Author: Compass Community Credit Union Compass CCU

We are getting close. Effective June 10, 2019, the branch at 321 Wabash Avenue will be relocating to 2861 E Street. As of this date, the Wabash location will no longer be handling member transactions.

Henderson Center Branch Update

25D3BE2C-3FC6-4CE5-9DB1-4CA7E3B2C362We are getting close. Effective June 10, 2019, the branch at 321 Wabash Avenue will be relocating to 2861 E Street. As of this date, the Wabash location will no longer be handling member transactions.

Arcata Update

Construction on the Arcata branch is moving along. We expect the work to be completed in the next few weeks and will keep you informed on the progress.

A cure for a holiday spending hangover

If you’re like most people, celebrating the holidays didn’t just make your waistline a little bigger; it made your credit card balances bigger, too.

While we don’t have any suggestions for the waistline, we do have a simple method that can help reduce those bulging credit card balances and pay them off quicker.

First, gather up all your credit card bills and compare the interest rates you’re paying on each card. The one with the highest rate is the one you should pay off first.

Starting with your next payment, only pay the minimum amount due on all your credit cards — except the one with the highest interest rate. For that one, pay as much over the minimum as you can. If your minimum payment on that card is $25 try paying double, or triple that amount each month. The more you pay, the quicker this card will be paid off.

Then once that card is paid off, take all the money you were paying towards that balance and add it to the amount you’re paying on the card with the next highest interest rate. So if you were paying $75 on the first card and $25 on all your other cards, add that $75 to the $25 you’re paying on the next card. Now, instead of just paying the $25 minimum, you would pay $100.

Then once that card is paid off take everything you’re paying on that card and add it to the next card. Continue doing this until you pay all your balances off.

To help pay down your credit card debt faster, try to not put any new purchases on them. Use your debit card or cash instead. Also, try to cut down on the number of cards you use to just two or three. And don’t keep a balance on either card that’s more than 10% of the card’s credit limit. This will help improve your credit rating.

Arcata Branch Update

Construction on the Arcata branch has finally begun and we are excited to see the changes take place. We expect the opening to be sometime in the first quarter of 2019 and will keep you posted. This new branch will be located at 1033 G Street (across from the Arcata Theatre Lounge). Keep an eye out for our grand opening.

 

Home Equity Loan or Line—no appraisal or closing costs

Need cash for home improvements or another important use? There’s never been a better time! We are covering the appraisal fee and closing costs when you open a Home Equity Loan or Line with us.[1]

Home Equity Loan

Term: 15 years  |  Rate: 6.50% / 6.51%APR[2]

 

Home Equity Line of Credit

Term: 7-year draw; 22-year repay  |  Variable Rate[3]: as low as 4.25% APR

Call us today at 800-440-8662.

[1] Appraisal fee and closing costs are waived with a minimum draw amount of $20,000. Loan or credit line must be open for a minimum of 3 years. Loan or credit line closed prior to 3 years of the open date is subject to reimbursement of all original waived fees and will be added to the payoff balance.
[2] APR – Annual Percentage Rate.
[3] Variable Rate: Variable adjusts every January 1st and July 1st. Index is the 1 Year-Treasury Bill plus a 1.75% margin rounded up to the nearest quarter percent. Maximum change per change date is 1.00%. Maximum cap is 9.75% APR. Payments are amortized over 22 years or $100, whichever is greater. Rates and terms effective 06/11/2018. 80% of appraised value less balance of First Mortgage. All rates apply to owner-occupied, single family dwellings located in the state of California. The APR is based on a loan amount of $100,000. Loan approval subject to credit, income and property appraisal. Rate is not locked until final loan approval. All terms and conditions are subject to change without notice. Call representative for additional details at 800-440-8662.

Mobile Check Deposit—anytime, anywhere convenience and security

As much as we love to see you, we know you have better things to do with your time than visit us to deposit a check. Now with Mobile Deposit you can deposit checks anytime, anywhere. It’s simple:

  1. Endorse the check.
  2. Launch the Mobile Banking app and tap the “Deposit Check” icon.
  3. The app will walk you through entering the amount of the check and taking a photo of the front and back.
  4. Tap “Submit,” and you’re good to go!
  5. You’ll receive a confirmation message.
  6. Now you can get on with more important things!

Your funds will be available usually within one business day, and there are no fees or charges. It’s fast, free and easy!

Mobile Deposit is available through our Mobile Banking app, so if you haven’t downloaded it, now is the ideal time.

Download the Compass CCU (formerly CSFECU) Mobile Banking app

App Store   google-play-badge

iPhone®: Must download mobile banking app on the App Store℠ and have an online banking account with Compass Community Credit Union. Requires iPhone® with iOS 5.0 or above. Apple®, the Apple logo, iPhone® and iPad® are trademarks of Apple, Inc., registered in the U.S. and other countries. App Store℠ is a service mark of Apple, Inc.
Android™: Must download mobile banking app on Google Play™ and have an online banking account with Compass Community Credit Union. Requires Android 2.1 or above. Android is a trademark of Google, Inc. Use of this trademark is subject to Google Permissions.

In short, a credit union is a cooperative financial institution where people work together to make everyone’s lives better. Everyone who has an account here is a member. And every member is an owner.

Rather than making profits to send to far-off shareholders, Compass CCU reinvests in our credit union. Which means we reinvest in YOU. That’s why we say that, at Compass Community Credit Union, we guide you to better banking.