Yolo ATMs Now Envelope-Free
WOODLAND, Calif.-Yolo FCU awarded all of its ATMs to envelope-free deposit-taking capabilities.
The CU is touting the use of the image-capture technology being more environmentally friendly-with the "potential to save 1,000 trees per year" - as well as improving member convenience.
Young Adult Freedom Club Launched
LOS ANGELES-Los Angeles FCU (LAFCU) introduced its new "Young Adult Freedom Club," a package of financial products designed for young adults. The club offers a $15,000 no-money-down low-rate vehicle loan, a guaranteed $500 credit line Visa® Classic credit card or Personal Loan, a $100 Share Certificate with terms up to 60 months, and other benefits. Club members must be 18 to 25, have verifiable income, and have little or no credit history.
Boulder Valley Offers FHA Loans
BOULDER, Colo.-Boulder Valley CU received HUD approval to offer FHA mortgage loans, making it the first CU in northern Colorado to offer FHA mortgages.
The CU is promoting the FHA program as one of the ways it is tryiing to help members in the wake of the credit crisis, noting that FHA mortgages have fewer credit restrictions, require less of a down payment, have lower monthly mortgage insurance premiums, do not have prepayment penalties and do not penalize borrowers with lower credit scores.
NARFE Premier Offers BALANCE
ALEXANDRIA, VA-NARFE Premier FCU is offering free budget and debt counseling through BALANCE™ Financial Fitness, a financial education and counseling service.
The CU has also created the Balance Loan, an alternative to predatory payday lending, with simple repayment terms of 6 months or 180 days at a fixed rate of 18%-eliminating the member's need to hand over their paycheck and pay upwards to 1,000% interest.
For info: NARFEpremierFCU.org.
Online Member Program Wins Award
SAN JOSE, Calif.-Meriwest CU won an award from the Alliance of Credit Unions for the recent introduction and marketing launch of its New Member Acquisition and Online Funding Program.
The program now allows new members to join the CU, open products and fund the new account from another financial institution, all online. Meriwest said plans are already in the works to launch a "more robust product selection and funding engine" for existing members, as well.
The CU is touting the program as helping the environment as well as adding convenience by eliminating paperwork.
For info: www.meriwest.com.(c) 2008 Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/
