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EECU Touts Interest-Free HELOC

FORT WORTH, Texas-Members at EECU here have the chance to win an interest-free HELOC, or a cash prize of $3,500, if they answer how they would use their homes' equity.

The credit union launched the campaign on its blog and invited all members to provide simple, short answers. Commenters are entered into a drawing that will take place after the campaign ends on July 31.

"We thought this promotion would capture attention and draw interest to the fact that you can use your home's equity in a variety of ways," said chief retail officer Connie Talmadge, "The blog is a fun way to provide that information and share ideas-we have had tremendous response."

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GFA Opens Insurance Agency

GARDNER, Mass.-GFA FCU here recently opened a full service insurance agency, GFA Insurance Services. Consumers will be able to buy coverage for all of their insurance needs from a number of regional and national carriers through the new agency. The credit union already offered insurance products to members for the last 14 years, but President/CEO Tina Sbrega said the new affiliate will "enable us to provide expanded insurance options to members and member businesses throughout our service area."


Savings Account Thrives

HANSCOM AFB, Mass.-Members have opened more than 1,600 CU Thrive savings accounts since Hanscom FCU introduced the product in Jan. 2009.

CU Thrive allows members build savings through automatic transfers from their checking accounts.

The $784-million institution said the product has helped members become better fiscally educated and challenged them to work towards financial goals.

"I like the CU Thrive account because it's forced me to save," said Hanscom FCU member, Bill Burpeau. "I don't even have to think about it because the money is automatically transferred from my checking account. It's easy."


Elevations Creates Foundation

BOULDER, Colo.-Elevations CU is taking charitable giving to another level, as it has founded the Elevations Foundation.

The new official charity of the $930-million credit union takes over for the Community Relations Committee, which has already dispensed $1 million in scholarships, grants, volunteer time and donations in Boulder and Broomfield counties.

"This is an important step in Elevations' continued ability to contribute to the needs of the communities we serve," said President/CEO Gerry Agnes. "The Foundation's structure allows us to sustain our charitable efforts for years to come."

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