Funds For 1st-Time Home Buyers

LINTHICUM, Md.-To spur home sales and assist borrowers with down payments and closing costs, SECU here is offering up to $7,500 in matching funds to first-time homebuyers. The offer is part of two programs the CU is offering in partnership with the Federal Home Loan Bank for purchases or renovations on existing homes.

Borrowers must come up with a minimum of $1,000, and the FHLB will match that amount up to four times, for a maximum grant of $7,500. Eligible SECU members do not have to repay the matching funds as long as they stay in the home for at least five years.

Neighbors Unveils 'Your Portfolio'

BATON ROUGE, La.-Neighbors FCU has launched "Your Portfolio," a new personal financial management tool that can be accessed through the CU's online banking portal. The CU chose Geezeo (www.geezeo.com) to launch the PFM solution. Geezeo is a financial technology firm offering financial management tools, social networking and web-based marketing platforms for FIs. Neighbors members can use "Your Portfolio" to view accounts from multiple institutions to provide a comprehensive view of assets with multiple tools to help track expenses, bills and budgeting.

PenFed Intro's Platinum Rewards

ALEXANDRIA, Va.-Pentagon FCU has introduced its PenFed Platinum Rewards Visa card. Cardholders can earn as much as five points per dollar spent on gasoline purchases, three points per dollar spent on groceries and one point per dollar on all other purchases. Those points can be redeemed for travel, gift cards, merchandise or Visa prepaid cards. The card has a variable 9.99% APR capped on all new purchases through the end of June 2014, along with no annual or foreign transaction fees. New cardholders can earn 25,000 points in the first three months: users receive 5,000 points for their first purchase, and 20,000 additional points if they spend $1,000 during the first three months.

Super Saver Contest Held

WEST LAFAYETTE, Ind.-Purdue FCU here held a Super Saver contest for kids as a way to teach them the power of saving money. Kids between ages 5 and 14 years old can open a $avers & $ense Club account, and for every deposit of $5 or more the accountholder receives one entry into a drawing for a $100 back-to-school shopping spree. Eight winners will be drawn at a later date to receive $100 Visa gift cards and the chance to go shopping with PFCU CEO Bob Falk for back-to-school supplies. Purdue FCU serves more than 60,000 members with nearly $700 million in assets.

Business Services Program Launched

BIRMINGHAM, Ala.-Alabama Telco CU has launched a new business services program to help members who are small business owners and professionals.

The program offers competitive rates and products such as business checking accounts, savings, money markets, CDs, loans, lines of credit and more. The CU has also partnered with First Data to provide merchant services, including point-of-sale payment solutions, terminals, loyalty programs, payroll cards and more.

Alabama Telco's Business Choice Checking Account offering includes a free debit card and a choice of features, including ATM refunds, free wire transfers, free cashier's checks, the option to earn interest on the account and more. Participating businesses also receive online banking, online bill pay, telephone banking and free online statements.

Bellco Revamps Platinum Card

DENVER-Bellco CU has unveiled a new look for its Visa Platinum Rewards Card, along with a new rewards program.

The new-look card-featuring outdoor images courtesy of local Colorado photographers-offers triple ScoreCard Bonus Points for purchases made on sporting goods, recreation, fitness and more. Double points are available for recurring expenses such as gas purchases or cell phone and Internet bills. Cardholders can register online to review their reward accounts and track accumulated points.

The photos on the card and the rewards structure were designed to celebrate Coloradans' active lifestyles. Three different images are available: moonrise at Denver International Airport, Bear Lake in Rocky Mountain National Park and fall colors at an Aspen grove. The images were selected from more than 135 submissions as part of Bellco's "Uniquely Colorado" photo contest and can be viewed in the "photos" section on the CU's Facebook page.

Reloadable Visa Card Offered

ST. PETERSBURG, Fla.-The CU Association of New Mexico has partnered with PSCU here to offer a new reloadable Visa card for teen credit union members.

The card is available through the "Claim Your Youth" marketing initiative from CUANM, and is designed to improve teen budgeting, money management and credit responsibility. Teens can control their own spending habits with the card, while parents can use their computer to load funds onto the card, as well as track purchases, receive card balances and other information via text messages.

In addition to "Claim Your Youth," CUANM offers other programs for young CU members, including the Kirby Kangaroo Club, the CU Succeed Network and the CU Thru financial literacy online program. For info: www.cusucceed.net.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.