In Your Interest
Keep up with happenings at IU Credit Union with In Your Interest, our quarterly member newsletter.
|Summer 2014 Issue:|
Take Advantage of our Special Balance Transfer Offer
Don't have a Platinum Rewards Credit Card?
Work Your Home-Improvement Plan
Whether you're remodeling a home you've just bought or adding value to your existing home so you can stay in it longer, now's the time to work on your own home-improvement plan.
A home equity line of credit (HELOC) can help you finance a renovation or remodel. With a HELOC here are just some of the changes you can make:
- Add more living space: Redesign your kitchen, expand your home office, or turn your bedroom into a master suite.
- Accommodate your changing family: Create a separate living area for a family member, open up your kitchen and dining area, or update your bathrooms.
- Personalize to fit your lifestyle: Add an enclosed porch, a three-season porch, or swimming pool.
- Become energy efficient: Replace your roof or windows, change to geothermal heating, or add solar.
The advantages of using a HELOC include:
- Potential tax benefits: Home equity interest payments are generally tax-deductible.
- Lower monthly payments: Interest rates on HELOCs are typically lower than credit card or personal loan rates.
- Greater financial control: With a HELOC, you withdraw and pay interest on only what you need when you need it.
First decide how much you need by making an accurate estimate of what the project will cost. If you're hiring a contractor, start with a firm bid and add 10% for surprises.
If you'll do the work yourself, list your materials, including quantities and costs, permit fees and equipment rental costs to get an accurate total. Add a cushion of 20% to 30% to be safe.
However you want to improve your home, IU Credit Union has home equity loans to suit your needs.
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 7/8/14 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.
Each year IU Credit Union offers eleven $1,000 scholarships to graduating high school seniors. Scholarships were offered to students at Bedford North Lawrence, Bloomington North, Bloomington South, Brown County, Eastern Greene, Edgewood, Lighthouse Christian Academy, Martinsville, New Tech and Owen Valley.
Also awarded was one additional $1,000 scholarship available to any high school senior in our membership
Bedford North Lawrence HS
Bloomington HS North
Owen Valley HS
Bloomington HS South
Lighthouse Christian Academy
Eastern Greene HS
The Academy of Science & Entrepreneurship
Brown County HS
How the Typical Family Pays for College
Need help filling educational funding gaps?
There is a better way to pay for college. Our student loan program can help you fill the gaps that federal aid may leave behind. With lower interest rates, you can save hundreds of dollars a year by choosing an IU Credit Union student loan over other "alternative lenders."
With a student loan from IU Credit Union you will find:
- Low Rates
- Zero origination fees
- More flexible repayment options
- Quick and easy online application process
IUCU Out and About
The IU Credit Union once again celebrated Independence Day by participating in the Bloomington Parade. This community tradition is great for the whole family and we were proud to wear the Red, White and Blue!
IU Credit Union will also be attending the Monroe County Fair, July 26th-August 2nd. Stop by our booth so we can thank you for being a member. Chat with our Credit Union employees and see what great, “fair” deals we can offer you!
Keep Your Identity Safe While Traveling
When accessing your accounts or paying bills online:
- Use a secure network with up-to-date antivirus software and a firewall.
- Don't access your personal information from a public computer.
- Fully log out of your account when finished.
When using an ATM:
- Convert your personal identification numbers (PINs) to four numeric digits (not your birthdate)—the standard in most foreign countries.
- Try not to use an ATM that's outside. Try to use ATMs that are indoors, such as in a financial institution.
- Beware of your surroundings when entering your PIN and receiving cash.
When out and about:
- Don't carry extra credit careds or personal information (Social Security number and so forth) in your wallet or purse unless necessary.
- Never leave your purse or wallet unattended.
- Beware of distractions. Criminals create or take advantage of distractions and then try to steal your personal items.
- Include your credit card companies' and your the Credit Union's phone numbers in your list of important phone numbers.
For more information to help keep your finances safe & secure, visit our Online Security Center.