29 Jun

2017 Biscuit Bus Challenge: Show Your Patriotism

Biscuit Bus Challenge

Once again, RMLEFCU is giving a lucky local Colorado Law Enforcement department a visit from the Biscuit Bus. Could it be yours?

Here’s how it works:

  • Take a photo of your department showing its patriotism
  • Tag @RMLEFCU in a photo you post on Facebook or Instagram, or post it on the RMLEFCU Facebook page
  • Collect the most likes by 3pm on July 19th
  • Eat delicious biscuits. Nom nom nom…

The department represented by the patriotic photo with the most likes on July 19th at 3pm will win a complimentary visit from the Biscuit Bus! We will also randomly select two other departments to receive a visit by Fat Sully’s Pizza truck as runner-ups.

Show your patriotism and we’ll show you the biscuits! #2017BiscuitBusChallenge

*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.

See on Facebook Now

27 Jun

Giving a Child a Credit Card: Why It’s Not as Crazy an Idea as It Sounds

Giving a Child a Credit Card

Do you remember when it first started to really sink in that you were going to have to repay all of those purchases you racked up on your credit card, plus interest? Many of us learn this lesson in early adulthood when we first become financially independent, but there is a way to help your children to this epiphany before it has to happen the hard way. By giving a child a credit card at an age as young as 12, you can keep the training wheels on while still helping them build credit and learn valuable financial lessons.

Builds Accountability

Skills like budgeting and money management come with practice, so why not start early?

Giving a cash allowance to a child is one step in building accountability, but giving them the capability to make credit purchases will take that budgeting training to the next level. Learning about delayed consequences for your spending decisions is something many adults have not even mastered yet. Start instilling the idea that choices you make today will always have consequences tomorrow while your children are still young.

Learn About How and When to Use Credit Cards

There is no harm in responsible use of credit cards. Using credit cards regularly will help lenders see that you are reliable to pay off debts, and when you are confident that you can afford to repay what you have borrowed, credit cards can be used to earn reward points and budget large purchases.

Giving a child practice making decisions of when to use credit versus cash will give them valuable financial practice for their adult life, and hopefully, avoid later falling into debt.

Online shopping is still growing and credit cards tend to be safer than debit for online purchases. By giving your child their own, they can make online purchases with their own money and not need to borrow a parent’s credit card.

Establish Credit Early

Many people begin building credit once they are adults. By allowing a child as young as 12 to have a credit card in their name, you can help them to build valuable credit gradually and be better prepared for larger purchases as young adults such as college loans, vehicles, and eventually their first home.

Parents Are Still in Control

With credit cards for children under 18, a parent or guardian can still be the responsible party and can track their child’s spending. These cards tend to have low, manageable limits and can be linked to a debt account for easy payments. You can kill two birds with one stone by giving a child a credit card; learn how to responsibly use a credit card while establishing a credit history.

Giving a Child a Credit Card

Open a credit card for your child in their name to help them learn valuable financial lessons early on in life. You will still retain control and the ability to track their spending, but with them being the primary holder, you can more closely give them the accountability a credit card of their own will one day require.

19 Jun

Paying for College Without Going Broke

Paying for College Without Going Broke

One of the first thoughts after being accepted to college is usually, “Now how do I pay for this?!” The current costs of tuition are staggering, but there are several options for paying for college without going broke. It is worth the research and effort to explore all options, in particular assistance that does not need to be repaid like grants and scholarships.

Paying for Tuition

Financial Aid

The first step in beginning your quest for financial aid should be to fill out your FAFSA at https://fafsa.ed.gov/. Filling out this document will tell you what government aid you qualify for, including grants, loans, and other programs like work-study.

It is a good idea to always accept all grants first, and then figure out what additional funding you may need after that amount is deducted from your tuition. Grants do not need to be re-paid if you graduate, but beware, dropping out of school can mean you have to repay the full amount you accepted.

Scholarships

The next best form of funding for college expenses after grants are scholarships. Scholarships do not need to be re-paid (under most types) and can be awarded for a variety of reasons. There are scholarships for all sorts of interests and activities. Some are based on merit, some are based on sports performance, and some are based on where you live.

The William Threlkeld Scholarship

RMLEFCU members that are in high school or college are eligible to apply for the William Threlkeld Scholarship. Four deserving members/students will be awarded the scholarship based on academic performance (a 3.0 GPA or higher), community involvement, and the potential to succeed at the college level. 2017 applications are due by July 31, to apply, fill out this application and mail to:

Rocky Mountain Law Enforcement Federal Credit Union
attn: Threlkeld Scholarship
10025 Park Meadow Drive
Lone Tree, CO 80135

Loans

Loans for college expenses come in two forms: government and private; both of which must be paid back plus interest. Through your FAFSA you will find out if you qualify for any government loans. Subsidized government loans are better than unsubsidized or private loans because you will not accrue interest while in school.

If after receiving grants, scholarships, and subsidized loans you still need cash for school, your next step is to decide between an unsubsidized government loan or a private loan. Choose whichever has a lower interest rate (hint: this won’t always be the government loan!). Another option is to use your parent’s home as collateral for a low interest loan. This could be in the form of a home equity loan or home equity line of credit.

Personal Expenses

As far as personal expenses while you are a student, some grants or scholarships allow for personal expenses. Only use these though if you have all school expenses (like tuition and books) covered first.

The ideal way to pay for personal expenses while in school is with a part time job or work study program. You want to minimize student debt as much as possible, so going into more debt for living expenses can put you into a bad cycle of increasing your debt each year.

College costs are intimidating for every student, but there are a large number of ways to pay for these expenses without graduating completely broke. Research your options, apply for every scholarship under the sun, and only accrue debt when necessary.

09 Jun

Conveniences of RMLEFCU

Conveniences of RMLEFCU

At Rocky Mountain Law Enforcement Federal Credit Union, members not only get to enjoy low rates and great service, but we strive to be on the cutting edge of banking technology. Take advantage of our many conveniences such as mobile and online banking, shared branching, courtesy pay, mobile check deposit, and more!

Online Banking

With RMLEFCU, your bank account is never more than a click away. Online banking is free, secure, and easy-to-use. Anywhere with internet access you can log on to your account to:

  • Access eStatements
  • View transaction history
  • Check account balances
  • Complete funds transfers
  • And more!

Another great convenience made possible by online banking is online bill pay. With your RMLEFCU checking account, set up one time or recurring bill payments to any person or business in the country.* This service is available 24/7 and will send email alerts directly to your inbox. No need to keep mailing the same check each month, set up bill pay and let your bills pay themselves!

Mobile Banking

With mobile banking, all your main transactions just got even easier to reach; in the palm of your hand! RMLEFCU mobile banking is fast, free, and secure for every member enrolled in online banking. With the mobile app (available for iPhone or Android) you can:

  • View account balances
  • Review history
  • Deposit checks
  • Transfer funds between accounts
  • Pay bills
  • Make loan payments

Don’t ever get to the checkout line, watch the total start to rapidly climb, and stress if you have enough in checking to complete the transaction. With mobile banking, you can quickly transfer the needed funds before the moment of truth – potential embarrassment avoided!

Shared Branching

Myth: Local Credit Unions are inconvenient because if you ever travel, you are out of luck if you need to visit a branch.

Myth busted! Rocky Mountain Law Enforcement FCU has 5,000+ shared branching locations in the United States.

RMLEFCU has joined with other credit unions around the world in a cooperative effort to bring you a new level of financial convenience. Through the CU Service Centers Network you can perform many of your financial transactions and obtain services even when you’re far away from your home branch!

As of February 2011, there are currently 190 credit unions in the State of Colorado participating in the Shared Branching program and 5,000+ locations within the United States. And that number is growing every day. We even have international Shared Branching Service Centers.

Isn’t it nice to know that you have easy access to your money when you are on vacation or if an emergency arises that takes you out of Colorado? Find a participating branch near you here or call 1-800-919-CUSC (2872).

Services Offered

Because a CU Service Center is a “shared” facility, members of participating credit unions can transact teller business, such as:

Some of these services may not be available at all locations.

  • Deposits
  • Withdrawals
  • Money orders
  • Transfer funds
  • 24-hour ATM access
  • Loan payments & advances
  • Balance inquiries on all accounts
  • Statement printouts on all accounts for the past 10 days
  • Purchase cashiers & certified checks

You can expect to pay a nominal fee* on the following items at service centers:

  • Service center checks
  • Checks deposited in excess of 10 checks
  • Money orders
  • Stop payments on counter checks
  • Notary service
  • Coin machine

NOTE: CU Service Centers may limit the amount of cash you can withdraw per day, regardless of RMLEFCUs withdrawal limit.

What You Will Need

You need these things when you visit a CU Service Centers Location:

  • Credit union name: Rocky Mountain Law Enforcement FCU
  • Your account number (without dashes)
  • A VALID U.S. Government issued picture identification with signature
  • Last 4 digits of your Social Security Number

Have these items ready to present to the teller. This will save you time and will help us with serving you. All transactions require identification because the CU Service Centers Network cares about protecting your identity and account information.

If you have questions regarding your account or transactions that were performed through the CU Service Centers Network, please contact us.

Courtesy Pay

Courtesy Pay is a free service that works as an emergency source of cash. If you do not have an Overdraft Protection Loan, Courtesy Pay will allow check, debit and ACH items to be paid by allowing your checking account to go into the negative, rather than returning the overdraft item.

Courtesy Pay will allow items to be paid up to $1,000. When paying the item, your checking account will go negative and you will be expected to pay the negative balance back within 30 days in addition to a fee of $28. This protects against mistakes made, or if you simply overdraw your balance. Courtesy Pay prevents collection agency fees and other associated fees and may help clear an important item such as a house payment.

Mobile Check Deposit

Deposit checks without ever setting foot in a branch! Mobile deposit uses your smartphone camera to make deposits in just a few quick clicks. No changing out of your sweats or human interaction necessary.

It’s free, secure, and easy to use. Save yourself some time — take advantage of this convenient mobile banking feature today.

  • Deposit checks anytime, anywhere from your mobile phone
  • Free service for customers with a Rocky Mountain Law Enforcement FCU checking account
  • Save time and avoid unnecessary trips to a branch
  • Deposit your check in just a few quick clicks.

Getting started is easy! Simply download the app for iPhone or Android and follow these steps:

  • Take a picture of the front and back of your check, following the on-screen instructions (make sure you sign it)
  • Select the checking account into which you want to make the deposit
  • Enter the check amount
  • Verify that everything on the screen is correct, then hit “Submit”
  • We’ll confirm that the check has been received

Apple Pay/Samsung Pay/Visa Checkout

Carrying around a wallet full of plastic can put in quite a bind if that wallet is lost or stolen. Connect your RMLEFCU checking account to a mobile payment app such as Apple Pay, Samsumg Pay, or Visa Checkout and have your virtual “debit card” password protected! A huge number of stores and restaurants now accept mobile payments, so you can leave the plastic at home.

Make banking easy, and dare we say it, fun. With RMLEFCU’s many convenient ways to bank, there is no need to fight traffic or even get dressed to perform your basic CU transactions.

*Some restrictions apply. Alimony, court, and certain government payments may not be made using the online bill pay service.