5 Reasons Why You Should Join A Credit Union

Without further ado, here are 5 reasons why you (and everyone you know) should join a credit union (specifically, U.S. Eagle). 

Keep Your Money Local

Yep, keep your money in New Mexico. The majority of credit unions are local. U.S. Eagle was founded in 1935 in a federal building located in downtown Albuquerque. 82 years and nine branches later, we’re still local and, we still have a branch downtown - see our sign atop the tallest building in New Mexico!  We aren't going anywhere, in fact, we are so close to one billion in assets, we can taste it. 

Not-For-Profit, Financial Cooperative

Breakdown: Credit unions use funds to pursue our mission and keep the lights on. Our mission is to improve the financial well-being of each members and the community we serve through trusted relationships. Our members are our owners!  Your voice is heard and your vote counts. Attend our Annual Meeting on the first Wednesday in May to learn more about your credit union.

Community Service

If you follow us on social media or read our newsletter, you know we are big on community. Check out our blog from August and see what we’ve been up to around town. Since most credit unions are local, we do our best to invest in our community. Whether it be through the financial support of a local baseball team, volunteering at a food drive, or hosting a bake sale – we do our best to ensure the success of our community. 

Service

No question is a dumb question. We want our members to succeed and one way we ensure their success is through our personalized service.  You will notice a different experience when you set foot inside a credit union. Our staff greets you warmly when you enter a branch, members can grab some coffee before speaking with their favorite teller, and receive assistance with confidence.

Favorable Rates, Low Fees

You got that right – our rates are favorable, after all, we distribute our profits back to our members through higher returns and lower fees. The fees we do have can be waved with qualifying products. Fees that are charged, are returned back to our members! 

5 Habits To Help You Live Frugally

Check out these 5 tips sure to help you live frugally. How many of these habits do you practice?

1. Coupons

Remember when you were a kid and your Mom would drag you to the grocery store? She’d pull out a big book of papers and sort through them at the register. I would always wonder how much my mom would actually save by using coupons. The notorious “coupon book” actually is a great way to save money. Digital coupons may be a bit handier and greener, but cutting coupons can definitely help you save money during your weekly grocery shopping trip. Check your mail, newspaper, or the internet for coupons that could help you save hundreds annually. Also, make sure you shop around. Some places will price match with what you find in flyers or even online. Groupon also offers some really affordable deals for family fun!

2. Emergency Funds

If you follow along with our blog, you know we are big advocates of emergency savings. I know I sound like a broken record, but experts recommend saving six months’ worth of expenses. You never know what life will throw at you, and you want to be prepared for when it happens. Utilize automated payments, and have funds transferred to your savings account.

3. Buy in Bulk

Buy your groceries in bulk. Head to the nearest Costco or Sam’s Club and purchase your household needs and groceries at a lower price per item than you would at your grocer. If the cost is too much to buy in bulk, split it with a family member or friend.

4. Clean Sweep

Simplify your life. Do a clean sweep of your closet, attic, storage unit, or shed and have a garage sale. Take your gently used clothing to a thrift store and make some extra cash to add to your savings or for a fun night out with the family. Websites like Glyde are great for selling your old electronics that you no longer use! Poshmark is also a great app to sell gently used clothing.

5. Limit Eating Out

You never really know how much you spend eating out or purchasing Starbucks until you start adding up the transactions. For one month, record every time you eat out. You will probably be shocked at the total. Once you pick your jaw up from off of the floor and realize that this is fixable, you can start limiting the amount of times you eat out. Save money by simply bringing lunch to work, brewing coffee at home, or passing up a soft drink and ordering water at your next trip to a restaurant.

For more information on how to take control of your financial wellness, speak with a financial counselor through Balance. A financial counselor will help you avoid or resolve financial distress and establish personal financial control. 

5 Tips for Managing Your Credit Card

Time to talk credit cards. How well do you understand how credit cards work? Check out these 5 helpful tips sure to help you achieve credit card success.

1. Make your payments on time – pay off your balance

Always, always make your credit card payment on time, or even better – pay off your balance in full. If you miss a credit card payment, you’ll be hit with a late fee, and you’ll receive a nice ding to your credit score which could even result in a higher interest rate. Not good. If you tend to be on the forgetful side, use the automated payment feature. Your requested dollar amount will be withdrawn automatically from your bank account before the due date. No one is perfect – if you forget to make your payment, call your credit card company and see if they'll work with you. The worst could happen is they’ll say, “No”.

2. Pay over the minimum – don’t max out your card

If you can afford to pay over the minimum – do it. Even if it’s just ten dollars. This will decrease your credit card utilization. Try not to maintain a balance over 30% of your credit card maximum and never max out your credit card, it could damage your credit score. While you’re holding that new pair of Nikes in the store, ask yourself, “Do I really need a third pair of Nikes?” Probably not. Before making a purchase on your credit card, make sure you determine if it is a want or a need.

3. Ask for a higher limit

If you’ve been making your payments on time and maintaining a low balance, request for a higher limit on your credit card. A higher limit will boost your available credit, resulting in lower utilization.

4. Understand your credit score

Initially, understanding your credit score could be a little bit tricky. It’s important to check your credit score at least once a year. You can check your credit score for free and without penalty on Credit Karma. U.S. Eagle members also have access to Balance - free financial counseling to review debt management and credit scores. Click here to learn more.

5. Shop for a low rate

Make sure you do your research and find a credit card with a low rate. U.S. Eagle has a credit card suite with rates as low as 6.9%! And, don't forget about rewards. U.S. Eagle's Rewards! program allows you to accumulate points that you can redeem for name brand merchandise, travel services and experiences, entertainment and dining, and even gift cards. Find a credit card perfect for your lifestyle. And don't worry - U.S. Eagle has you protected with EMV chip technology which is easy to use, and prevents counterfeit and fraud. 

New Year, New You.

Happy New Year! With a fresh new slate called “2017”, it’s time to plan your new year’s FINANCIAL resolutions. Check out these tips sure to help you improve your financial situation in 2017 and beyond. 

 1. BYOB – Build Your Own Budget. 

Do you even budget, bro? You may think you budget, but there is huge difference between keeping a balance in your head and writing things down. Keeping a monthly budget and noting every single transaction may seem like a tedious task, but it is the only way to fully understand your cash flow. If you’re not a paper and pen type of person, try using a spreadsheet and recording your monthly costs, or use a budgeting app to find out where your money is going. Maintaining this habit will allow you to set goals, adjust your spending, and most importantly, save your money.

 2. Check your credit score. 

Start the year off by checking your credit score. Checking your credit score will allow you to check for identity theft, review your credit history, and understand where you are at for future financial decisions, e.g. applying for a loan. Head to AnnualCreditReport.com and get your free annual credit report from all three reporting bureaus (Equifax, TransUnion, Experian). It will not hurt your credit score and it is free. Not the number you envisioned? Don’t get too discouraged, this is your year to change that. Easy ways to boost your score include paying over the minimum monthly payment, making payments on time, and maintaining low balances.

3. Build your emergency savings. 

Building an emergency savings isn’t a sprint, it’s a marathon, and it is never too late to start. Experts recommend savings up to six months’ worth of expenses. Once you BYOB, you can determine how much you can set aside per month to build your emergency savings. The purpose of an emergency savings fund is to provide back-up in case your car quits, your roof starts leaking, you lose your job, or there’s a health emergency. Don’t wait for something happen; be prepared for when it does happen.

 4. Automatic savings. 

A quick way to save money is to utilize automatic savings. Instead of manually moving money into your 401k or savings account, set up automatic savings. With everything going on in life, sometimes it is easy to forget to move your money from one account to the other. Head to your closest U.S. Eagle branch and set up an automatic withdraw or transfer biweekly, monthly, or quarterly. Watch your savings grow!

 5. Make Extra Income.

If you plan on making a big purchase this year, paying off a large amount of debt, or want to stash some extra cash into savings, making some extra income may be the best option for you. There are so many ways you can make some extra money, it just depends on how much time you have to dedicate and how much you want it. You can go through your closet and sell clothes you no longer wear, pick up a second job as an Uber or Lyft driver, or go outside the box and start blogging. If you live in a large home and have an extra room, consider posting it on AirBnB. Another option is turning a skill set into income. If you’re great at tennis, maybe you can offer lessons on weekends, or if cooking is more your style, offer classes after work! Options are endless.

 2017 is your year for financial success. Before you make a purchase, ask yourself, “Do I really need this pair of shoes?” Challenge yourself! For one month, don’t spend any money on eating out; instead, move it into your savings account. Sometimes, we don’t realize how much money we can save by removing something out of our lives, even if it is temporary. Happy New Year!

The Authentic Difference

 

 

Every third Thursday of October since 1948, credit unions across the globe celebrate International Credit Union Day. For those of you who didn't know credit unions exist on a global scale - now you know. In fact, the first credit union was founded in Germany by Friedrich Raiffeisen. Moving on from my history lesson of the day, International Credit Union Day recognizes the history of the credit union movement and its achievements. This momentous day also celebrates the hard work of those who dedicate their lives to the credit union industry.

 

This year, the theme of International Credit Union Day is "The Authentic Difference". Not to toot our own horn, but there truly is an authentic difference in the credit union industry. Our goal is to serve our members and help them financially succeed. We do this as an organization, and each department has an integral role to make our members' experience as authentic as possible. Here is how some of our employees exhibit the authentic difference in their roles at U.S. Eagle:

 

Meet Theo. Theo has worked for U.S. Eagle for nearly 27 years! Theo was the "SEG Champ" back when the ball first started rolling. "SEG" stands for "Select Employee Group". In order to join U.S. Eagle you had to be a part of a select employee group or a family member of an employee. Theo added hundreds of SEGs so that all their employees and family members could truly experience the authentic credit union difference.

 

  

 

Meet Jeremy. Jeremy has worked for the credit union for almost three years and is one of our biggest cheerleaders! His favorite part of his job is helping people with their financial needs. Jeremy is passionate about the credit union movement and exhibits the authentic difference by providing the right services and products that will fit our members' lifestyles. Jeremy leaves work every day knowing he made a difference in someone's life.

 

 

Meet Patty. Patty has been working for U.S. Eagle for eleven years! Her favorite part about working for the credit union is the impact she has on families. Many families may be in need of guidance concerning financial situations. Her financial knowledge is continually developing and allows her to confidently give members different options that best fit their specific needs. Patty says the best part of learning is that it never stops - tomorrow is an endless day full of possibilities! Patty demonstrates the authentic difference to our members by helping them feel like a person and not a paycheck. She strives to offer them an experience of belonging and is always eager to share our meaningful mantra - "Where Everyone Belongs".

 

 

 

Meet Ina. Ina has been working for U.S. Eagle for nearly five years. Her favorite part about working for a credit union is how our organization lives out the credit union philosophy of "People Helping People". She recognizes how community-centered U.S. Eagle is and appreciates the many opportunities available to commit time to local non-profits. Ina exhibits the authentic difference through her position in human resources by ensuring our internal members are happy and confident in their position which allows better service for our external members. She is a trusted resource, her door is always open, and she commits daily to go above and beyond in her position.

 

Meet Diana. Diana has been lovin' life at U.S. Eagle for almost a year. Her favorite part of her job is interacting with our members and knowing that U.S. Eagle is helping them financially. Diana exhibits the authentic difference in a few ways. Farmington is such a tight knit community and everybody is familiar with one another. This allows Diana to demonstrate authenticity by acknowledging each member by their name and treating them as individual and not just a number. She welcomes them as soon as they walk through the door and treats them with kindness. Through membership interaction, Diana has become more outspoken and enjoys having important conversations with members to ensure their financial success.

 

Stop by any branch on Thursday, October 20th from 11:00 a.m. - 1:00 p.m. and celebrate International Credit Union Day with U.S.!

 

 

 

 

Beware of Fraudsters

Have you ever received an email from a random individual offering you a job, and even better – advance pay before you have even interviewed? What about receiving a message from someone who claims they are romantically interested in you and within days requests to deposit a check into your account with the promise to designate a portion of the cash to you?  Have you ever heard the saying, “If it’s too good to be true, it probably is”? Well that applies to these scenarios.

Recently, our Fraud Department has noticed an influx of our members falling prey to scams like these. Let me break down these two scenarios a little bit better.

Scenario 1: At some point in the past year or so, you have posted your resume on a job search engine. One day, you receive a job offer sent to your personal email describing a position the “employer” is pretty much giving to you with the promise of a paycheck before you even start. All you have to do is send your account information and you’re set! Should you send any of your information? NO. In fact, you should block the sender and report the email as spam.

Scenario 2: You have recently started online dating. After exchanging some messages with a promising contender for your heart, they ask if they can deposit a check into your account. Even better – since you two are exclusive, they want to provide you with some money for the trouble and have offered to deposit the check on their end using RDC (remote deposit capture). You agree and send them your login information. They download the app on their mobile device, deposit the check, and boom – your balance increases $5,000.  All you have to do is head to the credit union and withdraw the amount they want you to send to them. The things we do for love!

Both of these situations have one thing in common – you never meet the person on the receiving end. You never meet your “employer” nor do you ever meet your new “crush”. In the end, you’re the one with the negative balance in your account, and your information is in the hands of a scammer somewhere in the world.

So, what can you do to avoid these types of situations? Never give out any of your account information or personal information.  Stop all communication with the fraudster – they will be very persistent. These scams are common no matter what age you are. If you find yourself in a similar situation, please call our Fraud Department immediately at 505-342-8871.

Money Management vs. the Pythagorean Theorem

Growing up, kids and teens learn about the Pythagorean Theorem, ionic compounds, and how to diagram compound sentences. But after they finish school, do they actually remember all the information surrounding these topics? Maybe. How about actually applying these skills in the real world? Eh, probably not. Don’t get me wrong, the Pythagorean Theorem is great. I can’t say I have done much with it since I learned it back in middle school, but I am sure there are people out there that really enjoy solving problems using the Pythagorean. And, yes, I had to look up the spelling of that word. I think I am getting a little bit off topic. Back to financial literacy. So, why aren’t we teaching our children and teenagers how to balance their checkbook or how to manage their credit score - both skills that will last a lifetime. Most people apply these skills daily, and at least monthly.  Why don’t we teach our youth basic money management skills?

I know that first paragraph was kind of a downer, but there is good news. Your credit union (us, U.S. Eagle) tries to actively fix this problem to the best of our ability. We do this through financial literacy. We go into schools and organizations and actually talk with our youth about budgeting, understating credit, saving money, and more. We discuss these topics in their classrooms and engage them in conversation to help them learn about these basic financial concepts.

Now, my personal favorite financial literacy tool is “Mad City Money”. Kids love this game, as well as parents and you’ll see why. Mad City Money is a simulation that gives kids a taste of the real world. They have a family, bills, and a steady income. Participants must decide where they are going to live, how they are going to commute, what they are going to eat, and much more. They discover how much internet costs, how expensive groceries and eating out can be, and…how much diapers cost! I find parents who participate in this game sometimes enjoy it more than their kids…

Through these presentations and simulations, our youth are learning more about these important financial topics. They are engaged and they are having fun. This is one way we hold true to the credit union philosophy of “People Helping People”.  We encourage parents to bring in their kids or teens and teach them about the importance of saving their money in a savings account. Even if it just $5.00 per month. Getting into the habit of saving at a young age can really pay off in the long run.

 

If you are interested in facilitating financial literacy at your school or organization, please call Danielle at 505-342-8875.

 

 

12 Ways to Spend $1,000

Imagine $1,000 falls into your lap. How would you spend it? Or would you save it? Here are some ideas on what you should do with that extra cash.

Kick Debt Out the Door.

Take the responsible option and get rid of that $865 balance remaining on your credit card. This option may not be the most adventurous route, but it will definitely be a weight off your shoulders. It could also add an extra $50 to your monthly disposable income and you can say "Good-bye" to interest.

700/300

Ever heard of the 700/300 ratio? Me either, but this option may work the best for you. Pay off some debt with $700 and have some fun with $300; a conservative approach with a spin.

Upgrade Your Wardrobe.

This may be a great opportunity for you to upgrade your wardrobe. Maybe purchase a new suit or that new purse you’ve been eyeing at your favorite high-end store. A new suit or new purse are style staples and can also come in handy when you need to look professional.

Quick Getaway, Anyone?

Sometimes we just need a break to relax, recharge, and getaway. Use $1,000 for exactly this. Purchase a roundtrip flight, or gas up your car and head towards that destination you’ve always wanted to visit. Spend a couple nights in a hotel, experience the culture, eat some delicious food, and then make your way back home.

Save, Save, SAVE!

Some people may consider this a less exciting option, but for those who want to play it safe – invest your $1,000 in a money market account or share certificate. Make that  money work for you!
 

Electronic Upgrade, Please!

It seems like every day there is a new upgrade available for your laptop or your cell phone. Maybe it’s time to upgrade your computer. If it weighs over five pounds, then it’s time to get rid of that desktop still using dial-up and invest in a new laptop. Upgrading your cell phone to the latest and greatest is always useful and, well, fun! Our society uses and relies on mobile devices more and more every day. You can make purchases by paying with your phone, find your location within seconds, or take a photo - all on your 5in x 3in device. It’s a good idea to invest in something so present and usable in today’s age.

Save It for that Unexpected Expense that WILL Come Up Next Month.

This seems to always happen. You get some extra money, spend it, and then shortly after you conveniently get a flat tire. Well, say “NO” to that unexpected expense by saving your spare $1,000. When you find yourself at the dentist with a $500 bill, okay let’s be real, a $900 bill, guess what? You can cover that no prob. Be prepared for these situations that conveniently hit you at the most inconvenient times.

Redecorating; Hello New Walk-In Closet!

Tired of staring at that old couch? Are your wooden floors starting to look like potential firewood? Time to consider a mini-home remodel! Use your extra $1,000 to do some spring cleaning around your house. Maybe organize your closet, hire someone to shampoo your carpets, replace some old furniture, or hire a landscaper to make your backyard a jungle of beautiful vegetation. Did we hear some say, "Pool Day"?

Continuing Education.

Dust off your thinking cap and enroll in some classes to further your skillset. Maybe learn a new language, improve your graphic design skills, or take some cooking classes. Improve yourself mentally by taking on a new challenge.

Healthy YOU!

Take advantage of your extra cash by hiring a personal trainer or joining a gym. Gyms can be on the expensive side, add a personal trainer and a new diet and watch that total grow. Clean up your diet by purchasing organic or shopping at your local grower’s market. Your body will thank you!

Donate.

Give your extra cash to a charitable organization of your choice. The money will be much appreciated and you’ll feel good knowing you contributed to a worthy cause. Go all out and donate some of your time too!

Invest in a New Hobby.

 

Always wanted to learn pottery? Maybe gardening is more up your alley? Well the moment you’ve been waiting for is here – take on a new hobby with your spare cash. Escape your daily routine by cycling through the mountains or canoeing down the nearest river.


There are a lot of ways to spend $1,000. Just remember to weigh out the pros and cons, and make a decision that is right for you and your financial situation.

Vacay Without Breaking the Bank!

Summer is almost here which means a vacation is in order. How do we go about planning a vacation without breaking the bank? Here are some ideas:

1. ROAD TRIP! Gather the family (or friends) and hit the road. Make a stop at the Grand Canyon or Elitch Gardens and spend some time in nature or touring some shops and museums. Quality time with the fam or your closest pals is always a fun time.

2. Use Airbnb! For those of you who don't know, Airbnb connects people to unique travel experiences, at any price point, in more than 34,000 cities and 191 countries! Talk about some options. If you're home for the summer and looking to make some extra cash, put that spare bedroom on Airbnb and earn some money.

3.  Tour New Mexico. New Mexico is beautiful and if you like the outdoors, then you're in luck because you have a lot of options. White Sands, Santa Rosa Blue Hole, Carlsbad Caverns, camping in Ruidoso, zip-lining in Angel Fire...the list really goes on...be a local tourist!

4. STAY-cation. Yes, this is a thing and it's pretty fun. Here's the idea- you stay at home, but you act like you're on vacation which means no work, eating junk food, going to the pool, shopping, and watching movies until 2am. Affordable, yet still a vacation.

5. Camping. Grab your cooler and fill it with hotdogs, marshmallows - the necessities, and head for the mountains. Set up your tent, lay out your sleep bag, and tell your best spooky story. Camping is affordable and away from the city, so you still get that vacation-feel with the plus of nature for the weekend.

Summer is right around the corner, so remember, you can still vacay without spending thousands of dollars. A vacation can be a tent in the backyard or a movie marathon in your living room. Just remember to take some time off, relax, and maybe spend some quality time with your loved ones or pet!

New Year's Financial Resolutions

It’s that time of year again - time to pencil down your New Year’s Resolutions. According to Statisticbrain.com, “Spending less and saving more” is in the top three New Year’s resolutions in 2015. We are here to help! Although New Year’s resolutions may seem cliché or redundant, they don’t have to be. Resolutions can be a great way to start off the year with a fresh goal in mind. U.S. Eagle has some ideas to help you accomplish your financial resolution – Spend Less, Save More!

The first thing on the list is to create a budget.  How many of our readers budget already? If not, that’s okay – it’s never too late to start! According to Balancepro.net, a  good rule of thumb is to balance your budget using the following breakdown: 35% housing, 15% debt, 15% transportation, 10% savings, 25% other. Check out your checking account and divvy up your expenses under these categories…it’s surprising how much money we can spend in one month on coffee or eating out. Identify where you overspend. You may overspend on something and not even notice. Keeping track of your transactions allows you to be conscious of every purchase and constantly aware of your balance.  Once you have created a budget, find ways to make sure you stick to it! Some suggestions we offer are: direct deposit, manually balancing your checkbook (not relying on online banking), and setting a goal amount to have in your savings account at the end of the year.

Another financial goal that will never go out of style is improving your credit score. Wallethub.com cites that “…the annual difference in cost between good and bad credit is roughly $650 in credit card payments, $1,400 on your auto loan and $2,300 on a mortgage.” That’s a lot of money you could be saving! Keep in mind that debt is not always a bad thing; in fact, it is necessary to build credit. One way to improve your credit score is to maintain a credit card responsibly. Use the credit card and make your payments on time or pay off the balance monthly. This will report positive information to credit bureaus each month. If you’re in trouble with your credit score, U.S. Eagle offers a Credit Builder Credit Card to help you get back on your feet!

Our third financial resolution is to build an emergency fund. Unexpected expenses happen and we need to be prepared for when that time comes. What’s a good amount to have in savings? Six months’ worth of expenses is a good starting point. Calculate how much money you spend every month on your mortgage or rent, car payments, insurances, gas, groceries, etc. and multiply this amount times six. Create your emergency fund based on that number. We encourage you to save a little more than six months’ worth of expenses, but this will take time.

Our fourth financial resolution recommendation is to utilize automated payments. Avoid missing those due dates by scheduling payments to come out of your account automatically. Missing a payment usually results in a late fee, damage to your credit score, and lastly, a phone call to the company asking for mercy for about thirty minutes. If you don’t like automated payments, set up reminders. These alerts will notify you when a payment is approaching.

Our last financial resolution for 2016 is to make financial literacy a priority for you and your family. In a 2015 survey by Stanford & Poor’s, the United States ranked 14^th globally for financial literacy. We need to work together to improve our understanding of managing money starting with our youth.  The internet is a great resource to find information about budgeting, your credit score, saving, and more. U.S. Eagle offers free financial literacy for youth. We also offer free and confidential financial counseling and education through Balance. If you have any questions, come visit one of our friendly staff members who are more than willing to assist you. Remember, our mission at U.S. Eagle is to “Improve the financial well-being of each member and the communities we serve through trusted relationships.”

A Day in the Life of the Fraud Department…

Fast Facts:

- U.S. Eagle is the only Credit Union in the state with a dedicated, local Fraud Department
- Our Fraud Department has been safeguarding member information since 2008
- Our Fraud Department consists of three individuals who are constantly on the lookout for thieves trying to steal from our members

Q&A with Tina in our Fraud Department!

I wanted to put the spotlight on our Fraud Department for a month and let everyone know hard they work to protect our members. Today, we will be speaking with Tina who is our Lead Fraud Investigator. She has been an employee at U.S. Eagle for seventeen years and has been handling fraud claims for fifteen years. Let’s hear what she has to say about fraud!

Q: What does a typical day look like for the Lead Fraud Investigator?

Tina: Well, the main things I deal with on a daily basis are: check card disputes, speaking with members affected by fraud, and working with local law enforcement to prevent financial crime.

Q: What is your favorite part about working in the Fraud Department?

Tina: Helping our members who have fallen victim to fraud. I immediately seek to remedy the situation as well as educate them on how to prevent these awful scenarios from happening again. My goal is to turn a negative beginning into a positive ending.

Q: What is the most common type of fraud?

Tina: The most common type of fraud is check card fraud. Comprises of large corporations have really caused some members a lot of stress. My goal is take this stress away! Due to these compromises, our member’s card information is basically available online. Their card numbers can be purchased by thieves on the black market. Once purchased, the culprits will create a copy of the card and use it to make purchases.

Q: How will members know if their card is being compromised?

Tina: Members will notice purchases they did not make. Once they see these transactions take place, they should call us immediately to close their card. We will have them come down to any of our branches, fill out some paperwork and we will solve the issue as quickly as possible. Our call center may also provide assistance with fraud disputes as well. We will also reimburse the member the amount that was stolen from their account. In the end, U.S. Eagle actually becomes the victim because we will always reimburse our members.

Q: What’s a new type of fraud that you are witnessing?

Tina: Mail theft. Mail theft consists of thieves stealing physical checks from mailboxes. Once a check is in their possession, they steal the identity of our member, and cash checks. For example, let’s say a member pays their electric bill using a check and places the check in the mail. A thief will come to the mailbox, steal the check, create a driver’s license and a fictitious check using the information on the check, and go to a drive thru and attempt to cash or deposit the check.

Q: How can our members prevent fraudulent activity?

Tina: Members can protect themselves from fraud in a few ways. I recommend pulling your credit report once a year – it’s free and allows you to be aware of any suspicious activity that could potentially take place. Another way is utilizing online banking. Checking your account regularly ensures that the transactions are valid and that there is no suspicious activity taking place. Lastly, stay up to date with current events and maintain a healthy knowledge of potential fraudulent activity that could happen to anyone.

Q: Any last words of advice for our readers?

Tina: If you ever think you are a victim of fraud and or your account has been compromised always know that U.S. Eagle Federal Credit Union has a local fraud department that is here for you. The Fraud Department can be reached at 505-342-8871.

 

5 Tips for the First Time Car Buyer

Congratulations! You’ve just graduated college. You landed a great entry level position making a salary of $33k. You live in an apartment with a friend from college. Life is good. You look outside your window and your beat-up old car with nearly 200,000 miles stares back at you. Driving to work every day is risky business as you anticipate the breakdown of your beloved first car from Mom and Dad. Now is the time to think about your first large purchase – a new vehicle. Whether you’re starting a new job or starting a new college class – car buying can be tricky. Before traveling down the road of car buying, safeguard yourself using these tips and tricks!


1. Get pre-qualified.
Now that you’re on your own, more expenses will occur. Know how much you can afford before purchasing a vehicle. Representatives at your local Credit Union can assist you with getting pre-qualified. This gives you an advantage because you know what vehicle you can afford and decreases the chance of overspending on a vehicle. The bigger the down payment the better! Why? This decreases your monthly payment and allows you to budget accordingly. If you do not have enough credit established, you may need a co-signer. A co-signer can be anyone with a good credit score, but typically your parents or other family will be able to sign on the loan. The average car loan is generally five to six years; the longer the loan period, the more you will pay in interest.


2. Prepare yourself and do your homework.
Before walking into a dealership, make sure you are prepared and have an idea of what you can afford and what type of vehicle you need. Do not rely on a salesman to educate you about their business. A salesman wants to make money, not save you money. Vehicles that are reliable, have great gas mileage, and fit into your budget seem like the obvious choice. The internet has an unlimited amount of resources available at your fingertips! Plan ahead before purchasing and take into account your current financial situation. Don’t forget to add in car insurance! Anticipate expenses that will accompany your new vehicle purchase such as: monthly car payment, insurance, gas, and any maintenance fees.


3. Take someone with you.
Just like you wouldn’t jump out of an airplane for the first time solo, it’s wise to take someone with car buying smarts along for your first vehicle purchase. An experienced car buyer can help you avoid the traps first time car buyers fall into.


4. New or used?
Getting pre-qualified will help you determine whether or not you can afford to purchase a new vehicle. A car or truck with some mileage is not a bad decision, especially when purchasing your first vehicle. If you are interested in purchasing a used vehicle, it is wise to take the car or truck to a mechanic for a second opinion. Do your due diligence and make sure you are getting the best deal for your money.


5. Have fun!
Buying a car or truck for the first time may seem like a stressful scenario, but it is an exciting opportunity to learn about an important process and come out with a sweet ride in the end! Do not forget to take your potential new vehicle for a spin! Get behind the wheel and make sure you like the way it drives. There are hundreds and hundreds of vehicles out there, pick the one that’s right for you and won’t break the bank.

Credit Unions Rock - Here's Why

Credit Unions Rock – Here’s Why:

I’ve been a member of U.S. Eagle Federal Credit Union since I was just a little Coyote Kid. Back when I joined at the ripe age of ten years old, I had absolutely no idea just how much Credit Unions rocked. Now that I am an adult, I know how Credit Unions, in particular U.S. Eagle, can help me and you achieve our financial goals.

5 reasons why you shouldn’t join a credit union:

1. If you do not like saving money, RUN.
2. If you do not like working with a local business that maintains a heavy community footprint, RUN.
3. If you do not like walking into your financial institution where friendly faces greet you, RUN.
4. If you like high interest rates and low returns on investments (dividends), RUN.
5. Lastly, if you do not like having a say in the way your money is handled, RUN.

It’s a pretty simple concept – Credit Unions really do rock.

Typically, a savings account and checking account at almost every Credit Union is free. That’s right – free. Once you open a savings account, you’re now officially a member. I like to think of Credit Unions as clubs. You’re a member of a club where your voice is heard and you decide how things go – you’re the boss. Depending on where you are employed or what organizations you are involved in will determine whether or not you can join a Credit Union. Fortunately at U.S. Eagle, everyone can join! Oh, and did I mention our savings accounts and checking accounts are free?

One of my absolute favorite things about U.S. Eagle is our huge community footprint. I have worked here for nearly a year and I am still discovering different organizations we support. The best part? Employees have the opportunity to contribute their time to charitable organizations. For example, U.S. Eagle has signups for employees to volunteer their time at Rio Grande Food Project, Casa Esperanza, and Meals on Wheels. We also have a whole committee dedicated to community involvement called, “Community Involvement Committee”. The purpose of this committee is to plan different fundraising events, discover organizations to sponsor, and assist with community service related projects.

I can think of some pretty important relationships I have made throughout my young life. One relationship that I have found essential is a good relationship with the individual who handles my money. When I started working at U.S. Eagle, I visited different branches to acclimate myself to the company. Staff that had helped with my finances at some point throughout my U.S. Eagle membership still remembered me! U.S. Eagle employees do their best to help you succeed financially. You will always find a friendly face more than willing to assist you.

Credit Unions are not-for-profit. This means that we do not operate with the intention of bringing in the dough. We return what profit we do make to our members through low interest rates on loans and credit cards, and higher returns on your investments. Score!

Guess what? We have some good news! Once you’re a member at U.S. Eagle you call the shots. How?

1. Volunteer and be elected to our Board of Directors
2. Attend our Annual Meeting and have your voice heard

Our Board of Directors work on a volunteer-basis. They are not compensated for their time and dedication to the Credit Union. They have monthly meetings where they discuss the state of the Credit Union and how we as a Credit Union can exceed our members expectations.  Once a year, we hold an Annual Meeting and invite all our members. This meeting is intended to address the questions and concerns of our members.

So why hasn’t everyone joined a Credit Union? Good question. Maybe people like paying fees and watching the banks profit. Plus, a lot of people don’t know just how great a Credit Union can be. Truth is that we aren’t just great, we rock.