Eaton Family Credit Union News

On June 15, 2011 The Cleveland Plain Dealer ran an article by Teresa Dixon Murray titled, "Cleveland debit card spree getting bigger as more than 1 dozen banks, credit unions affected." The article starts, " The local debit card fraud breach that was discovered last month is much wider than first realized, striking just about every major bank in the area and some of the biggest credit unions across Northeast Ohio." Click here to read the entire article. Eaton Family Credit Union wants you to do the following if you think you are a victim of fraud and specifically debit card fraud. Fill out a police report with your local police department. Contact us or call 800-264-5578 anytime to discuss debit card fraud concerns. Here are some options we will discuss to ensure your account is safe and will remain safe. Monitor your account daily with home banking , MATT Line TouchTone Teller or EFCU Mobile . If applicable remove automatic overdraw services including autom...

Once again Eaton Family Credit Union doubled the previous year’s donation for the American Cancer Society Relay For Life held on May 13 – 14, 2011 at Euclid High School by raising more than $2,500. To augment their usual fundraising efforts, Eaton Family Credit Union partnered in a drawing for a Craftsman Lawn Mower with Sears Hardware in Willoughby Hills. Images and more information available at www.EatonFamilyCU.com/RelayForLife.php

Eaton Family Credit Union is very proud to announce that Aaron DeAngelis from Euclid High School, Byren Malone from Euclid High School and Jaclyn Noonan from Willoughby South High School have each been awarded $1,000 college scholarships. Click here to read more and see photos.

In the Tuesday, April 12, 2011, Cleveland Plain Dealer , Teresa Dixon Murray , Business Writer and Columnist, wrote an article called, " Bank customers can expect new fees for using ATMs, talking to tellers, transferring money." In the article she writes, " Fees like these are on the rise this year as banks nationwide grapple with how to recover billions of dollars in lost revenue now that they can't make as much from overdrafts fees, credit card interest and debit card usage fees as they once did." Click here for the entire article. Click here to see the chart, "What some banks will be charging you." Here are some of the types of fees mentioned in the article and what we charge per monthly and annually: Non-branded ATM-only card = $0.00* vs. $10 annually from PNC Bank MasterMoney Debit Card = $0.00* vs. $3.95 monthly from 5/3 Bank Checking Account = $0.00 with no minimum or monthly average vs. $20 monthly from CitiBank and $9 monthly from Bank of A...

Eaton Family Credit Union was awarded the Medium Business of the Year Award for 2010 at the Western Lake County Chamber of Commerce Annual Meeting on April 30, 2011. Click here or go to EatonFamilyCU.com/WLCACAward.php see photos, hear the complete press release and a an interview.

There is a very interesting article written by Bill Handel from The Raddon Repor t on March, 9, 2011 it starts: There is movement afoot to address the issue of debit card interchange. Unless you’ve been on safari for the last three months, you are very much aware of the loud industry protestations resulting from the Federal Reserve’s Reg II, which was issued in December. Click here to read the entire article. The Durbin Amendment was meant to be consumer-friendly. Mr. Handel includes possible ways financial institutions could react that are actually very UNfriendly to consumers: Reduce its full-time employee count by 18 people, an effective reduction of 11 percent. This assumes $4.5 million assets per employee and $65,000 in salary and benefit costs per employee. Or … Lower its rate on deposit accounts by 16 basis points, or … Impose a $6.08 per month fee on checking accounts with balances below $1,000. This assumes that 60 percent of checking accounts have balances of less th...

Eaton Family Credit Union offered up holiday cheer to residents of Nottingham Home in Cleveland with gifts from Santa, holiday singing and a pizza party. The event is a highlight of the holiday season for everyone. “It is important to all of us at the credit union that we give back to the community,” said Mike Losneck, President, Eaton Family Credit Union. “Over the years we’ve developed a relationship with the guys at Nottingham , they know us and we know them. It is great to see their smiles when Santa provides a special present.” Click here to view photos or go to www.EatonFamilyCU.com/charitable.php

We found an article that sheds light on the structure of the credit union industry and the need to mitigate risk. "Credit unions paying for risky behavior of a few" from MSNBC starts, "Two years after the height of the financial crisis, the American economic landscape still bears resemblance to a war zone: You never know when you're going to step on another land mine. Case in point: The nation's credit unions, many of them tiny outposts in the realm of banking giants...If you are looking for financial villains, you won't find many in that world...But every credit union in the country finds itself paying to clean up a multibillion-dollar created by a handful of failed 'corporate' credit unions..." Click here to read the entire article.

On Saturday, September 25, 2010 the Wall Street Journal published an article titled, "Credit Unions Bailed Out." The article starts, " T wo years after the peak of the financial crisis, the federal government swooped in to stabilize a crucial part of the credit-union sector battered by losses on subprime mortgages. Regulators announced Friday a rescue and revamping of the nation's wholesale credit union system, underpinned by a federal guarantee valued at $30 billion or more. Wholesale credit unions don't deal with the general public but provide essential back-office services to thousand of other credit unions across the U.S. The majority of retail credit unions are sound, but they will have to shoulder the losses through special assessments over the next decade." Click here to read the entire article. So what does this mean to you as credit union members? Eaton Family Credit Union is safe and secure. In our most recent audit exam, "it was determi...

Eaton Family Credit Union members and employees were all smiles for the seventh annual member appreciation day on Friday, July 2 nd . The festive theme of “Don’t worry, be happy…you’re with a credit union” was shown inside and outside with smiley face decorations. Funds were raised in support Rainbow Babies and Children’s Hospital. Attendees and partners: State Representative Kenny Yuko, City of Euclid Mayor Bill Cervenik, Cameron Zwagerman from WELW 1330 AM Radio, Kathy Will from City of Euclid Recreation, Robbie Baughman from Jay Honda and Michelle Julian from Enterprise Car Sales. More information and photos at www.EatonFamilyCU.com/AppreciationDay2010.php

Eaton Family Credit Union is very proud to announce that Sasha Huston from Eastlake North High School, Rebecca Siegel from Solon High School and Cory Waite from Willoughby South High School have each been awarded $1,000 college scholarships. Click here for photos and more information.

Eaton Family Credit Union doubled last year’s donation during the American Cancer Society Relay For Life held on May 14th & 15th at Euclid High School by raising $1,150 with support from our friends including Atlas Cinemas in Euclid and Mentor Capps Pizza in Willoughby Hills Godfather’s 3 Pizza in Willoughby Hills Humphrey Popcorn Company Rascal House Pizza in Euclid Tizzano’s Party Center in Euclid Zeppe’s Pizza in Willoughby Hills Click here for photos and more information.

"Everyone who has ever had a loan or a credit card has a credit report (as you discovered), and the contents of that report can impact your financial plans for years." From our friends at Brass is an article geared to youth but helpful for anyone using and accessing credit with a focus on "maintaining your reputation." Find out about the Record, Access, Raw Data, Challenging the Record, Cost of Credit, Knowing the Score, Improving Your Score and the Bottom Line. Click here for the complete article in Brass Summer, 2010 .

Credit union members find Hidden Money Secrets. Area residents and credit union members learned how to “Find Hidden Money Secrets” in five simple steps on Wednesday April 28, 2010 at Willoughby Hills Community Center. Jay Seaton, President, Consumer Credit Counseling Services, spoke about the importance of obtaining an annual credit report and included information from the credit union-sponsored Home & Family Finance Radio program heard every Sunday at 3:00 PM on WELW 1330 AM. “Every time I hear Jay’s presentation I learn something new,” said Terri Halaburda of ACME Federal Credit Union. “Area credit unions did a great job in promoting financial awareness to their members and the community” The Hidden Money Secrets financial education seminar and Home & Family Finance Radio program is sponsored by ACME FCU, Cardinal Community CU, Eaton Family CU, L.C.E. FCU and WES CU with support from the Ohio Credit Union Foundation. Click here for photos and audio from the event.

Eaton Family Credit Union is proud to offer an enhanced multimode mobile banking service to its membership called Eaton Family CU Mobile. “Now just about any member with a cell phone can get account access,” said Mike Losneck, President. He continues, “Since this account information is easily available we can better help members figure out how to meet their goals rather than just provide balances and transactions.” Eaton Family Credit Union members can view account information using mobile phones via text messaging, Internet browser (WAP 2.0) and downloadable application using compatible smartphone or iPhone, they can: • View account balances. • See recent history. • Search account activity. • Transfer funds. • Find nearby shared branch locations. Click here to start using Eaton Family CU Mobile now.

Eaton Family Credit Union raised $600 for the Northeast Chapter of the Ohio Credit Union League College Scholarship during the annual Bowl-A-Thon at Scores Fun Center in Painesville. Click here to see the team photo.

Click here to see photos, listen to the meeting and read our 2009 Annual Report

Click here for photos from the March, 2010 Annual Meeting in Lincoln, IL. Eaton Family Credit Union is happy to announce that Eaton Employees Credit Union members in Lincoln, IL will continue to use their local office and can now take advantage of many more products and services as well. Click here for more information on recent mergers.