Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
CU halfway to 1M community challenge goal
TINTON FALLS, N.J. (8/30/12)--United Teletech Financial (UTF) FCU's Million Dollar Community Challenge (MDCC) has surpassed the half-way mark to its $1 million interest savings goal.

The Tinton Falls, N.J.-based credit union hopes to save community members $1 million in interest expense this summer. The program, which runs through Sept. 29, has saved more than $644,000 so far, according to the New Jersey Credit Union League (The Daily Exchange Aug. 29).

Since the inaugural MDCC in 2011, community members have saved more than $2.5 million in interest expense. This year, more than 125 members participated in the challenge.

The program allows members to save in two ways:  the TimeShifter Mortgage loan and the Cut The Card personal loan. The TimeShifter mortgage can reduce mortgage terms, potentially saving the consumer thousands in interest expense. The Cut the Card loan helps individuals consolidate personal or credit card debt at a lower interest rate than offered by many card companies. Its fixed-rate payment plan lowers interest while increasing cash flow.

Also, once the $1 million milestone is reached, UTF will made donations to four local charities. Donations will be based on the percentage of total interest saved, and members can select which charity receives the donation once the loan is closed. The public also can vote for a People's Choice winner online at JerseySaves.org.  The charity receiving the most votes will receive an additional $500 donation.


RSS





print
News Now LiveWire
April is #NationalFinancialLiteracyMonth & @TheNCUA Chair Matz urges #creditunions to help members learn to manage/protect their finances.
59 minutes ago
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
2 hours ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
4 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
4 hours ago
.@PCISSC issues new pen test guidelines for businesses to identify network vulnerabilities @CUinfosecurity http://t.co/ENeGTPSMjf
6 hours ago