What's New

FREE Financial Health Clinic

We want to help you save money in as many ways possible. We realize that you have a lot of "banking" choices, and we want to thank you for trusting us to continue to serve your financial needs.

As a thank you, we would like to offer you a FREE Financial Checkup. Our goal is to help you save as much money as possible by lowering your monthly payments and/or interest rates on loan and credit card balances that you have at other financial institutions. We will evaluate your current loans, interest rates, and monthly payments and give you an "apples to apples" comparison to show you just how much you could be saving by using more of the products and services at United Health Credit Union!

Click here to download your patient chart to get a head start, and call 650-231-1300 to schedule your free appointment today!

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Notice: Target Data Breach

Several news outlets have reported that a large data breach has occurred at over 2,000 Target locations and could impact up to 40 million consumers. The data breach took place from November 27, 2013 through December 15, 2013. At this time the data breach has only affected the brick and mortar locations. Consumers that purchased items via Target.com are not at risk.

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The best way to identify fraud on your account is to regularly review your transactions within online banking. Should you notice any fraudulent transactions on your account please call the following numbers:

To report fraudulent debit card transactions: (800) 617-3775

To report fraudulent credit card transactions: (650) 231-1300 Mon-Fri 9am-4pm

or toll free (866) 437-4957 (24 hours a day)

At this time, there is no need to contact the credit union unless you do suspect fraud on your account. We will continue to monitor this situation and notify any affected members if further action is required.

SPECIAL NOTICE TO Red Card Users: We have no way of knowing if you linked your Target Red Card to your United Health CU checking account or if your account data was compromised. Please monitor your account closely and contact us if you see any fraudulent activity. Target has published this number for more information: (866) 852-8680

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Don't Tax My Credit Union

Credit Unions are a big topic among politicians lately regarding tax status. Banks are pushing for Congress to impose a tax on credit unions and because credit unions are member owned, that is essentially a tax on all credit union members

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As You Know: Credit Unions are a not-for-profit member owned cooperative. While credit unions are regulated by the federal and state governments, they are also governed by volunteer boards elected by their membership. Credit unions don't answer to stockholders, but to each of their 96 million members.

The credit union mission has always been to ensure secure financial choices at lower costs for their members. That's why credit unions offer financial products that provide better returns on savings, reduced rates on loans and lower or no fees on services.

What they are Saying: Banks and some in Congress want to raise taxes and impose new fees on 96 million credit union members who represent 40% of all Americans, yet represent only 6% of the assets in financial institutions. And, they want to do this despite the fact that credit unions are not-for-profit and meeting their core mission every day.

How You Can Help: You can take action today by letting your Congressmen know that you do not support the taxation of Credit Unions. Visit http://www.donttaxmycreditunion.org/ today to send your Congressmen an email saying "Don't Tax My Credit Union."

Don't let Congress raise taxes on 96 million credit union members. Don't let Congress eliminate real financial choice. Don't let Congress destroy our credit unions.

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Credit Score Scares
Credit scores can be a scary thing when you're getting set to apply for a loan. It's almost as if these very secret computers check off everything you're doing with your credit, ready to put a big "denied" stamp on any application you'll fill out. Despite what you may have heard there are some things which don't directly affect that number.

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According to CreditScoreQuiz.org developed by the Consumer Federation of America (CFA) the age...of the person applying...doesn't have a bearing on your score. But it may if the age of your credit history is young. In other words, if you've not applied for a loan before and don't have an established credit history, it will be hard to get good rates. You need to have borrowed money to borrow money.

This next one may seem a bit unusual...but you don't have to be educated in finances to have a good credit score. The rating agencies don't care if you know about consumer debt, how you feel about debt or even if you don't have the resources to pay it back. But if you miss payments, your score will go lower. The number of missed payments and amount owed does impact your score.

Carrying a balance doesn't always mean a lower score. However, if you carry a high balance, in relation to your credit limit, your score will go down.

Relationships such marital or family status aren't included in your credit score. But if you have joint accounts, if you're a co-signer on student loans, or car loans, watch out---all can lower your score. And beware that if you have authorized users on your accounts, it can also negatively affect your credit score.

Buying a car...checking for several different types of financing in a short period of time...won't lower your score. Multiple credit inquiries during that time don't affect the credit score. But don't forget to make payments on time once you've made that purchase.

Your credit score will take a hit if you have a personal bankruptcy. There's no way around that. But don't go to a "credit repair" company. They're unlikely to do much more than take money that would be better used to pay debts. Keep the middle man out of the process. Contact your lenders yourself, and work out some payments. Call your credit union for advice too.

Here's some advice in dealing with your credit score. Check it out several times a year for inaccuracies. You can do that through your loan officer at the credit union. Or you can obtain free credit reports from the three reporting agencies: Experian, Equifax, and Trans-union.

And keep your credit score steady with these tips. Make sure your payments for all your loans are on time. Keep those balances under control. And finally, as easy as it may seem to open accounts---avoid the urge. You'll benefit from the longer you have credit, not from opening several accounts at the same time.

If you want to learn more about your credit score take the CreditScoreQuiz.org which was put together by the Consumer Federation of America (CFA) and VantageScore Solutions.


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Mailing Address Change

If you mail in loan payments to the credit union, please take note that we are changing our mailing address. Thank you in advance for helping us make this change.

United Health Credit Union 

1860 El Camino Real, Suite 100

Burlingame, CA 94010-3106

 

Now Offering AFFORDABLE Car Title Loans and Payday Alternative Loans
With many predatory lenders charging interest rates in the hundreds, United Health Credit Union is now offering title loans at an extremely low rate of only 23% APR*.

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We believe in providing socially responsible products and services for our members, and the new title loan product is an opportunity for you to get the quick cash that you need for a lot less money than you would pay in interest at a traditional title loan storefront in Burlingame. If you currently have a title loan somewhere else, please contact us to see if we can help you refinance the title loan over to United Health Credit Union.

Local Title Loan Provider:

Amount Financed Finance Charge Monthly Payment
$3,000 $5,000.76 $280.26
$5,000 $8,345.86 $556.08
$7,500 $12,518.87 $834.12
$3,000 $16,691.79 $1,112.16
APR: 119.88% / Number of Payments: 24


United Health Credit Union:

Amount Financed Finance Charge Monthly Payment
$3,000 $770.88 $157.12
$5,000 $1,284.88 $261.87
$7,500 $1,927.20 $392.80
$3,000 $2,569.76 $523.74
APR: 23% / Number of Payments: 24

*APR=Annual Percentage Rate.

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Tips on Buying Your Next Vehicle
Beware zero percent financing!

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Zero percent financing sounds like an amazing bargain--after all, how can you beat a no interest loan? Often, you can. Such "deals" frequently come with inflated prices for extended warranties and loan insurance, high application fees, and pre-payment penalties. And because you forfeit the rebate option, you end up paying a higher price for the car. You may also be required to repay the car in three years or fewer--resulting in a very high monthly payment.

Zero percent financing can be elusive. It is only offered to those with very good credit, as determined by the lender. And it is often not available for the most popular cars and trucks. When you're in the market for your next vehicle, let us help. Though we cannot offer 0% interest loans, taking advantage of a loan from United Health Credit Union with a competitive interest rate will most likely result in a better deal!

Dealer and Finance Company Loans
At an auto dealership, you will most likely be encouraged to use the dealers financing. While not all dealer loans are bad, in most cases a loan from United Health Credit Union will be a better deal.

Be prepared!
Here are some tips to help you get the BEST deal on your next vehicle:

  • STOP BY CAR LOTS WHEN THEY ARE CLOSED AND LOOK AT THE VEHICLES.
    This gives you the opportunity to kick some tires when there's no high pressure sales person to hassle you while you look.
  • DRIVE THE CAR IN THE DAYLIGHT.
    If it is the one you are buying, you will want to make sure there are no dings or marks to be discovered later.
  • GO LATER IN THE DAY.
    The sales people will often be less likely to try and spend an excessive amount of time with one customer.
  • ALWAYS PUT LIMITS ON YOUR BUDGET BEFORE GOING TO THE DEALERSHIP.
    Never walk into the dealership unprepared. Know what model you're looking for, the options you want, and how much you can spend. Do not get "talked into" going past your pre-set limits. You set that limit for a reason. Think about it away from the dealership. If the dealership is afraid to let you go, or makes it uncomfortable for you to do so, this is more of a reason to get away and think.
  • MOST IMPORTANTLY!
    Get pre-approved for your auto loan before you go to the dealership. Apply online 24/7 at www.unitedhealthcu.org. Walking into the dealership with a pre-approval shows that you're serious about making a purchase and gives you the upper-hand in negotiating the best price for your next vehicle.

Car buying tips courtesy of IFMAAutonetwork.com.

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