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News & AnnouncementsBefore you pay for a debt negotiaor...
Unfortunately for our members, many of these companies are “predators” and rarely deliver anything more than a financial disaster for their clients. We encourage members who are faced with financial circumstances beyond their control, to speak with our Certified Financial Counselors before paying any money to these “debt negotiation” companies. Ledge Light’s Certified Financial Counselors are well prepared to handle these types of situations and act accordingly to discuss alternative payment plans.
Ledge Light has products and services to assist members during these difficult times. Ledge Light FCU S.C.O.R.E. Credit Rebuilding ProgramTM is just one of several services that has helped many members overcome debt and take back control of their financial lives.
Call 877.860.MYCU x1937 or x1908 and speak with a Ledge Light Certified Financial Counselor. Five Reasons To Switch To A Credit Union Credit Card! Five Reasons To Switch To A Credit Union Credit Card! Money Builder Since the second part of a federal bill known as the CARD Act went into effect on Monday, credit cards have become a lot friendlier to consumers. Credit card companies are now prohibited from a long list of dirty business practices ranging from switching the date that a customer's bill is due to retroactively raising interest rates. (For more, check out "Credit Card Law Changes: What You Need to Know.") But because so many of the outlawed practices were also huge revenue generators for the companies issuing cards, financial institutions have responded by preemptively raising interest rates across the board and introducing new fees. Follow MoneyBuilder on Twitter If you feel like your credit card company is trying to bleed you with new fees, there is a better way: opt for a credit card issued by a credit union. These nonprofit financial institutions are owned by members, who typically share some sort of affiliation like working at the same university or being a member of a teacher's union. While credit unions issue the same Visa and MasterCards as for-profit institutions like Here are five reasons to switch to a credit card issued by a federal credit union. Interest rate caps. Federal law prohibits federal credit unions from charging interest rates higher than 18%. For-profit credit card companies, however, have no restrictions on the interest rate that they can levy on account holders. The average interest rate for cards issued by for-profit institutions is currently 16.7%, according to Credit Card Monitor, though many customers with less than perfect credit pay rates above 20%. If you habitually carry a balance, having a fixed limit on the amount of interest you could be charged could save you thousands of dollars a year. Lower interest rates. The interest charges on credit union issued cards were 20% lower than the same cards issued by banks, according to a study released in October by the Pew Foundation, a nonprofit public interest group. In a survey of 400 cards, the study found that the best advertised rate for credit union cards was 9.9%, while the lowest advertised bank rate was 12.2%. The highest advertised rate for a credit union card was 13.7%, which again was lower than a bank's 17.9%. Lower fees. The same Pew study found that credit unions levied lower fees and other penalties for their credit card customers than banks. The average credit union customer pays $20 for paying his bill late or going over his credit limit; at banks, the average penalty was $39. Banks also charged as high as 21% for a cash advance, compared with a high of 13.7% rate charged by credit unions. Credit unions are member-owned. Every credit union is owned by its members. That means that these institutions do not have the same pressures of Wall Street banks to maximize revenue in order to please investors. Instead, profits on credit cards and other loans go back to credit union members in the form of lower mortgage rates and better savings account rates. Increased service. Seventy percent of credit union members thought that their financial institution put customers' financial interests above of their own, according to a recent survey published by The National Association of Federal Credit Unions operates a Web site, culookup.com, that can help you find a local credit union. Each credit union has its own membership requirements. Some are broad, like the DVA Credit Union, which is open to anyone who lives, works, worships or attends a school in Washington, D.C. Others, such as the Ukrainian National Federal Credit Union, are restricted to members of a religious organization. See the online version here. Attention High School Seniors! Download the application here! Ledge Light Federal Credit Union will award four (2) graduating high school seniors with up to $500.00 to use for an accredited two-year or four-year college college. Eligible Applicants Must:
All Applicants Must Submit:
Selection Process: All entries become the sole property of Ledge Light Federal Credit Union. The judging will be done by a scholarship committee comprised of a Manager and/or volunteer of Ledge Light Federal Credit Union and all decisions are final. Amount of Scholarship: Up to two (2) $500 scholarship and will be awarded. Winners will be annouced at the 2010 Ledge Light Federal Credit Union Annual meeting at the Groton Inn & Suites Thursday, May 20, 2010, 5:00 pm. Essay: On a separate piece of paper, please complete an essay on one of the following topics:
Deadline: Wednesday, April 30, 2010 The scholarship package must be postmarked by April 30, 2010. ATTN: Scholarship Committee
Not sure you qualify for membership? Click here to find out your census tract! Banks vs. Credit Unions Credit Unions Better Than Banks for You? - CBSNews
Vera Gibbons went through all you need to know if you're looking to make the switch.
Go Paperless!
Simplify your life by eliminating the wait for paper statements! No more filing or mailing in payments, just a friendly email when your statement is ready. It’s that simple. Enroll in Credit Card Electronic Statements today and start enjoying the benefits of a simple life:
Step toward a greener lifestyle Join the millions of others who have gone paperless to protect the environment. Email is faster than U.S. Mail We alert you monthly when your most recent statement is online and ready to view. Paper statements can end up in your mailbox...or in the wrong hands Going paperless can help protect you from fraud and identity theft. Online statements deliver convenience Check your account balance or your credit card statement whenever or wherever you wish. Need to look up past expenses? Simply log in to your account. Up to twelve months of complete online statements are just a few clicks away.
Best of all, your account information will no longer be exposed at the mail box! Call us 877-860-MYCU or visit us online to enroll today! Our branch network has grown! Did you know you can access your Ledge Light Federal Credit Union account at more than 3,800 branch locations around the nation? We know how important it is for you to be able to take care of your financial business when you are on the go, even if one of our own service centers isn’t nearby. That’s why Ledge Light Federal Credit Union has joined “shared branching”. Through our partnership with other credit unions, you can conduct transactions in participant’s branches just as if you were in a Ledge Light Federal Credit Union service center. A variety of services are available:
THERE IS NO CHARGE FOR YOU TO USE THIS SERVICE. All participating credit unions display the Credit Union Service Centers logo seen below. You can find a nearby branch several ways:
When you visit a Credit Union Service Center, just make sure to bring your member number and photo identification. Pay your credit card bills online! Get 24 hour access to your credit card account by logging into InfoLink Plus and pay off your bills, view statements and transactions! LLFCU Annual Meeting! It's Ledge Light's 2009 Annual Meeting! Mark your calendars for this event! When: Thursday, May 20, 2010 Where: Groton Inn & Suites Time: 5:00 pm-Registration R.S.V.P. by May 14th, 2010 by calling 860-441-0935. You can also stop by any one of our Service Centers and sign up. LLFCU Offers Free Tax Preparation! Ledge Light Federal Credit Union partners with TVCCA to offer FREE tax preparation through the IRS VITA program. VITA (Volunteer Income Tax Assistance) offers the following: free tax help to low-to moderate-income (generally, $50,000 and below) people who need assistance preparing their tax returns, fast electronic e-filed returns and IRS trained and certified volunteer tax preparers. The program is available Monday evenings at Ledge Light Federal Credit Union’s main office, 60 Colver Ave, Groton, CT from February 1, 2009 thru April 12th from 5:30 pm – 8:30 pm. No service on President's Day. It is not necessary to be a credit union member and there is no appointment needed. For more information on what documents to bring call 877-860-MYCU x1932 . For directions to 60 Colver Ave click here.Get the biggest refund you deserve with TurboTax® Online(SM).
Get the biggest refund you deserve with TurboTax® Online(SM).
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