Tag Archives: USACU

Letter from the CEO: We’re here to help!

At the beginning of 2019, the government shutdown added to a lot of members’ financial worries. As a credit union with a primary membership field of federal employees, we actively assisted our members who were affected by the government shutdown with our Furlough Assistance Program. Our goal is to provide members with some peace of mind, and we are always here and ready to help.

As a member-owned financial institution, we are here to serve our members by living up to our mission to provide solutions to improve each member’s financial life. We pride ourselves on things we do and won’t do, including how we won’t turn our backs to our members when they need us the most. Your financial wellbeing is and will always be our top priority.

Looking ahead, we will continue to provide our members free financial education and counseling to guide them in their financial success. It’s important to start building good financial saving and spending habits in our youth, and that is why we are excited to bring financial reality fairs to local high schools in 2019. The program will help students gain a good understanding of the benefits and importance of budgeting, and practice making sound financial decisions as an adult.

I would like to take this opportunity to thank our members for the trust they place in us, and thank you for being a part of USAgencies’ family!

Jim Lumpkin, President/CEO, USACU
Jim Lumpkin
President/CEO
USAgencies Credit Union

 

 

 

Tips to Improve Your Credit Before Buying a Home

Brought to you by our friends at the Bureau of Consumer Financial Protection

In general, the best mortgage interest rates go to borrowers with credit scores in the mid-700s or above. These borrowers also typically have the most offers available to them.

Haven’t checked your credit report recently? Now is the time to do so. You’ll have concrete information to help you make the best decisions about what to do next. And, you’ll find out if there are any errors on your credit report that may be lowering your credit scores. You’ll also see which areas you may be able to improve. Checking your own credit won’t hurt your credit scores.

It’s important to understand that you don’t have just one credit score. There are many credit scoring formulas, and the score will also depend on the data used to calculate it. Today, most mortgage lenders use FICO scores when deciding whether to offer you a loan, and in setting the rate and terms. Most mortgage lenders request and evaluate your credit scores and the scores of any co-borrowers from all three major credit reporting companies and make their decisions based on the middle score.

Check out our step-by-step guide to checking your credit reports and scores. We cover the basics on how credit reports and scores work, how to get a copy of your reports and scores, how to check for errors, and how to file a dispute if you find errors.

If you’re worried about your credit scores, rebuilding your credit (or building it for the first time) won’t happen overnight. But there are steps you can take and mortgage options you can consider if your score isn’t where you want it to be.

Questions? Connect with our Loan Specialists today at 503-275-0300 Option 2.


Are you up for an easy challenge to win some extra cash? Subscribe to our blog for a chance to win a $50 cash prize*.

Entering the contest is easy.  Here’s how it works:

  • Subscribe to our blog by entering your email in the box above the “Follow” button on the left menu
  • Each week in February, we will publish a blog along with the trivia question at the end of each blog
  • Email your answers to social@usacu.org by February 28, 2019

QUESTION 1:  What score does most mortgage lenders use when deciding to offer loans?

Official Contest Rules

*NO PURCHASE NECESSARY. Terms and conditions apply, read the official contest rules for complete details. open to individuals ages 18 and over. Board of Directors, Volunteers and Employees of USACU and their immediate families and individuals living in the same household are ineligible. Void where prohibited.

Debt Consolidation Loans

What is a Debt Consolidation Loan?

In general, a debt consolidation loan can be defined as a loan that combines multiple debt obligations into one single loan. These loans tend to have lower interest rates than many existing debts. They also allow the borrowers to make only one payment per month instead of many.

Advantages

  • Pays off high-interest credit cards or other debts with low-interest loans
  • One easy monthly payment to make
  • A closed-end loan will result in a set payment schedule
  • May result in lower overall monthly payments
  • Establishes good credit history, if paid back as agreed

Things to be Prepared For

  • Some type of collateral may be required before approval
  • A co-signer on the loan may be required before approval
  • Credit score will be a significant factor

As you can see, there are some important factors to consider. If you are struggling with high credit card debt, you first must strive to change your spending habits and learn to live within your means. Setting a budget is the first step, and with Money Management you can know your accounts, track your budget, and watch your spending all  in one place.

It doesn’t make a lot of sense to consider a debt consolidation loan if you will be continuing to incur monthly balances on your credit cards. In the long run, you will end up having a higher overall debt balance if your spending behavior does not change.


Is it time to tackle your post-holiday debt and give your budget a breath of fresh air? Our Debt Consolidation loan offers you that chance. Connect with our Loan Specialist today at 503-275-0300 Option 2 to apply today. 

Holiday Lights in Portland

Lights are going up around the city of Portland and surrounding areas, which can only mean one thing – the holidays are upon us! It is time to layer on those jackets and scarves, and celebrate with your loved ones. Portland and beyond has several classic light displays that are great for continuing, or starting, family traditions. We have compiled a list of family ( and wallet ) friendly places to experience this holiday season to help keep you within your budget.

Fantasy Trail at Wenzel Family Farm

Take a Christmas walk through a lighted, wooded “Fantasy Trail”, decorated with thousands of lights for Christmas enchantment. The trail includes a 40 ft castle with Christmas scenes, a maze, crooked house, suspension bridge and more. You can also warm up by the nightly bonfires, with a warm cup of hot chocolate.

The Grotto’s Christmas Festival of Lights

with sights, sounds and sensations for the holiday season, The Grotto’s Christmas Festival of Lights is the largest Christmas choral festival in the world. Five indoor concerts are schedule each evening. The fun doesn’t end there ; the Grotto’s plaza area also includes outdoor caroling, puppet shoes and a live petting zoo.

Peacock Lane

Each house on this quaint SE block has been decorating their Tudor style homes for decades. Adorned with beautiful lights, nativity scenes and more, this Portland tradition always brings in a crowd.

Winter Wonderland at Portland International Raceway

There are glimmers and glows around every corner as you journey through the Winter Wonderland. With over 250 color light pieces, and many fully animated scenes this will not disappoint. Even better? It is all done from the comfort ( and warmth! ) from your own vehicle.

Miracle of a Million Lights

Head to the decorated 2.5 acres of a million plus twinkling lights! As you tour the house, you will set your eyes on over 20 uniquely decorated trees, with elaborate decorations. Enjoy some of their homemade apple cider, cookies, live music, and Santa! There is something fun and festive around every corner, and you will not be disappointed.

Christmas Ship Parade

Over the course of 15, a fleet of Christmas Ships will set sail on the Willamette River and Columbia River. Bundle up, grab your thermos and pick your spot to watch the beautiful boats float by!

 

 

 

 

It is time for the KGW Great Toy Drive!

Benefiting local kids

USAgencies is excited to once again participate in the KGW Great Toy Drive. For more than 30 years, the KGW Great Toy Drive has provided hundreds of thousands of toys to families in Oregon and Southwest Washington.

We invite our members, friends and neighbors to stop by and donate a toy (or toys!) for local families in need. Donate at USAgencies Credit Union by Dec. 14th and we’ll match your donation, toy for toy!

Here’s how it works:

  1. Buy a new, unwrapped toy.
  2. Drop your toy at USAgencies (95 SW Taylor Street, Portland, OR) by Dec. 14th.
  3. USAgencies will match each donation we collect, toy for toy (up to $500)!

Can’t make it to the branch to donate? Give us a call to donate cash towards a toy. We’ll pick one up for you (and match it!).

Questions: info@usacu.org | (503) 275-0300

4 Tips for Preventing Identity Theft During the Holiday

With the help from our friends at cuinsight.com

Some people love taking what doesn’t belong to them. During the holidays this year, be extra careful to make sure that you’re keeping your finances safe from questionable individuals. Here are four tips for protecting your identity during the holiday season.

1. Keep an eye on your credit report. If checking your credit report isn’t something you do regularly, you should change that. If a thief opens an account in your name, this will be an easy red flag to detect. Although it may be a hassle, there are a few sites that provide free credit reports. Do some research and find the one that best suits your needs.

2. Don’t toss it, shred it. When you take your garbage out each week, make sure you are not throwing away that a fraudster could find valuable. Anything that contains account numbers, banking information, or social security numbers would be highly desirable to a thief. Make sure you anything you are not sure of gets put in a shredder before the trash can. Don’t have a shredder? We provide a secure and free shred bin in the lobby of USAgencies Credit Union for all our members! Bring your shred down during business hours, and we are happy to help you safely dispose of documents.

3.Be cautious online. Cybercriminals can get your information a few ways, one of which is phishing. Phishing is when cybercriminals defraud you of sensitive information by posing as a legitimate company that you trust. Don’t click a link in an email that is asking you for personal information. Anything that looks fishy should be verified with the company first. Also, make sure you are not doing sensitive activities like logging into your credit union account from a coffee shop’s unsecured Wi-Fi. Stay up to date with current Fraud Schemes by visiting our dedicated page on our website, designed to keep our members aware.

4.Update your passwords. Password is not a password. Winter123 isn’t either. It is time to make better passwords. Think of a phrase or question like, “How long would it take me to walk 500 miles?” Then use the initials, symbols, and numbers to create your password. That would look like this :”Hlwittw500m?” No one can guess that one. According to howsecureismypassword.net, it would take a computer 63 Thousand years to crack that password.


Questions? Connect with us at 503.275.0300 option 3 or visit us at www.usacu.org

How the Grinch Steals From the Elderly

From our friends at CUinsight.com

As many plan how to get the best holiday deals, thieves also plotting how to exploit the elderly.

According to the Better Business Bureau, seniors are the most targeted demographic for scams and fraud. They range from money transfer and cash for gift card requests, to being named a sweepstakes winner. Efforts particularly ramp up leading into the holidays.

As we head into the holidays, be on alert for a few of these BBB top senior scams. Please share this article with your parents, grandparents or a vulnerable friend or neighbor.

Free trials: Often these pop-up online with promises of a “free trial” asking consumers to provide credit card information “simply to cover shipping fees.” Unfortunately, that leads to unsuspecting victims being charged for products that are part of a program they “enrolled” in. Trying to cancel is often a nightmare.

Charity scams: With so many natural disasters in 2018, who wouldn’t want to open their wallet to help? Retirees have available savings, big hearts and it can be hard to distinguish legitimate causes. Do your research and ask as many questions as possible. Research sites like give.org to see if a charity site is real. Don’t respond to charity solicitations on the phone until you do your homework.

Fake websites: Make sure the website is secure and legit. Scammers have gotten very sophisticated in creating sites that piggyback off the reputation and name of well-known companies. If it’s the first time you are buying from a particular website, check with BBB before sharing any credit card information.

Family emergency scams:  The scammers claim to be calling on behalf of a family member who has been arrested or in an accident. They play on grandparents’ emotions to ask for money to be sent quickly. Don’t be quick to give any financial information or commitment over the phone. After hanging up, reach out to your loved ones to find out if the emergency actually happened.


We want our members to be aware of fraud schemes are out there. Stay up to date with and how to keep safe by visiting our dedicated Fraud Schemes page on our USAgencies Credit Union web page. Questions? Connect with us at 503-275-0300 Option 3 or visit us at our branch at 95 SW Taylor St., Portland, OR 97204.