What's New

What's New -

GET PAID FOR USING YOUR CPCU DEBIT CARD!

Click here to learn about Dime Every Time - only at Carolina Postal Credit Union!!!! We reward YOU!

Just for CPCU members! - discounted Carowinds & Emerald Pointe tickets! Go to the Carowinds website and at the top right corner, (where it states "promo code") enter your special Corporate Partner Password, which is "CPCU10". Additionally, Gold Season Passes are available for $65 (versus $79.99) with the code "SP10".

For Emerald Pointe:
• Visit www.emeraldpointe.com and click on Corporate Tickets.
• Click on "Purchase Online Corporate Tickets and Passes" (middle of the page).
• Select the quantity of tickets that you need and add to cart. (Discounted rate will not show until corporate code is entered on next page.)
• Enter Corporate Code 4123 and click Apply.
• Follow directions to checkout. Your ticket will be emailed to you once the transaction is completed.

How does the New Federal Credit Card Act Impact You?

Interest Rates
OLD: Banks could raise the interest rate on an account at any time, including the rate on an existing balance, even if you weren’t late on payments.

NEW: The rate cannot be raised in the first year after an account is opened unless an introductory rate has come to an end. After that, cardholders must be notified 45 days in advance of any rate change. For existing balances, rates can’t be raised unless the account is at least 60 days past due. If payments are made on time for six consecutive months, the original rate must be restored.

CPCU: Our rates are fixed, always have been, and if we do make a change we'll tell you more than 45 days in advance. We have not changed our fixed rates in over 5 years.

Disclosures
OLD: The impact of the interest rate on paying down a balance was hard to compute.

NEW: Cardholders will see how many months it will take to pay off a balance if only minimum payments are made. Statements will also indicate how much needs to be paid each month to pay off a balance within three years.

CPCU: We’ve offered online calculators for years to help you figure this out…..but now our information is even clearer than before on your new Visa Credit Card statements!

Service Fee
OLD: Banks could charge as much as they wanted. They could assess annual fees, activation fees and other fees.

NEW: Service fees will be capped at 25 percent of the credit limit during the first year of use. After that, there is no cap.

CPCU: We have NEVER had an Annual Fee, Balance Transfer Fee or Transaction Fee! And as of February 26, 2010 we no longer have the Over-the-Limit Fee and the Late Payment Fee!

Grace Period
OLD: Some card companies sent out statements not long before payments were due, and sometimes shifted payment due dates from month to month, meaning that payments would not always have enough time to arrive and get processed before being deemed late!

NEW: The law requires that due dates remain consistent and statements must be sent out 21 days before the payment due date.

CPCU: Our Grace Period has always been 25 days. Always.

Universal Default
OLD: If you made a late payment on one credit card or loan, or even late payments for obligations like utility bills, that could trigger interest rate hikes on other credit card accounts.

NEW: Card companies cannot raise interest rates on existing credit card balances.

CPCU: Our fixed rates have remained constant – we have never raised rates on individual Visa Card members accounts due to late pays on other financial obligations.

Time to Switch? Click here to compare our Visa Credit Card to your current Bank Card -
and you can apply online or call us!

ALERT: Be careful with your Debit Card.

Officials with the N.C. State Employees Credit Union released an alert warning their members about a scam involving the use of their ATM cards at Raleigh area gas pumps. Carolina Postal CU has NOT had any reports of this impacting any of our members but we wanted to make you aware of the security risk.

How to avoid the ATM 'skimming' scam:

Use credit, instead of debit at gas pumps to avoid typing in your PIN.
Use gas pumps that are closest to the station attendant. Skimmers typically put the devices on an outside pump, away from the building.
When using an ATM, closely examine the card reader area of the machine. Look for devices that appear to be mounted on the exterior of the area, or if there is glue or tape residue around the card reader. If you notice any devices or if the ATM has been tampered with, call your local police.
Check your financial information, accounts with credit unions and banks; credit and debit card transactions, daily.

Credit Card Accountability, Responsibility and Disclosure Act of 2009 (CARD Act) FAQs

Congress created and the President signed a new bill called the “Credit Card Act of 2009”.

My loans are on payroll allotment/automatic transfer/or paid through direct deposit. How will this be affected?
If your loans are automatically paid through payroll allotment, direct deposit, or an automated transfer, you do not need to do anything. Your payments will continue as always, whether they are set up as weekly, bi-weekly, twice a month, or monthly.

I mail a check each month to pay my loan. How will I be affected?
There will be no change. You may continue to send your check monthly to pay your loan.

I want to keep paying my loan on the date I already have. That fits into my budget. Do I have to change?
No. You may continue to pay your loan on the same day as before, as long as you make your monthly payment by the due date.

How exactly will my loan due date change?
Your loan due date will not change.

Will my monthly payment amount remain the same?
Yes. All of the other terms of your loan will remain the same, including the monthly payment amount.

Will my interest rate change?
No. Your interest rate will remain the same during the course of your current loan.

Will this affect my credit report or rating?
As long as you continue to make your regularly scheduled payments by the due date, there will be no negative effect on your credit report or rating.

Check out the CPCU blog Family & new Facebook page! Be a Fan! If you are on Facebook please check out our new page. For savings assistance and smart financial tips go to our "Brighter than a Bank Blog". To see what our CPCU employees are up to, between birthday celebrations, on the road trips and fun community service, go to "The CPCU Blog." And for sheer fun, and the love of a good ole clunker car, check out our "I Love my Hoopty" Blog.

You may have heard that two corporate credit unions located in Kansas & California have been taken over by the National Credit Union Administration (NCUA) due to losses on mortgage investments. Corporate credit unions do not serve consumers. They are chartered to provide products and services to the more than 8,000 "natural person" credit unions across the US. These products and services will continue uninterrupted and there is no direct impact by NCUA’s actions on your deposits.

“Natural Person” Credit Unions, such as Carolina Postal Credit Union, that serve consumers remain very strong, with net worth exceeding 10 percent of assets, healthy growth in assets, membership, and solid loan portfolios despite the difficult economy. Likewise, Carolina Postal Credit Union remains well-positioned to meet your needs.

In addition to being a healthy institution, your money is safe at Carolina Postal Credit Union. Deposits are federally insured for up to $250,000. No member has ever lost a dime in an insured credit union account in the United States. All insured credit union funds are backed by the full faith and credit of the United States government.

It’s also important for you to remember that the board and staff of Carolina Postal Credit Union continue to work hard to meet the needs of all our member-owners, even as other institutions have cut back on lending and other key services. Carolina Postal Credit Union remains very well-capitalized. We remain dedicated as ever to doing what we’ve been doing for the last 75 years – meeting the needs of members like you.

Lastly, I want to thank you for putting your trust in Carolina Postal Credit Union. As a member-owned cooperative, it is our privilege to serve you and help you and your family reach your financial goals. Though times are uncertain for many families right now, I remain confident that by working together, we can weather this economic storm.
Please let us know if you have any questions, or if we can assist you in any way.

Joy Watts
CEO Carolina Postal Credit Union

Questions about your current mortgage? Wondering if you are financially able to purchase a new home now? Contact Joe - our Joe KNOWS Mortgages and he can answer and advise! Click here for detailed information.