According to a study recently conducted by Ohio State University, consumers are not paying off debt as quickly as they once were. In fact, some younger Americans often pile on so much debt between credit cards, student loans and other financing that they won’t be able to pay it off until they’re 70 or older! That’s a long time!

credit-card-debt

Of course, there’s nothing wrong with loans and credit cards. In fact, there are many benefits to using them when building a strong credit history. But it’s important that you pay them back in a timely manner in order to keep your credit in good standing and to save some money.

Your best investment is to pay off high-interest debt. Since the average loan has a higher interest rate than the average savings or investment account, this will allow you to save more money in the long run. By paying off your highest interest-rate debt first (usually credit cards), you’ll be able to take an entire bill off your monthly list and have more money to contribute to other loans or savings. Just think of how much better your paycheck will look with one less bill to take out of it!

Use EECU’s “Paying Off Loans” Worksheet to keep a list of your loans’ interest rates and begin working more aggressive debt repayment into your monthly budget. When you’re 70 and your loans are long gone, you’ll be glad you did!

Current apps will be deactivated January 15!

We’ve made some upgrades to our mobile offerings to bring you new applications for iPhone and Android devices, and a brand new app for iPad!

In order to take advantage of the new features and continue accessing your EECU accounts anywhere and everywhere, search for “EECU Mobile Banking” in Apple’s App Store or Google Play and download our new app today!

In addition to functionality for iPad users, all versions of EECU’s Mobile Banking app will work more smoothly with each device to make navigation simpler and account management easier.

EECU’s smartphone apps allow members to access and manage accounts anywhere, anytime.

  • Access Accounts
  • Transfer Funds Between Accounts
  • Pay Bills
  • Deposit Checks
  • Find Branches and ATMs

For smartphone users who don’t have an Apple or Android device, you can access many of the features you enjoy in Online Banking by visiting m.eecu.org on your mobile Web browser and logging in with your Online Banking credentials.

Be sure and download EECU’s new app in order to continue accessing your accounts!

Each year, we have the honor of presenting six $5,000 scholarships to deserving applicants within the communities we serve. Three scholarships will be awarded to students intending to enter the field of education, and three scholarships will be awarded to students selecting a career other than the educational field.

EECU’s scholarship committee will consider those students who meet the following eligibility requirements and proof of intent: Continue reading

Each year, EECU utilizes its branches to collect non-perishable food items to help families in need during the holiday season. This year, we continue that tradition.

 

 

Now through December 15, stop by any EECU branch to donate food items benefiting Tarrant Area Food Bank as well as one of EECU’s adopted schools. The annual food drive is part of EECU’s long-standing commitment to the communities it serves as well as the financial stability of individuals and families in Tarrant County and its surrounding areas.

Last year, EECU was able to provide 818 pounds of donated food as a result of the food drive, and this year, we hope to bring in even more! So stop by any of EECU’s 13 branches today with food items and help us keep families happy and fed this holiday season.

As you’ve likely noticed, eecu.org has gotten a pretty major facelift today. And with the new look comes a few extra perks. Check out these helpful new features:

We’re keeping you updated

On the EECU blog, you’ll find news about our credit union, updates on our community involvement and tips for leading a healthy financial life. Have an idea or special blog request? Let us know by emailing community@eecu.org or by leaving a comment. Be sure and come back soon to read about the latest here at EECU.

We’re here to help

When you’re first starting out, managing your personal finances can be a challenge. If you’re just getting to know the financial world, check out our new Young Adults section to learn about different tools to help you reach your goals and even find some resources to help you get there.

We’re here to talk

In addition to eecu.org, we’re breaking into the social media world too! For the Facebook users out there, we’ll be keeping up with the latest goings on in the communities we serve. Visit EECU’s official Facebook page to Like us and join our conversation.

Leave us a comment and let us know what you think of our new updates!

 

In honor of International Credit Union day which comes around every October, EECU partnered with Junior Achievement of the Chisholm Trail this past Wednesday to swarm Fort Worth ISD’s De Zavala Elementary School with a day of financial education.

If you’re not familiar with Junior Achievement, this nationwide program aims to equip students with knowledge to be professionally and financially successful after they leave school through programs and activities that bring money and business to life. Although the Junior Achievement program is normally spread out through several weeks, EECU opted to make a day of it with a special “JA in a Day” format.

EECU volunteers were able to spend the whole school day with De Zavala students to teach them about our city, how businesses work and how to make smart decisions with their money using hands-on activities to make these subjects fun.

When it comes to banking, residents of Fort Worth and surrounding areas don’t lack choices. But when the Star-Telegram, Fort Worth’s largest daily newspaper, asked its readers where they prefer to keep their money in its annual Readers’ Choice poll, local credit union EECU took home the title of Best Local Bank/Financial Institution/Credit Union.

The Star-Telegram Readers’ Choice poll offers locals the opportunity to pick the best places in town for entertainment, food, sports, shopping and anything else there is to do in the area. Readers choose from any businesses operating in Fort Worth, including national and international chains and franchises. So with dozens options to choose from within the category, the competition is stiff.

“We’re proud to know that the Fort Worth community has made us its go-to place for financial services,” said Lonnie Nicholson, president and CEO of EECU. “We tailor our solutions to our members’ specific needs in order to serve our community in the best way we can, and it’s clear that this commitment truly makes a difference when the time comes for someone to choose where they take their business.”

This is not the first year EECU has received this honor, having taken the title multiple times in past years. The 77-year-old credit union has a strong history of membership within its communities, and was even cited for its strong growth by the Fort Worth Business Press earlier this year. Now that the readers have made their choice, the credit union looks forward to serving Fort Worth in the coming year with the same commitment to meeting needs.

In the past weeks, Fort Worth Animal Care and Control has been challenged with an overwhelming intake of animals, and without the space or supplies to accommodate them, many animals have been placed on the euthanasia list. So in order to help alleviate this dilemma, EECU is preparing its headquarters branch for the shelter to offer half-priced, on-site adoptions June 15.

Continue reading

EECU CEO Lonnie Nicholson congratulates essay contest winner

The contest challenged local students to consider their future roles in the community, and EECU’s participation is a reflection of its commitment to the academic success of Fort Worth’s students and its investment in the strength of the community. In support of the program, EECU contributed the tax, title and licensing fees so that the winning student would have no out-of-pocket costs. Continue reading