June 2013
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DON’T TAX PROGRESSIONS CREDIT UNION!
Congress is considering possible legislation to reform the U.S. tax code. It appears lawmakers are considering a “blank piece of paper” approach—under that scenario, all exemptions would be removed from the tax code and Congress would start from scratch to write a new tax code. If Congress goes down that road, all tax exemptions, including the credit union tax status, could be gone. If we preserve our tax status, we must ensure our voice is heard loud and clear on Capitol Hill, and that there is no doubt in Congress that a tax on credit unions is a tax on 96 million Americans, and therefore unthinkable.
How does this impact you?
Any tax on credit unions is really a tax on its members since credit unions are cooperatively owned by the people they serve. If credit unions were taxed, their benefits to members and communities will be lost, and a consumer-friendly option in the financial marketplace will vanish.
TAKE ACTION
Now is the time to mobilize and deliver a strong message to Congress: “Don’t Tax My Credit Union.”
Use These Resources To Let Congress Know You Will Not Let Them Tax Your Credit Union
- WRITE THEM AN EMAIL
- Call Your Members of Congress: 877-642-4223
- Join the CUNA Advocacy Facebook Page to Let Your Voice Be Heard
For more information visit www.donttaxmycreditunion.org
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REFINANCE SPECIAL PUTS CASH IN YOUR POCKET
Are you paying too much interest on your vehicle loan each month with another lender? Could you use some extra cash? You already know that we have competitive rates, but for a limited time, we’re giving you a little extra incentive to switch to Progressions. We will pay you 1% of your refinanced loan amount up to $300.00! We also rate match the contracted rate of the other financial institution, or you may qualify for a lower rate.*
Don’t delay, put money in your pocket today! Be sure to mention this offer.
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FINANCING FOR YOUR CHILD’S FUTURE
Your child just graduated from high school and they are heading off to college in the fall. What a great accomplishment and wonderful feeling that is, but have you considered how you’re going to help pay for your child’s college education? We want you to put those worries behind you so you can relax and watch your child succeed!
- First Deed or Second Deed Trust- Fixed or Adjustable rates available. Lump sum disbursement whether you choose an equity loan or refinancing with cash out.
- Home Equity Lines of Credit (HELOC) - Adjustable rate with an 8 year draw period. You can access as needed.
- Visa Credit Card- Carry us in your wallet for the ultimate convenience!
- Personal Line of Credit– Access in person, by online banking (SmartLink) or Phone (Smartline) as needed.
*HOME SECURED LOAN DISCLOSURE: Contact Herb Anderson (NMLS #787236) at 509-622-2011 or Jana Earle (NMLS #787237) at 509-622-2017 for loan to value limits, rates, fees, and other qualifying information.
Visa and Personal Line of Credit Rates
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REWARD YOURSELF THIS SUMMER
With our auto special being such a success, Progressions Credit Union has extended this exclusive offer through the month of August! Take advantage of this extended offer of no payments for 90 days on our auto loans before it’s gone for good!
For other great rates on spring & summer toys, home loans, and many others, head over to our rates page to see how Progressions Credit Union can save you money.
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PLUG IN THE NUMBERS, GET THE ANSWERS
Whether you are looking to figure out if a Roth IRA or a Traditional IRA is best for you, or maybe you are trying to determine how much you can afford to spend on an automobile, Progressions Credit Union has the tools to help you make those decisions.
A FEW OF OUR CALCULATORS
Our Fuze database can also answer many of your financial questions. Simply type in a keyword, or a full question, and our Fuze database will find the best responses.
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2ND HARVEST AND NALC FOOD DRIVE UPDATE
Many Progressions Credit Union employees helped out with the National Association of Letter Carriers (NALC) Food Drive on May 11th. From Hays Park to Manito and all the way out at the Sunset Hill Post Office, designated teams of two drove mail routes collecting bags of food.
It was an incredible experience seeing everyone volunteering for such a great cause, and even more inspiring seeing how much Spokane really cares as evidenced by the amount of food that was donated. In total, the NALC food drive collected over 100,000 pounds of food! Progressions Credit Union would like to thank everyone, especially our members, who came out and volunteered their time.
FOR MY PICTURES FROM THE EVENT, CLICK HERE!
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PROGRESSIONS CREDIT UNION’S BOOM! SCHOLARSHIP WINNERS
Congratulations to Mitchell Pratt and Mary Spencer, who each received $500.00 scholarships to go toward their college education! Good luck to both of you as you prepare for your future.
The annual Scholarship contest is one of the many benefits of being a Boom! member. Be sure the 2014 graduating high school senior in your life enters a chance to win money toward their college education next year.
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YOUTH “SAVINGS SLEUTH” CHALLENGE UPDATE
“Savings Sleuth” Challenge Winner
Jordin
Jr. Stamper Account
Jordin won the $100.00 prize and had the money deposited into her savings account. Congratulations Jordin!
Many new accounts were opened in April, and by the end of the month, $2105.35 dollars in total were deposited into youth accounts. What a fantastic job by our amazing youth members!
To learn more about our youth accounts, click here!
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KIDICAL MASS BIKE RIDE UPDATE
Kids and their families were invited to Kidical Mass, a fun, safe bike ride designed especially for kids on Saturday, May 18th. The family friendly afternoon bike ride consisted of about a 3 mile bike ride around Chief Garry Park and the surrounding neighborhood. Progressions Credit Union was there and donated 25 youth bike helmets to neighborhood kids at the event. It was a great event and Progressions can’t wait to participate again next year.
FOR MORE PICTURES FROM THE EVENT, CLICK HERE!
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9 TIPS TO IMPROVE YOUR CREDIT SCORE
Your credit score is more important than you may think — because it’s now used for far more than just assessing you when you want a mortgage. Unbeknownst to many folks, credit scores are being checked by prospective landlords, employers, insurers, and even utility companies. Thus, it’s well worth your time to check your numbers out and to work to improve your credit score.
Here is a bunch of ways you might improve your credit score:
- Check your credit report, and have any errors fixed by contacting the credit agency behind the report. There may be incorrect late payments on the report, for example, or a debt balance may be wrong, or a debt listed that isn’t even yours! These kinds of things can depress your score.
- Shrink your debt. Owing a lot of money, perhaps by approaching the limits on your credit cards, is a strike against you. It’s not easy to get out of debt, but it’s very valuable to do so, as it can vastly improve your near-term and future quality of life.
- Practice good habits with your credit. Pay bills on time from now on, as late payments will ding your score.
- Still paying by check? Switch over to online SmartPay bill payer, and enjoy the convenience of paying your bills online.
- Don’t open lots of new accounts, as that can lower your score, too. Few of us need more than a few credit cards. That said, if you don’t have a credit card, do consider getting and using one (responsibly), as that’s a good way to build a positive credit history and improve your credit score. There’s no need to use it aggressively, though. Simply using it a little is enough.
- It can also boost your score to have at least one installment loan, such as a car loan, mortgage, or student loan, as regular payments on it will prop up your score.
- We offer incredible rates on Auto loans all the way to Home Equity loans. Visit our rates page to learn more.
- Don’t close out credit accounts that you’re not using. It’s counter-intuitive, but doing so doesn’t help your score and it could even hurt it. Why? Well, because credit agencies calculate how much you owe compared to how much you can borrow. By closing a credit card account, you lose that credit limit and the ratio of your current debt to your available credit will suffer.
- If you need or want to close an account, close a newer one. The length of time that you’ve had an account matters, so hang on to your oldest accounts.
- You can rearrange your credit debt to your advantage, too, by transferring some balances and spreading your debt over several cards. It’s better to have few or no cards maxed out or nearly maxed out. Ideally, you should owe no more than about a third of your credit limit on each credit card. (Still, paying off that debt is a far more effective way to improve your credit score.)
- Try asking for an increase in your credit cards’ limits. (Just don’t get carried away and borrow more then.) A higher limit will make your debt profile better, as you will owe a smaller percentage of your total available credit.
Achieving and maintaining a high credit score can benefit you in many ways, saving you lots of money. And it’s not rocket science, either. As Craig Watts, consumer-affairs manager of credit rater Fair Isaac has explained, you just need to “pay your bills on time, keep account balances low, and take out new credit only when you need it.” So improve your credit score, and profit from it.
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ATTENTION: NEW DRIVE THRU HOURS EFFECTIVE JUNE 3RD
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TAKE THE WHOLE FAMILY TO SILVERWOOD FOR LESS!
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HOLIDAY CLOSURES
Independence Day - Thursday, July 4th
Labor Day - Monday, September 2nd
Columbus Day – Monday, October 14th
Veteran’s Day - Monday, November 11th
Thanksgiving – Thursday, November 28th
Christmas Eve (Noon) – Tuesday, December 24th
Christmas Day – Wednesday, December 25th
