There’s a saying in the credit union world: “Not for profit, not for charity, but for service.” At University Credit Union (UCU), this isn’t just a motto—it’s our identity. We were founded to serve people who needed a better way to bank: university students, alumni, faculty, staff, and their families. People looking for fairness, honesty, and financial services that put people ahead of profits. 

That’s why we’re raising our voices, because right now, the future of credit unions is being questioned in Washington. And what may seem like a political debate about taxes is really a conversation about whether your credit union can continue to serve you the way it was intended to. 

Some lawmakers and special interest groups have revived an old argument: that credit unions should be taxed like for-profit banks. They claim we’ve outgrown our mission, that we’ve become “bank-like,” and that our exemption from federal corporate income tax is unfair. Watch this video to learn more about the situation.

But here’s what they leave out 

Credit unions like UCU do pay taxes. We pay property taxes, payroll taxes, sales taxes, and more. Our employees pay income taxes just like everyone else. The only exemption we have is from paying federal corporate income tax, and that exemption is intentional, granted by Congress in 1937 to recognize that credit unions exist to serve people, not shareholders. 

We are financial cooperatives, owned by our members. Every dollar of income we earn is returned to our members through lower loan rates, higher savings yields, personalized financial education, and community impact programs. We don’t cut checks to Wall Street investors; we don’t make decisions based on quarterly earnings; and we certainly don’t exist to compete with banks…we exist to give people a better option. 

Removing our tax status would fundamentally change that. It would take dollars away from the very people we’re here to serve—you, our members—and redirect them to Washington. It would make it harder for us to do what we do best: help you thrive financially. 

This issue isn’t abstract or hypothetical. It’s real, and it would directly impact every program, every service, and every member experience at UCU. 

Think about the last time we helped you refinance your auto loan to save money each month. Think about the first-time homebuyer who got into their new home with our help and guidance. Think about the campus workshops we’ve hosted on budgeting, credit building, or student loan repayment. Think about our commitment to one-on-one service, no matter how big or small your need. 

These are not extras, they’re core to who we are. But if we were taxed like a for-profit bank, we’d have to start making choices. Fewer community programs. Higher loan rates. Fewer staff dedicated to financial wellness. Less investment in the tools and technologies that make banking easy and personal. 

In short, you would feel the difference. 

This debate also comes at a time when Americans are more financially stretched than ever. Students are graduating with more debt. Families are paying more for housing. Emergency savings are low, and financial stress is high. At a time like this, we should be expanding access to affordable, people-first financial services, not undermining the institutions that provide them. 

Credit unions were created to fill the gaps traditional banks often leave behind. That’s as true today as it was during the Great Depression. Taxing credit unions isn’t about fairness; it’s about weakening one of the few financial models left that truly exists to serve people over profit. 

UCU serves thousands of members across California, Georgia, and Texas, but we’re part of a larger movement. Credit unions nationwide are speaking up, and we’re asking our members to do the same. 

What you can do for credit unions 

This isn’t just our fight. It’s yours, too. If you’ve ever benefited from lower loan rates, flexible service, or financial education from UCU, now’s the time to help protect it. 

Please visit www.donttaxmycreditunion.org to learn more. The site makes it easy to send a message to your elected officials—letting them know that you value your credit union, and that you want to preserve its ability to serve people, not profits. 

It takes less than five minutes to make your voice heard, but it can have a lasting impact. When members speak together, policymakers listen. 

Don’t let Congress rewrite the rules that make credit unions like UCU possible. Don’t let a movement built on service be treated like a profit-driven corporation. And don’t let your voice go unheard. 

Together, we can protect your credit union—and keep our mission alive. 

Steer your finances with smarter auto buying and refinancing

There's something thrilling about the open road; windows down, your favorite playlist on repeat, and a vehicle that feels like it truly fits you. But before you get to that sweet spot, there's one stretch of road most of us dread navigating: financing. Whether you're car shopping for the first time, trading up for more space, or trying to get better terms on your current loan, making smart financial decisions can be the difference between smooth cruising and a financial speed bump.

That's why at University Credit Union (UCU), we believe auto buying and refinancing should come with a roadmap, not just paperwork. And it should be a little more exciting than scrolling through lender rates or deciphering dealership lingo. Let's break it down so you can steer your finances with confidence.

So, you're ready to buy a car

Maybe you're eyeing that hybrid SUV for weekend getaways. Or maybe your trusty sedan has become a little too vintage. Either way, the car buying process starts long before you set foot on a lot. It starts with understanding how your finances fuel your options.

Getting pre-approved isn't just a box to check—it's your financial green light. It gives you a clear sense of what you can afford, strengthens your negotiating power, and keeps you grounded when a sales rep tries to steer you toward something... shinier (and pricier) than you planned.

And yes, it matters where you get your financing. Dealerships might offer convenience, but convenience sometimes comes at a cost; think marked-up interest rates and limited options. UCU offers competitive auto loan rates with zero-pressure guidance, and because we're member-owned, we're always on your side. Plus, we can help you understand the full picture, from monthly payments to total loan costs, before you even take a test drive.

Already have a loan? Refinancing could be a game-changer

Here's a fun fact that rarely makes it into car commercials: your auto loan isn't set in stone. Refinancing can be a savvy move that helps you lower your interest rate, reduce your monthly payments, or even pay off your car faster. Think of it like trading in your old loan for a better one…no new car necessary.

Maybe you financed your vehicle when rates were higher, or maybe your credit has improved since then. Or perhaps your budget's just tighter than it used to be and you're looking to free up some breathing room. Whatever your situation, refinancing with UCU means working with people who care more about your financial goals than about your FICO score.

Not to mention, it's not as complicated as you might think. We'll help you crunch the numbers and figure out if refinancing makes sense for you. Spoiler alert! In many cases, it does.

Don't skip the auto buying “extras”—They're there for a reason

When you're deep in the paperwork jungle, it's tempting to breeze past all the extras like warranties, Guaranteed Asset Protection (GAP) insurance, Mechanical Breakdown Protection (MBP), etc. But these aren't just “nice to haves.” They can save you thousands if something goes wrong.

GAP insurance, for example, covers the difference between what your car is worth and what you still owe on your loan if your car is totaled or stolen. Without it, you could end up making payments on a car you no longer have. And warranties? They're peace of mind in the form of coverage and are especially helpful if your vehicle is used or nearing the end of its original manufacturer's warranty.

The trick is to get these products from a trusted source, not just the first offer tossed your way in the dealership finance office. We offer affordable protection options right here at UCU, with transparent pricing and no hard sell.

Pitfalls to dodge on the road to smarter auto financing

Here's where things can go off-track. Without the right prep, you might get talked into a longer loan term that lowers your monthly payment but costs you thousands more in interest. Or you might forget to factor in things like taxes, registration, and insurance…yeah, oops.

There's also the classic trade-in trap. Know your car's value before you walk in, so you don't get lowballed. And if a deal feels too good to be true, it probably comes with hidden fees or fine print that'll catch up with you later.

Slow down, ask questions, and remember, just because someone is wearing a suit and holding a clipboard doesn't mean they have your best interest at heart. But we do.

Where UCU comes in

UCU offers more than just loans. We offer support, strategy, and straight-up good advice. Our certified financial counselors (CCUFC) are here to talk through your options, answer your questions, and make sure your car financing journey is as stress-free as possible. Oh, and because we're a not-for-profit financial cooperative, our goal isn't to sell you something—it's to help you succeed financially.

Whether you're picking out your dream car or simply want to tune up your loan terms, we're ready when you are. Let's make your next move a smart one.

Ready to get started? Visit ucu.org/loans/vehicle-loans to learn more, run the numbers, apply, or connect with a CCUFC who's ready to ride shotgun on your financial journey.

Because when it comes to auto financing, you should be in the driver's seat.

For many, student loan debt can feel like a heavy burden, a constant shadow over financial aspirations. But what if there was a way to reshape that burden, to transform it into a manageable step on your journey? Student loan refinancing is a powerful tool that can significantly improve your financial well-being. At University Credit Union, our mission is to "Empower You" with the knowledge and tools to take charge.

Why consider student loan refinancing?

The financial landscape is always evolving, and 2025 presents its own unique opportunities for student borrowers. With potential shifts in interest rates and continued competition among lenders, refinancing can be particularly beneficial. Whether you're looking to lower your monthly payments, reduce your total interest paid, or simplify your financial life, understanding the current climate is key.

How student loan refinancing empowers your finances:

Refinancing isn't just about changing lenders; it's about actively taking steps to gain control. Here’s how it can "Empower You":

• Lowering your monthly payments: One of the most immediate benefits is potentially reducing your monthly payment. This frees up valuable cash flow, allowing you to allocate funds to other financial goals like building an emergency fund, saving for a down payment, or simply enjoying more breathing room in your budget.
• Reducing total interest paid: If you qualify for a lower interest rate, refinancing can significantly decrease the total amount of interest you'll pay over the life of the loan. Even a seemingly small drop in your interest rate can translate to thousands of dollars saved.
• Simplifying payments: Juggling multiple student loan payments with different lenders, due dates, and interest rates can be overwhelming. Refinancing allows you to consolidate all your private (and sometimes federal) student loans into a single, manageable loan with one payment and one interest rate. This simplification can reduce stress and make budgeting much easier.
• Changing loan terms: Refinancing gives you the flexibility to adjust your loan term. You might choose a shorter term to pay off your debt faster and save more on interest or opt for a longer term to lower your monthly payment.
• Releasing a co-signer: If your original loans required a co-signer, refinancing into a loan solely in your name can release your co-signer from their obligation.

Is refinancing right for you? Key considerations

While refinancing offers significant advantages, it's not for everyone. "Empower You" means making an informed decision. Consider these factors:

• Your credit score: Lenders typically require a good to excellent credit score and a stable income to qualify for the best rates.
• Loss of federal loan benefits: This is crucial. If you refinance federal student loans, you will give up federal protections such as income-driven repayment plans, Public Service Loan Forgiveness (PSLF), and access to federal deferment or forbearance options. Weigh these benefits carefully against potential savings.
• Fees: Be aware of any origination fees or other charges associated with the new loan. Always compare the Annual Percentage Rate (APR), which includes fees, to get the true cost of the loan.

Your path to refinancing: Steps towards empowerment

If you're considering refinancing, here's a general roadmap:

1. Assess your current loans: Gather all the details about your existing student loans, including balances, interest rates, and terms.
2. Check your credit: Understand your credit score and history. A good score will open doors to better rates.
3. Shop around: Don't just go with the first offer. Compare rates and terms from multiple lenders. Credit unions, like University Credit Union, are often excellent places to start, known for competitive rates and a member-focused approach.
4. Compare offers: Look beyond just the interest rate. Consider the APR, loan terms, and any fees. Use online calculators (like those found on consumer finance websites or even the Consumer Financial Protection Bureau's student loan tools) to model different scenarios.
5. Apply: Once you've chosen the best option, complete the application process.

UCU: Committed to empowering your journey

We are dedicated to helping our members achieve financial wellness. We also understand the complexities of student loan debt and offer resources and guidance, including potentially competitive refinancing options, to help "Empower You" to manage your debt effectively and build a stronger financial future. Our Certified Credit Union Financial Counselors (CCUFCs) are also available to provide personalized advice. Set up an appointment with our team to discuss your options for refinancing today!

Take control, live more

Student loan refinancing offers a tangible opportunity to gain greater control over your finances. By proactively managing your debt, you're not just changing a loan; you're building a foundation for greater financial security and peace of mind. Take that empowering step today!

Let’s face it—buying a car in 2025 isn’t quite the joyride it used to be. With prices climbing, interest rates fluctuating, and dealership “surprises” showing up like plot twists in a drama series, navigating the auto market takes more than just kicking a few tires. But don’t worry, University Credit Union (UCU) is here to help you steer through the chaos with confidence, clarity, and that first big drive home. 

What’s the deal with prices? 

Spoiler alert: cars are expensive. The average price of a new vehicle is now nearly $49,000, up more than $10,000 from just a few years ago. That’s not a typo, that’s reality. Blame it on supply chain headaches, high demand, or those 25% tariffs on imported cars that aren’t part of the U.S.-Mexico-Canada agreement. Whatever the cause, affordable options are in short supply. At this point, the phrase “entry-level car” might as well mean “good luck out there.” 

Used cars aren’t offering much relief either. The average listing is hovering around $25,000, and dealership markups are alive and well. One recent report found buyers were hit with an average of $640 in unexpected fees—because apparently “surprise” charges are the new (or old?) dealership handshake. Translation: bring a calculator and maybe a stress ball. 

The real cost of financing 

Here’s where things get serious—and where UCU can make a real difference. Your credit score plays a big role in the interest rate you’ll be offered. Super-prime borrowers (781 and above) are seeing rates as low as 4.7% for new cars, while those with scores in the low 500s might see rates that feel more like credit card APRs than car loans. 

At UCU, we’re not trying to sell you something you can’t afford. We’re here to help you finance something that fits your budget and your life. That’s why our auto loan rates are some of the best in the nation, with flexible term lengths and no payments for up to 90 days. It’s our way of helping you breathe a little easier during the car-buying process—because the only thing worse than a high car payment is realizing you also need new tires two weeks later. 

Don’t just shop for a car—Shop for your loan 

You wouldn’t walk into a dealership without knowing what kind of car you want (hopefully). So why would you accept whatever loan terms they throw at you? Getting pre-approved with UCU gives you clarity and leverage. It tells the dealership, “I’ve done my homework,” which is just a polite way of saying, “Nice try, but I’m not falling for the ‘this rate is only good today’ routine.” 

When you apply for a pre-approval with us, you’ll know what you can afford, what your payments will look like, and how much interest you’ll be paying over the life of the loan. Spoiler alert: it's usually less than what you'd pay with third-party financing. 

Get smarter before you sign 

Cars are complicated, but car loans don’t have to be. At UCU, we provide members with financial education tools designed to take the mystery (and the misery) out of the process. From online articles and budget calculators to live webinars and expert guidance, we’ve got you covered. 

Not sure what a loan term means? Confused by “GAP insurance”? Wondering why APR is more important than monthly payment? We’ll walk you through it all—no jargon, no judgment. Because financial education shouldn't feel like taking a pop quiz in a class you never signed up for. 

You’ve got this—Because you’ve got UCU 

Let’s be honest, the auto market might be running a little hot, but that doesn’t mean you have to get burned. Whether you’re shopping for your first car, your family’s next SUV, or refinancing that convertible you swore you'd only drive on weekends, UCU is here to help you make the smartest, most informed choice possible. 

Visit ucu.org today to explore our auto loan options, access our learning center, and get pre-approved. In this market, knowledge is horsepower—and we’re ready to hand you the keys. Watch this short video that outlines the whole auto buying process.

Sources for a deeper dive (Remember: do your homework—it makes all the difference!): 

• Barron’s. (2025). Car prices new and used continue to rise. 
• MarketWatch. (2025). Used car buyers face unexpected dealer fees. 
• NerdWallet. (2025). Auto loan rates by credit score.
• CarEdge. (2025). Used car price trends for 2025.
• University Credit Union. (2025). Auto loan rates and financial education tools.

Drive your dream car purchase with smart auto loan options

Buying a car is a significant decision, and for many, it involves navigating the world of auto loans. Feeling empowered during this process means understanding your options, knowing what to look for, and ultimately driving away with a vehicle and a loan that fits your financial well-being. At University Credit Union, we believe in equipping you with the knowledge to empower you in every financial step, including financing your next vehicle.

Understanding the road ahead: Key aspects of auto loans

Just like researching the perfect car, understanding the fundamentals of auto loans is crucial. Let's explore some key areas:

• Know your credit score: Your credit score is a major factor in determining the interest rate you'll qualify for. A higher score typically means lower rates and better terms. Before you even start browsing cars, check your credit report. Resources like AnnualCreditReport.com allow you to get free copies of your credit reports from the three major credit bureaus annually, helping you understand your credit standing.
• Pre-approval power: Getting pre-approved for an auto loan before you visit a dealership gives you significant negotiating power. You'll know exactly how much you can borrow and what interest rate you qualify for, preventing you from overspending and allowing you to focus on the car's price, not just the monthly payment. University Credit Union offers a straightforward pre-approval process to help empower you with this knowledge.
• Understanding loan terms: Auto loans come with various terms, typically ranging from 24 to 72 months (or even longer). While a longer term might mean lower monthly payments, it also means paying more interest over the life of the loan. We'll explore the pros and cons of different loan terms to help you make an informed decision that aligns with your financial goals.
• Interest rates demystified: The interest rate on your auto loan significantly impacts your total cost. You can get a general sense of prevailing auto loan interest rates and trends by consulting resources like the Federal Reserve Economic Data (FRED), which tracks average interest rates for various types of loans. Remember, comparing rates from different lenders, including University Credit Union, is a key step in empowering you financially.
• Beyond the monthly payment: Don't just focus on the monthly payment. Consider the total cost of the loan, including interest and any potential fees. Understanding the Annual Percentage Rate (APR) provides a clearer picture of the true cost of borrowing. Tools like the auto loan calculator provided by the Consumer Financial Protection Bureau (CFPB) can help you estimate monthly payments and the total cost of a loan based on different interest rates and loan terms.
   

Smart strategies for financing your vehicle: Your empowerment toolkit

Now that we've covered the basics, let's look at some actionable strategies to empower you during the auto loan process:

• Shop around: Don't settle for the first loan offer you receive. Get quotes from multiple lenders, including your trusted credit union like University Credit Union, banks, and online lenders.
• Negotiate the price of the car separately: Keep the negotiation of the vehicle's price separate from the financing discussion. Knowing your pre-approved loan amount will help you stay within your budget.
• Consider a down payment: A larger down payment can lower your loan amount, potentially reduce your interest rate, and decrease your monthly payments.
• Be aware of add-ons: Dealerships may offer various add-ons like extended warranties or paint protection. Carefully evaluate if these are necessary and factor their cost into your overall budget.
• Read the fine print: Before signing any loan documents, carefully review all the terms and conditions. Understand the interest rate, repayment schedule, and any potential fees.
   

University Credit Union: Your partner in smart auto financing

At University Credit Union, we're committed to empowering you with transparent and competitive auto loan options. Our member-focused approach means we prioritize your financial well-being, offering personalized service and rates designed to save you money. We're here to guide you through the process and help you make a confident decision. Explore our auto loan options:

• New Auto Loans: This type of loan is designed for financing the purchase of a brand-new vehicle. Typically, new auto loans may offer the most competitive interest rates and flexible terms. University Credit Union's new auto loans aim to make owning your dream car a reality with affordable payments and straightforward processes.
• Used Auto Loans: Used auto loans help you finance the purchase of a pre-owned vehicle. The interest rates on used auto loans might be slightly higher than those for new cars, depending on the age and mileage of the vehicle and your creditworthiness. University Credit Union offers competitive rates and terms on used auto loans, making quality transportation accessible.
• Auto Loan Refinancing: Auto loan refinancing allows you to replace your existing auto loan with a new one, ideally with better terms such as a lower interest rate or a more manageable monthly payment. If your credit score has improved since you took out your original loan, or if interest rates have fallen, refinancing with University Credit Union could save you money over the life of the loan.
   

Drive with confidence, financed with knowledge

Financing a car doesn't have to be a daunting experience. By understanding the key aspects of auto loans and employing smart strategies, you can feel empowered throughout the process. Remember to do your research, compare your options, and partner with a lender who puts your financial well-being first, like University Credit Union. Explore our auto loan products and let us aid you on your journey to a new or used vehicle!
 

Empowering you in your financial journey.

We all have a relationship with money. Sometimes it's smooth sailing, and other times it feels like navigating a stormy sea. But here's the good news: financial empowerment is achievable for everyone, regardless of where you are on your journey. It's about taking control, making informed decisions, and building a foundation for a secure future.

Why financial empowerment matters

Financial empowerment isn't just about having a hefty bank account. It's about:

• Reducing stress: Knowing you're prepared for unexpected expenses and future goals can significantly lower anxiety and build a sense of financial control.
• Achieving your dreams: Whether it's buying a home, starting a business, or traveling the world, financial planning makes it possible, giving you the power to reach your goals.
• Building security: Creating a safety net for yourself and your loved ones provides peace of mind, strengthening your financial independence.
• Making informed decisions: Understanding your finances empowers you to make smart choices about spending, saving, and investing, leading to true financial mastery.

Key pillars of financial empowerment

So, how do you embark on this journey? Here are some essential steps:

• Create a Budget: Track your income and expenses to understand where your money is going. There are many apps and tools available to help you with this. For reliable information on budgeting, you can refer to resources from the Consumer Financial Protection Bureau (CFPB): Consumer Financial Protection Bureau.
• Build an Emergency Fund: Aim to save three to six months' worth of living expenses in a readily accessible account. This will protect you from unexpected financial setbacks, giving you financial resilience.
• Manage Debt Wisely: Develop a plan to pay down high-interest debt, such as credit cards. Explore options for consolidating or refinancing if needed. The Federal Trade Commission (FTC) provides valuable guidance on managing debt: Federal Trade Commission.
• Plan for the Future: Start saving for retirement early and consistently. Even small contributions can make a big difference over time, securing your future financial freedom.
• Educate Yourself: Continuously learn about personal finance topics like investing, budgeting, and credit management, increasing your financial literacy.

Resources to empower you

Taking these steps can feel overwhelming, but you don't have to do it alone. Many resources are available to support your financial empowerment journey:

• Financial counseling services can provide personalized guidance and support.
• Educational webinars and articles can help you learn about various financial topics.
• Online calculators and tools can help you make informed decisions.
• Organizations like University Credit Union provide many of these resources, including expert financial advice, and educational tools to their members. They are a good example of a financial institution who focuses on empowering their members.
• Also the site MyMoney.gov is a great resource provided by the U.S. government.

Your financial future starts today

Remember, financial empowerment is a journey, not a destination. It's about making consistent progress and adapting to life's changes. Start by taking small steps today and learn how UCU can empower you, and you'll be well on your way to a brighter and more empowered financial future.

One of the key ways UCU helps members save is through smarter lending solutions. Whether you're looking to consolidate debt, refinance your car, or tap into your home's equity, we offer low rates and flexible terms. And the best part? The more you engage, the more you save.

Here's a breakdown of some of the ways you can save:

• HELOC (Home Equity Line of Credit): Use your home's equity to fund those big expenses.
• Consolidation Loans: Simplify your payments and reduce high-interest debt.
• Auto Loans: Save by financing with UCU. 
• Overdraft Line of Credit: Get that extra flexibility when you need it.

The bottom line:

Your credit union membership isn't just about having a place to deposit your paycheck. It's about having access to financial tools and resources that can help you save money and achieve your financial goals. Take advantage of the benefits your membership offers, and you might be surprised at how much you can save!

Congratulations, grad! You made it through the four years (or more) of hard work and have earned a higher degree. As you embark on your exciting new career, remember to complete one of your last college assignments – paying off your student loan debt. If the amount of student loan debt you carry makes you feel overwhelmed, you’re not alone. Student loan debt has been cited as the top concern for Millennials. One way to reduce your burden is to consolidate your student loan debt into a single loan.

Student Loan Debt Consolidation

College is expensive, which is why many students and parents take out a variety of student loans, both from the government and private lenders. Consolidating your student loan debt is the process of combining all your loans into a single new loan. When you consolidate debt, you will get a new loan with new terms and a single monthly payment. This makes paying off student loan debt a little less painful.

There are two student debt consolidation options to consider, depending on the types of student loans you need to pay off. To know what’s right for you, first you’ll need to know what types of student loans you currently have, and the terms of the loans.

Here are some questions to help you get started:

• Do you carry federal government student loans, like the Stafford Loan or Perkins Loan?
• Do you have private student loans from a financial institution that aren’t from the government?
• What are the interest rates on each student loan?
• Are the interest rates variable or fixed? (Hint: Variable interest rates can change during the course of the loan, while fixed interest rates stay the same.)
• What are the repayment period terms? (Hint: How fast do you need to pay them off, and when do you need to start paying them back?)

Option 1: Direct Consolidation Loan Program

If your student debt consists solely of federal government loans with fixed rates, you may want to consider the government’s Direct Consolidation Loan program. This program allows borrowers to continue to qualify for some terms of the original loans, like being able to defer initial loan payments until after graduation or qualifying for lower monthly payments.

Option 2: Consolidate Student Loans

Do you have a combination of private and federal student loans? Or maybe older student loans with higher or variable interest rates? Look into student loan consolidation from a private lender like University Credit Union. At UCU we have been helping grads consolidate their student loan debt for a few years now. Start the process by chatting with our team and discussing your options.

Benefits of Student Loan Consolidation

Consolidation can help you get ahead financially in several ways.

• Lower, fixed interest rates: Interest rates might have dropped since you originally obtained your student loans. Consolidation allows you to take advantage of those lower rates. Also, replacing variable-rate loans with a fixed-interest loan eliminates the risk of a future interest rate jump, which can increase your monthly payments without notice.
• Reduce monthly payments: The repayment period for most student loans is 5 to 20 years. Through consolidation, you may be able to extend the repayment period, which typically reduces your monthly student loan payment. The catch, of course, is that you end up paying more in interest because your term is longer.
• Customize repayment schedule: Some private loans allow you to tailor your monthly payments to your current income and gradually increase your payments over time. This can be a great option if you are just getting started and earning an entry-level salary but expect to earn a higher income in the future.
• One monthly payment: Rolling your student loans into one payment helps you keep tabs on the total owed and the progress you’re making.

Student Debt Forgiveness

The William D. Ford Direct Loan Program (FDLP) allows for flexible repayment schedules based on incomes. Graduates who pursue public service careers can have their loans forgiven after 10 years of payments. Additionally, low-wage earners who make payments for 20 years may have the remainder of their debt forgiven.

For many college graduates, student loan consolidation makes sense. The good news is that if you consolidate your loans with UCU, you can earn 1% more in dividends in your University Checking Account!* Feel free to contact us to learn more.

Loans, student loans, college, student

Credit Score, fico

When looking to buy a home, you’ll need to figure out how much you can afford. Home affordability budget sheets can be helpful tools for understanding your potential monthly mortgage payment, but they don’t account for the other human factors like family planning and retirement. To determine what you really should spend on your monthly mortgage, versus what you can technically afford, there are some standard factors to consider.

1. Calculate your total debt.

Your debt-to-income ratio is a calculation used by lenders to determine how much of your monthly income is already owed to someone. This figure can include student loans, divorce settlements, auto loans, and the minimum owed on your credit cards. A good rule of thumb is to pay down these other debts before taking on more debt.

2. Try to spend less than 30% of your gross income on your home.

A standard rule that lenders use as a criterion is to not allow people to spend more than 30% of their gross income on their mortgage. You may have heard the term “house poor.” This term is used when more than 28% of your income is allocated toward your housing, which includes principal, interest, taxes and insurance (also known as the housing ratio or front-end ratio). So, while you may have a gorgeous home, you likely won’t be able to buy furniture or entertain guests because you’re living paycheck to paycheck once you pay your mortgage and other bills.  

3. Don’t forget about your home’s down payment cost.

Another factor to consider when buying a new home is the cost of your down payment. For those taking advantage of an FHA, VA or USDA mortgage, you may only need to put down between 3% and 5% of your home’s purchase price. However, that will add an additional cost of private mortgage insurance (PMI). Most other mortgages require a 20% down payment of the home’s purchase price. It’s a good idea to start saving up for your down payment long before you begin house shopping.

4. Know what you’re getting into with upkeep.

When looking at houses, you may get excited by the thought of having your own pool or the big backyard of your dreams. Just remember that these types of items can cost a lot in maintenance over the years. Depending on your climate and landscape, you’ll need to manage your yard’s upkeep, which may include leaf and debris removal, tree trimming or removal, gardening and landscaping, growing and mowing the lawn. A pool can put you in the deep end quickly with the cost of chemicals and ongoing supplies and maintenance, not to mention the extra liability that requires insurance.

5. Failing to plan means planning to fail.

Another way to look at how much home you can afford is to figure out your long-term lifestyle and plan accordingly. Do you hope to have a family and children someday? Do you love to travel or go out on the weekends? How much do you want in retirement savings? Factor in those additional costs and see if you can still swing it. These factors don’t usually make it into a financial calculator or homebuyer’s checklist, so be prepared to consider these elements before creating your monthly housing budget.

6. Expect the unexpected.

One of the homeowner tips you’ve probably heard is to make sure you save enough money in an emergency fund for unexpected repairs and to leave enough in your monthly budget to continuously save for a rainy day. Hopefully, some of the larger ticket items will be revealed during your home inspection, but with homeownership, it’s always smart to expect the unexpected. At some point, your furnace may break, or your roof could need replacing, and you will be expected to have the money to pay for it.

Ready to figure out how much home you can afford? Visit one of our periodic home buying seminars or call 800.UCU.4510. A University Credit Union home loan can reward you with an extra 1.00% APY* on your checking account balance up to $25,000. We are here to help you.

Real Estate, Loans, Budget

While credit scores can be confusing to many new borrowers, they are important to understand. To put it simply, credit scores are how lenders determine the risk they may take on by giving you money to borrow. These scores vary from 300 (poor) to 850 (excellent). 

The three main credit bureaus (Experian, Equifax, and TransUnion) have different models to calculate your credit score, but they all use like-minded guidelines. Based on these scores, lenders can determine if they should lend to you or not. 

If you are new to credit, don’t let the undetermined aspects of a credit score scare you away. You have control over what your score looks like and can take steps to make a positive impact as well. 

Continue reading for our Credit 101 crash course in learning the credit basics you need to be a successful borrower and credit user. 

How Is My Credit Score Determined?

Not only are there many factors that go into determining your credit score, but each factor is weighted differently in how they comprise your final score. Your score may also vary between the three different credit bureaus. 

Here are the credit basics taken into account by the credit bureaus when calculating your credit score, ordered by importance:  

Payment History

Making on-time payments is one of the easiest and most important ways to maintain or improve your credit score. Late payment of over 30 days can negatively impact your score for up to seven years. Repeated missed payments are detrimental to your credit’s health. 

If you have ever filed bankruptcy, your credit score will be impacted negatively as well, since those are public records. It is critical not to use credit if you can’t make payments on the accounts, as this will have long-lasting impacts on your credit scores. 

Credit Usage/Available Credit

One of the first things that credit bureaus look at is your credit usage or amounts owed. Not only are they looking at the total amount of debt you owe, but they are analyzing your credit utilization ratio, which is mainly used for revolving debt, like credit cards and HELOCs. 

Credit utilization ratios take the current balance of your amount owed and compare it to the credit limit you have available on the account. Ideally, you want your credit utilization ratio to be under 25%-30% for each account. If it is lower than that, your score will only improve. 

To calculate your credit usage on a revolving account, simply take the amount owed and divide by the credit limit on the account and multiply that amount by 100. This is your credit utilization ratio for that specific account. You can figure out the credit utilization ratio for all of your accounts by adding them up.

If you calculate that a ratio for a revolving account is higher than 30%, you may want to consider paying down the balance to improve your credit score. Alternatively, you could also ask for a credit increase on the account. 

Credit History

Your credit history is another factor that is considered when calculating your credit score. This is one of the main reasons younger borrowers have trouble getting approved for credit since they don’t have much, if any, credit history.  

The credit bureaus will look at the average age for all of your credit accounts and unfortunately there is no hard and fast way to improve this. The best thing to do is to keep your most mature accounts open and refrain from adding too many new accounts at once as this may impact your credit history. 

Types of Credit Accounts

Credit basics like your credit utilization ratio are important, so is the variety of account types you have open.  

Credit cards will fall under the revolving credit accounts, whereas an auto loan, mortgage, or student loans would be an installment credit account. Having a combination of the different kinds of accounts can improve your scores because it showcases diversity in your credit approvals.
 

New Accounts or Inquiries

While filing for new credit isn’t always a bad idea, too many hard inquiries (where lenders pull credit scores to make a lending decision) can negatively impact your credit scores. It is best to limit the number of times you apply for credit to only when you are truly interested in obtaining new accounts. If you’ve been pre-approved for a loan, there will not be a hard inquiry and this will not impact your overall credit score.

How Can I Check My Credit Score?

Where you bank or have credit accounts may allow you to view your credit score. You can also purchase credit scores directly from FICO®, which is another great option if your financial institution does not provide that service. As a member of UCU, you are able to view your FICO score within digital banking.

One of the most important credit basics is knowing the difference between your credit score and your credit report. While both are good to review regularly, they will not provide you with the same information. Your credit report shows you financial information, such as type of accounts, current balances, and payment history; however, it does not show you your credit score. 

There are also free credit scoring sites that can help you get a rough estimate of your credit score. These are not official scores though, so they may not be exactly what a lender would see if they pulled a hard inquiry on your credit, but they are great for monitoring and maintaining your scores. 

How Can I Improve My Credit Score?

There are many ways you can jump-start improving your credit score. A few recommendations include:

• Pay your revolving credit down as much as possible or potentially consolidate it into a personal loan
• Make all payments on time (consider bill pay)
• Limit hard inquiries on your credit
• Keep old accounts open to strengthen your credit history
• Ask for increased credit limits on existing accounts
• Regularly review your credit report and dispute any errors

Loans, Credit Score, Accounts, fico

Fixed or Adjustable Rate: Which Mortgage is Right for You?

Buying a home is a significant accomplishment in your life. It’s also important to choose the right type of mortgage for your unique financial needs. That’s why couples like Doug and Heather, University Credit Union members, decided to do some homework before buying a home and going with just any mortgage provider online or a broker.

While Heather wanted to get an adjustable rate mortgage to buy a house with lower payments now, her husband Doug wanted a home with a fixed rate mortgage which would provide them with predictable payments over the life of the loan.

Choosing a mortgage doesn’t have to be a complicated decision. Although interest rate is important, Doug and Heather took other factors into account, such as how long they planned to stay in their house and what kind of loan they wanted to meet their monthly budget. While there are many different types of loans out there, the good news is UCU offers both fixed-rate mortgages and adjustable-rate mortgages for you to choose from for your particular situation.

While you will likely be able to research even more loan options with UCU, your first decision is choosing whether you want a mortgage with an interest rate that never changes during the period of the loan, or one that starts low but varies over the loan period (either up or down).

Fixed-Rate Mortgages Offer Predictability.

If you are like Doug, then when it comes time for budgeting, you know exactly what payment you’ll get with a fixed-rate mortgage.

1. Fixed Interest Rate: Fixed-rate mortgages offer an interest rate that will never change during the term of your mortgage. If you’re borrowing during times of low interest rates, this is a valuable perk because you’ll pay less money in interest.
2. Predictable Payments: With a fixed-rate mortgage, your monthly total amount paid for principal and interest will not change. However, if your municipality increases taxes every year, as most do, you’ll see an increase in your monthly payment if you’re paying your taxes through your mortgage payment and not separately. Due to amortization, more of your payment will go toward interest in the first years of your mortgage. In the latter stages of your mortgage term, more of your monthly payment will go toward principal.
3. No Surprises: Because your rate is fixed, it’s easier to figure out your monthly allocation for housing. But if you’re borrowing during a time of high interest rates, this mortgage’s payments might be less affordable than other options.
4. Term: Another factor to consider with a fixed-rate mortgage is the term of the loan. Thirty years is the most popular option because it offers the lowest monthly payment. However, you’ll pay more for your home over the life of the mortgage compared to a 15-year or 20-year term, since you’re paying 10 or 15 additional years of interest.

Fixed-rate mortgages are best if…

• You want to know what you’re going to pay for your mortgage every month.
• You plan to live in the home for 10 years or more.
• You’re borrowing during a period of low interest rates and the first two points apply to you.

Adjustable-Rate Mortgages Offer Flexibility.

If you are like Heather, then an adjustable-rate mortgage (ARM) offers attractive features like larger loans with lower payments for some borrowers.

1. Fluctuating Rate: The interest rate for these mortgages will adjust frequently over the life of the loan, depending on how the mortgage is structured, after a specific period when the rates is fixed, usually one, three or five years. In the early stages of the ARM, your interest rate will be lower than the lowest rates offered on a fixed mortgage. Depending on market conditions, your ARM can increase sharply or gradually, or it could decrease. It’s uncertain, which is why it’s important for you to determine that you can afford larger monthly payments if your mortgage adjusts upward.
2. Larger Loan: Along with lower initial payments, you can also qualify for a larger loan because you’re not paying as much in interest at the start. If interest rates continue to decrease, you’ll enjoy lower mortgage payments and lower rates without refinancing your mortgage.
3. Interest Rate Ceiling: There is a ceiling that caps your ARM’s rate increases, which varies by lender. Your interest rate will adjust based on activity of a particular index, such as interest rates on certificates or Treasury bills. Keep in mind that interest rates on ARMs can double within a few years.

Adjustable-rate mortgages work if…

• You want an initial rate that starts below current market rates for fixed mortgages.
• You plan to live in your house for approximately five years or fewer (or before the fixed-rate period ends).
• Interest rates are relatively low, and you they might go lower in the future.

Buying a home is certainly an exciting stage in life. So, if you are like Doug and Heather, make sure you select the right type of mortgage that works for you now and in the future. Make the right choice with the helpful assistance of a UCU mortgage professional.

Want to learn more? A UCU home loan can also reward you with an extra 1.00% APY* on your checking account balance up to $25,000. For next steps, please reach us at 800.UCU.4510. We can’t wait to meet you!

ARM, Interest, Mortgage, Loans, Home, Estate, Fixed, Rate, Real

Fraud and identity theft can ruin your credit score, create a massive headache, and negatively affect your overall financial health. 

Rather than trying to clean up the mess after the fact, it is important to focus on prevention. Keep reading to learn more about how to prevent fraud and keep all your financial accounts safe.

Practice ATM Safety

Always be aware of your surroundings when you are at an ATM, especially when entering your PIN or withdrawing large sums of cash from your account. Card skimmers or false façades may be used to fraudulently obtain your financial information, to use or sell it. Similarly, another common source of theft through skimmers is at the gas pump.

Look out for signs that the card reader has been tampered with, such as tape, glue, or scratches. The card reader could have been replaced with a counterfeit device, in which case it may seem loose. In some cases, your PIN may be recorded by a small camera located nearby or on the machine.

If you think you may have been a victim of card skimming, report your suspicions to the police as well as the business where your card information may have been stolen, and contact your financial institution to replace your credit or debit card.

Beware of Scams

There are a multitude of ways that hackers and scammers can obtain your bank information either fraudulently or by gaining your trust. Phone call scams, phishing scams, and even social media cons are all common ways of attempting to gain access to your account information.

For example, a phone call may come from a source pretending to be the IRS, an email appearing to be from your financial institution may contain a cloaked link leading to a fake website, or a fake social media account may appear to be a loved one asking you for money. 

Never give out your personal information, such as your social security number, online or over the phone, to anyone you do not know. Inspect all links that you receive via email thoroughly, especially if the email comes unexpectedly or claims that you owe money.

These scams play on people’s emotions and attempt to create perceived vulnerabilities such as making you think that a loved one is in distress or threatening you with negative consequences such as going to jail or having a past-due bill sent to collections.

Safe Digital Banking

There are several safe practices for online banking that will prevent fraud while protecting your information and your money.

When receiving and sending money online, only use known and trusted websites and apps like Pay a Person (P2P), PayPal, Venmo, etc., that are verified and secure. These brands are often backed up via pass-through FDIC insurance and protected by SSL certificates and encryption.

Never send money to anyone that you don’t know, and always verify the amount and the sender before you initiate a financial transaction online. 

Create strong passwords, protect all your electronic devices with a passcode or biometric recognition, and keep your contact information up to date. Never share your passwords with anyone you don’t trust, and use a unique password for each financial institution or be prepared to change all of your passwords in the event of a data breach.

Protect Your Banking Information

When it comes to your old bank cards, bank statements, or any other documentation that contains your personal information, it is important to dispose of it safely. Always shred financial documents whenever possible and cut up unused debit and credit cards before throwing them away. 

In addition, be sure to protect these items whenever they are on your person, and never leave your wallet, cell phone, or purse unattended in a vehicle, shopping cart, or other places where they could be easily stolen.

What to Do if You Become a Victim

In the unfortunate event that you do become a victim of personal or financial identity theft or fraud, there are a number of important steps you can take to stop the criminals in their tracks and protect your information from further attack.

Report any instances of identity theft or fraud to your local police department whenever possible to obtain a police report. You will also want to place a credit freeze on your files with all three credit bureaus - Experian, Equifax, and TransUnion.

If your identity was also stolen alongside your banking information, contact the FTC at IdentityTheft.gov or by phone at 1.877.438.4338 to set up a recovery plan and receive an Identity Theft Report. This report can help you remove fraudulent activity from your credit reports and other financial institutions.

Be sure to take advantage of every security feature offered by your financial institution and notify them immediately if you feel that your personal information has been compromised.

Prevent Fraud & Keep Your Accounts Secure

In addition to knowing how to prevent fraud and taking the steps above, University Credit Union offers a variety of features and services that you can use to ensure your financial security.

Keep your account secure

Safety, Security, Accounts, Digital, Fraud, Scams

If you’re like most people, you work hard for your money. You need much of that income to meet your obligations – housing, food, transportation, insurance, etc. But you also would like to have a little extra for the finer things in life – something new for the house perhaps, or a nice vacation.

The key to having enough for both your needs and wants is to spend your money wisely. A good way to achieve that goal is with a specific plan. That’s what a household budget is, a written blueprint for spending. It helps you document how much you take in, how much you pay out, and provides clues as to how you might stretch your dollars a little further.

There are tools to help track your monthly budget using software or apps, and a basic overall breakdown to start with can be:

• 40% housing & utilities
• 15% food
• 5% personal expenses
• 10% transportation (including car loan or commuting expense)
• 10% clothing & entertainment
• 20% debt repayment & savings

Before you dive in, here’s an overview of what you’ll be doing and why it should pay off:

Add up your income: You probably have a good idea of your annual salary, but to compute your household budget, you’ll need to know how much you earn monthly. It’s a good idea to use paycheck stubs – either paper or online – for all the wage-earners in your family. Be sure to also include regular income from other sources, such as interest or dividends. But make sure you subtract the amount deducted for taxes, Social Security, Medicare and your retirement plan. Your take-home pay is known as your net income.

Compute your expenses. How much do you spend each month? Expenses can be divided into two categories – fixed and variable. Fixed expenses are the things you pay the same amount for every month – housing, car loan payments, and your cable bill are common examples. Variable expenses change month to month, and can include grocery purchases, electric bills and clothing and entertainment costs. It’s easier than ever to find expense information – your UCU digital banking account and eStatements contain a history of payments from your checking account. Individual expenditures are also listed on credit card statements, which you can view on paper or online.

What’s the difference? The next step is to use basic math to figure the difference between your income and your expenses. If your net income exceeds your expenses, that’s great. Then you can work to make the gap bigger. And if your expenses exceed your income? Well, you know you need to look for ways to save.

Set some goals. You’re most likely to follow a budget if you have specific financial goals in mind. They can be short-term goals, such as eliminating some debt or buying new appliances. Or they can be long-term goals, such as building up savings to buy a house, fund a child’s college education or build a retirement nest egg. A good way to motivate yourself is write down your goals where you’ll see them each time you work on your budget.

Crunch the numbers. Now it’s time to really get organized. Divide your expenses into categories. These might include some of those mentioned above - housing, transportation, loan payments, utilities, food, health care and entertainment. Within those categories, identify each month’s fixed costs and variable expenses. You probably won’t be able to alter your fixed costs very much – after all, you have to pay your mortgage. But looking hard at the variable costs might pay big dividends. Could you save money by dining out less often? By reducing your electric use? By carpooling or taking public transportation? One way to think about it is decide what you need and what you merely want. Can you live without some wants to have more money to pursue those short- and long-term goals?

Some loose guidelines. A good rule of thumb is that 50% of your budget should go toward fixed expenses, 30% toward variable or flexible spending items, and 20% toward your goals. Make sure you build a smart savings plan into whatever formula you use, especially if you’re setting money aside for long-term goals. UCU offers interest-bearing savings accounts and Money Market accounts and certificates of deposits that will help you make the most of your money.

Keep plugging away. Once you identify ways to save, set monthly goals for each category. But that’s not the end of it. For all your efforts to pay off, you’ll need to keep constant tabs on your spending. Get in the habit of documenting every expenditure, whether you save a receipt, send yourself a text or make a note in a budgeting app. That very act may make you think twice about buying things you don’t really need. And check in with your budgeting software at regular intervals to track your progress.  As time goes on, you’ll sharpen your skills and come up with new and better ways to make the most of your money.

Bank with your Brain. Come in to UCU to see more of what we can do to help you achieve and maintain your financial goals and budget; our goal is to help give you a financial advantage.

Budget, Financial Planning, Goals, Savings, Spending

Banking and shopping online are modern conveniences we’ve come to rely on to make our lives easier and more efficient.

We use our phones, computers, and tablets to manage everything from checking account balances, depositing checks, and paying bills, to shopping for clothes and even groceries online.

While virtually anything can be done online in the blink of an eye, it is important to take a few extra minutes to protect yourself and your money, from fraud or identity theft.

See our top five tips for keeping yourself safe online:

1. Make Sure You Are Shopping on a Secure Website

This may seem like an obvious tip, but is an important one. It isn’t unheard of for hackers to spoof an official website, or create an unsecure website to gather your personal information.

To check the security of a website make sure the URL begins with https:// and look for the padlock sign next to the URL, which indicates a higher level of security.

2. Choose Unique Passwords and Change Them Often

It is tempting to use a simple password that is easy to remember, such as your child’s name or pet’s name followed by an exclamation point. Many people choose easy passwords and use the same password for all their online logins, in some cases for months or even years, before updating them.

Passwords that can be easily guessed, or quickly discovered by hackers, are far more likely to get compromised. In the event your password is compromised on one website, it is likely compromised across multiple sites.

While it takes more effort, selecting unique and complex passwords for each login, and changing passwords often, is a key step to protecting yourself online.

If you aren’t sure how to keep track of all your new passwords, consider a professional level password manager.

3. Don’t Save Credit Card Information on Retailer Websites

When shopping online at a store you frequent, you’ve probably been asked if you want to save your credit information for later. This makes shopping easier - especially when shopping at home from your own computer or phone and the risk seems low.

But if your device is lost or stolen, your personal information can easily end up in the wrong hands. It takes less than a minute to enter your credit or debit card information at checkout, so err on the side of security and choose not to save your card information online.

4. Avoid Automatic Logins Across Websites

When setting up a new account online, many websites offer the convenience of connecting a pre-existing account, such as a Facebook, Google, or Amazon account to speed up the registration process.

Instead of taking the time to set up a profile on the new site, you simply click a button and all your personal information is transferred to the new site for quick and easy access or shopping.

This may save you time, but isn’t a recommended practice, especially in cases where sensitive personal information is stored and will be transferred to the new account you are creating. This leaves you even more vulnerable to fraud if either of the accounts are breached.

Going back to the first tip above, to protect yourself, create a new account with a strong password.

5. Sign Up for Fraud Alerts or Notifications

UCU provides an option to receive a fraud alert when purchases are made or when trying to log into your account. In addition, card manager, available in mobile and online banking, can help you manage and block your UCU credit and debit cards.

While this extra step might seem unnecessary when everything is going smoothly, receiving an alert your card was just used at a store you don’t recognize, or seeing an alert someone is trying to log into your social media account, can go a long way to provide peace of mind and protect you from fraudulent activity.

In the event you do get this type of notification, report it immediately, then work just as quickly to change your password.

How University Credit Union Keeps Members Safe

Securing your personal information is of the utmost importance to us at UCU.

If you suspect you’ve been the victim of fraud, please contact us immediately at 800.UCU.4510. Learn more about how strongly we take your online privacy and safety. Visit our security page.

UCU Security

Credit, Cards, Passwords, Safety, Security, Shopping

Tapping into your home equity is a very convenient way to obtain a loan that can be used for many different things, like a home renovation project or to help fund college expenses.

If you are considering using your home’s equity to get a loan, a popular option to consider is a home equity line of credit (HELOC).

But, are HELOCs a good idea?

These loans are very different from traditional loans, and it’s important to understand how they work and their pros and cons before deciding to apply for one.

What is a HELOC?

With a conventional loan, you receive a lump-sum payment for the total loan amount up-front and then repay it over time with monthly payments. A cash-out refinance is an example of a home equity loan that you repay over time with either fixed or variable rates.

With a University Credit Union HELOC, you receive a line of credit instead of a lump-sum amount up-front. HELOCs operate similarly to credit cards. They allow you to withdraw money as you need it, and the amount of available funds is replenished as you repay the money you borrowed.

HELOCs are typically established for a certain period of time, which is called the draw period. University Credit Union offers a draw period of 10 years. They also usually have minimum amounts that you can borrow. With University Credit Union’s HELOC, for example, the minimum borrow amount is $25,000.

There are many situations where a line of credit may be preferable to a lump-sum payment. This type of loan is a good option for those who are completing home improvement projects themselves and they need a way to periodically obtain money for building materials, tools, and other supplies.

Pros of HELOCs

HELOCs have many benefits to consider. These are the reasons why HELOCs are a popular option for those who are looking for a way to tap into their home’s equity.

Few restrictions on how you use the funds

HELOCs typically have few or no restrictions on how funds can be used. In most cases, how you use the money is entirely up to you.

Borrow only what you need

Unlike a conventional loan where you receive the full amount of the loan upfront and then repay it over time with monthly payments, HELOCs allow you to borrow only the money you need, when you need it. Some people take out HELOCs and never make withdrawals. They keep their lines of credit open for emergency purposes.

Interest may be tax-deductible

Although the tax code changes every year, you may be able to deduct the interest from your HELOC payments on your tax return. Be sure to consult with a tax professional for the current IRS regulations on interest deductions for more information.

Low interest rates

Interest rates for HELOCs are usually lower than rates for personal loans or credit cards, which are unsecured. HELOCs are secured loans that are backed by the equity in your home.

There are several ways to get the best HELOC rate. Although HELOCs already have great rates, it pays to do your homework before applying to make sure you get the best rate possible.

Interest-only payments

You can make interest-only payments on the money you borrow during the draw period. This can be helpful for a home improvement project that will increase the value of your home. If you intend to sell the home after completing the project, the profit may be used to repay the principal of the loan.

Cons of HELOCs

While the benefits of HELOCs are hard to ignore, there are some potential negatives to consider.

Evaluating both the pros and the cons will help you make an informed decision as to whether this is the best loan for your needs, or if another type of loan would be a better choice.

Your home is used as collateral

While the use of your home as collateral to obtain a low interest rate may be viewed as a valid HELOC benefit, it can also be a negative at the same time. One reason for this is because when you use your home as collateral, the equity in your home will be reduced by the amount of money you borrow.

Another negative to consider is the potential loss of your home if you are unable to repay the principal when the draw period ends. In the event of financial distress, there is a risk that a borrower may lose ownership of the collateral that was used to secure a loan if the borrowed money plus interest cannot be repaid.

Variable interest rates

Most HELOCs have variable interest rates. This could result in spending more on interest than what you anticipated if the interest rate increases.

Possible balloon payment

If you have been making interest-only payments during the draw period, the full amount of the borrowed money will be due when the draw period comes to an end. This could result in a balloon payment to cover the debt. UCU’s HELOC has a total term of 25 years. The first 10 years is the draw period. On the day that the draw period ends, if the balance is zero, the HELOC is closed out. If there is a balance, the member will have the remaining term — 15 years, in this case — to repay the loan. The last 15 years is the "repayment" period.

Fees

HELOCs may have additional fees that go beyond closing costs. Knowing whether a HELOC you are considering has fees can help you avoid unpleasant surprises. Potential fees to be aware of include:

• Annual maintenance fee
• Withdrawal fee
• Non-use fee
• Penalty for early payment

Whether a HELOC has additional fees depends on the lender. University Credit Union’s HELOC, for example, does not have an annual maintenance fee, withdrawal fee, non-use fee, or penalty for early payment, saving our members money.

It’s easy to overspend

Something to watch out for with a HELOC is the temptation to overspend. When you only have to make interest-only payments during the draw period, it can be easy to forget that the principal of the loan will eventually have to be repaid. Because of this, some may treat their HELOCs like an ATM and use them for things that are unrelated to the original purpose – like buying groceries, electronics, furniture, and other things.

A Smart Way to Tap Into Home Equity

HELOCs are a great option for those who need a line of credit instead of a large lump-sum payment. They are ideal for remodeling your kitchen, fixing a leaky roof, or for consolidating debt.

If you are looking for a HELOC with a great rate, University Credit Union has you covered. You can borrow up to 80% of your combined loan to value, and there are no annual fees. With a minimum loan amount of $25,000, you will be able to use it for many different projects and expenses. Applying is quick and easy – everything can be done online.

If you have any questions, one of our representatives will be glad to assist you. You can also read about general HELOC considerations and requirements to learn more about these loans.

Read General HELOC Considerations & Requirements

Mortgage, Real Estate, Loans, HELOC

Most of us need a little financial help at one time or another. Maybe you have a large, unanticipated expense like a home or car repair. Perhaps it's an unforeseen medical bill. Or, maybe you are expecting a large commission check or insurance settlement and need some funds to get you through until that check arrives. 

Whatever the reason, a personal loan can provide the funds you need to get you over the short-term hurdle. However, there are two distinct types of personal loans — secured and unsecured. The type that's best for you will depend on your credit score and how you intend to use the proceeds of the loan.

Secured vs. Unsecured Loans 

A secured loan, as the name implies, is secured by collateral of some kind. This might be a certificate, a savings account, or a piece of personal property, like real estate or a car. If you default on the loan, the money owed to the lender will be taken out of the collateral. If the collateral is property, it will be sold and the loan payment is taken from the proceeds of the sale.

An unsecured loan, on the other hand, requires no collateral. It is guaranteed simply by your promise to pay it back. For this reason, it generally takes a higher credit score to be able to get an unsecured loan than a secured loan. 

Unsecured personal loans typically have a higher interest rate, since the risk is perceived to be higher. According to data from the US Federal Reserve, the average interest rate on a 24-month unsecured personal loan is 9.34%. This is lower than the interest rate on credit cards, which averages 14.65%. UCU's personal loans prove to be some of the best in the nation, with an APR* as low as 8.25% on a 24-month loan. Click here to check out our personal loan rates.

Of course, with either type of loan, you risk lowering your credit score if you fail to repay the loan as outlined in the loan agreement.

When To Use A Secured Personal Loan

Secured loans are a good idea if you have an asset with a bank, such as a CD, that you can use to secure the loan. You won't face penalties for cashing in your CD early, and you'll get a lower interest rate on your loan by securing it with the CD account. This is especially wise if you are earning more interest on the CD than you would pay on the personal loan.

Another plus for a secured personal loan is that you will likely be able to get approved for a higher loan amount than you will with an unsecured loan. Of course, that depends on how much collateral you have to offer. Rates are typically lower when using collateral to secure a loan.

A secured loan is also a strategy to help rebuild your credit score.

When To Use An Unsecured Personal Loan

An unsecured personal loan might be the best choice for you if you have a strong credit score. While you'll likely pay a higher interest rate, with an unsecured loan, you don’t put up collateral so there is no worry about property being taken or savings lost if you default on your loan. 

Unsecured personal loans are generally less risky than using your high-limit credit card to get the funds you need for an emergency or to bridge the gap when money is tight. The higher your credit score, the lower your interest rate will likely be for your unsecured personal loan.

Get Competitive Rates & Excellent Member Service Today

University Credit Union has been helping people like you access short-term funds for emergencies and to bridge income gaps for 70 years. 

Check out our variety of personal loans and lines of credit. You can borrow as little as $500 and get your funds in either a lump sum or revolving credit line with an accompanying debit card for access. University Credit Union features the Lowest Loan Rates in the Nation Guarantee1, and applications can be completed quickly on a computer or mobile device. It's that easy.

Home equity lines of credit (HELOCs) can be a good fit in certain situations. If they are something you’re considering, you want to go about it intelligently. If you have a combined loan-to-value (CLTV) ratio of under 90%, you might be a good candidate for a HELOC. Add your existing loan balance to the line of credit you’re interested in, and divide it by your home’s appraised value to determine your CLTV. Unlike personal loans or credit cards, HELOCs already tend to have lower interest rates. But we’re going to give you tips on how to get the best HELOC rate possible for your situation and financial circumstances. That way, you can enjoy manageable monthly payments during your repayment period. 

1. Improve Your Credit

If you don’t already know your credit score, get a clear picture of where you stand financially and view your FICO score for free on our digital banking platform. Good credit is important to secure favorable interest rates. If possible, take steps to improve your score.

2. Compare Lenders

Before you get started, it’s a good idea to shop around different lenders’ HELOCs. Here are some factors to look at when you’re considering a HELOC with UCU.

Rates

Unlike a home equity loan where you receive a lump sum and usually pay fixed interest rates, HELOCs have variable interest rates. This means they can fluctuate as interest rates change over time. Be sure to check how long the low initial rates offered will last. 

Draw Periods

A HELOC consists of two phases: a “draw” or borrowing period, followed by a repayment period. The repayment period can last up to 25 years.  In addition to comparing rates, find out how long a HELOC draw period is. This is especially important since you can no longer borrow once the draw period is over.

Review Terms & Conditions

Some things you may want to consider include:

• Interest rate caps. See if the HELOC you’re considering has maximum interest rate caps, either for the length of the loan or for a specific time.
• Rate indexes and markups. Often, the interest rate will be tied to the prime rate. However, your lender may also add a markup. This is an additional interest payment that lenders may offer at an initial discount. When checking terms and conditions, look for markup increases. 

3. Be Aware of Fees & Penalties

Be sure to review fees and penalties when considering a HELOC. Find out if there is an origination fee – or an inactivity fee. Some lenders charge you for not making withdrawals from your HELOC. An additional cost to look for: prepayment penalties. Sometimes, lenders will charge borrowers who pay off their loan amounts early. This can happen because you decide to sell your house, so if you have substantial equity in your home but think you might sell during the life of the HELOC, consider whether it’s worthwhile to take out the maximum amount allowed.

Balloon payments

Balloon payments are a term for lower monthly payments during the repayment period, with a large payment at the end. If this is something you’re comfortable with, be sure to factor in the balloon payment due date when planning and budgeting.

4. Make Sure You Have Enough Equity

The amount of equity you’ve built up in your home can impact the rate for which you’re eligible on your HELOC. Lenders look at greater amounts of equity as an indication that borrowers don’t have excessive amounts of debt against their homes. This makes them more favorable loan prospects from a lender’s perspective.

The University Credit Union HELOC Advantage

Credit unions, like UCU, can offer more personalized member service. As cooperative, member-owned not-for-profit financial institutions, they can afford to reward borrowers with lower interest rates. University Credit Union members can take advantage of simple, immediate online access to their HELOC funds, with no annual fees.  Our products and services include more than HELOCs. Members can open checking and savings accounts, insurance products and financial planning services, and credit cards, as well as a variety of loan types, including auto and home loans.

When you’re shopping for a credit card, you’ll hear the term APR, along with other terms, over and over. But what exactly does credit card APR mean? Understanding credit card APR is important because it will help you find the best credit card interest rate. Of course, we know all of this can be confusing, so we put together a guide to help you navigate the world of credit card interest. 

Defining APR

APR stands for Annual Percentage Rate. It’s a number that essentially explains how much you will pay to borrow money. For some credit cards, APR is synonymous with interest rates. And for most credit cards, interest and APR are about the same amount. However, for cards with additional fees, the interest rate and APR will be different. APR will include both the interest rate and all those extra fees. So, it’s essential to pay attention when you see APR.

When do You Pay APR for a Credit Card?

With a credit card, remember that, in general, interest will only be charged if you do not pay off your balance in full on or before every due date. So, if you make the minimum payment, you will be charged interest on the remainder of your balance. On the contrary, if you pay your credit card in full and on time every time it’s due, you will not incur interest. Keep in mind, however, when you make a cash advance and/or a balance transfer, you may start incurring interest regardless of whether you have a previous balance or not.

How APR is Determined

APR is calculated by the financial institution based on the US prime rate and a couple of other factors. First, they consider whether the card is secured or unsecured. A secured credit card is one where your credit card limit is typically set by an amount of money that you pay as a deposit. For example, if you pay a $500 deposit, you will have a $500 spending limit on the card. These cards usually have higher APRs. On the other hand, an unsecured card has no deposit, and the APR may be lower. Typically, credit unions have lower APRs than banks. APR will vary from financial institution to financial institution, so be sure to check with their policies.

Sometimes, the APR may be higher if there are additional features or benefits on the card such as rewards, cash back, or other travel perks. Another significant factor that will determine your APR is your credit score and history. Often, starter cards for people with little to no credit history will have a higher APR. As you build your creditworthiness, you can qualify for cards with a lower APR.

Different Types of APR

Credit cards have more than one type of APR. These values will apply depending on how you use your card.

• Introductory APR: Some cards offer a lower starting APR, which applies for a limited time.
• Purchase APR: This is the APR that will apply to all standard purchases on your credit card.
• Cash Advance APR: If you are borrowing cash instead of buying items, sometimes you will incur a different rate. Cash Advance APR is often times higher than Purchase APR.
• Penalty APR: This will usually apply if you break the terms of your card. For example, if you fail to make the minimum payment.
• Balance Transfer APR: If you are transferring balances from other credit cards, you may incur a different rate. 

Credit card APR may also be variable or fixed. Variable APR will fluctuate over time, while fixed APR can stay locked in. Variable rates are typically tied to a financial index. Variable rates can sometimes save you money when interest rates drop, but rising interest rates can also affect the amount you pay on a balance.

How APR is Applied

If you carry a balance on your credit card, APR may be applied to your balance daily or monthly. If the APR is calculated daily, you’ll want to take your total APR and divide it by 365 to find the daily rate. Let’s say your daily rate is 0.0005%. If your balance is $300, you’ll pay $0.15 per day or $4.50 in interest over the month. If your APR is calculated monthly, it’s a similar process. Divide your total APR by 12. Then, multiply this by your monthly balance. This calculation is for illustration purposes only, different financial institutions will determine how the calculation is performed.

Choosing the Best Credit Card for you 

When choosing a credit card, APR is just one factor you want to consider. You’ll also want to decide between a secured vs. unsecured card, any possible rewards, and fees. Most financial institutions will offer an array of cards to fit your lifestyle. For example, University Credit Union offers several different cards, including, secured, cash back, rewards, and a low rate University Credit Card, all with no annual fees and no foreign transaction fees.

Deciding on a credit card to fit your lifestyle means you’ll want to think about where and how you spend your money. It’s also critical that you read the terms associated with the credit cards you're considering. For example, some cards only give rewards on certain purchases — like gas or groceries. University Credit Union’s cash back and rewards cards, however, offer cash back or points for every purchase. Be sure to consider all of the cards that University Credit Union offers so that you get a card that best fits your spending habits. Choosing a credit card may seem like a big decision, but the team at University Credit Union is here to equip you with the know-how to choose wisely and confidently.

Making a purchase with cash is quickly becoming a thing of the past. Because this is the case, it’s beneficial to have non-cash payment options. However, when it comes to paying with plastic, you may not be aware of the critical differences between credit and debit cards. At University Credit Union, we believe learning never needs to stop. We always want you to know your options and how different financial tools work so you can achieve your goals. Today we’ll explain the many differences between credit and debit cards. Then you can choose to use the right one for your needs.

How a Debit Card Works

Debit cards are the simpler of the two options. Debit cards are typically tied to a checking account. If you open a checking account, you’ll usually be offered a corresponding debit card. They are an electronic way to access the money in your account. They can generally be used to withdraw cash at an ATM or to make purchases. Since debit cards are directly tied to your checking account, using them is like paying with cash but paperless. When you make a purchase with your debit card, the money is taken directly out of your account.

The Perks of Debit Cards

Debit cards offer you a convenient way to access your money. They can bring you the convenience of a credit card without the risk of getting into trouble with debt, or missed payments. Debit cards also typically come with fraud protection. That way, if something goes awry with a payment, unlike with cash, the money may not be permanently gone.

The Cons of Debit Cards

Debit cards will not help you build your credit, so a credit card might be a better option if this is one of your goals. When using a debit card, if your spending exceeds your balance or dips below some minimum amount, you may be charged an overdraft fee. Some debit cards have daily spending limits that are established by the financial institution.

How a Credit Card Works

Credit cards serve as a line of credit, where you can make purchases by borrowing money, and you pay this borrowed money back at the end of the payment period – usually around one month. If you do not pay your credit card bill in full when it is due, you will have to pay interest on the amount you owe. The interest can vary depending on the credit card you have.

The Perks of Credit Cards

If used responsibly, credit cards can help build your credit. Some cards also allow access to rewards and cash back bonuses that can pay off over time. These rewards can be for hotels, travel, gas, cash, or more. Like a debit card, using a credit card means your payments have some protection to help keep you safe from fraud. Credit cards can also help you when emergency expenses occur. If you’re in a pinch, as long as you know you will be able to pay your bill, it can be helpful to have an emergency credit card on hand. Depending on the rate of your credit card, you may be able to move higher rate credit card balances to a lower rate credit card.

The Cons of Credit Cards

If you don’t pay your credit card payments in full and on time, you can incur some serious interest payments. This situation can quickly get out of hand and build up to quite a lot of credit card debt. Additionally, if you continue to make purchases while carrying a balance, you will incur interest on those new purchases from day one. If you don’t keep up with your credit card payments, this may also negatively impact your credit score.

Credit Card vs. Debit Cards: The Breakdown

Credit or Debit Card: Choosing the Best Option for You

Are you trying to build credit? Do you want to have a line of credit for an emergency? A credit card can help with that. Do you just need easy access to your checking account? Want to pay your bills online? A debit card is probably sufficient. However, since debit cards don’t incur fees or harm your credit score, you may decide that having both works for you. Many different types of credit cards exist to fit your lifestyle, helping you build credit and often earning rewards. For example, University Credit Union offers low APR* credit cards with rewards or cash back for every dollar you spend. If these options appeal to you, a UCU credit card may be the right choice for you.

If you’re a homeowner and you have built up some equity in your home, you may be eligible for a home equity line of credit (HELOC). A HELOC can be an effective way to finance home improvements and other short-term projects and goals. How can you do this? Let’s start with a quick introduction on how these lines of credit work, and an overview of HELOC requirements.

What is a HELOC, and what can you do with it?

Essentially, when you take out a HELOC, you borrow against your home’s equity. With this type of loan, you borrow money from a revolving line of credit.  People frequently take out HELOC’s when they are working on home improvement projects, consolidating debt, or paying tuition.  This is in contrast to the alternative, a home equity loan, that offers an upfront lump sum at a fixed interest rate.  HELOCs work similarly to credit cards. You borrow as-needed, up to a certain limit, paying on the interest as you go. In this case, the credit limit is determined by subtracting your remaining mortgage balance from the value of your home. University Credit Union members can borrow up to 80% of this amount, also known as the combined loan to value (CLTV) ratio. A lender typically gives borrowers a 10-year draw period, during which they can withdraw money from their HELOC. During the repayment period that follows, you can no longer borrow. Repayment periods usually last up to 25 years, and you pay on both outstanding principal and interest owed. Generally, HELOCs have variable interest rates, meaning they can vary with baseline interest rates. However, if you have a good credit score, you will likely enjoy more favorable rates.

An overview of HELOC requirements

At University Credit Union, we understand that each borrower and every situation is different. That’s why we work with you to help you save more and reach your financial goals.

With that in mind, your HELOC process and experience depend on a variety of factors. Here are UCU’s requirements:

• A debt-to-income ratio (DTI) less than or equal to 43%
• A credit score of at least 620
• Home value must be a minimum of 20% more than what you owe

Your debt-to-income ratio assesses how much of your income goes to monthly debt payments. When you apply, you’ll be asked to provide supporting documentation. Information requested may include: 

• Proof of income and employment (examples of proof of income include W2s, 1099s, and pay stubs)
• Mortgage Statement and Note
• Homeowner’s Insurance
• Additional relevant information (proof of rental income, divorce decrees, evidence of bankruptcy and foreclosure)

After You Apply

Once you’ve filled out an application, you’ll be provided with disclosure documents within 3 days. This is your opportunity to review all the terms and conditions of your HELOC. During this process, your home will likely be appraised for its value. An appraisal is a common part of determining loan amounts. Finally, there is a closing on your loan. One you’ve signed the remaining required documents, you can then access your line of credit.

The University Credit Union Advantage

With University Credit Union, our members enjoy easy, instant online access to their HELOC funds and no annual fees. In particular circumstances (i.e., if you’re using it for specific home improvements or upgrades), the interest may be tax-deductible. If you have a stable source of income and want to borrow a minimum of $25,000, a HELOC might be a good fit for you. Talk it over with our experienced representatives to explore your options. Credit union membership offers a more personalized member service experience. Because credit unions are not-for-profit and member-owned, they can afford to reward borrowers with lower interest rates. If you’re interested in taking out a HELOC, click below to check out our rates! 

SEE OUR LOW RATE HELOCS

When it comes to borrowing money, you might be curious about the difference between personal loans vs. lines of credit, how interest rates work, and how funds are paid out? In the meantime, whether you’re considering debt consolidation or a home improvement project, here’s a breakdown. At University Credit Union, we’ll help you sort through personal loans and lines of credit to find the best solution for your financial situation.

Personal Loans

Most personal loans are unsecured, meaning you don’t have to put up any kind of collateral, such as a car. Personal loans are repaid over a period of time with specific or fixed terms. You receive your loan amount upfront in a lump sum that you pay off throughout the remainder of the loan term. This option is best for one-time purchases. University Credit Union offers personal loans at competitive rates. You can choose from a variety of repayment terms to suit your goals and situation. UCU offers terms up to 60 months. Personal loans are typically used to pay for a one-time expense, such as a wedding or a big vacation. Another common use is to consolidate debt, such as your school expenses and credit card debt.

Lines of Credit

Lines of credit are very similar to credit cards as they are a revolving account. They are also unsecured and have a variable interest rate. Lines of credit are best used when you want to have available cash for purchases or other expenses. During your draw period–typically about ten years–you have access to your available credit limit; allowing you to take out money as needed in making payments only on what you use. You can take out money as needed up to a certain credit limit, making payments as you go.

Uses for Personal Lines of Credit

Common uses for personal lines of credit include:

• Emergencies
• Consolidation of debts with higher interest rates
• A major project or expense (i.e. medical, a home improvement project, or higher education expenses)

University Credit Union offers Home Equity Lines of Credit (HELOCs), in which you borrow against the equity of your home. If you are a homeowner who has built up enough equity, you may find that a HELOC is the right option for you. Especially if you are planning to use the funds for home improvement or construction, the interest might even be tax-deductible. If you’re considering paying off your student loans with a personal loan, UCU also offers student loan refinancing, or new student loans for your graduate or undergraduate program.

How Do I Qualify for a Personal Loan or Line of Credit?

Qualifying for either of these personal loan types is fairly straightforward. UCU’s lending team is available to answer your questions and help find the right fit for you. One of the benefits of taking out either a personal loan or line of credit through a credit union is that they are not-for-profit financial institutions and member-owned. That means, unlike a traditional bank that receives compensation from financial products and services, credit unions can offer lower interest rates to members. It also means that we can work with you if you have less-than-perfect credit. Keep in mind, the higher your credit score, the lower your interest rate will be. University Credit Union will help you find the right solutions for your financial circumstance so that you can accomplish your goals. We also offer our members help with resources to help you find more effective ways to save, spend and invest.

University Credit Union Personal Loans & Lines of Credit

If you think a personal loan or line of credit might be right for you, University Credit Union can help. UCU’s Lending Team is ready to help you! Please give us a call at 800.UCU.4510. Or, feel free to apply online if you’re ready. Not sure whether a personal loan or line of credit is right for you? Check out our rates to help you decide.

Do you have a cash back credit card in your wallet? If not, reconsider the card you’re currently carrying! A cash back credit card gives you back a percentage of the charges you make monthly, essentially paying you to shop as you normally would. And if you’re someone who uses the same one or two cards for every purchase, having a cash back card on hand could reap big rewards. Here’s everything we know about the many advantages of carrying a card that gives you cash back rewards, along with tips on how to get the most out of it.

How do I get a cash back credit card from UCU?

Scoring a card that pays you cash back is as simple as finding the card that sounds like it fits your buying patterns and then applying. You’ll have a better chance of obtaining your dream card if you have a favorable credit score. Opt for a card that’s going to give you cash back for things you already do, such as buying gas, buying groceries or eating out. If you apply for a card that gives you cash back on airline travel, for instance, and you’re someone who infrequently flies, you won’t get the most advantage from your card. UCU’s cash back credit card provides unlimited cash rewards for every purchase made. Simply apply online, in person, or over the phone.

What kind of cash back credit cards are out there?

Cash back credit cards offer cash rewards for qualified purchases, which may include:

• Buying groceries
• Using ride-share services
• Eating at local restaurants
• Shopping online
• Ordering food in
• Traveling
• All purchases

The cash back credit card from UCU rewards you for every purchase you make, and deposits cash into your checking account monthly for easy use. Get rewarded for making the daily transactions you already make and earn bigger rewards over time.

How much cash will I get back with UCU?

Cash back cards offer a percentage back of the amount you charge monthly. The UCU cash back card offers higher rewards for an introductory period which gives you a huge bonus in your first few months. If you charge a total of $500 in qualifying purchases on your card in one month, your cash back on a 1.5% card would be $7.50. On a 3% card, it would be $15. Cash back rewards can add up quickly, especially for those who use credit almost exclusively. Click here to learn more about the cards that UCU offers.

Are cash back credit cards more expensive?

Cash back cards aren’t any more expensive to carry than other cards. UCU charges no annual or foreign transaction fees, and our interest rates are often much lower than alternatives. Read the application thoroughly so you’ll have an idea of how much the lender charges in monthly interest. Or, pay your credit card in full each month to avoid accruing interest fees altogether. Make payments on time and pay more than the minimum each month to boost your credit rating while enjoying hard cash rewards.

How many cash back credit cards should I carry?

Your best option is always simplification. Pick a single cash back credit card that offers the best rewards on the goods and services you frequently use. If you split your purchases between multiple cards, you’ll earn less in rewards each month. With cash back cards, fewer is better. It also saves you on interest charges if you only use one cash back card. Prevent yourself from becoming over-extended or carrying a debt-to-credit ratio that negatively affects your credit score.

Apply for UCU’s cash back credit card today

With no annual fees and unlimited rewards, the UCU cash back credit card is a great addition to your wallet.
 

More About Our Cash Back Credit Card

In today's age of cards and instant-pay options, does it make sense to open a checking account? 

If you're new to the world of personal finance, a checking account is one of the first options to consider. Checking accounts allow for easy access of funds and assist with budgeting. Have your paychecks conveniently direct-deposited, and pay bills right from your account with the touch of a button. Also, you can check your account activities and perform transactions such as check deposits 24/7 with mobile banking.

You can also use your ATM or debit card to easily withdraw funds fee-free from over 30,000 CO-OP ATMs nationwide. A checking account is a secure way to store funds and access them when needed. What’s more, the money you deposit into your checking account is insured from fraud loss.

How can I open a University Checking Account?

Opening a University Checking Account can be accomplished several ways. You can do so online, by phone, or in-person at your local branch. To open an account, you'll need the following information:

• Social security number
• Home address
• Driver's license or state ID card
• Date of birth
• Minimum deposit

Once you've applied online, UCU may run a credit check to review your financial history. Once approved, your checking account will be opened and you will be issued a debit card and starter checks if needed.

What are the benefits of opening a University Checking Account?

With your new University Checking Account, you’ll have electronic payment options, which makes paying bills painless. Mobile and online banking access are available for your busy and on-the-go lifestyle. Mobile and online banking allows you to transfer, verify, or deposit your money from the comfort of your own home. Other features include:

• Setting account and card alert notifications
• Transferring funds to friends and family through Pay a Person (P2P)
• Online access to eStatements once enrolled
• Setting up automatic withdrawals or payments

UCU’s bill pay, available in online and mobile banking, features let you set up recurring payments for monthly bills such as utilities and car payments. Once you enroll, you can simply set it and forget it. As long as you have sufficient funds in your account at the time of withdrawal, you'll incur no additional fees.

What fees are associated with a University Checking Account?

We understand, no one likes to pay fees. That’s why a University Checking Account has no monthly service fees. Being a not-for-profit financial cooperative, we’re able to pass along savings to our members.

Make sure you understand the fees associated with any checking account before you sign up. These may include:

• Monthly service charge
• Overdraft fee
• Bill-pay fee
• Wire-transfer fee
• Card replacement fee
• ATM fee

At University Credit Union, we want our members to use their checking account without hassle or headache. Learn more.

Open a checking account with UCU today

At UCU, our University Checking Account gives you the possibility to earn up to 5.00% APY* just by banking the way you already do!

Here’s how it all adds up:

• Earn 1.00% APY in dividends with at least 25 monthly transactions and eStatements
• Earn 1.00% APY for a UCU Auto Loan
• Earn 1.00% APY for a UCU Credit Card
• Earn 1.00% APY for a UCU Consumer Loan
• Earn 1.00% APY for a UCU Home Loan or HELOC

Life is better with a UCU checking account. Open one today!
 

Apply Now

Summer is synonymous with adventure, relaxation, and new experiences. Whether you dream of a cross-country road trip, a serene beach getaway, or exploring a vibrant new city, the key to a stress-free summer vacation lies in smart financial planning. At University Credit Union (UCU), we believe your financial well-being should support your life's adventures. Here's how you can budget for your summer travel without the stress, focusing on smart money management and how financial tools can help.

Smart money management and planning

Before you even book your first flight or hotel, take time to assess your financial situation.

Set a realistic budget: Determine how much you can comfortably spend on your trip without compromising your financial stability. Consider all potential expenses: transportation, accommodation, food, activities, souvenirs, and a buffer for unexpected costs. Be honest with yourself about what you can afford.

Track your spending: Use budgeting apps or spreadsheets to monitor your income and expenses. This will help you identify areas where you can save more for your travel fund. Understanding where your money goes daily is the first step to finding extra cash for your trip.

Set savings goals: Once you have a budget, set clear savings goals. Automate transfers from your checking account to a dedicated savings account to consistently grow your travel fund. Even small, regular contributions add up quickly.

For more comprehensive resources and tools to help you develop strong financial habits, visit MyMoney.gov, a U.S. government website dedicated to financial education.

Your checking account: The core of your travel fund

Your checking account is the foundation of your financial planning. It's where your income typically lands, and from which most of your bills are paid. When it comes to travel, your checking account serves as the central hub for your dedicated travel savings.

Dedicated savings: Consider setting up a separate savings goal or even a distinct savings account linked to your primary checking account. This keeps your travel funds separate from your everyday spending, making it easier to track your progress and avoid accidentally dipping into your vacation money.

Access and management: Modern banking, often accessible through digital platforms, allows you to manage your travel budget on the go, transfer funds, and keep an eye on your spending, no matter where your adventures take you. Many financial institutions, like UCU, offer checking accounts with features designed to help you manage your money efficiently.

Credit cards: A tool for smart spending and rewards

Credit cards can be a valuable tool for travel, offering convenience, security, and rewards. However, responsible use is crucial to avoid debt that can quickly overshadow your vacation memories.

Leverage rewards: UCU's Rewards or Cash Back Credit Cards offer great benefits to help you save for travel or benefit on travel purchases. Strategically using a card that aligns with your spending habits can help you accrue benefits that can significantly offset travel costs, such as flights or hotel stays.

Security and convenience: Credit cards offer a layer of fraud protection that debit cards might not, making them safer for travel purchases. They also provide a convenient way to pay for expenses abroad.

Pay in full: To truly benefit from credit card rewards and avoid costly interest charges, always aim to pay your balance in full each month. Carrying a balance negates any rewards earned and can lead to financial stress long after your trip ends. Explore options for credit cards that offer competitive rates and benefits that fit your spending style.

Personal loans: Bridging the gap for summer travel

Sometimes, even with careful planning, you might need a little extra financial flexibility to make your summer travel dreams a reality, especially for bigger, once-in-a-lifetime trips.

Consider a travel-specific loan: UCU's Summer Loan is a personal loan designed to help you maximize your summer fun. This loan provides a lump sum of funds to cover larger travel costs.

Evaluate the terms: Before taking out any loan, understand the interest rates, repayment terms, and any associated fees. Ensure the monthly payments fit comfortably within your post-vacation budget. A loan should be a thoughtful decision to enhance your experience, not create future financial strain.

Flexible loan management: Options for existing commitments

If you have existing loan commitments, managing them strategically can free up funds for your summer travels.

"Skip a pay" options: Some financial institutions may offer a "skip a pay" option for eligible loans, allowing you to defer a payment for a month. This can provide temporary financial relief, freeing up funds that can be reallocated to your vacation budget.

Understand the impact: While "skip a pay" can offer immediate flexibility, understand that interest may still accrue during the skipped period, and your loan term might be extended. Always check with your credit union or lender to see if this option is available for your specific loan products and to understand any associated terms and conditions.

By combining smart money management practices with the beneficial financial tools available, you can enjoy a fantastic, stress-free summer vacation without compromising your financial peace of mind. Start planning your budget today and make this summer one to remember!

Stay safe, stay smart

Fraud and scams are unfortunately a part of modern life, and they’re only getting more sophisticated. From fake texts that look like they’re from your financial institution to clever online cons and impersonators, scammers are finding new ways to try and separate you from your money.

At University Credit Union (UCU), your safety is more than just a priority, it’s a responsibility we take seriously. So here are some key tips to help you spot and avoid common scams, along with ways we actively work to keep you and your finances protected.

What you need to watch out for

Today’s fraudsters are creative, but their methods often follow familiar patterns. You’ve likely encountered phishing emails that ask you to “verify your account” or strange text messages with urgent warnings. Some scams come in the form of calls from someone pretending to be from a government agency or even a loved one in distress. Others involve fake online shops or investment “opportunities” that sound great but are too good to be true.

In recent years, we’ve also seen an increase in those all-too-common romance scams, where someone builds a connection online only to later ask for money. These tactics prey on trust, emotion, and urgency…and no one is immune.

We have your back

UCU offers several built-in safeguards to help you detect and avoid fraud before it happens.

For starters, our fraud monitoring systems work around the clock, scanning for suspicious activity. If something doesn’t look right, we’ll reach out to confirm the transaction. You can also take control directly from the UCU mobile app, where you can lock and unlock your card instantly, set transaction alerts, and manage spending limits for extra peace of mind.

Perhaps one of the most unique benefits at UCU is that nearly every single team member is a Certified Credit Union Financial Counselor (CCUFC). That means if something feels off—whether it’s a phone call you received or an email that made you nervous—you can talk with someone who’s trained to help you navigate it. We’re not just here to process transactions. We’re here to guide and protect you.

Tips for staying fraud-free

So, what can you do to stay ahead of those pesky scammers? Well, it starts with a healthy dose of skepticism. Don’t click on links from unfamiliar senders, no matter how enticing or convincing the subject line, body, or text message may seem. Don’t give out your account information or passwords, ever, not even if the message looks official, says it’s from UCU or another business that you use, or mentions something personal about your life. And if someone contacts you unexpectedly and asks for money or sensitive details, pause and verify. There is no shame in hanging up and then making a quick call to UCU to confirm. Double-checking before doing anything else can make all the difference.

It's also a good idea to regularly review your account activity through digital banking and report anything unfamiliar right away. The faster we catch it, the faster we can act.

What to do if you think you've been targeted

If you suspect fraud or believe your account has been compromised, contact UCU immediately. Our team will help secure your account, walk you through next steps, and provide support if additional reporting is needed.

Scammers may be persistent—but hey, so are we. Together, we can build awareness, share resources, and create a community that looks out for one another!

We're in this together

Fraud prevention isn’t just about technology; it’s about education, partnership, and trust. UCU is proud to serve our members with tools and resources that make banking safer and smarter. If you have questions, concerns, or just want to learn more about protecting your finances, we’re always here to help. Contact us here if you’d like to dive deeper into this discussion. Every tool you gain and learn is a victory against fraud.

Let’s stay safe together. Learn more here, watch this video, or stop by your local UCU banking hub to speak with a certified expert.

When Talia graduated from college last spring, she was filled with hope for the future. A first-generation college student, she had just started a full-time job in student services at her alma mater. With a steady income and her degree in hand, she felt ready to step into adulthood, but despite her best efforts, managing her finances still felt overwhelming.

Like many recent grads, Talia found herself stuck in a cycle where money came in and went out almost as quickly. Her checking account, which was held at a traditional bank, offered virtually no interest and often came with unexpected fees. That, combined with the rising cost of living, left her feeling anxious and financially uncertain.

“I remember checking my account at the end of the month and just hoping I hadn’t missed something that would trigger another fee,” Talia shared. “It was exhausting.”

Discovering University Credit Union

Talia first heard about University Credit Union through her job on campus. She noticed their involvement in community events, such as how they sponsored the food pantry on campus, their hosting of financial literacy sessions, and their constant support for athletic programs. Over time, she became curious. She started asking coworkers about their experience with UCU and heard consistently positive feedback.

One day, a colleague mentioned UCU’s University Checking Account. The name caught Talia’s attention. She’d never heard of a checking account that actually helped people earn interest on their money, or at least not one without strings attached.

At first, she was skeptical, but as she learned more it was clear that UCU was intentional about its services and providing financial support to its members. It was founded by the university community, for the university community. There were no monthly fees, no minimum balance requirements, and the account really did offer a competitive interest rate.

“I didn’t believe it at first,” she said. “I thought there had to be a catch. But the more I learned about UCU, the more I felt like this was a place I could trust.”

Talia opened her UCU University Checking Account that same week.

Building a better financial foundation

Within just four months, Talia was able to save over $300 by not paying account fees and gaining interest on her checking account balance. 

She had set a small goal to create an emergency fund, something she’d always wanted to do but couldn’t manage with her previous bank. With UCU’s interest earnings and the support of budgeting tools available through their mobile app, she was able to make consistent progress. Her savings became a point of pride.

“For the first time, I wasn’t just surviving. I had a cushion. I could breathe a little easier.”

Using UCU’s mobile banking tools, Talia also got more organized. She set up transaction alerts, tracked her monthly expenses, and used the budget tracker to plan ahead. These small actions helped her feel more in control of her finances and encouraged her to continue building good habits. Within one year, Talia was able to save $2,500 for her emergency fund.

“I used to avoid looking at my bank account,” she said. “Now, I check in every few days just to see how I’m doing. It’s not scary anymore.”

Looking ahead with confidence

Today, Talia is thinking about her future in a new way. With her emergency fund in place and her checking account continuing to earn interest, she has started saving for graduate school and is researching affordable car options.

The financial stress she once carried with her has faded into the background. She credits the shift not just to the account’s features, but to the experience of banking with a credit union that prioritizes its members.

“UCU doesn’t feel like a bank to me,” she explained. “It feels like a partner. They’re on my side.”

What Talia found with UCU’s University Checking Account wasn’t just a better place to put her money. She found a new level of financial confidence and a sense of control she hadn’t experienced before.

Explore what’s possible with UCU

Talia’s story is just one example of how UCU’s University Checking Account can make a meaningful difference in members’ lives. With competitive interest rates, no monthly fees, and digital tools designed to help members succeed, it’s more than a checking account. It’s a smarter way to bank.

If you’re ready to make your money work harder without giving up flexibility, you can learn more about UCU’s University Checking Account here.

What could you earn with UCU’s University Checking?

Switch now, and earn more!

If there is one thing the university community knows, it is that learning never really stops. While you might be used to sharpening your skills in the classroom, research lab, or office, your financial know-how deserves the same level of attention!

For some, that means figuring out how to stretch the first paycheck from a new role. For others, it means deciding how to make the most of decades of hard work as retirement gets closer. Though, for many, it is managing the space in between, balancing day-to-day expenses with long-term goals while still finding room for the things that make life enjoyable. The good news is that you do not need to overhaul your life to make progress! Small, intentional changes combined with the right tools can set you up for lasting financial well-being.

Early career focus

For instance, if you are early in your career, focus on building a solid foundation. Start with an emergency fund so that a flat tire or medical bill does not throw your budget off track. Contribute to retirement right away, even if it is a modest amount. Thanks to compound growth, starting early makes a huge difference over time. A University Credit Union High Yield Savings account, for example, can help your safety net grow faster, while a Smart Checking account keeps everyday spending organized and easy to track.

Mid-career goals

Of course, as you move into the middle of your career, priorities often shift from simply getting by to making real progress toward those goals. This is the perfect time to explore your employee benefits in detail. Retirement matching programs, health savings accounts, and tuition assistance can add up to thousands in value each year, but only if you take full advantage of them. You may also begin thinking about bigger goals like buying a home, renovating your space, or helping a child or grandchild with tuition. UCU’s Home Equity Line of Credit offers flexible access to funds so you can pursue these milestones without depleting your savings.

Near the retirement finish line

And when retirement is on the horizon, stability and protection become the priorities. Review your plan to ensure your savings, investments, and projected income align with your lifestyle goals. Paying down remaining debt can free up income for travel, hobbies, or simply peace of mind. UCU’s Retirement and Investment Services can help you fine-tune your plan, and Certificates provide a secure way to preserve and grow your savings in the final years before you step away from work.

In the end, financial wellness is not something you achieve once and check off the list. It is a lifelong process of learning, adjusting, and making informed choices. That all being said, we are hosting Plan, Save, Retire: Financial Wellness for University Employees, a free webinar for the entire university community. It is a chance to explore budgeting strategies that really work, learn how to make the most of your benefits, and pick up practical retirement planning tips you can start using right away. 

Let this summer be the season you refresh your finances, whether you are just getting started or just a few steps from retirement. Register here to join us and take the next step in your financial journey. If you are unable to attend, a recording of the event will be available on our YouTube channel here. We look forward to assisting you on your financial journey!

Securing your finances: A guide to safer money transfers

In today's fast-paced world, payment apps like Zelle, Venmo, and Cash App have become indispensable tools for instantly sending and receiving money. Whether you're splitting a dinner bill with friends, paying your share of rent, or sending money to family, these services offer incredible convenience. However, this ease of use also presents a significant opportunity for fraudsters. Unlike credit card transactions that often come with built-in buyer protection, transfers on many of these apps are like sending cash – once it's gone, it's nearly impossible to get back. 

Understanding the dangers and taking proactive steps to protect your money is crucial. Let's delve into the common fraud tactics and the essential safety measures you should adopt.

The dangers of fraud on payment apps

Scammers are constantly evolving their tactics, but several common themes emerge when it comes to defrauding users on payment apps:

• Impersonation scams: This is perhaps the most prevalent. Scammers pretend to be someone you know and trust – a friend, family member, or even your bank. They might send urgent messages claiming an emergency or a suspicious account activity, pressuring you to send money or provide sensitive information. They can even spoof caller IDs to make it appear as if the call is coming from your bank.
• "Accidental" overpayment/refund scams: You're selling an item online, and a "buyer" sends you more money than the agreed-upon price, claiming it was an error. They then ask you to refund the "excess" amount via the payment app. The catch? Their initial payment was fake or will eventually be reversed, leaving you out of pocket for the amount you refunded.
• Purchase scams (marketplace/ticket scams): You find a great deal on concert tickets, a pet, or another item on an online marketplace. The seller insists on payment via Zelle or a similar app, often citing urgency or convenience. After you send the money, the item never materializes, or the tickets are fake. Payment apps typically offer no purchase protection for goods and services.
• Account takeover scams: Through phishing emails, texts, or malicious links, scammers trick you into revealing your login credentials or one-time passcodes. Once they have access to your account, they can transfer funds out without your explicit permission.
• "Pay yourself" scams: A scammer, often posing as your bank, might tell you there's a problem with your account and instruct you to "transfer money to yourself" to a new, secure account. In reality, you're sending money directly to the scammer's account.
• Employment or rental scams: Fraudsters offer fake job opportunities or rental properties, demanding upfront payments for equipment, training, or deposits via the payment app. These "opportunities" are entirely fabricated, and your money disappears.

Steps to take for safe transfers

You can significantly reduce your risk by following these essential safety steps:

• Only send money to people you know and trust: This is the golden rule for apps like Zelle. They are designed for transactions between trusted individuals. If you wouldn't hand someone cash, don't send them money via these apps.
• Double-check recipient information (every time!): A single wrong digit in a phone number or a typo in an email address can send your money to a stranger. Always verify the recipient's name, phone number, or email address directly with them outside the app (e.g., a quick text or phone call). If you're sending money for the first time, consider sending a small test amount ($1) to confirm it goes to the correct person before sending a larger sum.
• Treat payments like cash: Once you authorize a payment, it's often instantaneous and irreversible. This means there's generally no recourse if you send money to a scammer or to the wrong person. Be as cautious as you would be with physical cash.
• Enable multi-factor authentication (MFA): This adds an extra layer of security to your account. MFA typically requires a second form of verification, such as a code sent to your phone or a fingerprint scan, in addition to your password.
• Use strong, unique passwords: Create complex passwords that are difficult to guess and avoid using the same password across multiple accounts. Consider using a reputable password manager.
• Be wary of urgent requests and unsolicited communications: Scammers often create a sense of urgency to bypass your critical thinking. If someone, even if they claim to be from your bank or a loved one, demands immediate payment or asks for sensitive information via text, email, or an unexpected call, be highly suspicious.
• If your bank calls you: Hang up and call your bank directly using the official number found on their website or the back of your debit card. Never use a number provided in an suspicious message or call.
• If a friend or family member makes an unusual request: Contact them directly through a known method (not replying to the suspicious message) to verify the request.
• Understand purchase protection limitations: For buying goods or services from unknown individuals or online marketplaces, credit cards often offer better consumer protection. Payment apps are generally not designed for commercial transactions where purchase protection is expected.
• Monitor your accounts regularly: Keep a close eye on your bank statements and transaction history for any unauthorized activity. Set up alerts for all transactions on your payment apps and bank accounts.
• Avoid public wi-fi for financial transactions: Public Wi-Fi networks are often unsecured and can expose your sensitive information to malicious actors. Only access your payment apps and banking sites on secure, private networks.
• Report suspicious activity immediately: If you believe you've been scammed or your account has been compromised, contact your financial institution and the payment app's support team immediately. Report the incident to the Federal Trade Commission (FTC) at ReportFraud.ftc.gov.

By exercising caution and following these guidelines, you can harness the convenience of payment apps while safeguarding your hard-earned money from the ever-present threat of fraud. Stay vigilant, stay secure!

Securing your future: A comprehensive guide to retirement

You may be surprised to learn that the National Council on Aging (NCOA) reports that most older Americans do not have the financial resources necessary to withstand a "financial shock." This could include unexpected long-term care needs, significant health issues, or a sudden loss of income due to divorce or widowhood. In fact, an analysis of 2024 data revealed that 80% of Americans 60 and older are either financially struggling or at risk of falling into economic insecurity as they age.

Retirement is often envisioned as a time to relax and enjoy life but achieving a secure and comfortable retirement takes careful planning. At Copper Financial, we understand that life is full of twists and turns, and we’re committed to helping you navigate them with confidence. Our personalized financial planning services are designed to help you assess whether you're ready to handle whatever comes your way. Together, we’ll build a retirement strategy designed to help you manage financial uncertainty while supporting your personal goals and aspirations, making your golden years as fulfilling as possible.

Here are five key factors to check to see if you're on track for a secure retirement:

1. Evaluate your savings

Have you saved enough to sustain your desired lifestyle in retirement? Financial experts suggest having at least 10–12 times your annual income saved by the time you retire. However, this figure can vary depending on factors such as your retirement goals, anticipated expenses, and life expectancy.

Working with a Wealth Advisor can help you establish a personalized retirement savings target. Together, you can evaluate whether your current plan is sufficient or if adjustments are needed to bridge any gaps.

2. Plan for healthcare costs

Healthcare is one of the most significant expenses in retirement, and it can quickly derail even the most well-structured plans. Understanding what Medicare covers—and where coverage gaps exist—is essential.

Explore supplemental insurance options to fill those gaps, and budget for long-term care expenses, which can increase as you age. Setting aside dedicated funds for healthcare can provide peace of mind and protect your overall financial plan.

3. Diversify your income streams

Social Security is a vital source of income for many retirees, but it’s often insufficient to cover all expenses. To mitigate financial risks, aim to diversify your income sources.

Consider options such as annuities, rental income, or investment portfolios. A diversified income strategy not only provides stability but also cushions against market fluctuations or unexpected financial shocks, giving you greater confidence in your retirement security.

4. Minimize debt

Entering retirement with substantial debt can significantly strain your finances. Prioritize paying off high-interest debt, such as credit card balances, and consider reducing other obligations, like mortgages or car loans.

Living debt-free in retirement allows your income to go further, enabling you to focus on essentials and enjoy discretionary spending without added stress.

5. Build an emergency fund

Even in retirement, life can be full of surprises. Having an emergency fund with 6–12 months’ worth of living expenses is essential for weathering unexpected situations, such as home repairs, medical emergencies, or family support needs. By keeping this fund separate from your long-term investments, you can address unforeseen expenses without jeopardizing your retirement portfolio.

Retirement should be the time to enjoy the fruits of your labor—a period of fulfillment and relaxation. Regularly evaluating these key factors can help you stay on track to achieve the retirement you’ve always envisioned.

Whether you’re just beginning to plan or reassessing your current strategy, a Wealth Advisor can provide personalized guidance. Together, you can navigate your financial future with confidence and help place you on a secure, rewarding path to financial well-being. Schedule a complimentary consultation today.

Securities and advisory services offered through Copper Financial Network, LLC (“Copper Financial”), a broker-dealer and SEC registered investment adviser. Member FINRA/SIPC. Your Credit Union has contracted with Copper Financial to make non-deposit investment products and services available to its members. Representatives are registered with Copper Financial. Your Credit Union and its investment group (if applicable) are not broker-dealers or investment advisers and are not affiliated with Copper Financial. For important disclosures from Copper Financial please visit here. 

Copper Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. 

Link to the Copper Financial Customer Relationship Summary

Investment and insurance products offered through Copper Financial:

Your Credit Union has contracted with Copper Financial to provide investment products and services to its members. Your Credit Union is not a client of Copper Financial. Your Credit Union will receive compensation from Copper Financial if you open an account with Copper Financial. This compensation creates an incentive for your Credit Union to refer clients to Copper Financial. For additional information please see the Program Credit Union Referral Fee Disclosure available here.

Crafting Your Investment Portfolio: 5 Questions to Ask Your Wealth Advisor

“An ounce of prevention is worth a pound of cure” is a classic adage about the importance of seeing your doctor annually. The same concept applies to your financial health. It’s important to take the time to meet with your Wealth Advisor every year to review your financial plan to ensure you are on track.

Your financial plan is more than just your investments. It’s a strategic deep dive into your financial well-being and future goals. By focusing on these key questions, you create the opportunity to align your financial plan with your life’s aspirations.

1. Am I on track to meet my goals?

When you first started working with a Wealth Advisor, you probably identified several financial goals, such as buying a house, sending a child to college or saving for retirement. Ask if you’re still on track to meet these goals. And if anything has changed, make sure you’re communicating this to your advisor so they can advise on potential adjustments to meet your new goals.

2. Is my portfolio well-positioned in the current market environment?

When markets are volatile, it can be tempting to retreat from the market or opt for a more conservative portfolio. However, an overly conservative portfolio could result in lower long-term returns and can be risky even if you're in, or close to, retirement because inflation erodes purchasing power over time. An advisor can help identify a well-diversified mix of investments appropriate for your situation and risk tolerance that can position your portfolio for long-term growth. As the market changes, your advisor will continue to monitor your portfolio and may propose rebalancing as needed.

3. Am I prepared to handle unexpected events?

Life circumstances, such as job loss, divorce or illness are just some of the unexpected events that can throw a financial plan off track. An advisor can help develop contingency plans for situations that could put your family’s financial future at risk.

For scenarios that would significantly change your income, an advisor can help determine how much cash should be available in an emergency fund.

4. Am I maximizing tax savings and other tax-smart strategies?

Capital gains and losses can have a big effect on your tax bill. Whether they help or hurt, it’s good to be prepared for what’s coming. Depending on your situation, it could make sense to consider tax-loss harvesting. With tax-loss harvesting, you may choose to sell some investments at a loss, then use those losses to offset capital gains or other taxable income. Your Wealth Advisor can review your investment portfolio and tell whether that strategy applies to you. Additionally, it’s essential to consult with a qualified tax professional to ensure all tax implications are carefully considered and properly managed.

Conversely, if you have assets that have significantly increased in value, an advisor may be able to suggest strategies to help reduce capital gains, such as charitable gifting.

5. What will my legacy look like?

After years of hard work and dedication, building a legacy you can pass along may be one of your top priorities. You may be thinking how you'll share the fruits of your labor with your loved ones, your community and the causes close to your heart. An advisor can help you explore legacy and estate planning, considering your full financial picture.

Life is filled with changes, and your financial plan will need to evolve too. Meet with a Wealth Advisor on a regular basis. And when you have a significant life change, make sure you’re working with your Wealth Advisor to update your financial plan, so it reflects your family's current needs and goals.

Securities and advisory services offered through Copper Financial Network, LLC (“Copper Financial”), a broker-dealer and SEC registered investment adviser. Member FINRA/SIPC. Your Credit Union has contracted with Copper Financial to make non-deposit investment products and services available to its members. Representatives are registered with Copper Financial. Your Credit Union and its investment group (if applicable) are not broker-dealers or investment advisers and are not affiliated with Copper Financial. For important disclosures from Copper Financial please visit here. 

Copper Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. 

Link to the Copper Financial Customer Relationship Summary

Investment and insurance products offered through Copper Financial:

Your Credit Union has contracted with Copper Financial to provide investment products and services to its members. Your Credit Union is not a client of Copper Financial. Your Credit Union will receive compensation from Copper Financial if you open an account with Copper Financial. This compensation creates an incentive for your Credit Union to refer clients to Copper Financial. For additional information please see the Program Credit Union Referral Fee Disclosure available here.

As the Federal Reserve eyes potential interest rate cuts, it’s a good time for you to get financially savvy. While rate cuts are designed to stimulate the broader economy, they have a direct and often significant impact on your personal finances, from the loans you take out to the money you have in savings.

Here’s a look at what Federal Reserve rate cuts mean for you and how you can prepare to make the most of this changing financial landscape.

The forecast: What to expect from the Fed rate cuts

Based on economic forecasts and recent Fed discussions, many experts anticipate the Federal Reserve will begin cutting rates later this year, with multiple reductions possible over the next several months. The primary goal is to encourage economic growth by making it cheaper for businesses and consumers to borrow money.

The good news for borrowers

For UCU members, a rate cut is great news if you are considering a new loan or have existing high-interest debt.

• Mortgages and Auto Loans: As the Fed lowers rates, it becomes less expensive for financial institutions to borrow money, a benefit they often pass on to consumers. If you’ve been waiting to buy a new home or vehicle, lower rates could mean a lower interest rate on a new loan and a more affordable monthly payment.
• Refinancing High-Interest Debt: This is a prime opportunity to save money on existing debt. If you have an adjustable-rate mortgage, high-interest credit card debt, student loans, or a personal loan from a higher-rate environment, refinancing could lock you into a lower, fixed rate for the life of the loan.

The challenge for savers

While borrowers cheer, savers may see a shift. When the Fed cuts rates, interest rates on savings accounts and money market accounts typically decline. This means your savings may earn a little less interest.

• Lock In Rates with a Certificate: To protect your savings from falling rates, consider a Certificate of Deposit. A certificate allows you to lock in a specific, higher interest rate for a fixed term. This is an excellent way to secure a strong return on your money before rates drop. UCU currently has two great certificate options, a shorter term Elite Earnings Certificate and a longer term Lock and Roll Certificate, designed to help you save more before rates drop.
• Explore High-Yield Savings: UCU and credit unions in general are known for offering competitive rates, and many provide high-yield savings accounts that may still offer better returns than traditional savings accounts, even after a rate cut.

Your action plan: Three key strategies

1. Pay Down High-Interest Debt: Take advantage of lower rates by paying down or consolidating high-interest debt, such as credit card balances. Every dollar you put toward your principal will go further, helping you become debt-free faster.
2. Evaluate Your Loans: If you have an existing loan, check with us to see if refinancing at a lower rate is a good option. The savings on monthly payments could be significant over the long term.
3. Optimize Your Savings: Don't let your money sit idly in a low-interest account. Consult with us to discuss a plan for your savings, whether that's locking in a certificate of deposit rate or moving money into a high-yield account.

The upcoming rate cuts present a perfect opportunity to review and improve your financial health. By being proactive, you can ensure that you and your family are in a strong financial position to benefit from the changing economic environment. Talk to us today to explore the best options for you.

It will be holiday season before we know it. 

The holidays are a time for joy, connection, and giving. But let's be honest, they can also feel like a huge strain on your wallet. The pressure to buy the perfect gift, attend every festive event, and host that perfect dinner (or party!) can quickly turn holiday cheer into financial stress.

The good news is that you don't have to choose between a magical holiday and a healthy checking or credit card account. With a little bit of planning and a few smart strategies, you can spread cheer without the regret...well, unless your white elephant win turns out to be an Edible Arrangement.

Let’s talk about how to make your holiday spending feel less like a chore and more like a celebration. Before you even think about hitting the stores, take a moment to make a list. Not just a list of people, but a list with a realistic budget assigned to each person. Check it twice. This isn't about being cheap; it's about being intentional. By setting clear limits, you avoid that all-too-familiar trap of impulse buys and overspending. Consider creative alternatives, too. Instead of buying a physical gift, could you offer to cook a meal, pet-sit for a night, or help with a project? Experiences often create more lasting memories than material things—it’s true.

Be strategic

Oh, and shopping on Black Friday or Cyber Monday isn't the only way to save. The most effective way to find deals is to start early and be strategic. Use apps and browser extensions that track prices and alert you when an item goes on sale. Look for promo codes before you check out, and don't forget to consider secondhand stores and local craft fairs. A one-of-a-kind, handmade gift can be far more meaningful than something mass-produced, and it often costs less.

Also, don’t forget that your phone can be your best financial friend this holiday season. Tools like cashback apps can earn you money back on purchases you were already planning to make. Budgeting platforms allow you to track your spending in real time, so you always know exactly where you stand. By using these tools, you can stretch every dollar and feel confident that you're staying within your budget. Take a look at the UCU banking app for some of these tools.

Mindful spending practices

The ultimate goal is to enter the new year feeling financially secure, not buried in credit card debt. Take a hard look at your spending habits and commit to only buying what you can afford. Remember that the true spirit of the holidays isn't about extravagant gifts, it's about showing the people you care about that you love them. By focusing on connection and intentional spending, you can celebrate the season with confidence and ease.

Ready to get even more expert advice on this topic? Join us for an upcoming webinar where two financial wellness experts will share their best tips for holiday planning. You'll learn how to make a realistic gift list, find meaningful deals, and use smart tools to stretch your spending without the stress. Speaking of less or no stress, we have a myriad of solutions that may solve many if not all of what we’ve discussed here. 

A comprehensive guide to retirement savings and investments

Across the world, people are saving for that “someday” called retirement. Someday, their careers will end. Someday, they will live off their savings or investments, plus other income. They know this, but many of them do not know when, or how, it will happen. What is missing is a strategy – and a good strategy can make a significant difference.

A retirement strategy directly addresses the “when, why, how” and even “where” of retiring. It breaks down the process of getting ready for retirement into actionable, easily digestible steps.

This is very important. It is possible to retire confidently, even if you are uncertain of what your tomorrow looks like right now. In fact, a 2024 study by the Employee Benefit Research Institute found that nearly half of workers retired earlier than they had planned. This highlights the importance of preparing early and staying flexible. . You can do this by saving, investing, and acting on your vision of retirement now to chart a path toward your goals and the future you want to create for yourself.

Focus on what you can control

Since it’s impossible to predict the future, some people dismiss having a long-range retirement strategy. Indeed, there are things about the future you cannot control, like how the stock market will perform or the conditions of the economy. That said, you are able to control many other things: the way you save and invest, your spending and borrowing habits, the length and arc of your career, and your health. Most importantly, you also have a chance to be proactive and to prepare for the future. The best time is now.

A good retirement strategy has many elements

It is important for your retirement strategy to include set financial objectives. It should address your retirement income: how much you may need, the sequence of account withdrawals, and the age at which you claim other supplemental benefits. It should establish (or refine) an investment approach. It should examine financial implications and possible health care costs, as well as leaving a legacy and consider the transfer of assets to heirs.

A prudent retirement strategy also entertains different consequences

To craft a robust retirement strategy, it is essential to consider your overall financial situation. Seeking guidance from a financial professional can help provide important insights that you may not have considered. Professionals often use multiple-probability simulations to try and assess the degree of financial risk to a retirement strategy, in case of an unexpected outcome. These simulations can help to inform the financial professional and the retiree or pre-retiree about the “what ifs” that may affect a strategy. They also consider sequence of returns risk, which refers to the uncertainty of the order of returns an investor may receive over an extended period of time.

Let a retirement strategy guide you

Our Wealth Advisors are here to assist you with your retirement strategy, personalized for your goals and dreams. Once you have a good strategy, it’s easier to take steps in pursuit of the future you want and deserve. It’s all about you and your financial peace of mind.

Securities and advisory services offered through Copper Financial Network, LLC (“Copper Financial”), a broker-dealer and SEC registered investment adviser. Member FINRA/SIPC. Your Credit Union has contracted with Copper Financial to make non-deposit investment products and services available to its members. Representatives are registered with Copper Financial. Your Credit Union and its investment group (if applicable) are not broker-dealers or investment advisers and are not affiliated with Copper Financial. For important disclosures from Copper Financial please visit here. 

Copper Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. 

Link to the Copper Financial Customer Relationship Summary

Investment and insurance products offered through Copper Financial:

Your Credit Union has contracted with Copper Financial to provide investment products and services to its members. Your Credit Union is not a client of Copper Financial. Your Credit Union will receive compensation from Copper Financial if you open an account with Copper Financial. This compensation creates an incentive for your Credit Union to refer clients to Copper Financial. For additional information please see the Program Credit Union Referral Fee Disclosure available here.

To learn more about Copper Financial and its financial representatives, visit FINRA BrokerCheck.

As the government shutdown continues, many communities are feeling the strain. Financial uncertainty looms over federal employees, contractors, and families indirectly affected. This stressful situation can lead to anxiety about meeting basic needs. At University Credit Union (UCU), we prioritize supporting our members during the government shutdown. Our commitment is to provide practical solutions, financial guidance, and compassionate service.

Understanding Financial Concerns

During a shutdown, essential expenses become paramount. Housing, utilities, groceries, and insurance require immediate attention. It’s crucial to have a clear picture of your financial situation. Start by creating a simplified budget. This will help stretch your resources and avoid unnecessary spending. Here are some tips:

• List all your income sources and expenses.
• Identify essential versus non-essential expenses.
• Allocate funds based on priority needs.
• Track your spending regularly to stay on course.
• Adjust your budget as needed to reflect changes.

If you find it difficult to meet your financial obligations, reach out to your creditors early. Open communication can lead to more options and potential relief. Many lenders, including UCU, offer temporary relief options designed to ease financial burdens during these challenging times.

Accessing Financial Relief Options

Avoiding high-interest debt traps is crucial during a government shutdown. UCU offers low or no-interest alternatives for our members. We provide a range of loan options tailored to assist in situations like this. These options allow qualifying members to access funds under favorable terms, ensuring a manageable repayment process.

Members currently holding loans with us may be eligible for our Skip-a-Payment program. This program permits you to defer payments without penalties. If you are enrolled in our debt protection program, additional safeguards may also be available to protect against job loss or income disruption.

Being proactive can help navigate this uncertain period. Create a Safety Net and Take Inventory. Consider the following:

• Establish a LOC (for emergency use).
• Sign up for a HELOC (for emergency use).
  • UCU will continue to accept HELOC and Mortgage loans with Furlough income during the government shutdown with no impact to its regular approval process. 
• Pledge paid off cars for a loan to access emergency funds, auto equity cashout.
• Consider a 401k loan where you pay yourself back principal and interest.
• Evaluate all current and potential loan sources to utilize the most efficient and effective funding sources.
• Plan for two to three months of savings for living expenses.
• Re-evaluate your budget and spending annually.
• Inquire about the Skip-a-Payment program if you have an existing loan.
• Seek options for lower interest rates from your creditors.
• Explore UCU’s loan products that can provide immediate cash flow relief.
• Utilize our financial counseling services for personalized advice.
• Stay informed about government resources and assistance programs.

Utilizing Educational Resources and Support

Financial education is vital in times of uncertainty. UCU provides a wide array of resources to empower members. Our Financial Wellness Center includes budgeting tools, loan and retirement calculators, and educational content designed to improve your financial prowess. These resources are available online and accessible 24/7. 

Personalized support is also a key feature at UCU. Our Certified Credit Union Financial Counselors (CCUFCs) are available for virtual or in-person meetings. They can assist you in creating a customized budget, managing debt, and improving your credit score. These services are complimentary for our members, providing clarity and confidence during uncertain times.

Consider the following educational resources offered by UCU:

• Access to budgeting tools that help track spending.
• Loan calculators to understand payment options.
• Webinars on financial literacy topics.
• Guides on managing debt effectively.
• Information on retirement planning and saving strategies.

Connecting with UCU for Assistance

UCU was founded on the principle of people helping people. If you are affected by the shutdown, we encourage you to reach out. Whether you prefer to call, visit a branch, chat online, or message us through online banking, we are here to listen. Supporting members during the government shutdown is our mission. We are dedicated to helping you find the best path forward during these challenging times.

By utilizing UCU’s products and services, you can navigate this situation with greater ease. Our offerings include:

• UCU donates regularly to partner food pantries should your SNAP benefits be affected – contact us to learn more or visit one of the following locations:
  • Pepperdine - Waves Food Cabinet
  • LMU Food Pantry
  • UCD - The Pantry
  • SMC - Gael Pantry
  • UCI Basic Needs Center
  • UCSD - Triton Food Pantry
  • UCLA - CPO Basic and Essential Needs
  • SCU - Bronco Food Pantry
• Comprehensive financial counseling services.
• Educational resources available online.
• Access to budgeting and financial planning tools.

As you face the challenges of the ongoing government shutdown, remember that UCU stands ready to support you. We understand the stress this situation can cause and are committed to providing the resources and guidance you need. Let us help you take control of your finances and find stability during this uncertain time. Take a look at this short video to learn more. 

At University Credit Union (UCU), we believe that no one should have to choose between focusing on growth or worrying about their next meal. This year, that belief is driving us to act sooner and give more. 

As many across the nation feel the effects of the ongoing government shutdown, UCU is stepping up to even further support the communities we serve. We’ve accelerated our annual donations to campus food pantries and basic needs programs, built out additional financial education resources, and have a suite of flexible credit and lending opportunities at the ready; because when help is needed, timing matters.

Each year, UCU contributes to university programs that fight food insecurity among students, faculty, and staff. But this year, we’re moving ahead of schedule to ensure resources reach those who need them now. Yeah, that’s the credit union difference at work. 

UCU has pledged $1,500 each to the following food pantries and basic needs programs:

• Loyola Marymount University – LMU Food Pantry
• University of California, Davis – The Pantry
• University of California, Irvine – Basic Needs Center
• University of California, Los Angeles – CPO Basic and Essential Needs
• University of California, San Diego – Triton Food Pantry
• Santa Clara University – Bronco Food Pantry
• Saint Mary’s College – Gael Pantry

And in partnership with Abilene Christian University (ACU), we’re matching up to $1,500 in faculty and staff donations to the Kirby Fund, which supports every on-campus food pantry, including those in residence halls and staff facilities.

A Shared Commitment to Care

Food insecurity doesn’t exist in isolation — it affects learning, concentration, health, and mental wellbeing. When students and employees worry about their next meal, everything else becomes harder. UCU’s partnerships with university food pantries reflect a shared commitment to ensuring that every member of the academic community has access to basic necessities and the dignity of stability.

This effort is one piece of UCU’s broader mission to help university communities thrive financially and personally. Beyond providing financial education, fair products, and personalized service, the credit union continues to find new ways to support the wellbeing of those it serves: through community giving, scholarship programs, and partnerships that strengthen the social fabric of campuses.

By advancing this year’s donations, UCU is reaffirming its commitment to both financial wellness and the overall well-being of its campus communities. These efforts are part of our broader mission to help members navigate financial uncertainty—with resources that go beyond banking. From emergency assistance programs to flexible lending solutions and financial education, UCU is here to help our members weather difficult times with dignity and confidence.
 

Together, We Nourish Community

The heart of UCU’s work has always been people helping people. Supporting food pantries is a natural extension of that purpose. It’s about more than money — it’s about connection, care, and ensuring that no one is left behind.

As the credit union continues to grow alongside its university partners, its focus remains rooted in cooperative values and shared success. When one member of the community is struggling, the whole community comes together to lift them up.

Because being part of a credit union isn’t just about financial services; it’s about standing together when it matters most.

Your guide to making an impact this holiday season, and beyond

The air is crisp, the lights are twinkling, and finals are (almost) over—the holiday season is officially upon us! While it’s a time for celebrations and well-deserved breaks, it’s also the season that amplifies the spirit of giving. As members of a vibrant university community, we have a unique chance to leverage our collective energy and resources to make a real difference right where we live and study.

This year, skip the generic resolutions and commit to giving back locally. Here's a look at vital areas within our academic communities where you can lend a hand, inspired by the social responsibility efforts of our university partners and beyond.

Fighting food insecurity: Support your campus food pantry

Food insecurity affects students and staff on campuses nationwide. Your university likely has an initiative dedicated to ensuring no community member goes hungry. It likely affects more than one person you know on campus. More than one in five undergraduate students in the U.S. report experiencing food insecurity—a rate that is often double the national average for all households.

Research tracking students over nearly two decades found that students who experienced food insecurity were 43% less likely to graduate from college compared to their food-secure peers. With food pantry donations, you can aid UCU in supporting your peers in need.
 

In 2025, we accelerated our annual donations to university food pantries and basic needs programs to help meet rising demand among students, faculty, and staff affected by the ongoing government shutdown and reduced SNAP benefits.

How you can help:

• Host a food drive: Organize a friendly competition between campus clubs, dorm floors, or departments to collect non-perishable goods. Many institutions, including those supported by UCU, have dedicated campus food pantries that rely on these donations.
• Volunteer your time: Campus pantries often need help sorting donations, stocking shelves, and managing inventory. A few hours of your time can keep the pantry running smoothly through the holiday break.
• Donate essential items: Beyond canned goods, consider donating toiletries, menstrual products, and household necessities, which are crucial for student wellness.
   

Spreading cheer to children: Toy drives and donations
 

The holidays should be a time of excitement for children, and volunteer efforts can help bring that magic to families facing challenges.
 

How you can help:

• Contribute to a hospital drive: Look for opportunities to support local children’s hospitals. For instance, annually UCU supports the UCLA Mattel Children’s Hospital Toy Drive, a major initiative where donations bring comfort and joy to patients and provide some relief to their families during their stay.
• Wrap gifts: Many campus groups and charities collect gifts but may need assistance wrapping them. Organize a fun, festive wrapping session with friends—it's a great way to socialize while volunteering.
• Create care packages: Assemble themed care packages for children or teens in need, filling them with art supplies, books, or cozy winter gear. 

Empowering future leaders: Educational & alumni support

Beyond physical donations, you can give back by supporting the education and professional development of your peers and future students. UCU supports students with various donations to scholarship programs, and annually holds a scholarship contest giving away three $5,000 scholarships to UCU members who are making an impact in their communities.
 

How you can help:

• Support scholarship programs: Volunteer to assist your university’s development or alumni offices with scholarship administration, review applications, or help with fundraising events.
• Offer mentorship/tutoring: Use your academic skills to give back. Volunteer to tutor local K-12 students or host free study sessions for younger students on campus.
• Promote financial wellness: Encourage and participate in financial literacy webinars and workshops. Helping fellow students and community members gain the tools for smart financial decisions is a gift that lasts a lifetime.

Make your mark this holiday season—volunteer your time

The university community is a powerful network. Whether you’re a student, faculty member, staff, or alumni, your time and effort are the most valuable donations you can offer. This holiday season, connect with your university’s student government, staff assembly, or community engagement office to find a perfect fit for your volunteer spirit.
 

Happy Holidays—and happy giving!

University Credit Union Spreads Holiday Cheer and Supports Academic Excellence

Los Angeles, CA – University Credit Union (UCU) is proud to announce its commitment to spreading holiday cheer while supporting academic excellence. UCU is expanding its community initiatives and partnerships that align with its mission to uplift and serve. This holiday season, UCU aims to make a meaningful impact through financial contributions to academic programs and community outreach activities.

Supporting Neuroscience Students at UCLA

In a significant contribution, UCU recently donated $5,000 to UCLA Neuroscience students. The funds will assist in travel expenses to the Society for Neuroscience Annual Meeting, taking place in November 2025. This donation ensures that future leaders in science can present their research on a global platform.

“Our partnerships with institutions like UCLA reflect our commitment to advancing education and supporting the next generation of innovators,” said Megan Eisenhard, Chief Growth Officer. “At the same time, we remain deeply focused on initiatives that bring comfort and joy to families during the holidays. These efforts are at the heart of who we are as an organization.”

UCU was also proud to participate in UCLA’s Annual Neuroscience Day on December 2. This event celebrates groundbreaking discoveries and the dedicated students behind them. UCU's involvement reflects its commitment to advancing education and supporting the next generation of innovators.

Annual UCLA Children’s Hospital Book Drive

UCU is excited to announce the return of the Annual UCLA Children’s Hospital Book Drive, which is bigger than ever. This year, UCU has doubled the number of donation bins across the community to accommodate the growing needs from its partners. The donations will help fill the UCU-sponsored Book Cart, bringing joy and stories to children in care.

A special book drop-off event is also in the works. Members of UCU’s Executive Leadership Team, Staff Assembly, and Board members will be present to encourage community participation. Donations will continue to be accepted through December 31, ensuring that every child has access to books during the holiday season.

Meals for Families in Need

For the second consecutive year, UCU’s UC San Diego team, along with staff volunteers and partners, will prepare and serve meals for families who must remain close to the hospital during the holidays. This heartfelt effort will support approximately 50 families, helping them experience warmth and care during a challenging season.

Derek Knowlton, UCU’s Chief Marketing Officer, emphasizes the importance of community engagement. "Community engagement is more than a seasonal activity, it’s a core value. From helping neuroscience students reach their goals to ensuring children have access to books and families have meals during difficult times, we’re proud to stand alongside our partners and staff to make a meaningful impact."

UCU’s Commitment to Civic Engagement

These initiatives exemplify UCU’s unwavering commitment to education, health, and community well-being. UCU’s partnerships with organizations like UCLA are prime civic engagement examples. Together with partners and volunteers, UCU is creating opportunities, spreading joy, and making a difference where it matters most.

UCU remains dedicated to its mission. Its initiatives reflect the belief that supporting education and community well-being is vital. This holiday season, UCU invites everyone to join in these efforts, whether through donations or volunteer work. By coming together, we can uplift our community and foster a spirit of generosity.

Key Community Initiatives

• Donation of $5,000 to UCLA Neuroscience students.
• Participation in UCLA’s Annual Neuroscience Day on December 2.
• Doubling the number of donation bins for the Book Drive.
• Book drop-off event TBD
• Preparing and serving meals for families near UC San Diego Hospital.

UCU continues to demonstrate its commitment to civic engagement examples. The organization strives to uplift everyone during the holiday season and throughout the year.

UCU offers various financial products and services. Members can access checking and savings accounts, loans, and investment options. UCU is dedicated to providing its members with the tools they need for financial success.

These initiatives highlight UCU’s role as a community leader and advocate for education and welfare. By investing in both academic and community programs, UCU showcases its dedication to making a positive impact. The organization believes in the importance of supporting future generations and their contributions to society.

As the holiday season approaches, let us remember the importance of community involvement. UCU encourages everyone to participate in local initiatives. Together, we can create a brighter future for those in need.

Buying a home is a significant milestone. It deserves clear guidance and competitive pricing. University Credit Union (UCU) understands this journey. They provide various home lending solutions. Whether you're a first-time buyer or a seasoned homeowner, UCU has options for everyone. Their services extend to refinancing and home equity access as well. With competitive mortgage rates and support from experienced mortgage originators, UCU helps members navigate the mortgage process confidently.

What Sets University Credit Union Apart

UCU offers a unique blend of personalized service and robust digital tools. This combination helps members begin their applications online. They receive tailored guidance throughout the process. Members benefit from:

• Competitive interest rates.
• Flexible terms prioritizing lower monthly payments or faster payoff.
• Free mortgage consultations.
• The ability to complete applications from home.
• Expert support throughout the mortgage journey.

Home Loan Options for Different Needs

UCU provides various home loan options. Each option caters to different needs and financial situations.

Fixed-rate Mortgages

Members often choose fixed-rate mortgages. This option offers predictable monthly payments. It provides stability for the loan's life. Various term lengths can fit into different budget strategies.

FHA Loans

FHA loans are ideal for first-time buyers. They typically allow lower down payments than conventional loans. These loans are backed by the U.S. government. They make homeownership more attainable for buyers building credit histories.

VA Loans

Service members, veterans, and eligible surviving spouses may benefit from VA loans. This option often requires zero down payment, subject to eligibility. VA loans leverage military entitlement. They provide affordable pathways to homeownership.

USDA Loans

USDA loans help buyers in rural or select suburban areas. These loans offer zero down payment opportunities. For buyers targeting eligible locations, this option expands choices while keeping costs manageable.

Refinancing with University Credit Union

Circumstances change, and so can your mortgage structure. UCU offers refinancing options to reduce total interest or lower monthly payments. Members can change the loan term or switch from variable to fixed rates. They can also move from fixed to variable if it better suits their current goals. UCU emphasizes fast processing and member-centric service for all refinance requests.

Home Equity Lines of Credit

A Home Equity Line of Credit provides convenient access to funds. Members can use these funds for renovations, education costs, weddings, or larger life events. They only pay interest on the funds used. UCU applies competitive rates to home equity products. They also support a straightforward application experience.

Support from Registered Mortgage Originators

UCU’s mortgage originators are registered with the Nationwide Mortgage Licensing System and Registry. This registration adds transparency and professionalism to the process. Consumers can access originator information without charge. Members can reach the home loans team for guidance on weekdays.

How the Application Works

The mortgage application process at UCU is straightforward. Follow these steps to get started:

• Explore loan options and use tools to see rate scenarios.
• Complete the online application from home.
• Connect with a mortgage expert for a free consultation.
• Finalize preapproval and prepare for home shopping.
• Close with clarity, ensuring consistent communication throughout.

Who Can Join University Credit Union

UCU primarily serves the university community. This includes employees, students, alumni, and affiliated institutions nationwide. The credit union experience offers member-owner benefits. These benefits differentiate it from traditional banking through personalized service and competitive pricing.

Explore the Home Lending Options

Homeownership is more than a financial decision; it's about building your future. At University Credit Union, every program and every conversation helps you achieve your goals. Whether you are buying your first home or refinancing, UCU offers solutions that prioritize your needs. Experience the advantages of working with a credit union that understands your journey. Explore the following products and services:

• Fixed-rate mortgages for predictable payments.
• FHA loans for first-time buyers with lower down payments.
• VA loans for service members with zero down payment options.
• USDA loans for rural homebuyers with zero down payment opportunities.
• Home Equity Lines of Credit for flexible access to funds.

Each option is designed to meet the unique needs of members. Start planning today to experience the difference at University Credit Union. Let's get started.

University Credit Union Announces Appointment of New CEO

FOR IMMEDIATE RELEASE – University Credit Union (UCU), a financial cooperative dedicated to empowering university communities for 75 years, proudly announces the appointment of Richard Wada as its new Chief Executive Officer and President. This leadership transition marks an exciting new chapter as UCU continues advancing its core purpose: giving everyone in the university community a financial advantage.

UCU Board Chair, Norma Iadevaia, shared:

"The Board is excited to welcome our new CEO/President, Richard Wada. His strategic vision, deep commitment to member service, and passion for supporting university communities align seamlessly with UCU’s core purpose and values. We are confident that under his leadership, UCU will continue to elevate the financial well‑being of our members and strengthen our partnerships across the higher education landscape."

Leadership Transition

Richard Wada joins UCU with a distinguished background in financial services and credit union leadership. His extensive experience positions him well to guide UCU into its next era of growth. Wada currently serves as Chief Lending Officer at Patelco Credit Union, the nation’s 28th largest credit union, boasting $9.5 billion in assets and over 500,000 members across Northern California.

In his role at Patelco, Wada has successfully overseen the growth and performance of both consumer and commercial lending businesses. His track record demonstrates his ability to drive innovation and enhance member experiences. Prior to joining Patelco in 2018, Wada held significant executive positions within Citibank’s global and North American retail banking divisions. He served as Global Head of Personal Lending and Head of U.S. Retail Consumer Lending.

Wada’s earlier career includes product management and marketing leadership roles at American Express and the global advertising agency Saatchi & Saatchi. He holds a B.A. from Williams College and an MBA from Columbia Business School.

Vision for the Future

Richard Wada will guide UCU into its next era of growth—one centered on innovation, an elevated member experience, and deeper strategic partnerships across the higher education ecosystem. With a strong financial foundation and a reputation for exceptional service, UCU is poised to expand its impact and deliver even greater value to faculty, staff, alumni, students, and their families.

Wada’s leadership style emphasizes collaboration and transparency. He is committed to fostering an inclusive environment where members feel valued and heard. This approach aligns with UCU’s mission to empower the university community through tailored financial solutions.

UCU’s Commitment to the Community

For almost 75 years, UCU has been dedicated to serving the university community. UCU offers a range of financial products and services designed to meet the needs of its diverse membership. These include:

• Checking Accounts: Convenient and accessible options for everyday banking.
• Savings Accounts: Competitive rates to help members save for their future.
• Loans: Affordable personal, auto, and student loans tailored to members’ needs.
• Credit Cards: Rewarding options with benefits that enhance purchasing power.
• Online and Mobile Banking: User-friendly platforms for managing finances anytime, anywhere.

As UCU welcomes Richard Wada as the new CEO, the cooperative remains steadfast in its commitment to providing outstanding financial solutions. Wada's leadership will undoubtedly play a crucial role in shaping the future of UCU and its impact on the university community.

Media inquiries may be directed to:

Contact: Derek Knowlton
Email: dknowlton@universitycu.org
Phone: 800.UCU.4510

About University Credit Union: University Credit Union is a purpose-driven financial cooperative dedicated to providing a financial edge to the university community. Founded in 1951 by UCLA employees, UCU focuses on member-owner participation and returns profits to its members through better loan rates, higher savings rates, and lower fees. Today, serving over 58,000 members, UCU offers a range of financial products and services, including checking accounts, loans, and insurance, while emphasizing community support and financial education. Learn more at ucu.org.

Building a Savings Ladder: How to Optimize Your Cash Flow for Growth

For many, a bank account is simply a place to park a paycheck until the bills come due. However, in a world where inflation can quietly erode the purchasing power of your "lazy money," understanding how to structure your accounts is a vital financial skill.

Financial optimization isn't about having the most money; it’s about ensuring every dollar you own is assigned a specific job. By understanding the roles of high-yield checking, savings, and certificates, you can build a "savings ladder" that balances growth with accessibility.

The savings ladder foundation: High-yield checking

Traditionally, checking accounts were purely transactional—offering convenience but zero growth. Modern financial education suggests a different approach: treating your checking account as an active earning tool.

The goal is to find an account that rewards your daily activity. Some institutions offer tiered rewards based on how you use the account. For example, University Credit Union’s Smart Checking provides a consistent APY simply for maintaining a direct deposit and using eStatements.

For those who are more financially active, a University Checking Account can offer even higher yields by rewarding members who use their debit cards frequently or establish loans with UCU such as a personal loan, auto loan, or HELOC. With this high-performing account, you gain a return on money that would otherwise sit idle.

The savings ladder core: High-yield savings account (HYSA)

Once you have enough in checking to cover your monthly expenses, the next "rung" on the ladder is the high-yield savings account. This is typically where your emergency fund (3–6 months of expenses) should live.

The key educational takeaway here is the power of compound interest. While a standard savings account might offer a negligible 0.01% interest, a high-yield option significantly accelerates your savings. For instance, UCU’s High Yield Savings Account offers a competitive APY on balances over $2,500.

By keeping these funds in a separate HYSA rather than your checking, you create a psychological barrier against impulsive spending while keeping the money liquid enough for a true emergency.

The savings ladder peak: Certificates for timed goals

When you have money that you know you won’t need for several months or years—perhaps for a wedding, a down payment, or a new car—you can move up the ladder to certificates.

In financial terms, a certificate is a trade-off: you give up "liquidity" (the ability to withdraw money instantly) in exchange for a higher, guaranteed fixed rate.

• The benefit: You lock in a rate, protecting yourself if interest rates in the general market fall.
• The risk: Withdrawing early usually results in a penalty.

Use a "laddering" strategy with certificates by opening multiple accounts with different maturity dates (e.g., 6 months, 12 months, and 24 months). This ensures that a portion of your money becomes available at regular intervals while you still benefit from the higher rates of longer-term certificates.

Creating synergy through bundling

Managing multiple accounts can feel overwhelming, which is why "bundling" is often a smart move for efficiency. When your checking and savings live under one roof, moving money between rungs of your ladder becomes instantaneous.

Bundling a checking account and HYSA allows you to automate your finances. You can set rules to "sweep" excess cash from your checking into your savings at the end of every month, ensuring you never miss a day of potential growth.

Maximizing your accounts isn't just a banking choice; it’s a strategy to outpace inflation and build wealth passively. By assigning your money to the right "rung"—high-yield checking for bills, HYSA for emergencies, and certificates for the future—you ensure that your financial foundation is both stable and productive.

Understanding the real impact on everyday finances

As conversations about capping credit card interest rates continue, it’s important to look beyond the headlines and understand what a 10 percent APR cap would mean for real people. While the idea sounds appealing, research shows it could unintentionally harm consumers, including many credit union members who rely on credit cards to manage everyday expenses and emergencies.

At University Credit Union, we believe in solutions that strengthen financial resiliency and affordability. However, data tells a different story about the impact of a strict cap. Federal Reserve research shows that 37 percent of Americans would struggle to cover a $400 emergency expense from income or savings alone, and more than 40 percent of those households said they would turn to a credit card to cover that cost. If a 10 percent cap were imposed, nearly 47 million subprime consumers, or about one-third of the population, could lose access to mainstream credit cards, leaving them with fewer, often riskier, options.

Consumer spending habits

The ripple effect on the economy would also be significant. Consumer spending drives roughly 70 percent of the U.S. economy, and in 2024, purchase volume on credit cards totaled $3.6 trillion, up from $2.2 trillion in 2020. That spending accounted for 12 percent of GDP. Limiting access to credit would reduce consumer spending, leading to lower retail sales and hurting businesses of all sizes.

Credit unions and credit cards 

Credit unions have a long-standing commitment to affordable financial services. As of January 2026, the average interest rate for a basic credit union credit card is 12.87% compared to banks’ 16.07%. The University Credit Union Credit Card, for example, currently sits at 11.24%. Such a trend holds true across most card types, including rewards programs. 

We are proud to serve our members with fair, transparent, and affordable credit options. A 10 percent cap may sound appealing, but in practice, it would limit access to credit for millions of Americans, especially those who need it most. Nonetheless, we remain committed to working with policymakers on solutions that truly enhance financial well-being without creating unintended harm.

Healthy spending for the future

Your financial health is our priority. University Credit Union will continue to advocate for policies that protect access to affordable credit and support your ability to manage life’s unexpected expenses. If you have questions about your credit options or want to learn more about how we can help, please contact us.

Credit cards serve as a vital tool in modern finance. They offer convenience and flexibility to consumers, allowing them to make purchases, manage expenses, and earn rewards. However, recent discussions around a 10 percent credit card rate cap have raised concerns. While a rate cap may seem beneficial at first glance, it could lead to unintended consequences for consumers.

File smarter this year with tax season tips for 2026.

Tax season is here again, and with important deadlines and potential changes in tax law on the horizon, early preparation can make a significant difference in your financial peace of mind. Whether you file on your own or with a tax professional, these strategies and resources will help you file smarter and stress less. 
 

Key Dates to Remember

• January 26, 2026 – The IRS begins accepting 2025 federal tax returns.  
• April 15, 2026 – Deadline to file your federal tax return or request an extension.  
• October 15, 2026 – Extended deadline if you filed for an extension.  
• Estimated tax payments for 2026 are due quarterly (e.g., April 15, June 15, September 15).  

Mark your calendar early and plan a checklist to stay organized and avoid last-minute rushing with these tax season tips for 2026.

Get Organized Before You File

A little preparation now will save headaches later:

Gather Your tax documents

• W-2s, 1099s, and income statements
• Documentation for deductions or credits (education, childcare, healthcare)
• Records of estimated tax payments

Keeping your records in one place makes filing faster and more accurate.

Review Prior Year Returns
Look at last year’s return for carryovers or major changes in income or life events. This helps ensure you claim all eligible deductions and credits.

File Early and Electronically

Filing your taxes as soon as you’re ready helps:
• Reduce identity theft risk
• Get refunds sooner (especially with direct deposit)
• Avoid delays due to paper returns

The IRS expects most returns to be filed electronically, with processing beginning late January.  

Protect Your Identity with an IRS Online Account

Setting up an IRS Online Account lets you:
• View your tax records and notices
• Download past returns or AGI figures
• Track your refund status
• Set up payments or payment plans

The IRS encourages taxpayers to set up accounts early to avoid processing delays.  

Take Advantage of Free Filing Resources

If your income is below a certain threshold, the IRS Free File program provides access to no-cost tax preparation software through IRS.gov. This is a great option for many filers who want step-by-step guidance without a fee.  

Understand New Tax Law Changes

Recent federal tax law changes—like deductions for tips, overtime pay, and senior credits—may impact your return. Staying informed helps you take advantage of all benefits available to you.  

Consider Professional Help

If your tax situation is complex—such as owning a business, rental property, or navigating new tax provisions—you might benefit from a tax professional. They can help ensure compliance and maximize savings.

Tip: Be wary of third-party filing services that charge high fees. Always choose trusted and reputable preparers.

Avoid Common Filing Mistakes

• Missing Social Security numbers or incorrect names
• Math errors
• Filing without all income statements
• Forgetting to sign and date your return

Double-check before you hit “submit.”

Helpful Resources for Tax Preparation

• Online Calulators – Various calculators designed to assist with your financial journey.
• IRS Get Ready for Tax Season – IRS official checklist and tips.
• IRS Free File – Free federal tax preparation software options.
• IRS Online Account – Access your personal tax records securely.  
• TurboTax Tax Preparation Checklist – Printable list for organizing documents.
• IRS Estimated Tax Payments – Deadlines and guidance for self-employed or underwithheld taxpayers.
• TurboTax or H&R Block exclusive discounts - Enter for a chance to win $10,000!
• Consider an Individual Retirement Account - Save for the future by making your return work for you with an IRA.

As you work through these tax season tips for 2026, a little planning can go a shown way toward clarity and confidence. Whether you’re organizing documents, thinking ahead for next year, or considering how a refund or balance due fits into your broader financial picture, you don’t have to do it alone. Our team is here to answer questions, share trusted guidance, and help you think through next steps. If you’d like to meet with us to talk through your goals, connect with us and let’s plan what comes next, thoughtfully and on your terms.

Implications for credit unions and consumers

Interchange fees rarely make headlines, but they quietly power much of the modern payments ecosystem. From fraud protection to rewards programs to free checking, interchange revenue helps fund many of the everyday services consumers expect. That’s why renewed legislative attention on interchange, specifically proposals that would regulate or restructure credit card routing—has significant implications for credit unions like UCU and their members. 

A quick refresher 

What is interchange?

Interchange is the fee paid by a merchant’s bank to a cardholder’s bank every time a debit or credit card is used. For credit unions, this revenue supports:

• Fraud detection and zero-liability protections
• Card servicing and dispute resolution
• Rewards programs
• Free or low-cost checking accounts
• Investments in digital banking and payment security 

Unlike large banks, credit unions do not generate shareholder profits from interchange. Any revenue earned is reinvested directly back into member benefits. 

What the proposed interchange legislation aims to do 

The current proposal would require large financial institutions to enable multiple credit card payment networks on each card, beyond the dominant providers such as Visa and Mastercard. Proponents argue this would increase competition, lower interchange fees for merchants, and ultimately reduce prices for consumers. 

On the surface, that sounds appealing. But the downstream effects (especially for credit unions) are far more complex. 

Why credit unions are caught in the middle 

Although the legislation is framed as targeting “big banks,” credit unions would almost certainly feel the impact.

1. Reduced interchange revenue means reduced member benefits 

If interchange revenue declines, credit unions may be forced to offset the loss elsewhere. That could mean fewer rewards, new account fees, or reduced investment in fraud protection and digital tools. 

2. Debit regulation history offers a warning 

When debit interchange was capped under the Durbin Amendment, large retailers saw cost savings, but multiple studies showed those savings were rarely passed on to consumers. Meanwhile, financial institutions responded by increasing account fees and reducing free services. Credit unions worry credit cards could follow the same path. 

3. Security and fraud risks increase 

Routing transactions through less-established networks could weaken fraud monitoring and dispute resolution. Credit unions pride themselves on member protection, but those systems are expensive to maintain without stable interchange revenue. 

What this means for consumers 

While the legislation is positioned as consumer-friendly, the likely outcomes are mixed:

• Lower prices at the register are uncertain
• Card rewards could shrink or disappear
• Free checking and low-fee accounts may be harder to sustain
• Fraud protection and service quality could decline over time 

For credit union members, this creates a paradox: legislation intended to help consumers may ultimately reduce the value of the financial relationship they already trust. 

Why credit unions see this differently than big banks 

Credit unions operate under a not-for-profit, member-owned model. Interchange revenue does not inflate executive bonuses or shareholder dividends; it funds better rates, fewer fees, and more personalized service. 

Applying a one-size-fits-all regulatory approach to credit unions risks undermining a model that has consistently delivered consumer value, financial inclusion, and stability especially during economic uncertainty.

The bigger question policymakers must answer 

If interchange is reduced or restructured, who actually benefits?

• Large retailers? Possibly.
• Consumers? Unclear.
• Credit union members? Potentially at a loss. 

The challenge for lawmakers is ensuring that reforms aimed at increasing competition do not unintentionally weaken community-based financial institutions that exist solely to serve consumers. 

Final thought 

Interchange legislation may sound technical, but its consequences are deeply personal. For credit union members, it could reshape everyday banking—often in ways that are invisible until benefits disappear. 

As this conversation continues, credit unions are not asking to avoid competition. They are asking for recognition that member-owned institutions are fundamentally different and that protecting consumer choice means protecting the financial cooperatives that serve them best.

How University Communities Can Prepare for the State of Housing in California

Housing is a huge part of the California story, but in recent years it has become more and more one of the most significant financial challenges facing university communities. For students, faculty, and staff alike, the state of housing in California now shapes everything from daily budgets to long-term financial goals. So, understanding today’s housing environment is no longer optional; it is an essential part of financial wellness.

At University Credit Union, financial education begins with helping members understand the realities around them and providing practical guidance that supports confident decision-making. Let's discuss. 

A Housing Market Defined by Cost and Competition
 

California remains one of the most expensive housing markets in the United States. Average rents across the state now exceed $2,600 per month, with major university regions such as Los Angeles often reaching well above that level. For many households connected to universities, housing has become the single largest monthly expense, frequently stretching beyond traditional affordability guidelines.

The challenge is not only price. Limited housing supply, population growth in urban areas, and sustained demand near campuses have created intense competition for available units. Even small changes in availability can significantly impact rental costs, leaving many residents adjusting expectations about where and how they live.

These conditions affect university communities particularly quickly because campuses concentrate large populations within limited geographic areas. When enrollment grows or local development slows, housing pressure increases almost immediately.

Why University Communities Tend to Feel the Impact First

Students often enter the housing market with limited credit history, modest income, and little experience navigating leases or long-term financial commitments. Rising rents mean students increasingly rely on shared housing arrangements, longer commutes, or more complex budgeting decisions than previous generations faced.

At the same time, university faculty and staff encounter their own version of the challenge. Early-career professionals and educators frequently find housing costs outpacing salary growth, delaying homeownership and making it harder to build savings. Commutes grow longer, financial flexibility narrows, and housing decisions begin influencing career and lifestyle choices.

Housing affordability is no longer just a personal issue. It has become a community and workforce issue affecting recruitment, retention, and overall financial well-being across higher education.

Financial Preparation Matters More Than Ever

While individuals cannot control market conditions, preparation can dramatically improve outcomes. Financial readiness turns housing from a reactive decision into a strategic one.

A strong housing plan begins with understanding the full cost of living, not just monthly rent. Utilities, transportation, insurance, and everyday expenses all shape what is truly affordable. Many financial experts recommend keeping housing expenses within roughly one-third of monthly income, but achieving that goal often requires intentional planning well before signing a lease.

Credit health also plays a larger role than many realize. Landlords and lenders use credit history to evaluate risk, which can influence approvals, deposits, and borrowing costs. Students who begin building credit early through consistent, responsible use often gain more flexibility when housing opportunities arise.

Equally important is preparing for upfront costs. Moving expenses, deposits, and initial setup costs can add up quickly. Establishing savings specifically for housing transitions helps prevent reliance on high-interest borrowing during already stressful moves.

For those considering future homeownership, patience is part of the process. In California’s market, financial readiness matters far more than speed. Stable income, manageable debt, and consistent savings habits create stronger long-term outcomes than rushing into ownership before finances are prepared.

Education as a Financial Advantage

Financial education plays a critical role in helping university communities navigate housing decisions with confidence. Understanding how rent impacts long-term savings, how credit influences opportunity, and how budgeting supports stability allows members to make choices aligned with their goals rather than reacting to market pressure.

University Credit Union was founded to serve university communities, and that mission continues today through a focus on financial wellness and education. By providing guidance, tools, and resources, we aim to help students, faculty, and staff approach housing decisions with clarity and preparation.

The goal is not simply accessing housing. It is building financial stability while doing so.

Looking Ahead

California’s housing challenges are complex and will take time to resolve. Universities, communities, and policymakers continue exploring solutions, from expanded housing development to new affordability initiatives. While broader solutions evolve, individuals can still take meaningful steps today.

Preparation remains one of the most powerful financial tools available. When members understand the housing landscape and plan intentionally, uncertainty becomes manageable and long-term goals remain within reach. The state of housing in California doesn't have to be navigated alone. Contact us, visit our financial wellness center, or review these additional resources to find the advice or otherwise that may apply to your situation. 

In the end, housing might shape financial life in California, but informed decisions help ensure it does not define your financial limits.

A celebration of our commitment to financial wellness, and the members at the heart of it

At University Credit Union, we believe financial wellness is more than a program—it’s a promise. It’s the promise we make to each member who walks through our doors, logs into digital banking, attends a workshop, or reaches out with a question about their next step. That’s why we’re thrilled to share that UCU has been awarded GreenPath's Growth Guru Partner Excellence Award, a recognition that spotlights organizations leading the way in financial education, counseling access, and long‑term financial empowerment.

This award isn’t just about an initiative or a single collaboration. It reflects the choices we make every day to embed financial well‑being into the fabric of the member experience—from offering personalized counseling options to building educational partnerships across campuses. And most importantly, it reflects the impact those efforts are having on real members and real families.

Why the GreenPath Growth Guru Partner Excellence Award Matters

GreenPath Financial Wellness is one of the most respected financial counseling organizations in the country, known for more than six decades of helping people build healthy financial habits, tackle debt, manage credit, and navigate major milestones with clarity and confidence. Being recognized by a partner of this scale and expertise is especially meaningful because the award evaluates not only what an institution offers, but how deeply those resources are integrated and how strongly they benefit members.

This year, UCU stood out for several reasons:

• Thoughtful integration of financial wellness into everyday member interactions
• Strong results and measurable outcomes connected to financial counseling and education
• A long-term commitment to reducing financial stress and building financial resilience
• Strategic collaboration that amplifies the impact of both organizations

In making the announcement, GreenPath President & CEO Kristen Holt emphasized the role UCU plays in making financial wellness accessible and effective. By providing members with tools, education, and personalized guidance, UCU is helping people reduce debt, build confidence, and take meaningful steps toward long‑term stability. 

A Partnership Built on Shared Purpose

Our collaboration with GreenPath isn’t simply a referral stream or a checklist item. It’s an active, strategic partnership built around shared goals: helping members make informed decisions, lowering financial barriers, and reducing stress during moments that can feel overwhelming.

Through this partnership, members have access to:

• One‑on‑one financial counseling tailored to their goals
• Debt management and budgeting support
• Workshops and educational programs offered online and on campuses
• Tools that support long‑term planning, from homebuying to managing student loans

These resources help members move forward with confidencem, whether they’re building credit, navigating major purchases, or simply trying to get a better handle on day‑to‑day finances.

UCU President & CEO Richard Wada reflected on the significance of the GreenPath Growth Guru Partner Excellence Award, noting that it highlights what’s possible when two mission‑driven organizations work together to empower individuals and families. It’s a reminder that financial wellness isn’t something people should have to figure out alone; it’s something we can build collectively, through support, guidance, and partnership.

Rooted in Education, Designed for Impact

As a credit union founded by UCLA employees and shaped by generations of university communities, education is woven into our origin story. That commitment lives on in the way we design our financial wellness approach today.

Across campuses and digital spaces, UCU integrates financial education through:

• Workshops and seminars for students, faculty, staff, and alumni
• Digital learning modules that meet members where they are
• One‑on‑one consultations that provide personalized support
• Partnerships with university departments to strengthen financial literacy initiatives

Our goal is to help members see the full picture of their financial lives—not with judgment or pressure, but with clarity, options, and support.

Financial wellness looks different for everyone. For some, it means managing debt more effectively. For others, it’s about learning how to save, plan, or build credit. For many, it’s simply about feeling less stress and more confidence. No matter the starting point, we’re here to walk alongside our members each step of the way.

A Recognition we’re Proud of and Motivated by

The GreenPath Growth Guru Partner Excellence Award is both a celebration and an inspiration. It reflects the work we’ve done, but it also challenges us to deepen our commitment and expand our impact in the years ahead. Most importantly, it reinforces something we never lose sight of: our members are the reason behind every workshop, every partnership, every counseling referral, and every tool we build. We’re grateful for your trust, proud of this recognition, and excited to continue helping you achieve financial health and well‑being, today, tomorrow, and throughout your financial journey.