Eaton Family Credit Union News

On September 26, 2011 USA Today ran an article by Sandra Block titled, "Like your free checking? Prepare to say goodbye." Click here to read the entire article. Ms. Block makes the following points about the current status of checking accounts: Only 45% of non-interest bank checking accounts are free and the average monthly fee is $4.37. Eaton Family Credit Union does not charge for non-interest nor interest-bearing checking accounts. The average rate for an interest-bearing checking account is 0.08%. Eaton Family Credit Union Advantage Checking earns 0.10% with a $1,000 balance and 0.30% with a $1,500 balance. The article also mentions a possible change in fee structure for debit card usage such as a $5 monthly fee from SunTrust...we don't charge you to use a debit card for purchases. Click here to learn more about Eaton Family Credit Union's FREE Checking.

On September 12, 2011 The Street ran an article by Philip van Doorn titled, "Are Credit Unions FDIC Insured?" Click here to read the entire article. Mr. van Doorn answers his question, "No, but it doesn't matter." Further in the article he mentions the National Credit Union Administration , NCUA, the credit union federal insurance fund. At Eaton Family Credit Union, your savings are insured to at least $250,000 and backed by the full faith of the United States Government by the National Credit Union Administration (NCUA), a U.S. Government Agency. In addition, Eaton Family Credit Union accounts are privately insured to $250,000 by Excess Share Insurance (ESI), a division of American Share Insurance. Our answer is also, "no" because all accounts at Eaton Family Credit Union are insured to at least $500,000 with a combination of federal and private insurance.

On September 2, 2011 The Dallas Morning News ran an article by Pamela Yip titled, "Secured credit cards give credit-challenged consumers a fresh start." Click here to read the entire article from The Silicon Valley Mercury News . The article states, "Secured (credit) cards are a good steppingstone for credit-challenged consumers." The writer proposes key questions...here are our answers: How much do you need to deposit? At least $250 but you can deposit as much as you want. Most Eaton Family Credit Union Secured Visa Cardholders have from $500 to $1,000 on deposit to "secure" their credit card. Where can you get a secured credit card? From Eaton Family Credit Union. What fees will there be? There is no annual fee for any of our credit cards. Click here to learn about other fees. Does the issuer report to all three major credit bureaus? Yes, we do. How long will it take to qualify for an unsecured card? For members with no credit, it might at least six m