The Benefits – and Savings! – of an IECU Auto Loan

Before heading to the auto dealership, make IECU your first stop.  We’re here to help you navigate the process and make sure you get the best deal for your money.

Great Rates:  Check out our competitive, low rates.  If you find a better rate from another lender, let us know and we will try to beat it with our “Beat the Rate” program!shutterstock_213258214

Pre-Approval:  With a Pre-approved Auto Loan, you’ll know your budget, payment amount, and interest rate before you shop, and you can take up to 30 days to find your perfect vehicle.  With your pre-approval letter in hand, you can also avoid the pressure to accept dealer financing.

Affordable Extras:  IECU has affordable coverage options to help protect your investment.  We offer Extended Warranties and GAP (Guaranteed Auto Protection) insurance at a lower cost than the dealership, so your car is covered and you keep more money in your pocket.

Refinance and Save:  Members who have refinanced their loans from other lenders have seen great savings!  Consider these real-life examples of members who have saved hundreds and thousands by refinancing with IECU:

  • One member cut her interest rate from 23% down to 7.75% and saved $95 per month.
  • Another member cut his rate by over 4% and took a full year off the term of his loan.
  • A third member cut her rate by 13%, took 6 months off the term, and saved more than $7,000 over the life of the loan.

Contact one of our Loan Officers today and get a great deal on your next auto loan!  Applications are accepted in person, online, and by phone at (217) 528-2642.

 Some restrictions apply. Rates, terms, and conditions vary based on credit, qualifications, and collateral and are subject to change without notice. Pre-approval is valid for 30 days from date of issuance. All loans are subject to approval and eligibility and must fall within IECU guidelines. Contact a Loan Officer for more details.

Spread the Word about IECU – Refer a Friend Today!

As a member of Illinois Educators Credit Union, you know that membership has its perks:  great rates and lower fees, friendly personal service, and a wide range of products and services.  If you have enjoyed the benefits of IECU membership, be sure to tell others about us!  The best compliment a member can give us is a referral.  If you have friends, family, or colleagues who fall into our field of membership, encourage them to open an IECU membership.

Our field of membership includes employees and retired employees of all public school districts in Sangamon County; employees of Athens CUSD #213, Carlinville CUSD #1, Greenview CUSD #200, andWinchester CUSD #1; members of the Illinois Edcuation Association; employees, retired employees, and students of the University of Illinois at Springfield and Lincoln Land Community College; employees of the Hope School Learning Center, the Sangamon Area Special Education District (SASED), and the Horace Mann Insurance Companies; and immediate family members of current IECU members.  For questions about membership eligibility, please contact IECU at (217) 528-2642.

Skip-a-Pay and Free Up Some Cash!

mailing bill paymentsSometimes it seems like there’s never enough money – an unexpected expense comes up and suddenly you find yourself short.  That’s why IECU offers Skip-a-Pay!  You can apply to skip your regular monthly loan payment, with just a low $35 fee to help keep more money in your pocket for those other expenses.

Skip-a-Pay is available on loans with balances of up to $30,000, excluding Second Mortgages and Visa Credit Cards.  Depending on the current balance and status of your loan, you may skip up to two payments per year.  A completed Skip-a-Pay application is required, along with a $35 fee for each skipped payment.  Applications are also availble in the IECU Offices, and may be submitted in person or by fax (email applications are not accepted).  When the Skip-a-Pay period is over, your payments will resume as usual per your loan agreement.  For addtional information about the terms and conditions of IECU’s Skip-a-Pay program, please contact one of our Loan Officers.

Looking for an ATM or Shared Branch? There’s an App for That!

For IECU members who are traveling or don’t live close to our offices, the CO-OP ATM and Shared Branch Networks provide convenient access to funds.  These networks offer access to thousands of ATM and credit union branch locations throughout the United States, as well as some international locations.  To make it easy to find an ATM or Shared Branch location, CO-OP offers two easy-to-use smartphone apps!  The CO-OP ATM Locator app and the CO-OP Shared Branch app are both free to download and are available for iPhone and Android devices.  Check the App Store (iPhone) or Google Play Store (Android) and see how easy it can be to find an ATM or Shared Branch location near you!

New IECU Fee Schedule Effective March 1, 2014

In our Winter 2014 Newsletter released in January, Illinois Educators Credit Union members were notified of changes coming to the IECU fee schedule.  These changes will take effect on March 1, 2014.  The updated fee schedule may be viewed here, and you may also pick up a copy at either IECU Office.

Requesting Your Credit Report

Under the Fair and Accurate Credit Transactions Act (FACT Act), consumers have the right to obtain a free copy of their credit report once every 12 months from each of the three nationwide consumer credit reporting companies:  Equifax, TranUnion, and Experian.  These reporting agencies have created AnnualCreditReport.com, a centralized service for consumers to request their free credit reports.  The site offers a quick and secure way to request, view, and print your credit report.

IECU strongly encourages members to check their credit reports on a regular basis. Regular monitoring of your credit report will allow you to verify that all of the information is accurate and that all accounts in your name are rightfully yours.  If you discover any incorrect information or an account that you did not open, it’s important to notify the credit reporting companies as soon as possible.

You may choose to request your credit report from one reporting agency every few months, allowing you to check your report periodically throughout the year, or you may request all three reports at the same time.  Requesting a copy of your credit report will not negatively affect your credit score.

To request your credit report on AnnualCreditReport.com, you will be asked to provide your name, date of birth, Social Security Number, and address information.  You can then pick which report(s) you would like to request, and you will be able to review the information and print it for your records.  You may also request your credit report by phone or by mail.  Additional information can be found on AnnualCreditReport.com.

Be sure to access AnnualCreditReport.com by clicking on the link above, or type the address directly into your Internet browser to be certain you are on the right website.

First Mortgages Available at IECU

IECU is proud to bring our members the myCUmortgage program!  Members throughout the state of Illinois can apply for a mortgage from IECU.  Whether you are looking to buy a home or refinance an existing mortgage, we have affordable options to suit your needs.  The application process is easy:  contact an IECU Loan Officer and we’ll help you get started on the road to purchasing a home.  To speak with a Loan Officer or to schedule an appointment, please call (217) 528-2642.

Sign Up for Prewards and Get Instant Savings!

If you don’t already have an IECU Debit Card, here’s another great reason to get one!  Members can now sign up for the Prewards Program!  Prewards are digital coupons that give you instant savings from a variety of retail stores, restaurants, and other merchants, and you redeem them just by using your IECU Debit Card.  Here’s how it works:

  • Go to www.ileducatorscu.myprewards.com to sign up and register your IECU Debit Card.
  • Choose how you want to receive updates about available offers (text message and/or email).  Offers can also be viewed by logging on to the Online Dashboard.
  • Review the offers available to you.  Examples are $10 off a purchase of $50, or $5 off a purchase of $20.  The offers are designed by the merchants and are automatically applied to your Debit Card.
  • To redeem a merchant’s Preward offer, make a qualifying purchase and pay with your Debit Card.  The savings will be credited to your account and will appear on your IECU statement!

Prewards are a great way to save at places you already shop, so sign up today!  For additional information or questions, please contact IECU.

Shared Branches Available to IECU Members!

IECU is pleased to be part of the CO-OP Shared Branch Network, a nationwide network!  Shared branching allows our members to utilize the branches of other participating credit unions to conduct transactions on IECU accounts.  If you are unable to visit an IECU branch, you can instead locate a participating credit union to:

  • Make deposits and withdrawalsCOOP_SharedBranch-300x258
  • Make loan payments
  • Cash checks
  • Make transfers between accounts
  • Check your IECU account balances

The CO-OP Shared Branch network includes thousands of credit unions across the United States.  Shared branches provide a convenient, easy-to-access option for members who are traveling or those who do not live or work near an IECU branch.  When visiting a shared branch location, you will need to provide the name of your Credit Union, your IECU account number, and a valid photo ID.

Finding a shared branch location is easy!  Visit www.co-opsharedbranch.org, download the Shared Branch smartphone app, look for the Shared Branch logo, or call 800-919-2872.

Apply for Membership

Applying for membership is easy! Our field of membership now includes members of the Illinois Educators Association!

Call 1-800-697-7728 to get started or Apply Online today!