In Your Interest
Keep up with happenings at IU Credit Union with In Your Interest, our quarterly member newsletter.
Take a Pic, Deposit a Check—It's that Easy
Mobile Deposit is here!
Though we love to see you, stopping by a branch to deposit checks can be inconvenient if you're running short on time or if you're out of town. Making a mobile deposit is simple and takes just minutes to complete. You can make one anywhere, anytime.
Mobile deposit is accessible through your IU Credit Union mobile app. Get the app—available through iTunes or the Android Market—by searching "IUCU or IU Credit Union." For more details and information about Mobile Deposit, click here.
Greenwood and Bloomington Branches
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Notice—American Express Traveler's Cheques
Beginning December 31st, the IU Credit Union will no longer be offering American Express Traveler's Cheques. If you are traveling and need a safe alternative to cash, we offer debit cards for checking account holders and low-rate Rewards Credit Cards.
Keep in mind that a fraud detection service monitors the activity on your debit and credit cards 24 hours a day. If you know you will be using your cards in a place that is away from your home area, please call Member Service to notify them of your travel plans to assist the fraud detection service in reviewing your transactions.
You are One in a Hundred Million!
You are One in a Hundred Million!
Credit unions have reached and surpassed 100 million memberships nationwide—equivalent to one of every three Americans.
The 100 million count is based on credit union data collected and compiled by the Credit Union National Association, Washington, D.C., and Madison, Wis., in its June 'Monthly Credit Union Estimates.' CUNA estimates that credit union memberships expanded by 2.9% from June 2013 to June 2014, and the 100 million mark was achieved in June.
Credit unions added 2.85 million additional memberships over the past year—the largest reported increase in more than a quarter century. The increase was the fastest, in percentage terms, since 2000, according to the CUNA analysis.
"Clearly, there is growing recognition for credit unions among consumers,' says CUNA President and CEO Bill Hampel. 'They increasingly understand that a credit union places their interests above all else, particularly in returning financial benefits to consumer members in the forms of lower rates on loans, higher returns on savings, and lower and fewer fees.' He adds that, in 2013, those financial benefits totaled more than $6 billion.
Hampel points out that, as cooperatives, credit unions are owned by their members and exist to provide financial services to those members. Banks, he notes, which are owned by shareholders, exist to return profits to those shareholders.
"It's the structure of credit unions—as not-for-profit, democratically led, and cooperatively owned financial institutions—that allows credit unions to maintain this focus on returning financial benefits to members," CUNA leader Hampel says. "In fact, by doing so, credit unions have earned the satisfaction and trust of their existing members—and are attracting even more."
CUNA Chief Economist Mike Schenk says other factors within the financial services marketplace have played key roles in credit union growth. He notes that a growing number of consumers continue to express dissatisfaction with big Wall Street banks due to the economic downturn and consumer movements such as Bank Transfer Day in 2011, when consumers were urged through a grassroots movement, primarily on social media, to leave big banks and move their money to a credit union or small bank because they tend to offer better rates and incur fewer fees.
"In 2010, credit union membership barely grew, expanding by just about 0.65%, or about 600,000 memberships," Schenk says. "But, with the spotlight turned in 2011 to the increasing fees banks were charging—particularly for debit cards and other products—and the additional publicity for the lower and fewer fees at credit unions, membership growth that year more than doubled over the previous year, by 1.4 million—and the rate of growth has increased in each subsequent year."
Schenk notes that not everyone can join the same credit union, but there is a credit union for everyone. Consumers looking for a credit union they are eligible to join should visit aSmarterChoice.org, a website that includes a comprehensive credit union finder, and helps consumers learn more about credit unions.
Additionally, hundreds of credit union members have shared their credit union story with photos on americascreditunions.org and social media to show they are part of an organization that focuses on their best financial interests. Learn more about the 100 million credit union memberships nationwide milestone by visiting www.americascreditunions.org.
International Credit Union Day
Join the IU Credit Union and many other credit unions across the globe in celebrating International Credit Union Day on October 16th. Our branches will have refreshments to commemorate the occasion. Stop in and celebrate the community that credit unions have built—both locally and globally.
Coats for Kids and Those in Need
Itís the most wonderful time of the year—and also the coldest! The IU Credit Union has once again set up donation boxes for the Salvation Armyís Coats for Kids and Those in Need clothing drive. Drop off gently-used coats, scarves, hats and mittens at any of our Bloomington locations from now through November to help ensure a warm holiday season for all.
Introducing Our New Vice President of Information Technology
VP, Information Technology
The IU Credit Union would like to introduce Teddie Steele as its new Vice President of Information Technology. Steele has over 20 years' experience in the financial services industry and over 15 years in Information Technology. She most recently served as Manager of Information Technology for State Department Federal Credit Union in Alexandria, Virginia, where she was employed for nearly nine years. Steele's experience also includes Internal Audit at Burke and Herbert Bank and Trust in Alexandria, Virginia and various positions at Travis Credit Union in Vacaville, California.
Steele has participated in a variety of technology driven forums including the CIO Roundtable and CUCTO (Credit Union Chief Technology Officer) group located in the Washington D.C. Metro area.
Win Tickets to Shrek the Musical
IU Credit Union is the title sponsor of the Cardinal Stage Company's IU Credit Union Education Initiative. This year, we're giving you the opportunity to win a family four-pack to the holiday season's Shrek the Musical. Described as "cheeky, heart-warming, irresistible fun", the show is great for the whole family. To enter, send your name and daytime phone number to firstname.lastname@example.org and use the subject line "Shrek". All entries must be received by November 30th.
In the News: Password Protection
Keeping your information safe should always be a top priority. Recent cyber attacks shed light on the importance of password protection. One example from the past year was the Heartbleed threat. It exposed millions of usernames, passwords, and other information. But the old advice—change your passwords regularly to protect yourself and your personal data—still is true. And now technology can help.
Password managers are programs that store and encrypt your passwords. With a password manager, you have to remember only one password to log in to all of the websites you use. Here are three of the most reliable, user-friendly options:
LastPass. This cloud-based password manager syncs with your browser and imports saved passwords. Or simply navigate to the websites you use, and LastPass will prompt you to manually enter and save your logins. LastPass offers multifactor authentication, which adds a second login step for additional security. The free version allows you to sync your account to multiple computers. LastPass Premium costs $12 a year and adds mobile and tablet access.
Dashlane. Like LastPass, Dashlane imports passwords from your browser and saves them in a secure "password vault." Dashlane can rate the strength of your existing passwords and automatically generate stronger ones. Dashlane gives you a choice between storing data locally or in the cloud. The free version covers use on one device, while the premium version is $19.99 and syncs across all devices.
Roboform. Roboform mimics a browser bookmark: You select your desired website from a dropdown list, and Roboform fills in your login information. It also saves form data, such as name, address, and online payment information. Like Dashlane, Roboform allows you to choose between local or cloud storage. Roboform Everywhere, which offers one license across multiple devices, costs $9.95 for the first year and $19.95 each year after that. Roboform Desktop, which offers local storage on one computer, costs a one-time $29.95. Finally, Roboform2Go costs a one-time $39.95 and allows you to store passwords on a USB drive and use with any computer.
Whichever password manager you choose, make sure your master password is as strong as possible. Your trusty password manager will take care of the rest.
For this article and more, click here to visit our Home & Family Finance online magazine.
Now is the Time to Unlock Your Home's Equity!
An IU Credit Union home equity line of credit gives you access to cash for home improvement, debt consolidation, vacations, and so much more. The power is yours!
Low introductory Fixed Rate:
.99% APR*for 12 months
Thereafter, rates as low as
Our Home Equity Line of Credit Features:
- Fixed 0.99% introductory rate for the first 12 months
- No annual fee for the first year
- Free check-writing access
- No prepayment penalty
- Possible tax deduction of interest^
*APR is Annual Percentage Rate. Offer applies to new home equity lines of credit only. The 0.99% introductory APR is guaranteed for one year from the date of closing. After the introductory rate, the APR will be a variable rate based on the prime rate as published in the Wall Street Journal, plus a margin. The current lowest variable APR available as of 10/1/14 is 3.50% APR, which includes a .25% discount for automatic payment from your IUCU checking account. The maximum APR that can be imposed is 18%. $50 annual fee waived the first year. Minimum line of credit amount is $10,000; fee of $150 applies for approved lines of credit less than $20,000. Closing cost may apply if title insurance is required. Some restrictions may apply. Contact the Credit Union for membership details. Property insurance is required. Investment mortgages are not eligible for this program. Rates, terms and conditions are subject to change without notice. Loans subject to credit approval.
^Consult your tax advisor regarding the deductibility of interest.
Take Advantage of our Special Balance Transfer Offer
Don't have a Platinum Rewards Credit Card?
IU Soccer BOGO Coupon
IU Credit Union is a proud sponsor of IU Men's Soccer!
Monster Loan Sale!
It's time to take advantage of drop-dead rates! It's scary how much you could save.
Current Rate on New/Used Cars & Trucks & Second Mortgages*
Friday, Oct. 24 & Saturday, Oct. 25 Only
The 0.50% rate reduction is:
- Applicable for new IUCU loans, including refinances from other financial institutions.*
- Good for applications received and/or approved/preapproved on 10/24/14 and 10/25/14 only.
- Available through online, in-branch, and phone applications, plus applications completed at participating dealerships.
Apply online or over the phone until midnight Saturday, October 25!
*Car and truck loans up to 84 months, second mortgages up to 60 months. Not applicable on Home Equity Lines of Credit. Rates, terms and conditions subject to change without notice. Rates, terms and conditions vary based on creditworthiness, qualifications and collateral conditions. All loans are subject to approval. Not applicable for an existing IUCU loan refinance.