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About 200,000 people a month are opting out of
credit card solicitations by using the toll-free number of the National
Opt-Out Center, says American Banker (June 12, 2001). The center's hot line
was established two years ago by three key credit reporting bureaus-Experian
Inc., Equifax Inc., and Trans Union LLC-which were joined later by a fourth
bureau, Innovis Inc. A 1997 amendment to the Fair Credit Reporting Act
required the hot line so consumers could remove their names from lists by
calling 1-88-50PT-OUT (1-888-567-8688).
Names can be deleted for two years or forever. Those opting for the
latter will receive a notice of election, which they must sign and return.
They can opt back in any time. Callers can leave their name, address, phone
number, and Social Security number. They can also remove family members'
names. Opting out won't eliminate all junk mail, since many other companies
have databases. The Direct Marketing Association already has a mail
preference service where consumers can register on an association-wide
"delete file" companies can update four times a year. Registration is good
for five years. Those who register online are charged $5.
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Anyone who is a member of Carolina Collegiate Federal Credit Union can apply for a loan. There is no waiting period for submitting a loan application.
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- Debt to Income Ratio: The loan officer will look at your ability to repay the loan by using your debt to income ratio. This ratio is found by comparing the debts you owe to the amount of money you earn. This helps the loan officer determine if you can afford to make the payment.
- Credit Report: A credit report is obtained from a credit bureau to show your past record of repayment. To protect the interests of all members in the credit union, we want to ensure the loan will be repaid.
- Work Record: When applying for a loan, you should bring a copy of your paycheck for income verification.
- Past Experience with the Credit Union: If you have had previous credit union loans, loan officers will examine your repayment record.
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Loan applications are usually processed the day we receive the application.
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There are three ways to make payments on your loan:
- Deliver Payment: Stop by one of our offices to make your payment.
- Mail Payment: Simply mail your check or money order to the credit union with the loan coupons provided for you. Night deposit boxes are also available.
- Payroll Deduction: You can use payroll deduction to make your monthly loan payments. Money will be deducted from your check each pay period and deposited in your savings account. On the 15th and the last day of the month, your loan payment will be deducted from your savings account.
Using payroll deduction does not guarantee a loan will be approved.
- Automatic Services: You can use Private Teller, Night Watch, or Payment Link to make your payment.
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Yes and can be prepaid at any time.
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Our credit life and credit disability insurance helps you weather your financial storms by paying off your loan if you die or making the monthly payments on your loan if you become disabled.
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- An estimated 80% of the nation's work force does not have individual disability income insurance.
- Employer-sponsored disability plans typically replace 60%-70% or less of income.
- Approximately 40% of consumers have no life insurance at all!
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- More value.
- Coverage begins right away for qualified borrowers.
- Benefits are payable in addition to other coverage.
- You pay for only the amount of coverage you need to cover your loan balance.
- Benefit payout ratio is nearly 50% higher than the industry average.
- Easy to purchase.
- Enrollment is a convenient part of the loan process.
- No medical exam is required.
- No long application forms to fill out.
- Reasonably priced.
- Coverage costs just pennies a day.
- Rate doesn't vary by age, gender, or health habits.
- Same rate is charged to all members in your credit union.
- Group policies allow your credit union to offer even lower rates.
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Credit Life and credit disability insurance are appropriate for everyone who wants to make sure their families aren't saddled with extra financial burdens if they die or become disabled. These payment protection coverages provide a valuable safety net if you are uninsured or underinsured. Ask yourself:
- Could I make ends meet if I lost 40% of my income? Remember, most employer disability packages only provide up to 60%-70% of regular salary.
- Do I qualify to purchase individual life insurance? Would I prefer to avoid the hassle and paperwork? Signing up for payment protection is part of the loan process and, if you qualify, covers you the moment the loan is issued.
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Yes -- accidents happen to healthy people too! And disabilities are not always accident related -- even healthy people get sick.
- 40% of today's baby boomers are likely to face a disability lasting three months or longer before age 65 (source: Disability Income).
- In today's stressful world, the leading cause of disability involves mental and nervous disorders -- more so than heart disease, high blood pressure, back pain and injuries from falls.
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Yes, with good reason:
- easier to qualify -- no physical requirements to meet
- no waiting period before coverage starts
- policies are written for the amount of the loan only
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Net coverage is best. Net credit life coverage insures only the loan balance. Gross coverage covers the loan principal and interest, resulting in higher premiums. CUNA Mutual's credit union payment protection is on a net basis -- most other providers offer the more expensive gross coverage.
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Credit unions exist to serve their members. They are owned and democratically controlled by members. It's a unique philosophy! Banks and other providers focus on the bottom line, charging consumers as much as the market will bear.... typically charging the highest allowable premium rate.
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Almost everyone! There are no medical exams required if you elect the insurance at the time you take out your loan. You must not be older than the maximum eligible age when you take out your loan. To qualify for credit disability coverage, you must be actively at work and regularly performing all the usual duties of a full-time, gainful occupation.
(Eligibility, exclusions, benefits and termination provisions may vary according to your credit union's master contract, which is controlling in all instances. Be sure to consult a loan officer at your credit union for complete details.)
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You simply enroll during the loan process.... what could be easier?
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Probably, because you didn't know it was available.
Imagine, getting the value of a used car, with new-car peace of mind.
The Credit Union can set you up with a low cost extended warranty on your used car. And it can be financed with your monthly loan payment. Warranties are available from 12 months to 72 months.
Benefits and Features of Extended Warranty
- Your wallet is protected when your car breaks down.
- Four levels of coverage available, from the Bronze package, which warranties power train, suspension and brakes, all the way to the Platinum package which warranties nearly every system on your vehicle.
- Pays for parts and labor.
- Repairs completed at your choice of any licensed repair facility in the USA and Canada. (85% of claims are handled at a dealership.)
- Pays for towing up to $50.
- Pays for a rental car up to $25/day for up to 5 days.
- Toll-free claims number from 8:00 am to 8:00 pm EST.
- Hassle free. The repairer is paid directly by the plan.
- Transferable if you sell your car.
- Cancelable at any time.
- Nationwide service agreements with Firestone, AAMCO, and Pep Boys.
- 90-day money back guarantee. After 90 days pro-rated less $30 fee
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If the loan at our credit union is paid off by an dealership, other
financial institution, or insurance company, the loan document is marked
paid and the title is forwarded to the appropriate address within the week.
If the loan is paid off by an individual, the title is forwarded to the
member in 10 business days.
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Our Credit Union's loan officers can aid you in this process. A buyer should
always negotiate the price for the new auto before talking about a trade in.
Then negotiate the price credit given for the trade in. Research the price
of the auto you purchase and trade in before you agree on a price with the
dealership. Use our Auto Buying Guides to
help with pricing decisions. If a loan is owed on the trade in, call to
confirm the payoff amount of that loan. That loan balance is added to your
new auto loan. The total of the new loan should not be more than the
value/selling price of the new auto.
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The seller and buyer need to complete a bill of sale approved by the Highway
Department and complete the reverse side of the title (if the auto does not
have a loan on it). When making a loan on an auto purchased from an
individual, a loan officer has to see the auto to verify condition and
vehicle ID numbers. Normally the dealership is responsible for the vehicle
condition and ID. Our Loan Officers can help with this process. Use our
Auto Buying Guides to help with pricing
decisions. If the seller has a loan on the auto, a check will be mailed to
the loan company. That company will forward the title to new owner if there
is no new loan on the auto. If there is a new loan on the auto, the loan
company will forward the title to the new loan company.
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Yes, you may continue your membership with the Credit Union for as long as you wish, even if you leave the qualifying organization. "Once a member, always a member" is in full effect at Carolina Collegiate Federal Credit Union.
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Your credit union will mail 1099 and 1098 forms to members by January 31 of each year. The minimum dividend reported to the IRS is $10.00. If your accounts did not earn a minimum of $10 reportable dividend income, a 1099 form will not be mailed to members or the IRS. The 1098 form is generated for those individuals with mortgage interest. Your yearend figures can be found on your December 31 account statement.
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Your routing and account numbers can be found on the bottom of your checks. The routing number is 253978824. Your checking account number is the set of numbers after the colon and before the quotes mark. The checking account number always starts 453009______. If the direct deposit is going into a savings account, please enter your member account number.
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For security reasons, our staff has no knowledge of the actual pin used for accessing accounts. Please contact a card services representative at 803-227-5555 or 800-476-5861 extension 219 or 240 and a pin reminder will be mailed to your address on record within 7 to 10 business days.
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If your checkbook is lost or stolen, there are two different ways to handle this situation. The first way is to place a stop payment order on the checks lost or stolen. There is a $10 fee for placing a stop payment on a whole range of check numbers. The check numbers of the lost or stolen checks is needed to place a stop payment order on those items.
The second way to handle lost or stolen checks is to close the account that the lost or stolen checks are drawn on. A new account would be opened and certain automatic drafts and deposits would need to be changed to the new account.
A police report should be completed for these lost or stolen checks. If someone other than an authorized account user writes any of the lost or stolen checks, those checks would be returned to the merchant or individual that accepted the checks. That merchant or individual would contact you for payment. At that time, you would complete an Affidavit of Forgery. The merchant or individual may need a copy of the police report and the Affidavit of Forgery.
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ATM, Debit, and Credit cards are all handled differently.
- ATM and Debit cards - For lost cards and general information, call 803-227-5555 or 800-476-5861 extension 219 or 240.
If the staff member is unavailable at the time of your call, leave a message on the voice mail.
For after hours, call (800) 554-8969 for immediate service. If using the after hours notification service, you will also need to contact our office at 803-227-5555 or 1-800-476-5861
extension 219 or 240 in order to receive a new card.
Upon receipt of a new ATM / VISA Debit Card Application, a new card and pin (Personal Identification Number) will be ordered. It will take about 7 to 10 business days to receive the card and pin.
Please review your account to help monitor any unauthorized transactions. If unauthorized transactions have been charged to your account, please
complete an ATM / Debit Dispute Form and a Fraudulent Use of a Credit or Debit Card Form(Must be notarized).
Please forward these completed forms to the credit union by mail or in person. Your account will be credited for the unauthorized amount.
- Credit cards - For lost or stolen cards, call (800) 449-7728. Please review your account to help monitor any unauthorized transactions. Notify Card Services at (800) 449-7728 immediately. If unauthorized transactions have been charged to your account, the appropriate forms will be mailed directly to you. A new card and pin (personal identification number) will be ordered and will arrive in about 7 to 10 business days. For General Information call (800) 654-7728, 803-227-5555, or 1-800-476-5861.
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Click here for Wire Transfer Informaiton.
When a check is not a check? - A consumer guide to electronic check conversion.
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