11 Sep

How a Personal Loan Can Work for You!

personal loan

At RMLEFCU, we take pride in offering our members various products and services that they not only want and need but will help make their lives a bit easier. That being said, one of the most versatile and popular loans that we offer is our personal loan. It is easy to obtain and can be used for a variety of different things. Need some inspiration? Here are a few great ways an RMLEFCU personal loan can be used!

Job Equipment

We know getting new job equipment can take a toll on your wallet. That’s why we recommend using the personal loan as an equipment loan to cover costs of gear and work expenses. The competitive rates and variety of repayment terms available make it an easy way to fund up-front expenses, worry free!

Home Improvement Projects

Home improvement projects can be a costly up-front expense. Using a personal loan to cover all or some of the costs of home improvements or renovations can lessen the initial blow to your bank account and gives you the flexibility for lower monthly payments. Now doesn’t that new kitchen sound more realistic?

Higher Education

At RMLEFCU, we want you to follow your dreams and want to help get you there however we can! Our personal loan is the perfect way to fund the steep costs of higher education and pay them off slowly and on your terms. Loan amounts are available up to $10,000 and you have the flexibility to decide which repayment term is best for you.

& Many More

The RMLEFCU personal loan knows no limits! Whether an unexpected event occurred, or your personal project needs funding, we’re here to help. We offer competitive rates and attentive friendly service from start to finish. Contact a loan specialist at (303) 458-6660 or apply directly online!

06 Sep

2018 Biscuit Bus Challenge: Law Enforcement Supporting Non-Profits

2018 Biscuit Bus Challenge

The most anticipated RMLEFCU promotion of the year is back!

This year, RMLEFCU is giving the Biscuit Bus to a department/district who gives back to the non-profit community.

Have one in mind? Tell us about it!

Here’s how it works. By September 30th, either:

Go to the RMLEFCU Facebook post and tell us which department/district you nominate and what non-profit they support in the comments.

OR

Make your own post on Facebook, Twitter or Instagram and tag @RMLEFCU with your nomination. Be sure to use the hashtag #2018BiscuitBusChallenge on all posts!

Your insight could earn the department or district a visit from the Biscuit Bus and the non-profit a donation, courtesy of RMLEFCU! Happy nominating!

 

 

*This contest is only valid for Colorado law enforcement departments whose employees are eligible for RMLEFCU membership. This promotion is in no way sponsored, endorsed or administered by, or associated with, Instagram or Facebook. RMLEFCU has the right to refuse entries. Contest rules and prizes are subject to change without notice. If your department location is not in range of the Biscuit Bus or Fat Sully’s, an alternative meal option will be issued.

04 Sep

Why Share Kasasa?

kasasa share

The better question is why not! You not only have the opportunity to share a great service with friends and family but earn a $150 Amazon gift card for you both! Our Kasasa Checking accounts offer great benefits and features that are practically unmatched by the competition. Want to learn more? Read on!

No ATM Fees

Yes, you heard us! No ATM fees! As a matter of fact, there are no fees at all. All Kasasa accounts are free to open and maintain. We believe our members should be rewarded with great checking accounts, not pay to have them!

Cash Back

Earn up to 3% back on debit card purchases when you open a Kasasa Cash Back checking account! There are no category restrictions and no minimum balance needed to earn rewards. Simply swipe your Kasasa debit card whenever you make a purchase and earn cash back on up to $300 in monthly purchases. It’s almost like we’ll pay you to use a Kasasa account!

High Dividends

Who says you can’t earn dividends on a checking account? Not us! When you open a Free Kasasa Cash checking account, you can earn up to 3.00% APY* on balances. Isn’t it time your money started working for you?

Refer Your Friends. Get Rewarded.

At RMELFCU, we want you to share your good fortune with others, starting with your family and friends! When you share your personalized link with someone and they open their own Kasasa account with us, you’ll both receive $150 Amazon gift cards! So, what are you waiting for? Start sharing today!

 

 

*APY=Annual Percentage Yield. APYs accurate as of 05/31/2016. Rates may change after account is opened. Minimum to open is $50. If qualifications are met each monthly qualification cycle: (1) Domestic ATM fees incurred during qualification cycle will be reimbursed up to $25 and credited to account on the last day of monthly statement cycle; (2) balances up to $10,000 receive APY of 3.00%; and (3) balances over $10,000 earn 0.50% dividend rate on portion of balance over $10,000, resulting in 3.00% – 0.73% APY depending on the balance. If qualifications are not met, all balances earn 0.05% APY. Qualifying transactions must post to and settle account during monthly qualification cycle. Transactions may take one or more banking days from the date transaction was made to post to and settle an account. ATM-processed transactions do not count towards qualifying debit card transactions. “Monthly Qualification Cycle” means a period beginning one day prior to the first day of the current statement cycle through one day prior to the close of the current statement cycle. Transfers between accounts do not count as qualifying transactions. PIN based transactions do not count towards qualifying debit card transactions. Limit one account per SSN. ATM receipt must be presented for reimbursement of an individual ATM fee of $5.00 or higher.

17 Aug

Mortgage Tips for First-Time Homebuyers

first-time mortgage loan

If you’re reading this, you’re probably in the market for a new home and need a little mortgage guidance. Well lucky for you, we’ve got some great advice to make your first (or next) home-buying experience as simple as possible with some mortgage tips!

Prepare, Prepare, Prepare

Making the decision to buy a home is a big one and being fully prepared is crucial to the entire process going smoothly. If you’ve already done all of your research and know exactly what you want, be sure you have all the proper documentation ready and accessible when applying for a mortgage. You can find a complete list of all required documentation here. It is always a good idea to get pre-approved for a mortgage before you start shopping because it not only lets the seller know that you’re a serious buyer but also tells you what you can afford. Which bring us to our next point.

How Much Can You Afford?

You may think you can afford more house than you actually can. It’s important to factor in every detail from a down payment to interest when determining your budget for a home. Much like a credit card, mortgages can have high limits that can be tempting to max out but be careful. Just because you qualify for a high mortgage amount doesn’t mean you have to use that much. Be sure to carefully plan out your budget and determine what you can afford before committing to anything.

How is Your Credit?

A big factor in determining your mortgage interest rate is your credit score. If your credit score is lower, you will end up paying much more in interest over the life of the mortgage than someone with a higher credit score. It may be advantageous to work on building up your credit score before applying for a mortgage loan in order to save money in the long run.

Shop Around

A common mistake made by first-time homebuyers is to take the first mortgage they are offered. Be sure you shop around and get multiple quotes from various lenders before deciding and remember that even a small difference in interest rate can make a big financial difference over the life of a mortgage loan. As always, the best place to start is your credit union because we offer low, competitive mortgage rates exclusively for our members.

09 Aug

August Kasasa Share Contest

kasasa share

If you don’t know about Kasasa Share you could be missing out on earning some serious cash and prizes! But don’t worry. With this month’s contest, we’re giving you the opportunity to make up for it with the chance to earn $500 cash on top of the normal prize of $150 Amazon gift cards for you AND your referral.

Wait. Did we just say $500 cash AND $150 Amazon giftcards?

We sure did!

Get to sharing Kasasa with everyone you know, and that dough could be yours. Here’s how to participate.

kasasa Share

For the month of August, when a Kasasa account holder refers an eligible potential member* using Kasasa Share they will be entered to win a $500 cash prize!

Win the cash by sending the most referral requests to eligible potential members using your personalized Kasasa Share link. The more referrals that receive and open your referral email, the higher your chances of winning are!

Not a Kasasa account holder? No problem! Simply refer eligible potential members to RMLEFCU and when they open any checking or savings account and mention your name, you’ll be entered to win! But if you want a much higher chance of winning, we suggest opening a Free Kasasa Cash or Kasasa Cash Back checking account and sharing your Kasasa link. Not only will you up your chances of referrals signing up, but you’ll get all the benefits of having a Kasasa account! Which, in our humble opinion, is all the reason you need.

Good Luck & Happy Referring!

 

* Eligibility is open to current or retired employees of the below listed law enforcement organizations in the state of Colorado as well as family of our current members.

Federal Police Services
Highway Patrols
Government Marshals Offices
Sheriffs and Constables Offices
Emergency Dispatch Departments
State Police
Park Police
Correctional Facilities
Transportation Security Agencies
Division of Gaming Security Officer/Guard (has completed POST)
Government Criminal Investigation Offices Police Departments
Drug Enforcement Agencies
The FBI

20 Jul

HELOC vs. Home Equity Loan: Which is Better for You?

HELOC vs. Home Equity Loan

Many people think Home Equity Lines of Credit (HELOCs) and Home Equity Loans are the same thing because they sound alike. In reality, they have some similarities but are very different regarding how and when you access the funds. In this post we’ll discuss the differences between the two and describe a few reasons to use each.

HELOC vs. Home Equity Loan

So, what is the difference between a HELOC and home equity loan? While they both borrow against your home’s equity, they go about it a bit differently. A HELOC allows you to draw on your home’s equity on an as-needed basis with a variable interest rate acting like a credit card that uses your home as collateral. A home equity loan on the other hand, gives you a lump sum up front with a fixed interest rate. They both use your home’s equity as collateral backing which is why they are usually referred to as “second mortgages”.

Why a HELOC?

A HELOC tends to be a better option for those who need extra money over a long period of time. For example, if your kid is going to college and you need to pay tuition over the next 4 years, a line of credit is ideal. You simply borrow the amount you need when you need it and only pay off the amount you’ve used. Check out a few more reasons to use a HELOC.

Why a Home Equity Loan?

A home equity loan is a better option for those who need a set amount of money up front. For example, if you need a new roof that will cost $3,000 and you’re planning a family vacation that will cost about $5,000. An $8,000 home equity loan is ideal for this situation because you know exactly how much you need to borrow.

Different situations call for different types of home loans. Determine if you need a larger sum of money now or have a longer-term financial commitment that will require spread out payments. Have more questions? Stop by an RMLEFCU branch or call to speak to a loan specialist today! You can also check out these helpful videos to learn more.

RMLEFCU HELOC vs Home Equity Loan

A Home Equity Line of Credit (HELOC) Explained by RMLEFCU