Eaton Family Credit Union News

We are compiling information regarding credit reports and credit scores. Credit Report Errors from MyCreditUnion.gov sponsored by National Credit Union Association NCUA  covers how to deal with disputes on credit reports How can I correct errors found in my credit report? Click here to see a Sample Dispute Letter What happens next? What if nothing is resolved? What if I am still dissatisfied? On Saturday, May 18, 2013, Sheryl Harris , The Plain Dealer , wrote an article, " More credit myths that can trip you up. " Click here to read the entire story. In the article she discusses the following myths and facts. Myth: It's not important to order your credit report Fact: credit reports contain errors. Myth: If you co-sign a student or other loan, it doesn't affect your credit Fact: payment information on co-signed loans can be reported. Myth: Freezing a credit report locks all companies and debt collectors out Fact: lenders can have acces...

On September 10, 2012 The Cleveland Plain Dealer ran an updated article by Teresa Dixon Murry titled, " Local banks charge higher checking fees; some even charge to mail you a statement." She writes, "... most banks in Northeast Ohio are raising common fees for things like overdrafting your checking account, getting a cashier's check or using another bank's ATM." Click here to read the entire article. Also click here to see more from August, 2011. She includes a chart listing fee changes from last year. Here are our fees and any changes we've made. Overdraft = $25...no change Cashier's Check = $2...no change Other bank's ATM = $0 for the first 8 transactions with $1,000 savings or direct deposit then $2 per transaction thereafter...no change Stop Payment = $25...no change Wire Transfer = $17...no change Lost ATM Card = $0 for the first then $15 thereafter...no change Returned Deposit = $15...no change Click here for o...

On Wednesday, September 5, 2012, Sheryl Harris ( @consumerwrite r), Consumer Affairs writer, from the Cleveland Plain Dealer , wrote an article " Pew study finds prepaid cards valuable for some, but carry risks ." Click here for link to the complete study, "Loaded With Uncertainty: Are Prepaid Cards a Smart Alternative  to Checking  Accounts?" . Click here for a report about the study. The Pew report lists four findings in the review of  52 prepaid cards. Below you can the find this information and related comments about our FREE Advantage Checking with FREE Debit MasterCard . The varying fee structures and disclosures for prepaid cards make comparison shopping very difficult because most products have 7 to 15 individual fees to consider and their disclosures are not uniform. Eaton Family Credit Union discloses all fees - click here for our fee schedule. The cost of prepaid cards can be less than checking accounts, but the cards come with significa...

On February 22, 2012 The Cleveland Plain Dealer Consumer Affairs Reporter Sheryl Harris wrote a story about the Consumer Financial Protection Bureau and their investigation of financial institution fees called, " Agency to investigate bank overdraft fees ." In the article she states, "...the agency wants to know whether banks process consumers' transactions in an order that makes overdrafts more likely." We process transactions chronologically. If you have overdraft protection on your Eaton Family Credit Union checking account, be assured that we do not process transactions to maximize overdraft fees. More specifically, we process your account transactions as they come in. Here are some details by category: Debit Cards - when debit cards are processed after purchase is important because some companies process immediately and others batch process. Therefore you might purchase an item today but we will not see the transaction until tomorrow or t...

At Eaton Family Credit Union we take our jobs very seriously. We appreciate that you trust us to make good decisions. Below you will find articles about the investigation at St. Paul's Croatian Credit Union in nearby Eastlake and the  efforts we take to ensure your money is safe with us. On February 9, 2012 another article was featured on the front page of the The Cleveland Plain Dealer that focuses on an organization that makes investments throughout northeast Ohio. The article by  Michelle Jarboe McFee , " Cleveland International Fund looks for way forward after resignation, indictment of CEO " includes references to alleged fraud committed at the failed  St. Paul Croatian Federal Credit Union. A companion article by  John Caniglia , " Pepper Pike financier A. Eddy Zai indicted in Croatian fund swindle " references bribes paid to St. Paul's officials. On September 28, 2011 The Cleveland Plain Dealer ran an article by James F. McCarty titled, " ...

On August 15, 2011 The Cleveland Plain Dealer ran an article by Teresa Dixon Murray titled, "Fees Rise At Cleveland-area Banks." The article states, "A year after having a cap put on their overdraft charges, banks look toward other fees to make up the difference." Click here to read the entire article. First of all, Eaton Family Credit Union does not charge to take in rolled coin. We do ask our owner/members to let us know if they're bringing in a whole bunch. Secondly, there is a 2% fee to deposit loose coin at our Euclid office and other fees for cash or for non-members. Lastly, regarding fees, click here for our complete fee schedule (also listed under Disclosures on our website). Here are our fees for the information in the PD chart Overdraft = $25 Cashier's Check = $2 Other bank's ATM = $0 for the first 8 transactions with $1,000 savings or direct deposit then $2 per transaction thereafter Stop Payment = $25 Wire Trans...

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...

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...

In the Saturday, March 12, 2011, Cleveland Plain Dealer , Sheryl Harris , Consumer Affairs Columnist, wrote a comprehesive article called, "Lost wallet? What to do when keys, cards and other stuff goes astray." She starts, "The things we carry could cause us a lot of grief if a thief got hold of them - which is why most of us panic when we lose a driver's license, keys or a stuffed wallet." Click here to read then entire article. She continues to list specific items and the ways to proceed if lost: Driver's License Insurance Card ATM or Debit Card College ID Card Credit Card Library Card Rewards or Check Cashing Card Keys For only $2.50 per month Eaton Family Credit Members can Prevent, Detect and Resolve Identity Theft . Payment Card Protection - protect all your credit, debit, ATM and check cards. CardPatrol - real-time, early warning system. MyIDMatters - news and information about fraud and identity theft. Fraud Assistance - a team to assist you if ...

On Saturday, January 22, 2011, in the Cleveland Plain Dealer , Teresa Dixon Murray wrote an article titled, "Ask your bank these tough questions about debit cards: Money Matters." The article starts with a question from C.M. from Berea The Question : In your Jan. 1 column, you said you were against debit cards. I was wondering if you could explain your reasoning. The Answer: For those who haven't read my rants over the years about debit cards that are connected to a person's primary checking account, here's why I think they're horrible... Click here to read the whole article. Here are some questions Ms. Dixon Murray includes at the end of the article and our answers 1. How can you make sure my account doesn't get hit by fraud or a billing error that drains money intended to cover a check I already wrote or an automatic payment already scheduled? Eaton Family Credit Union members are the first line of defense against fraud by limiting with whom they share...