Playing With Money Encouraged
BROCKTON, Mass.-HarborOne U here has launched a new series for children age four and older to teach the concept of money through play. In the "Piggy Bankers" program, teams of parents/kids attend three sessions to learn all about money.
The program is a collaboration between Self Help/Community Partnership and HarborOne U.
Design-Your-Own-Card Program
EL SEGUNDO, Calif.-Xceed Financial CU now offers a design-your-own-card program, and members can change the image on their credit or debit cards as frequently as every 60 days. Each card costs $10 to be processed, and members can upload a personal photo from their home computer or select one of XFCU's designs. Primary and secondary cardholders on an individual account can both create their own personalized designs.
Sweepstakes Pushes E-Statements
WARMINSTER, Penn.-Freedom CU here staged a "Paperless Statement Sweepstakes," ultimately awarding $50 gas cards to 50 different members. All members that signed up for paperless statements were automatically entered to win, and winners were randomly chosen.
As a result of the push to go paperless, more than 1,000 Freedom members switched to paperless statements, bringing the CU's paperless-statement member-count to nearly 11,000.
TEFCU Lights A FUSE
WASHINGTON-TEFCU here has launched the FUSE ("Funding Ur Student's Education") CD, a project that will ultimately award scholarships to students whose parents open a CD with the credit union. Parents can contribute to the CD on a monthly, bi-weekly or weekly basis as a way to eliminate the sometimes heavy requirement of fully funding a CD.
By the end of August, TEFCU members had committed $365,000 toward their children's college funds. TEFCU will award $36,500 in scholarships to students at the CD's maturity. Students can have multiple FUSE CDs, or-up maturity-the CDs can be renewed for additional five-year terms to maximize the amount that can be saved.
In other news, TEFCU continues to operate its student-run branch at Crossland High School, which recently celebrated its third-year anniversary.
Balance Transfer Rate Offered
NORTH CANTON, Ohio-First Ohio Community FCU here is offering a 3.99% balance transfer rate through Feb. 3 on any balance transfers or cash advances made with the CU's First Ohio Platinum Visa card. The 3.99% promotional rate lasts until Aug. 3, 2012, after which it reverts to the card's regular rate.
myVault Helps Manage Money
ROME, N.Y.-AmeriCU Credit Union has launched myVault, a personal financial-management tool available to members to help create a budget, spending targets and find ways to save money. Users can also track bills, cash flow and personal finance goals. Members can access the service through AmeriCU's online banking portal.
OMNI Offers 'Concierge Banking'
BATTLE CREEK, Mich.-OMNI Community CU here is offering free "concierge banking" to new members as part of its switch service. Rather than the new member having to close old accounts, switch direct deposit, ACH payments and more, OMNI's concierge service does the work for the member.
Valley Intro's 'Everday Checking'
SALEM, Ore.-Valley CU has introduced "Everyday Checking," as well as made enhancements to its "Elite Checking" product. Everyday Checking requires no minimum balance, no monthly fees, offers free online banking, free debit card, free e-statements and access to 28,000 CO-OP ATMs.
Elite Checking still offers free debit cards, free online banking and more, but Valley Credit Union noted it also pays dividends on deposits and accountholders receive preferential rates on CDs, free money orders and one free box of checks per calendar year.
GUCU Offers 5/1 ARM
DULUTH, Ga.-Georgia United CU now offers a new 5/1 ARM as a first mortgage product with a 2.95% rate fixed for the first five years. After five years the rate may be adjusted with a life-of-loan cap of 5%. Each year after the first five years the rate can change by 2% up or down, but the rate never exceeds 5% more than the initial rate.
FCFCU HSA Gets Top Billing
INDIANAPOLIS-Finance Center FCU here has been ranked among the top CUs nationwide for Health Savings Account holders, according to the Devenir Research Group, which provides investment options for HSAs. Finance Center ranked at #16 in total HSA assets for CUs.
Approximately 4,400 FCFCU members have an HSA, totaling more than $4.4 million in deposits. In addition to a basic HSA account, the credit union also offers Money Market and Share Certificates to members who do not need immediate access to their entire HSA balance. Those accounts receive a higher interest rate payout.
CU Teams Up With FamilyMint
MIDLAND, Mich.-Dow Chemical Employees' CU has partnered with FamilyMint to offer a hands-on budgeting and financial-education program for youngsters between the ages of six and 16. Children can use the program to allocate savings, set goals or make transactions, while parents can set allowances, institute interest rates to promote savings and reward deposits.
