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A cure for a holiday spending hangover

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

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… Continue Reading

Hope to see you at our Annual Meeting

Hope to see you at our Annual Meeting

Every year, we invite all Compass CCU members to our Annual Meeting. It’s an excellent opportunity to learn more about your credit union and meet our CEO, board members, and staff. You’ll also get an update on the progress of our new branches. Hear a quick review of all the upgrades we put in place… Continue Reading

Home Equity Loan or Line—no appraisal or closing costs

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… Continue Reading

Financial literacy starts here

Financial literacy starts here

As a parent, you instill good moral values and financial guidance in your children. Help your son or daughter toward a secure future by teaching financial responsibility early with a free checking account from the Credit Union. “I wanted to teach my kids how to be financially responsible. I opened a checking with a debit card… Continue Reading

Annual Meeting Recap

Annual Meeting Recap

Our CSFECU Annual Meeting was held on January 25, and we had the privilege of sharing some truly amazing accomplishments from the past year. Here are some highlights: Positive membership growth for the first time in over 14 years. Nationally, credit unions are seeing slow growth, and we are pleased to be bucking the trend with… Continue Reading

New car, better loan

New car, better loan

Auto loan rates – as low as 1.99%* If you’re hoping to start your new year with a new vehicle, we can help make it much more affordable with our new vehicle loans. Up to 84 months with instant pre-approvals so you can shop knowing exactly what you can afford, and not have to haggle with… Continue Reading

A special message from our CEO

A special message from our CEO

A credit union is a unique type of organization. Unlike banks or other types of businesses who can serve anybody, credit unions like CSFECU are granted a charter to serve a specific field of membership—groups of people with a common bond. That bond can be anything from a specific employer(s), to a specific industry, to… Continue Reading

Compass Community Credit Union

PO Box 1268
Eureka, CA 95502-1268

707-443-8662
800-440-8662

NMLS #423538

Federally Insured by NCUA

If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 1-800-440-8662 for assistance.

Compass Community Credit Union

PO Box 1268
Eureka, CA 95502-1268

707-443-8662
800-440-8662

NMLS #423538

CSFECU Top 200

Federally Insured by NCUA

If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 1-800-440-8662 for assistance.