4th Quarter 2013 News & Updates Newsletter
- Skip-A-Payment Time Is Almost Here!
- Christmas Check Disbursements - It's Time To Shop
- Withholding Notice (Form 2317)
- And More...
Credit Union News and Updates
The Board of Directors and Staff of Chattanooga Federal Employees Credit Union would like to welcome Tioga Pipe Supply Company, Inc. and
Southeast Total Service to our field of membership. We look forward to opening new accounts for employees and family members of these two new
groups and meeting all your financial needs.
“To Buy or to Fix-Up?” ... that is the Question!
With the economy the way it is today, buying a house may be difficult. If you
are trying to sell your house you have probably found out that it is hard to do
that right now. So if you are trying to upgrade to a better house, it may just be
better to stay in the house you are living in and add a room, or porch, or add
that new siding, rebuild that kitchen, remodel that bathroom, add a swimming
pool, or whatever it takes to improve your house and its value. Your Credit
Union has good equity loan rates for you to be able to do these improvements.
Your Credit Union has good equity loan rates for you to be able to do this.
The rates start at 4.25% for 60 months! If you want or need to go longer,
then we can extend the equity loan to 10 years and the rate
is still only 5.25%. What is even better is that your Credit
Union doesn’t charge you any origination costs or discount
points. In fact our closing costs tend to be some of the lowest
in all of the Chattanooga surrounding area.
So forget about trying to sell your house! Forget about trying
to buy a new house! Just come in and let your Credit
Union help fix-up your existing house and enjoy life without
the pressures of the world. We would love to help you
accomplish your dreams!
Rates … Rates … Rates
What are all the rumors about the lowest rates in town? The Credit Union has a deal for you! The Board of Directors and Management have done the math and it’s time to get down to business! Your Credit Union has money to loan and want to share the funds with the membership by lowering the loan rates. Our loan rates are the best rates in town so check it out and
start making plans to spend some money!
Home loans are included in these rate reductions so maybe its time to purchase that much needed home for your family. Cars, furniture, jewelry, boats, motorcycles, clothing, dental work, bill consolidation, you name it, you apply, and if at all possible, the Credit Union will make
this the greatest year yet. Call or come
by the Credit Union and our friendly Member Service Representatives will get you started. The rest is up to you!
The funds are available so call today! (Risk-based lending rules apply.)
Check Us Out!
Choose a Checking Account That Fits Your Lifestyle!
Your Credit Union has a variety of checking
(draft) accounts to meet your individual
needs. Our BULK RATE ACCOUNT pays
no dividend but requires no minimum
balance. Our FIRST CLASS ACCOUNT
pays dividends on average balances of $200
or more. If the balance drops below $200,
a $4 service fee will apply. Our PRIORITY ACCOUNT pays
dividends on average daily balances. The minimum balance
required is $2,500 or a $7 monthly service fee will apply. The
first order of checks is free on all three accounts and all other
check orders are free on the PRIORITY ACCOUNT.
benefits of having a checking (draft) account with your Credit
Union include Overdraft Protection, Direct Deposit, Unlimited
Check Writing, and ATM access with
VISA Debit Cards. These are just some of the benefits of having
one of our DRAFT ACCOUNTS. Please contact the Credit
Union and we will be happy to discuss the account that best fits
Boxes are Available...
In order to accommodate our membership, we increased our number of safe deposit boxes by 36 new
boxes. Some have been
taken but not all are rented out as of now. The boxes range from $25.00 to $75.00 per year rental.
Compared to competition this is inexpensive and convenient! So stop by or call the Credit Union to get a
box rented before they are all gone.
Get Your Check-Ups
Your Credit Report and You
Many people don’t realize they are victims of identity theft until long after the initial crime occurred. Identity thieves often try to
hide the crimes for as long as possible so that they can access more money. To stop the crimes as soon as possible, make sure you carefully
check your credit reports regularly. Your credit reports are important tools for limiting the amount of damage a thief can cause.
How to Read Your Credit Report
- Check to make sure you are aware of all accounts listed, and balances are what you expect them to be.
- Look for anything suspicious in the section that lists who has received a copy of your credit history. Some identity thieves “pretext” by posing as landlord or employer.
- Make sure no inquires have been made about loans or leases you didn’t apply for.
- Check for addresses where you have never lived.
- Check for typos in your social security number.
- If there is any incorrect information in the records, contact the credit bureau, creditor, employer, or government agency immediately.
Follow up with a letter describing what actions were taken. Your protections are stronger if you report the problem quickly and in writing.
You are entitled to receive one free credit report every 12 months from each of the nationwide consumer credit reporting agencies –
Equifax, Experian, and TransUnion. This free credit report can be requested by visiting
and following the
If you have moved, as there seems to be a lot of our members moving
and changing addresses, it is very important that you notify the
Credit Union in writing or stop by the Credit Union to let us know your new address.
By doing this you avoid not getting your statement on a timely basis. If you moved
recently, and can not remember telling us of the move, please do so as soon as possible. Also understand we can not take
the change over the phone or by fax due to the new privacy laws in effect. With identity fraud as prevalent
as it is today, we cannot afford your information being inaccurate or not being yours.
1st Quarter 2013 Projected Dividend Rates
These are still the best savings rates in town!
The following dividend rates are projected for the 1st Quarter, 2013:
Share Account (savings) - 0.10%
Priority Checking - 0.10%
1st Class Checking - 0.10%
Christmas Club - 0.25%
IRA Accounts - 2.25%
$500-$9999.99 - 0.40%
$10,000 & over -
As of November 30, 2012:
Assets - $50,131,098
Shares - $42,979,861
Loans - $22,138,285
Members - 3,149