2nd Quarter 2013 News & Updates Newsletter
- National Credit Union Youth Week
- 2013 Annual Meeting Highlights
- Summer Loan Special
- Credit Union Privacy Notice
- Loan Rates are Better Than Ever!
- Need Extra Cash?
- Withholding Notice Forum 2317
- Lake Winnespesaukah Amusement Park 2013 Consignment Tickets
- And Much More...
This is to inform you of the changes made to the MEMBER'S CHOICE® Credit Disability and Credit Life
coverages currently being provided to you through Chattanooga Federal ECU. The following provision changes
will be effective February 1, 2012.
- Your plan of benefits has changed from 30 day Non-Retroactive to 14 day Non-Retroactive. This affects the
Total Disability Benefits provision of the Certificate previously given to you. The new provision will provide that
instead of being disabled for 30 days with benefits beginning on the 31st day, you must be disabled for
14 days with benefits beginning on the 15th day. In addition to your plan changing, there has also been an
adjustment to your rate. The increase in premium could result in a higher last payment or may extend the
duration of the loan. The new Credit Disability Insurance rate per $100 of outstanding loan balance is $.22 for
the Single Insured Plan.
There is no action necessary on your part to continue coverage if you already have it. In the event you do not
want coverage to continue, please notify the credit union.
IT IS IMPORTANT THAT THIS NOTICE BE ATTACHED TO YOUR CERTIFICATE.
Click here for a printable version of notice
Checking at CFECU
Chattanooga Federal Employees Credit Union does not believe you should pay for the convenience of your debit card and we have no plans to
institute a fee as some of the larger financial institutions are doing. Our share draft accounts are the best value in town. You never pay
for Visa Debit card fees, online banking, or online Bill Pay. In addition, the number of ATM’s you can use without a surcharge in the
Chattanooga area has increased. For a complete listing of free ATM’s you can use, go to
www.co-opnetwork.org and type in your location.
If you are paying for these services elsewhere, come talk to us about moving your checking account to your Credit Union.
AutoCheck Vehicle History Reports Now Available at CFECU
CFECU members can now purchase AutoCheck Vehicle History Reports from the Credit Union for only $10.00 per report. This is a savings of 67% from the regular price. AutoCheck Vehicle History Reports answer questions such as:
- Has an accident ever been reported on the vehicle?
- How many people have owned this vehicle?
- Has the vehicle been damaged by floods, fires, hail or other natural disaster?
- Is the mileage on the odometer accurate?
- Has the vehicle ever been recalled?
- Was the vehicle used as a service vehicle (police car, taxi, etc.)?
- Has the vehicle ever had a branded title (e.g., junked, salvaged or rebuilt)?
- Was the vehicle ever repossessed or stolen?
- Has the vehicle ever been sold at auction?
- Is there a lien on the vehicle?
If you are looking to purchase a used vehicle, put your mind at ease by reviewing an AutoCheck report first. To obtain a report, contact Deborah, Johnny, Sarah, or Mark. You will need to provide the VIN for the vehicle(s) you would like checked and they can deduct the $10.00 fee per report requested from your account and provide the report within minutes. This is another way the Credit Union is looking out for its members.
Withholding Notice (Form 2317)
Payments from your IRA are subject to federal income tax withholding, unless you elect no withholding.
You may change your withholding election at any time prior to your receipt of a payment. To change your withholding election, complete the appropriate form provided by your credit union.
Withholding from IRA payments, when combined with other withholding, MAY relieve you from payment of estimated income taxes. However, your withholding election does not affect the amount of income tax you pay.
You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are insufficient.
Click to read a
Notice from the Board and Management regarding the Safety and Soundness of your credit union.
Auto Loan Rates
If you are looking to buy a new or used vehicle or if you financed your vehicle at the dealer, it’s time to see if we can offer a better deal. Our vehicle loan rates are now as low as:
1.99% for up to 6 years*
*Rate subject to individual credit approval and may vary based on your credit score.
MEMBERS® Auto and Homeowners Program and Insurance Products.
Click here for details.
A new look for Virtual Branch!
Click here to see the
“To Buy or to Fix-Up?” ... that is the Question!
With the economy the way it is today, buying a house may be difficult...