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Archive for Credit Union

Generous 4.25% APY from Florida Central Credit Union

By BankAim · Comments (0)
Saturday, January 14th, 2012

When opening a new checking account, a high interest rate is the first thing people usually look for. And what’s not to love? Getting the highest growth and return for your money is what we’re all after.

This is exactly what the Florida Central Credit Union had in mind when it introduced its Ultimate Checking Account. Ranking on top of the rewards checking trend these days with its whopping 4.25% APY, it provides the best in checking account offers.

The Ultimate Checking Account

The 4.25% APY is applicable to balances of up to $15,000. This is a far cry from Southern Bank’s 4.01% and First Federal Bank’s 3.50% APY on the same balance amount. These runners-up are trailing far behind the Ultimate checking account, which also offers considerable APY rates for the following conditions:

2.75% APY – If only three qualifications meet the $15,000 balance
1.00% APY – If balance is over $15,000
0.10% – If no qualifications are met

Qualifying for it

What do you need to do in order to get the optimum interest rate of 4.25%? First off, you must meet several requirements, which you should comply to qualify monthly:

 12 debit card purchases post and clear at the least
 1 Direct Depositor or Automatic Payment post and clear
 Loan balances should be no less than $5,000
 Have paperless eStatements

If you fail to meet all qualifications, you can still wait out for the next cycle, while enjoying the 2.75% APY. And while waiting, you can still have unlimited debit card and check transactions, whilst maintaining the 0.10% base rate. As for the total $5,000 loan balances, keep in mind that these should not include market mortgages and credit cards. Plus, you are not required to have a minimum balance just to earn rewards.

Along with these, you also get to have free check cards, receive paperless bank statement, online banking, plus a round-the-clock telephone banking. Great returns and convenience all at once?That’s the Ultimate checking account.

About Florida Central Credit Union

Since its birth in 1958, the Florida Central Credit Union rapidly expanded to carry out its mission of creating a better community charter that caters to the banking and financial needs of people. Over the years, it has grown exponentially. With its recent revamp in the year 2006, stronger credibility became its new cornerstone. This led to the merging of several credit unions in the area under the flagship of the Florida Central Credit Union.

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Categories : Credit Union, High Interest Checking Accounts
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Post Holiday Loans from Velocity Credit Union

By BankAim · Comments (0)
Monday, January 2nd, 2012

The holidays have indeed been a blast! Crazy parties left and right were the scene, but now that the festivities are over and everyone’s already settled in and are preparing back to the regular days. Post-holiday bills are often a drag that could ruin your spirits. Now it’s time to remedy this dilemma, so you won’t need to have a lousy year opener. With Velocity Credit Union’s Holiday Loan Offer, you can still have the holiday spirits intact regardless of the post-holiday bills you may have.

The Promotional Offer

Velocity Credit Union’s Holiday Loan offers loans ranging from $500-$5000 with terms up to thirty-six months. That’s three long years to pay the loan with an interest rate of only 6.49% Annual Percentage Rate with a Member Rewards Discount. What’s even better about this offer is that unlike other credit unions that are offering somewhat the same loans, Velocity offers this holiday loan in fixed and stable terms and conditions. This means that you can be assured that as the duration of your loan progresses, your loan will still be subjected to the same rate. Other credit unions have variable rates plus hidden fees. That way, as time flies the rate of 6.49% will still be the same until you make your payment. With this offer, you can easily go back on track without any worries.

Additional Perks for Members

Of course, the offer gets better when you are already members of this union. Every member is entitled to their Member Reward’s discount which is .50% off on your next loan with certain exceptions to Real Estate loans, Quickloans; share secured and certificate secured loans. They also have the following perks for their members:

• .25% discount with 20% down payment on eligible secured loans
• .50% discount when you purchase a Credit Union repossessed vehicle
• .25% discount for Elite Rewards members
• .10% discount on Home Equity and Home Improvement loans when payment is automatically withdrawn from your Velocity checking or share (savings) account.
• .25% discount on Home Equity loans when Velocity Credit Union is the first lien holder on the property.

The maximum Rewards rate reduction for Home Equity and Home Improvement loans is 0.25%

About Velocity Credit Union

With an initial vision of serving the City of Austin employees, Velocity Credit Union has gradually molded itself to serving people on a nation-wide scale from its humble beginnings in 1947. And up to date, Velocity has still maintained the ideas of cooperation, self-help, and independence in all its dealings. With this in mind, your post-holiday bill is just one less thing to worry about.

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Categories : Credit Union
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Digital Credit Union Gives 1.25% APY on 1 Year Cd

By BankAim · Comments (0)
Sunday, December 25th, 2011

It seems that certificates of deposit rates have been holding steady for the past several months. When you check the CD rate leader board, you see the same banks with the same rates. Currently, the highest CD rate from banks on a 1 year CD is from CIT Bank, this has been so since October. However, it’s good to know that a higher rate is being offered by Digital Credit Union, which is 1.35% on a 12 month CD.

CD Rates from Digital Credit Union

3-5 months – 0.75%
6-11 months – 1.10%
12-23 months – 1.25%
24-35 months – 1.35%
36-47 months – 1.76%
48-59 months – 2.25%
60 months – 2.76%

How These Rates Compare

Other great rates from Digital Credit Union is their 3-5 month rate which currently beats the highest CD rate from banks which is Virtual Bank at 0.60%. And if their short term CDs are competitive, the long term CDs also boast of a better rate than the highest nationally available from banks which is Intervest Bank’s 1.97% Rate.

However, it is common knowledge that credit unions are expected to offer higher rates than banks. So how do these rates compare to other share certificates offered by credit unions? At this point, Navy Federal Credit Union is offering a higher 1 year CD with a 3.00% rate, First American Credit Union also has a slightly higher advantage with a 1 year rate of 1.76%. It goes to show that although Digital Credit Union’s rates can appear stronger than what banks have to offer, other credit unions may have better offers.

Digital Credit Union Membership

Credit Unions are usually restrictive in their membership. In this case however, it appears that anyone can join DCU by becoming a member in one of their participating organizations. For example, Reach Out For Schools is an organization that helps raise money to donate to primary and community schools. Membership starts at only $10. Another organization is American Association of People with Disabilities with a membership of $15. Just pay your membership dues and you are now eligible to join DCU. Of course there are other ways to become a member, membership eligibility can be found in their website.

The fact that DCU can open its doors to just about anyone is also a factor to consider since credit unions such as Navy Federal Credit Union are restrictive in membership. If you want to start growing your savings now, DCU may be the place to start.

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Categories : CD Rates, Credit Union
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Grab A 3.00% APY on 1 Yr CD with Navy Federal Credit Union

By BankAim · Comments (0)
Tuesday, December 6th, 2011

Navy Federal Credit Union does it again. Right now, they are offering an extremely high 1 year CD rate with a 3.00% APY. This rate is by far one of the highest available among banks and other credit unions considering the term.

The Promotion

The special certificated of deposit is called the Special Easy Start Certificate with a low minimum deposit of only $50. This CD has a term of 1 year with a whopping rate of 3.00% APY. The deposit is also compounded either daily or monthly.

How The Rate Compares

Right now, the highest 1 year CD nationally available from banks is from CIT Bank at only 1.15% APY. Credit Unions, being known for giving higher rates do offer much better rates but almost none as good as what Navy Federal is giving. Other 1 year CD’s from credit unions are at 1.26% from First Credit Union, 1.20% from Alliant Credit Union, and 1.15% from Melrose Credit Union. The only other credit union that beats this rate is from Patelco Credit Union at a promotional rate of 5.00%.

Other Rates From Navy Federal Credit Union

Other interesting rates from Navy Federal Credit Union includes their 7 year CD with a 2.80% APY. Most of the rates from the credit union aren’t as competitive as some banks and other credit unions, but they are still higher than the national average.

About Navy Federal Credit Union

This institution has been known for giving great interest rates and mortgages to their members. Membership is exclusive to some criteria such as being part of the Armed Forces, employed in the Department of Defense, relatives of qualified persons, and extended family. More details on membership can be found on their website. They also provide an eligibility wizard for you to easily determine if you are qualified to be a member or not.

Navy Federal Credit Union is one of the most established credit unions in the nation. It is also insured by the NCUA and it has its roots since 1933.

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Categories : CD Rates, Credit Union
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Pay Less On Closing Costs With Affinity Plus Credit Union

By BankAim · Comments (0)
Sunday, December 4th, 2011

Planning to purchase a home as your holiday gift to yourself and your family? You might want to consider getting a mortgage with Affinity Plus Credit Union. Their current rate for a 30 year fixed mortgage is at 4.195% APR which is a fair rate. Although there are other providers who can offer a lower interest rate, there are some perks which just might make you want to seal the deal with them.

Should you decide to get a mortgage with Affinity Plus, there are two options you can choose from to make the loan burden lesser for you. First, you can choose to have no closing costs but your APR will increase by 0.25%, or you can opt for a reduced closing cost of $1,499 and have no rate increase.

This offer is valid only for a first time mortgage and all loan products will be subject to approval.

Benefits of Taking a Mortgage and Refinancing With Affinity Plus

Affinity Plus Credit Union not only offers a reduction in your closing costs, but they also offer other services to make your loan application as easy as possible. They have a Preferred Realtor Program that will help you find the home that you need at a reduced cost. The Credit Union guarantees that you will certainly pay less in realtor fees. Home buying workshops are also available for the education of their borrowers, and of course, closing costs will not remain a mystery since the amount will be revealed to you from the very beginning.

Membership

The following individuals are eligible for membership with Affinity Plus Credit Union:

* employees and students of the state of Minnesota
* member of The University of Minnesota Alumni Association
* lives, works or worships in Roseville, Arden Hills, Mounds View, Shoreview, St. Anthony, New Brighton
* is a Minnesota Twins employee, or a family member of a Minnesota Twins employee
* or is a relative or housemate of any eligible person or current member

If you do not belong to any of these categories, you can also be a member by paying a one-time $25 fee to the Affinity Plus Foundation.

About Affinity Plus Credit Union

Affinity Plus Credit Union has its roots since 1930 and today it has over 126,000 members with assets of over $1 billion.

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Categories : Credit Union, Mortgage
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Great CD Rates from First American Credit Union

By BankAim · Comments (0)
Thursday, December 1st, 2011

Now that the sales and discounts from Black Friday and Cyber Monday are over, we can finally start getting out of hyper mode. However, despite the fact that sale holidays are over, we can still continue to rejoice over great deals that happen to be available for extended periods of time. Take for example these great CD rates from First American Credit Union. Great rates include 1.26% for a 1 year CD, 1.76% for a 3 year CD, and 2.52% for a 5 year CD.

How These Rates Compare

Right now the highest 1 year CD nationally available from banks is 1.15% from CIT Bank. This puts First American Credit Union’s rate higher. CIT Bank also holds the higher rate for 3 year CDs with a 1.54% APY, however, First American CU’s rate is still higher. This also holds true for the 5 year CD rate where the highest nationally available from banks is only at 1.99% from Intervest National Bank.

What’s the Catch?

When we see such great rates, we always end up wondering if there’s a catch somewhere. First of all, we have to remember that the institution offering these rates is a credit union, and not a bank. One issue with credit unions is that they are sometimes restrictive with their membership. According to their website, First American Credit Union’s membership is open to anyone who lives or works in Rock County, WI, Green County, WI, Walworth County, WI or Winnebago County, IL. However, according to one consumer, if you ask their customer representative, the credit union has no requirements for membership. Just open an account with a minimum deposit of $5.

Another thing to notice is that these CD rates are available only for minimum deposits of $50,000 which is relatively a large amount which not everyone may be able to have.

About First American Credit Union

First American Credit Union has its roots in 1933 and was acquired by First Community Federal Credit Union in Michigan by 2010. It currently serves 78,500 members and it has 16 operating branches.

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Navy Federal Credit Union Rocks Cyber Monday

By BankAim · Comments (0)
Sunday, November 27th, 2011

Now that Black Friday is over, the shopping still hasn’t come to a close. Because of the popularity of online shopping, a new holiday has done us all a favor in extending the much needed sales and discounts for the holidays. Some people say Cyber Monday is a lot more convenient since all you need is a laptop and an Internet connection, and probably if you have that perfect credit card to use, Cyber Monday would surely be a blast.

The Offer

Navy Federal Credit Union is offering their consumers just that. The credit union is challenging their would-be customers to say goodbye to their old credit card and sign up to a Visa with them. The card from Navy Federal Credit Union is said to have cash back rewards for every purchase, no annual fee, plus super low interest rates. Plus you can feel safe to shop online because of their $0 Liability policy that protects you from unauthorized purchases. Since this seems like the usual offer, what’s more to it?

Corporate spokesperson Donovan Fox reveals that Navy Federal members can enjoy the new “Member Mall” which gives access to over 700 retailers online while dishing out discounts and rewards points in the process. The member can earn rewards points when they use Navy Federal Visa, but the type of card will determine how much points and reward types they can get. It has been reported that the Member Mall offers competitive and better discount rates than most other retailers online.

The credit cards available from Navy Federal Credit Union are cashRewards,nRewards, nRewards Secured, goRewards, Visa Signature Flagship Rewards, and Platinum. Again, points and reward types will be determined by the type of card.

Membership

Membership is for All Department of Defense uniformed personnel, reservists, government employees assigned to DoD, family members of eligible individuals, and others serving for the Department of Defense. The website also offers a Membership Eligibility Wizard to know if you’re eligible for membership.

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Categories : Credit Union, Credit Unions
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Triple the Black Friday Fun with Envision Credit Union

By BankAim · Comments (0)
Sunday, November 27th, 2011

Black Friday might be over, but the promotions continue to extend throughout the weekend. For those who have yet to do their shopping, you might want to use your credit or debit card from Envision Credit Union. For those who already have the card, Envision Credit Union is offering 3x Scorecard Bonus Points!

The Promotion

Use your Debit card or Credit Card from Envision Credit Card this Black Friday weekend and earn 3x more points than usual. You can choose whatever you want to purchase. Whether it’s holiday gifts for your loved ones, airline tickets to your hometown, food, gas, or that ski trip you’ve always wanted to take, you can get three times as much points as you normally would.

There’s one thing you have to remember though, if you’re using your Envision Debit Card, make sure to sign instead of using your PIN.

Plus, Get the Chance to Win $500!

If having three times the fun in points when shopping this weekend, Envision Credit Union also offers their consumers the chance to win an extra $500 this holiday season. All you have to do is get a new Visa credit card or transfer your balance to a Success card, and you already stand a chance to win $500 which would be enough to cover your holiday expenses, and perhaps more. The drawing will be done twice, once at the end of November, and another at the end of December.

Envision Success Visa Credit Card Perks

Some of the perks include:

* A low 2% APR on balance transfers for the first 6 months
* 2% Introductory APR for the first 6 months
* 1% Cash back on purchases
* Low Variable APR of only 7.5%

Get Your Cash Back Checks this November!

And if you feel that money only spills out during the holiday season, think again because if you’ve been using Envision Success Visa Credit Card, then your cash back check is expected to arrive in your mail last November 15th.

Membership

Envision Credit Union is one of those credit unions that limits its membership to certain locations and organizations. In order to join, consumers may visit their branches located in Tallahassee and Quincy, Florida.

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