports

Does It Cost Anything?  No it doesn't. All states are required by law to make it free to freeze and unfreeze your credit.

Should I Freeze My Child's Credit Report?  Yes.  Children are the victims of identity theft as well.  Thieves can buy a child's social security number on the dark web to commit fraud that will go undetected for years.  It's a good idea to freeze a child's report until they are of age to use their credit.

How Can I Freeze My Credit Report?  Each of the three major credit bureaus have links on their websites to put a freeze on a credit report.  You must do this for each bureau.

Home Banking & Bill Pay

During this time of social distancing, we encourage our members to sign up for Home Banking (click the box on our home page).  It's an easy way to keep an eye on direct deposits and automatic payments, to transfer funds from one sub-account to another, to look up copies of paid checks, and to transfer credit union loan payments.  Sign up for E-Statements and view your statement online the beginning of the month or quarter.

If you have a share draft (checking) account, you can sign up for our Bill Pay service.  Schedule your payments from the credit union's website and eliminate the need for checks, stamps, and trips to the post office.  We have two Bill Pay options to choose from to fit your needs.  Click here to see the options.

Contact the credit union office at 814-455-2270 if you have questions regarding these or any other services.

 

 

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