Sprint Discounts for DN Community Federal Credit Union Members
Get a $100 Cash Reward for Every New Line
This new exclusive cash rewards offer is our best one EVER! Now, as a credit union member, you can earn $100 for every line when you switch to Sprint®.
Here’s how it works:
- Members get a $100 cash reward for every new line when you switch to Sprint®.
- Current Sprint customers will receive a $50 cash reward for every line transferred into Sprint Credit Union Member Cash Rewards.
- Plus, get a $50 loyalty cash reward every year for every line
Here’s how to sign up for Sprint cash rewards:
- Become a Sprint customer
- Register at LoveMyCreditUnion.org/SprintRewards or in the Love My Credit Union Rewards® app
- Allow up to six to eight weeks to see cash rewards directly deposited into your credit union account!
Make the switch today and save with the Sprint Credit Union Member Cash Rewards!
Auto & Homeowners Insurance Program
You trust Diebold FCU to provide you and your family with quality products and services to meet your financial needs. With discounts for credit union membership, the TruStage Auto & Home Insurance Program could save you money. Working with big-name companies we've carefully selected, you can expect top-notch service and solid value. It's easy to get a quote and make the switch—even if you're already covered with another company, you won't lose a penny. Isn't it time for car insurance the credit union way?
Stay up-to-date with the latest financial news, make sound financial decisions, and protect yourself by being informed. Just click on a link below to view or print an article.
+ Is Zero Percent Auto Financing The Best Option For You?
You hear the ads everyday zero percent financing. Consumers are offered deals they simply cannot refuse. Should you take the 0% dealer financing? Is it really the best financing option?
A zero percent financing deal may not always be in your best interest.
Consider these facts:
- Statistics reveal that only one-third of buyers who apply for zero percent financing actually qualify.
- Only ten-percent of qualified buyers accept the deal.
- There are very strict terms to qualify for zero percent financing.
- Most often, a sizeable down payment is required.
- Loans are offered only on a short-term basis, typically 12-24 months.
- In many cases, zero percent financing only applies to dealer stock vehicles. These vehicles may have a lower resale value.
- Significant monthly payments are required due to the short-term loan requirements.
- Many zero percent qualifiers overpay for their car since they assume they are getting the best deal available and fail to negotiate price.
By taking the rebate many dealers offer, instead of the zero percent lending option, you can lower the principal amount of your loan and pay less interest during the loan term.
One of the best ways to secure a good deal is to visit the credit union before you go to shop for your new vehicle. Members can apply for a pre-approved auto loan. You can be pre-approved according to your individual credit limit. Then with financing in place, you are in the best position to negotiate the best deal for you.
Don't be fooled by the auto dealer's low-rate advertising. Know the facts about special rebates and financing options. In spite of the tempting offer, zero percent financing promotions are not always the best route for car buyers to take.
Before you are ready to purchase your next vehicle, contact a Member Service Representative at the credit union. We will be able to find the right loan term for you and help you to negotiate the best deal. The application process is easy and approval is quick. You can apply in person, or click here to apply online. Just return the completed application along with the $25 application fee to the credit union for processing.
+ How Identity Theft Occurs
You may take precautions to protect your personal information. Despite your efforts, skilled identity thieves may use a variety of methods to gain access to your information.
How Your Personal Information Is Obtained
The following is a list of ways imposters can get your personal information:
- Theft of a wallet or purse that contains your identification and financial information. (Credit cards, debit cards, etc.)
- Theft of incoming mail: bank statements, credit card statements, pre-approved credit card offers, telephone calling card offers, and tax information.
- A "Change of Address" form that is filed by an imposter with the post office to deliver your mail to another location.
- "Dumpster diving." Identity thieves will go through your personal and business trash looking for personal information.
- They fraudulently obtain your credit report. They may impersonate a landlord, or an employer, or someone who legitimately and legally needs the information.
- They get your business or personnel work records.
- They find personal information in your home.
- They use personal information you have shared over the Internet or in e-mails.
- They can buy your personal information from a dishonest "inside" source. They may pay a store employee for information about you on an application for credit or in the store computer files.
How Your Personal Information Is Used
Stolen Credit Card Information: They pretend to be you and call the credit card company. They ask to change the mailing address on your account. Then the imposter runs up your account. You are no longer receiving your bill so you may not realize the fraudulent charges for some time.
Stolen Personal Information: They know your date-of-birth, and social security number. They also have your banking information.
- They open a new credit card account in your name and don't pay any of the bills. The delinquent account is reported on your credit history.
- They purchase a new car by applying for a loan in your name. The loan is reported on your credit history. They make no payments on the loan.
- They establish phone or wireless service in your name.
- They file bankruptcy under your name to avoid debts or eviction. The bankruptcy is recorded on your credit history.
- They open a bank account in your name and write bad checks on the account. The bank contacts you for payment.
- They counterfeit checks or debit card transactions and drain your bank account. The bank contacts you regarding NSF charges.
How To Reduce Your Risk
While you cannot totally eliminate the possibility of identity theft, you can greatly reduce your risk by managing your personal information wisely and cautiously.
Here are some things to keep in mind:
- Before you share any personal information, find out how it is being used and why it is needed.
- Pay attention to your credit card billing cycles. If you don't receive your bill follow up with your company and verify the charges on your statement. Some credit card companies offer online bill delivery. It eliminates sending statements by mail. Ask your credit card company for security details.
- Guard your mail. Deposit outgoing mail at the post office and promptly remove mail from your mailbox. If your mailbox is a distance from your house, consider a post office box to protect yourself.
- Put passwords on your credit cards, bank cards, phone cards, etc. Don't use birthdays, or any personal information as passwords.
- Minimize the number of cards and identification you carry with you.
- Do not give out your personal information over the phone or the Internet unless you initiated the contact and you know the purpose and use of the information.
- Keep personal information in a safe place.
- Tear or shred charge receipts, copies of credit applications, insurance forms, bank checks, statements, expired charge cards, and credit card offers you get in the mail.
- Find out who has access to personal information at work and verify that it is kept in a secure location.
- Only give out your social security number when absolutely necessary. With your name and social security number the Identity Thief can start getting loans in your name!
- Never carry your social security card.
- Order a copy of your credit report annually and make sure it is accurate.
How To Order Your Credit Report
Under federal law, you have the right to obtain a free copy of your credit report from each of the nationwide consumer reporting agencies once a year.
To order your free annual credit report-
+ Lease vs. Loan | Which Is The Best Option?
With sticker prices of vehicles ever increasing, dealers and manufacturers are pushing leases in order to reduce down payments and monthly payments. DN Community Federal Credit Union urges you to carefully consider the pros and cons before signing for a lease.
We maintain that in most every instance, an outright purchase of a vehicle using a credit union loan is your best bet.
- In most instances, leases end up costing you more.
- At the end of the lease, you typically must give the car back, and walk away with nothing.
- You are now stuck with locating another vehicle.
- Mileage limitations on leases have become unrealistically low. If you exceed allotted miles, you will be assessed additional charges for the extra miles.
If you are a homeowner and have equity in your home, we may be able to arrange monthly payments that compare very favorably with lease payments. With a traditional vehicle loan, your monthly payments may be a little higher than with a lease. In either case, the vehicle is yours to keep when the loan is paid off.
Contact a Loan Officer at the credit union today, and discuss your vehicle needs. Our low-rate financing options, give us the ability to find a lending solution that fits your car buying needs. Our loans are simple interest loans, so if you pay off your loan early, or make additional payments you reduce the amount of interest owed. You also save with our great low Annual Percentage Rates (APR). Take a look at our reduced rates.
A great way to make your next car buying experience more enjoyable, is to get pre-approved financing from the credit union. You will have your financing in hand, and it gives you more bargaining power when you head to the dealership.
Financing with DN Community Federal Credit Union will save you over $200 in application fees! Some dealer finance managers charge: banking loan fees, application fees, etc. Ask them to show you a disclosure statement. DN Community Federal Credit Union's Loan Application Fee is just: $25. Clearly, we are here to help you!
Apply For A Loan Online:
Simply click here for our secure online loan application.
Apply from Home:
Just download the appropriate loan application. Please return the completed application, along with the $25 loan fee, and recent pay stubs for all applicants to the credit union for processing.
+ Is It Time To Refinance Your Home Mortgage?
Low interest rates increased the refinance market, and it's still going strong! When interest rates drop, homeowners wonder if they should refinance.
When considering whether or not you should refinance your home, you need to make sure that your SAVINGS from the reduced mortgage payments will be GREATER than the CLOSING COSTS of the loan.
Other factors are also important for you to consider before you decide if refinancing is the right move for you. Such as:
Reduce The Term Of Your Loan -If you switch from a 30-year to a 15-year term loan, your monthly payment may increase, but you will save THOUSANDS OF DOLLARS in total interest payments over the life of the loan because you will pay the principal off sooner
Avoid Paying Private Mortgage Insurance (PMI) -If you have 20% equity in your home, you can refinance your mortgage and eliminate paying private mortgage insurance. This also will reduce your monthly payments.
Consolidate High-Rate Debt -Refinancing can be an excellent way to consolidate high-rate debt. When you combine higher interest debt with a new low-rate mortgage loan, you will benefit from lower interest rates, possible tax-deductible interest payments, and eliminating unsecured debt improves your credit rating.
Home Improvements -If you have a project in mind for your home and you have available equity, use the money you receive to finance your home improvements or remodeling projects. This is an added value since improvements add value to your home.
With rates as low as they are, it is an excellent time to refinance. If you need help deciding whether or not it is the right decision for you, call or visit one of our loan officers. We will be glad to answer any questions you have and to help you find the right loan option for you.
+ General Facts About Home Equity Loans
A Home Equity Loan can be an attractive borrowing option. Here is some information to help you decide if it would be right for you.
Get The Details First:
The popularity of Home Equity Loans has skyrocketed since the Tax Reform Act of 1986 took away the tax deductions for other types of consumer loan interest. All the publicity about Home Equity Loans in newspapers, magazines, and newscasts can be a little overwhelming, and it's important to get some of the basic facts established before you plunge into any Home Equity Loan Program.
Your Home Secures The Loan:
The generic term "Home Equity Loan" comes from the fact that the equity you have in your home is used to determine the maximum loan amount, and even more importantly, from the fact that your home is used to secure the loan.
This is different than the more traditional types of consumer loans. In the past, for example, when you took out a loan to buy a car, the car secured the loan. If you use a Home Equity Loan to buy a car, however, it is your home that secures the loan. Nobody likes to think about the problems than can lead to non-payment of a loan, but prudent borrowers will give serious consideration to the potential loss of their home in a Home Equity Loan default situation.
We are not trying to scare you away from Home Equity Loans – just give you the information you need to borrow responsibly.
The Home Equity Loan can be very helpful if properly used. We encourage you to come in and talk to us about your specific needs.
How Much Do You Qualify For?
Generally speaking, you can qualify for a maximum loan amount between 70 and 90 percent of the equity you have in your home. Here is how you can calculate your available equity:
Market Value (Appraisal Value) of your home minus
Amount due on your current first mortgage =
Your total debt-to-income ratio is also calculated when determining the amount of your loan. Most lenders require a debt-to-income ratio of 40 percent or less for the best loan rates.
A Home Equity Loan is a Line of Credit
This may be a new lending concept for many individuals. Once your credit line has been established, you draw on it, as you need it; you don't get the line amount as a lump sum. You can draw on your Home Equity Line at the Credit Union, or by using special checks that advance your credit line. There are usually minimum draw amounts ($100, $300, or more) and the rate of interest is usually tied to an index (a published Prime Rate for example) and floats from one period to another. In other words, a Home Equity Loan is not a fixed interest rate loan but a variable rate loan that is tied to an index. In today's market with overall loan rates low, this creates Home Equity Loan interest rates that are very favorable compared to the levels of a few years ago.
This type of loan may meet all your lending needs. It saves you from applying for additional loans since you can use your line to make any purchase you desire. Also, as you pay back your credit balance on the Home Equity Loan, these funds then become available for you to borrow again.
Repayment is figured on the amount outstanding, including interest, but actual payment plans vary. Some call for interest only payments for some defined length of time with a balloon (one large payment that pays off the loan balance) principal payment at the end. Others call for a fixed percentage of the outstanding amount on a designated periodic basis.
An important point to remember is that if, for example, you establish $20,000 as your Home Equity credit line, that full amount shows on your loan portfolio – even if you have actually borrowed only some portion of the $20,000. This could limit your ability to take advantage of other loan offerings you may otherwise have qualified for.
Know the Cost of Your Loan
Interest is not the only expense in Home Equity Loans. Actual charges vary between financial institutions, but can include some of all of the following:
- Application Fee
- Annual Fee
- Participation Fee
- Transaction Fees
- Closing costs (title examination, appraisal, points or origination fee)
Diebold Federal Credit Union does not charge an annual fee, a transaction, or participation fee for our Home Equity Line of Credit Loan.
Interest rates, as we discussed previously, will vary over the term of the loan and will also vary between financial institutions. Some will offer promotional rates tiered with the loan amounts. There are also considerations such as interest rate ceilings, and minimum balance requirements. The financial market will be very competitive at times. Make sure you know which (if any) fees are being waived at the beginning that might be applied later.
Tax Deductions Are Not Guaranteed:
Many people are under the impression that all interest paid on Home Equity Loans is tax deductible. This is not necessarily true.
We encourage you to consult with your personal tax advisor to determine the amount of Home Equity Loan interest that is deductible for you. Keep in mind that tax laws are always subject to change and what might be true one year could very well be different the next. Make sure you have the current information.
Flexible, Accessible, Competitive:
Home Equity Loans have many benefits, and should be considered when you are in the market to borrow money.
We hope this information has helped answer your questions. We invite you to come in and talk to any of our Loan Officers for additional information on Home Equity Loans or any other loan options that are available to you.
Possible Home Equity Loan Uses
- Education or Tuition
- Medical Emergencies
- Home Improvements
- Investment Opportunities
- Swimming Pool
- Recreational Vehicle
- Debt Consolidation
- Major Repairs
- Any Major Purchase
+ Making Credit Cards A Smart Part Of Your Portfolio
Credit cards offer a wide assortment of advantages and conveniences. They eliminate the need to carry lots of cash or even a checkbook. They are widely accepted for payment of all kinds of goods and services. They often provide additional benefits, including purchase insurance, and can even be tied to programs for purchase discounts, frequent flier miles, rental car insurance, travel discounts and more.
They are your key to Internet, catalog and telephone shopping. They can give you a cash advance when you are running short, not matter where you are. They can be your access cards to ATMs all over the world. They even provide a means of disputing charges from merchants that you believe to be incorrect. Credit cards have become an essential component in the commerce of our society, and we're proud to offer them as part of our financial service portfolio.
Like almost everything in life, the benefits of credit cards can be wiped out by misusing them. We've all heard stories of people who use their credit cards inappropriately, by charging excessively, and accumulating more debt than they can handle. It seems to be especially easy for young people just starting out to use credit cards as an easy way to live beyond their means, although there are people at all stages of life that can get into the same trouble.
The easy traps are having multiple cards and using all of them, charging up to your credit limit and then finding that even the minimum payments, when added together, are beyond your financial reach each month. Some people compound the problems by getting cash advances from one credit card to make minimum payments on all of the other cards. Pretty soon the problems spiral and people find themselves in real financial jeopardy. Don't let this happen to you!
Use Your Credit Cards Responsibly:
Make credit cards part of your financial planning and budgeting each month. Figure out what level of credit card debt you can handle, and don't exceed it. Your credit card may show a higher available credit line than is safe for you when added to your other financial obligations.
Set your own total credit limit and don't go beyond it. Keep track of your credit card expenditures like you record checks that you write. Remember that making minimum payments will make it very difficult for you to reduce the principal portion of your debt. Limit the number of cards you actually use. It is better to consolidate your charges on one or two cards so that you don't lose track of the total amount you are charging.
Teach Your Children Well:
Many of you have teenagers who will be going off to college or out on their own within the next few years. It may be convenient for you to give them a card of their own to use for expenses, and also, they may be solicited independently for credit cards that you know nothing about. The proper use of credit cards is an important lesson for you to teach your children, and it can't really be done in a short conversation before they get their first card.
Many parents have found success by giving teenagers still at home limited use of a credit card, setting a definite limit for expenditures and reviewing the monthly statement and each item listed for at least several months before they are left to handle their own finances. This gives the perfect opportunity for them to get the whole picture; to see how interest accumulates, and balances carry forward. It also provides a chance to explain things like late charges, grace periods, minimum payments and credit ratings. This monthly review would be a good idea, even if you don't give the child access to a card. It will still provide an opportunity for you to discuss the proper tools of financial responsibility.
Make Credit Work For You:
Credit cards have become part of how we live. It's difficult to imagine our society without them. Make sure that you take full advantage of the security, benefits and convenience they afford, but take positive steps to avoid the common problems that follow when they are misused.
If you have any questions on credit cards or need help consolidating debt, please stop in and visit any of our member service representatives.
+ Don't Be The Victim Of A Scam
You've worked hard for the money in your accounts here and it would be devastating to lose it to a con artist or a scam designed to rob you. Please beware of the tricks used to help steal money from you. Some have been around forever, but new ones come along all the time.
Guard your account numbers. There are countless ways that creative thieves can steal from you if they have your account numbers. They will lure you with promises of prizes or cash awards. They may say they are working in some official capacity and need to verify your numbers. They may even be going through your garbage, looking for statements and receipts. Be very cautious. If a prize is genuine, you don't need to give an account number to get it. Also, bona fide representatives of financial institutions or agencies won't ask you to disclose this information; they have access to it already. Be careful about what you throw away in the trash. Statements and bills have a lot of information about you that you really don't want to get into the wrong hands. Shredding these papers before disposing of them is the best way to keep your information private, and the price of a shredder is small compared to what it can cost you if the wrong people get their hands on your personal information.
Guard your identity. One of the worst ways con artists and thieves victimize people is by stealing their identity. They obtain your social security number and other personal information and use it to open credit card accounts in your name or withdraw funds from your accounts. They literally "become you" and rack up thousands of dollars in charges on accounts you don't even know you have. They don't make payments on the accounts, of course, and then who gets in trouble? YOU.
Be very cautious about your social security number. Don't carry your card in your wallet in case the wallet is lost or stolen.
Don't have it printed on your checks. Be very careful about giving it out. We have even heard about a new scam where a caller asks if you would like to stop getting telemarketing calls and asks for your social security number as an identifier to add you to their list. Don't be fooled by this. When someone steals your identity and opens fraudulent accounts in your name, it can ruin your credit rating and cost you a lot of money and time to get things corrected. It is a good idea to examine your credit bureau regularly to make sure all the accounts listed are yours.
We all have to take an active role in the protection of our money and good name. Don't be afraid to question things that don't seem right, or seem too good to be true. If you are not certain about who is asking for your social security number or account numbers, don't give them out. It is better to be safe then sorry.
Unfortunately, as quickly as technology advances, so do the skills of thieves who make a living by separating honest people from their money. Please use every precaution to keep yourself from becoming the victim of these unscrupulous individuals.
+ Protect Yourself Against E-mail Fraud - Don't Get "Phished"
Internet scams are one of the fastest-growing frauds today. "Phishing" is bogus e-mail messages that use legitimate materials such as: credit unions or other organization's Web site graphics and logos. The e-mail messages may "look and feel" official. They are sent in an attempt to entice e-mail recipients to provide personal financial details, such as: account information, credit card numbers, and social security numbers.
Financial institutions, government agencies, retailers, credit card companies and many other organizations have not been immune to "stolen" Web site graphics, corporate logos and other materials. Fraudsters used these items to trick individuals into divulging personal financial information by responding to an official-looking, bogus e-mail
Successful cons and scams, prey on the unwary. Here are a few suggestions our members can follow to fight back against this fraud.
The following are some simple things to do to protect your self against an unwanted e-mail scam:
- Never respond to an unsolicited e-mail that asks for personal financial information.
- Report anything suspicious to the proper authorities.
- Contact the credit union and alert a staff member or question anything by a known legitimate phone number before you respond to the suspect e-mail.
- Alert the proper government agency identified in the suspect e-mail through a legitimate Web address or legitimate phone number.
- Contact the Internet Crime Complaint Center at: www.ic3.gov a partnership between the FBI and the National White Collar Crime Center if you think you have received a "phishing" e-mail or have been directed to a "phishy-looking" Web site.
Stop, Look, And Call:
The Department of Justice advises the following if a member receives a suspicious e-mail:
- Stop: Do not immediately respond to a suspicious e-mail and provide the requested information, no matter what the exaggerated claim.
- Look: Read the e-mail text several times. Ask yourself why the requested information would really be needed.
- Call: Phone the organization using a known legitimate phone number. Not one provided in the suspicious e-mail message.
What To Do If You Have Been "Phished":
What should you do if you think you have provided sensitive financial information about yourself through a "phishing scam? You should:
Immediately contact the organization for which you provided the information.
Contact the following credit bureaus and request that a fraud alert be placed on your credit report.
- Equifax: 1-800-525-6285
- Experian: 1-888-397-3742
- TransUnion: 1-800-680-7289
File a complaint with the Federal Trade Commission at: www.ftc.gov or call: 1-877-382-4357.
NOTE: DN Community Federal Credit Union members should NEVER provide personal information in response to an unsolicited telephone call, fax, letter, e-mail or Internet advertisement. Don't get hooked by fraudulent "phishing" attempts.
Even when you are conducting business with the credit union, it is safer NOT TO E-MAIL ACCOUNT NUMBERS, SOCIAL SECURITY NUMBERS, ETC, to Member Service Representatives. Process your transactions through secure means such as: Online Banking or Touch-Tone Access, or call us by phone during business hours.