Heritage Community CU Launches Business Services
SACRAMENTO, Calif.-Heritage Community CU has launched a new suite of business services, including business checking accounts, credit and debit accounts, merchant services, business tax payments and Money Market accounts for businesses.
The introduction of the services follows a "We Mean Business" promotion run by Heritage Community CU during 2011 to encourage businesses to bring their accounts to HCCU, including a bonus $100 to a new business checking-account holder who applied for the CU's Visa Business Credit Card.
Part of Heritage Community's strategy for launching its new business services was to capture local business accounts and deepen the CU's footprint in the community, as well as capitalize on the large number of entrepreneurs who have gone into business for themselves as a result of a poor economy.
CUMONEY Family Card Introduced In Illinois
NAPERVILLE, Ill.-The Illinois CU League Service Corp. has introduced its CUMONEY Family Card, a prepaid debit card and financial-education tool for teens.
The VISA-branded card carries the teen's name but is funded and overseen by parents. Funds are loaded from a parent or guardian's account, but the cards are not directly linked to those accounts. The CUMONEY card works wherever Visa is accepted, as well as at ATMs. Balances and transaction histories are also available online at www.cumoney.com.
MAFCU Offers Investment Services
BROOKLINE, Mass.-Matthew Morrow, a partner and financial advisor with Munro Morrow Wealth Management, took time to work one-on-one with members at Medical Area FCU (MAFCU) here.
Morrow spent several hours providing free investment services consultations to MAFCU members and helped with financial and investment planning.
The credit union has also launched a new "Everyday Specials" initiative, highlighting discounts that consumers can receive just by being a member.
Members receive savings on items that include auto insurance, cable TV, and more, from companies such as Sprint, the Apple Store, Six Flags and Best Buy. Members also automatically receive 10% off of Dell-branded electronics and accessories.
Pen Air FCU Expands Free Checking Product
PENSACOLA, Fla.-Pen Air FCU has expanded its free checking product with a "Your Choose It" package, allowing members to select up to five different bundles for their checking account.
Pen Air's travel package includes travel cash rewards, a subscription to Sojourns member magazine, companion airfare, destination savings and more. The shopping package includes coupons and discounts on gift cards, online shopping, entertainment and more. The credit package includes a Triple Bureau Credit Alert and payment card protection.
Pen Air's fraud protection package offers identity theft insurance, ID network and safety service and access to the MY ID Matters website. The Peace of Mnd package offers accidental death insurance, payment card protection, purchase protection, extended warranty, and prescription drug and vision plans.
Each package is $2 for Premier members at the Pen-Air and $3 for those who are not Premier members. Premier membership is free and requires members to have checking and savings accounts with the CU, e-statements and a debit card. Premier members also receive Premier Checking Rewards, which accumulate points through services and purchase through the CU Rewards Mall, redeemable for travel, merchandise and more.
San Diego Metro Unveils Energy Upgrade Program
SAN DIEGO-San Diego Metropolitan CU has partnered with the City of San Diego to offer the San Diego Home Energy Upgrade Program. SDMCU and the city will offer low-cost, affordable financing to allow San Diego residents to make energy upgrades to their homes.
The lending initiative is partly the result of the recent Energy Upgrade California Program, which identified limited availability and high cost of funds as major barriers to commercial and residential energy upgrades. SDMCU is one of just a few lenders in California to offer low-cost energy-efficiency loans. Loans are available up to $25,000 for terms ranging from five to 15 years, with rates starting at 4.99%.
More info: www.sdmcu.org/SDHomeEnergyUpgrade
Deposit ATMs Installed
AUBURN HILLS, Mich.-Genisys CU has installed 11 new Diebold Deposit Automation ATMs, allowing members to deposit checks and cash without an envelope. The machines, can accept up to 30 different dollar bills of various denominations, and have user-friendly instructions, graphics and touch screens. Voice guidance is also available via a headset for users who need it.
Elevations Tapped For EnergySmart Loan
BOULDER, Colo.-Elevations CU here has been selected to enter into a joint agreement to administer the new EnergySmart loan program to make energy-efficiency upgrade loans available to residents, businesses and commercial property owners in Boulder County and Denver. The program is a partnership between Elevations, EnergySmart and the Denver Energy Challenge.
More info: www.energysmartyes.com/loan
Spartan Debit Card Debuts
EAST LANSING, Mich.-Michigan State University FCU has released its new Spartan Debit Card, emblazoned with the school's mascot, Sparty. The CU celebrated the card's debut by selecting one member at each of its branches to win a Sparty Gift Pack, including an MSU backpack, Spartan winter hat and Sparty memorabilia, which includes a mug, stuffed doll, window decal and more. The gift packs were valued at $200.
WALL, N.J.-First Financial FCU here increased its month-over-month checking penetration by 50% by running a promotion offering consumers the chance to win a new iPad 2.
As a way to celebrate its 75th anniversary, First Financial ran a two-month promotion in to entice members and non-members to sign up for free checking for the chance to win the prize. First Financial FCU said it opened 156 new checking accounts in two months as a result, an increase over the average of 100-115 during a typical three month period.
LOUISVILLE, Kent.-Park Community FCU has partnered with Kosair Charities and the Kentucky Humane Society to help benefit the two charities. For $5, PCFCU members can request a new debit card associated with the Park Community checking account and the funds will be donated to Kosair Charities or the Kentucky Humane Society.
Park Community FCU held a kick-off celebration to launch the new project, which included information about all three organizations, snacks, entertainment and the chance for members and non-members to play with puppies and kittens from the Humane Society.
Menu 3-30
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Art: See Coindexter.pdf in Menu 3-30 Art folder in Aaron Art ATLANTA-Georgia's Own CU here has launched Coindexter (Coindexter.com), a program from Applause Learning that works to teach financial literacy to children ages 12 and younger. Coindexter immerses children in a virtual world ("Econopolis") where they earn, save, spend, and manage and invest money.
Coindexter places the sponsoring CU's building on the site with its name above the front entrance, and children's avatars can "virtually" enter the building to do their virtual banking. Participants even utilize deposit and withdrawal slips, checks and more.
More info: www.coindexter.com.
SAN JOSE, Calif.-San Jose CU here has partnered with CU Financial Partners LLC to provide financial and investment planning services to members. CU Financial Partners offers a services such as retirement planning, insurance, investments and member education, and initial consultations are free for members. CUFP representatives will meet with members at branch offices or at the member's home. Monthly member seminars are also sponsored.
CU Financial Partners, LLC is a branch of Foothill Securities, Inc. San Jose CU serves more than 12,000 members with more than $130 million in assets.
GROTON, Conn.-Members at Charter Oak FCU here can now apply for FHA mortgages up to 96.5% of the home's value on purchases and 97.75% LTV for refis with 15- to 30-year terms. COFCU touts itself as "Eastern Connecticut's #1 Mortgage Lender," and its fixed-rate loans are available for owner-occupied, 1-4 family homes in New London or Windham Counties.
CEO Brian Orenstein said Charter Oak added FHA loans in order to make home-ownership more accessible to a greater percentage of its overall membership. The credit union is also now an approved SBA lender, offering SBA 7a, 504 and Express loans to business owners in New London and Windham Counties.
Charter Oak serves more than 66,000 members with $702 million in assets. As of its December 2011 Call Report, the CU had approximately 4,400 mortgages and real estate loans on its books, totaling about $400 million.
LINTHICUM, Md.-To spur home sales and assist borrowers with down payments and closing costs, SECU here is offering up to $7,500 in matching funds to first-time homebuyers. The offer is part of two programs the CU is offering in partnership with the Federal Home Loan Bank for purchases or renovations on existing homes.
Borrowers must come up with a minimum of $1,000, and the FHLB will match that amount up to four times, for a maximum grant of $7,500. The program is available to any SECU member in Maryland, Washington D.C. or Virginia with income of less than 80% of the HUD Median Income, adjusted for family size.
SECU members do not have to repay the matching funds as long as they stay in the home for at least five years.
ALEXANDRIA, Va.-Pentagon FCU has introduced its PenFed Platinum Rewards Visa card. Cardholders can earn as much as five points per dollar spent on gasoline purchases, three points per dollar spent on groceries and one point per dollar on all other purchases. Those points can be redeemed for travel, gift cards, merchandise or Visa prepaid cards.
The card has a variable 9.99% APR capped on all new purchases through the end of June 2014, along with no annual or foreign transaction fees. New cardholders can earn 25,000 points in the first three months: users receive 5,000 points for their first purchase, and 20,000 additional points if they spend $1,000 during the first three months.
WEST LAFAYETTE, Ind.-Purdue FCU here is offering $avers and $ense Club accounts as a way to teach children to save. For each deposit of $5 or more through April 30, accountholders receive one entry into a drawing for a $100 back-to-school shopping spree (limit one entry per day). Eight winners will be selected to go shopping with Purdue Federal's CEO Bob Falk with a $100 Visa gift card to purchase school supplies.
