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



December 2019

An Important Message From the Board President

The Board of Directors would like to take this opportunity to express their gratitude to the members of the IBEW Local 56 FCU for their loyalty and support of the Credit Union during the last economic downturn.

To show our appreciation, we are pleased to announce that the Credit Union will be paying an additional 0.10%APY on all active Regular, Vacation, Holiday, Investment, and Christmas Shares; on Share Drafts; on Traditional, Roth, and Beneficiary IRA Shares; and on Coverdell Education Savings Accounts that have had a minimum balance of $25.00 during the 4th Quarter 2019.  The 0.10%APY will be added to our current dividend rates for the quarter.

Once again, we would like to thank all of you and we hope that you will continue utilizing and supporting the IBEW Local 56 FCU in the coming year.


Christian Kossbiel, Board President

Check Out Our Rates On Home Equity and Vehicle Loans!

Home Equity Loans:  Rates as low as 2.99%APR*
Mini-Mortgage Loans:  Rates as low as 2.49% APR*

Click here for more information.

New Vehicles: rates as low as 2.15% APR*

Used Vehicles:  rates as low as 3.15% APR*

Click here for vehicle rates.

*APR = Annual Percentage Rate

Save For Retirement With An IRA

Saving for retirement is easy with a Credit Union IRA Share Account.  Tax time is the perfect time to make a contribution to a new or existing Traditional or Roth IRA.  Contributions can be made annually or periodically through direct deposit or payroll deduction, by mail, or in person.

Deposits for the 2019 tax year will be accepted until April 15, 2020.  The contribution limit for 2019 and 2020 is $6,000.00.  IRA owners over age 50 can make an additional "catch-Up" contribution of $1,000.00.

The IRS Scam Is Back!

The IRS warns consumers to watch out for IRS impersonation attacks, which are spreading malware across the U.S.  These spam emails masquerade as legitimate emails from the IRS.  They come from a spoofed IRS email address and the subject line may read "Automatic Income Tax Reminder" or "Electronic Tax Return Reminder".

Please note:

  • The IRS and other government institutions will never email you to ask you to submit personal information online.
  • If you receive one of these emails from the IRS, another government agency, or even your financial institution or other organizations you work with, it may well be a phishing scam.
  • Keep in mind that many spam emails look legitimate.  Having an irs.gov or other organizational email address does not guarantee that the email is real.  Hackers can break into official accounts to send their fraudulent messages.
  • In addition, emails that contain information about you, such as your name or address, are not legitimate for that reason.  Hackers often gather enough information about their victims to make their spam emails appear more authentic before asking for the remaining information they need to steal your identity.
  • Always assume that even legitimate looking email messages or messages from someone in your contacts could actually be cybercriminals trying to steal your information. Look closely for signs of spoofing, including misspellings, grammar mistakes, and the email address being slightly off.
  • Often, phishing emails threaten the user with harm in order to solicit a reaction.  For example, an email claiming to be from the IRS may say that you could be arrested for tax evasion if you do not reply in a timely manner.
  • On the other hand, cybercriminals may try to get you to repond by promising you money if you do.  Therefore, IRS scam emails could say that you are entitled to a tax refund if you provide certain information.
  • You can reduce your risk of receiving spam emails by enabling your email spam filter.  However, do not make the mistake of assuming that an email is safe just because you have a spam filter.  Some sophisticated spam messages can get past even the best filters. 
  • If you get an email claiming to be from an organization or government agency, do not call the number on the email.  Instead, independently look up the number to call and use it instead. 

Visa Purchase Alerts

We highly recommend that our Debit Cardholders sign up to receive email alerts when they use their Visa Debit Card* for purchases.  These alerts help provide security by allowing members to identify potentially fraudulent activity and they provide a means for members to track spending.

Sign up by logging into:

Follow these steps to enroll:

  • Check eligibility by entering the first nine digits of your debit card.
  • Creat an account.
  • Register your email address.  A verification email with a code will be sent to your email address.  Enter that code to confirm your email address.
  • Choose which of the following three alerts you would like to enroll in:
  1. purchases reaching a certain dollar amount
  2. international purchases
  3. purchases made on the internet

*A qualified transaction is any transaction routed through Visa.

Banking at Your Leisure

Do you want the opportunity to look up account balances and account activity, transfer funds between your Credit Union Accounts, and look up copies of paid checks at your convenience?  If so, then Home Banking is for you!  Contact the Credit Union office for the required form to sign up for this convenient service.

You can receive your monthly and quarterly statements online.  When you log into your home banking account, click on the "Statements" tab to sign up for E-Statements.

Family Membership

Did you know that your family members and members of your household (persons living under your roof) are eligible to join your Credit Union?  To join, they need a current photo ID (unless they're a child), social security number, a $25 share deposit, and a .25¢ membership fee.

Family Members include your:

Spouse          Children          Stepchildren          Grandchildren

Parents          Stepparents    Grandparents          Brothers & Sisters


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