Free Shred Day!

If you are at all like me, it seems as though the “to be shredded” pile grows about as fast as anything you could compare it to.  Paid bills and old statements, credit card offers (if you haven’t opted out yet), all the miscellaneous paperwork that has confidential or secure information on it…it all adds up, usually quicker than you can keep up! 

Here’s where Idadiv comes in.  This Saturday, September 20th from 10 until Noon at our Nampa branch, we are hosting the Secure Your ID Day!  In conjunction with the Better Business Bureau, Cintas Shredding, KTSY Radio, and other local businesses, you may swing by with up to three boxes or bags of paper items that we will shred for you, on the spot.  No need to stand over your little personal shredder, feeding it sheet by sheet and waiting for it to cool off when it gets overheated.  Just drop by, we’ll even unload it for you! 

Besides getting all that personal information off your hands, we’ll also have great tips and resources to help you protect your identity, both online and off!  This is the first time that Canyon County has had such an event through the Better Business Bureau, so help us make it not only a success, but an annual event!

Help Us Help a Fellow Member

Our community has been rocked by devastating house fires in the last month.  Who would have dreamed that one neighborhood in little Boise, Idaho would lose so many of its homes to a fire.  It is something that you see on the news happening in other areas of our country, but almost feel an immunity to, if you know what I mean.  It’s something that is not supposed to happen here.  A house fire itself is something that is not supposed to happen at all.

Unfortunately, one Idadiv member has recently had their life turned upside down by a house fire.  No, it wasn’t part of the Oregon Trail fire, but nonetheless, she has lost most everything.  In an effort to help, Idadiv is having a benefit yard sale for this family on Saturday, September 13th at our Middleton branch.  Please take the time to stop by, see if there is anything you might need, or simply make a donation to help a fellow Idadiv member. 

The sale will start at 8:00 a.m.  We hope to see you there!

Another “Why CU’s are better” Article

Just a few minutes ago our VP of Lending came to me with another great resource comparing banks and credit unions. Although it is a little over a year old, the facts and figures remain true. Take a look…here’s the link to the MSN article http://articles.moneycentral.msn.com/Banking/BetterBanking/DitchYourBankForACreditUnion.aspx

Credit Union Checking Accounts get a Boost!

If you currently have your checking account here at Idadiv, you’re already well aware of the benefits we offer.  If you don’t have your account here, however, I urge you to read the following article.  Posted on the Wall Street Journal online site on August 28th, it gives some real insight into what makes a credit union different from the “big banks” and helps clear up that “backwoods” image that credit unions sometimes get.

For more information about Idadiv’s checking account program, visit www.idadiv.com or feel free to talk to one of our friendly staff members about the ins and outs of the program. 

I’m sure you’re thinking that of course I’m going to promote our product since I work here, but in all actuality, it is the only checking account I actually use.  I have accounts at several other institutions and chose to make Idadiv’s checking account my primary account.  Why?  Convenience, of course would be one of the first reasons, but it is followed closely by:

• the “live” debit card feature (where the debit card network actually knows exactly what is in my account-there’s no waiting for a file to be sent out after a deposit or transfer)
• the Co-op network of ATM’s (knowing that chances are no matter where I am in the U.S. there is a no-fee ATM close by)
• all the other little “perks” that come with having my payroll direct deposited (like bill pay, overdraft protection, etc.)

So, if you’re teetering on the edge of switching your checking account to another financial institution, be sure to check out the article below as well as Idadiv’s checking account program before you make your decision.   If you looked into Idadiv’s checking account in the past and felt it was missing something, be sure to take a second look, as we’ve added features and benefits to make it a complete package.  If there is still something missing, be sure to let us know…maybe it is something that we can fix or just haven’t’ thought of yet.

For Better Banking, Check Out a Credit Union
August 28, 2008 9:36 a.m.

For obvious reasons, many Americans are pretty unimpressed with the banking industry right now.

So maybe it’s a good time to look at an alternative – like moving your account to a local credit union instead.

These not-for-profit co-operatives have a kind of sleepy, backwater image. They’re often seen as the local libraries of banking. But that’s too bad. The chances are they didn’t pay their chief executive $10 million while writing off billions in subprime loans. And they can offer you some surprisingly good deals.

“Credit unions very often beat their banking counterparts in terms of offering lower rates on loans and higher rates on deposits,” says Greg McBride, economist for Bankrate.com. “For a consumer who’s shopping around for the best deal, that has to include looking at credit unions.”

Nearly 90 million Americans already do some banking at a credit union and that figure rose by more than one million last year, according to the industry trade body, the Credit Union National Association. Total deposits are about $800 billion. Credit unions have been around for nearly 100 years – the first one was launched in Manchester, N.H., in 1909 – and there are now 8,500 of them around America. They traditionally grew up around a particular community or the employees of a big company, and their membership is limited to a defined group. As non profits, they are exempt from taxes.

In normal times, credit unions boasted that they could offer a better deal than banks because they didn’t have to make profits for outside shareholders.

Of course, these days the same goes for a lot of traditional banks as well. Instead, the new “no longer in profit” (NLIP) sector is losing billions. Big banks are currently passing the hat around Wall Street, Washington, Singapore and Dubai looking for help.

So instead many credit unions can boast that they don’t have to pay for billions in losses on subprime mortgages and other bad loans. As an added bonus, few of them waste money on expensive marketing and advertising campaigns, takeovers, huge executive bonuses, and the kind of costly “growth” initiatives that CEOs chase to give their stock options on Wall Street the needed juice.

Being stuck in the past has its benefits. You could take this for some kind of metaphor for our finance industry. Once upon a time, Washington Mutual was a “not for profit.” In the past year it’s lost $6.1 billion after tax.

So if you are looking at moving to a credit union, what do you need to know?

Go to creditunion.coop, the Web site run by the trade organization, to find credit unions near you.

Look for credit unions you are allowed to join. Each one is restricted to offering membership to a predetermined group, like employees of a company, members of an organization, or those who work, live or worship within a neighborhood, county, or area.

If you are concerned about safety, pick a credit union where deposits are insured by the federal government through the National Credit Union Administration (NCUA). About 98% are. Look for an NCUA blue sticker on the window – or just ask. The NCUA works for credit unions the way the FDIC works for banks. It guarantees deposits up to $100,000, and there are higher limits for some joint and retirement accounts.

Before signing up, also look at the range of services on offer as well as the number of branches. Credit unions tend of offer far fewer of both than banks. (That may not be a bad thing. I happen to notice that the credit union in my area with the fewest branches, products, services and exciting innovations also seems to offer by far the best deal on straightforward checking and saving. There’s a much bigger credit union near me that seems to behave like a bank – it even advertises like a bank – and yes, it seems to charge fees like a bank too.)

If you need credit and debit card, make sure it offers them. If you need ATM access on the road, make sure your credit union is a member of the Coop Network. Other members won’t hit you with a surcharge if you use their ATMs.

And be willing to cherry pick. You can take advantage of your local credit union’s great CD rates while leaving your checking account at Greedy Bank, Inc.