Unity One CU informs: BNSF Technology Awareness Day 2019

 

 

Over 100 students received a hands-on dose of reality as they participated in Unity One Credit Union’s Dollars to $ense breakout session during BNSF Railway’s Technology Awareness Day on Saturday, February 16, 2019. The interactive financial simulation was designed to engage high school students through a hands-on saving, spending and budgeting activity based on career and lifestyle decisions.

Attending students were given a budget sheet containing their profession, starting salary and an overview of the program. They were required to stay within their given budget while paying for basics such as housing, utilities, transportation, clothing and food. Students learned quickly that temptations like eating out and purchasing the most expensive car were easy ways to get in financial trouble. 

“This activity is one of our most requested presentations, because it condenses a whole semester’s worth of financial education into a thirty minute breakout session. Students gain valuable insight without facing harmful, real-life financial destruction. BNSF Railway has been a wonderful partner, and Select Employer Group, to work with on furthering our financial education outreach efforts. Teaching the idea of budgeting to students is a matter of life or debt, and we take it very seriously,” said Alyssa Guillory, vice president of marketing at Unity One Credit Union.

Teachers and non-profits in the Fort Worth area may request to host a free Dollars to $ense event by visiting Unity One’s website at www.unityone.org.

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About Unity One Credit Union

Established in 1927, Unity One Credit Union is the oldest credit union in Texas. A member-driven and not-for-profit cooperative, Unity One CU served the employees and families of the BNSF Railway for 70 years. However, after transferring its corporate headquarters to Fort Worth in 1998, the credit union expanded its field of membership to include other non-railroad companies, organizations and individuals.

Today, anyone who lives, works, worships or attends school in Fort Worth, Blue Mound, Saginaw, Haslet, Keller, Colleyville, Bedford, North Richland Hills, Southlake, St. Paul, MN and Kansas City, KS may apply for membership. Unity One CU has nine branches to serve over 30,000 members nationwide. For more information about Unity One Credit Union, visit www.unityone.org. Think outside the bank.™

 

About BNSF Railway’s Technology Awareness Day

BNSF's Technology Awareness Day is part of the National Black Family Technology Awareness Week. The national campaign was started by IBM, and aims to "promote significant minority achievement in engineering, science and technology." Corporate-sponsored events are held nationally during a week in February. 

The one-day event is a local version of the campaign that aims to educate local minority youths about careers in the technology field and challenges attendees to design and develop their own technological solutions that are judged at the event.

Unity One CU Scheduled Maintenance - March 2019

System Maintenance will be conducted on the following days. This may affect online, mobile and telephone banking performance temporarily. 

Tuesday, March 19, 7 p.m. - 12 midnight
Thursday, February 28, 2 p.m. - 7 p.m.

Thank you for your patience.

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Unity One CU informs: Mortgages designed just for you!

Your House. Your Loan. We know mortgages – like houses – are not one-size-fits-all. That’s why we offer a variety of loan programs along with personalized service to find a loan that best fits your needs. We’re always making sure to keep you at the center of the process.

  • Competitive interest rates and points
  • Low closing costs
  • No prepayment penalties
  • Online application
  • Knowledgeable, friendly mortgage specialists to assist you at every step until closing

Apply Now!

Unity One CU informs: Free Shred Day on March 16!

Save the date! Shred your documents for free at Unity One Credit Union's North Tarrant branch. This event is FREE and open to the community!

Please read carefully:
• PAPER ONLY. Please only bring paper items to be shredded. Remove all other objects. Other objects could injure handlers, volunteers and the shred truck. No binders, glass, books, knives, cassettes, DVDs--and the list could go on.
• BE COURTEOUS. Be courteous of others, and restrict the amount that you bring to be shredded to a few boxes. Only two trucks will be onsite.
• BE PREPARED. Be prepared to take your boxes or containers home with you.
• NO COMMERCIAL SHREDDING. We cannot accept commercial or business shredding, as a courtesy to other visitors.

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Unity One CU informs: When is debt consolidation helpful?

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Written by: Jenna Taubel. Originally posted on the CUNA Financial Resource Center.

If you’re struggling to pay off multiple debts every month, you may have considered a debt consolidation loan. But how do you know if a consolidation loan would be helpful for your situation?

What is debt consolidation?

Debt consolidation is a form of debt refinancing that allows you to combine multiple debts into one single loan, with one single monthly payment. You can use a debt consolidation loan to payoff unsecured debts such as credit cards, medical expenses, back taxes, legal and gambling debts, and even secured loans such as vehicle loans. While this may sound like a perfect solution to your financial situation, there a few things to consider before going down the debt consolidation route. The results of a debt consolidation loan should be to decrease your total monthly payments, lower your interest rate, and/or reduce total time to pay off your debts.

Will your total monthly payment decrease?

One way to determine if debt consolidation will be helpful for you is to determine if the total monthly payment will increase or decrease. To do this, add up all the monthly payments you make to your credit cards and other debts you’d like to consolidate. Then use an online debt consolidation calculator to help you determine how much your consolidation loan payment would be. Compare the two payment amounts and see if the consolidation loan payment is less. Make sure the reduced payment amount is now affordable for you. If it’s not, talk to your credit union about other possible solutions for you.

Will your interest rate decrease?

Pay very close attention to the interest rate you are offered on your debt consolidation loan. It should never be higher than the average interest rate you’re currently paying on your outstanding debts. If you’re offered a higher interest rate on a debt consolidation loan, then you will end up paying more money over the course of the loan than if you had just continued paying down your debts individually. There are companies that will charge upwards of 25%, but you can easily find a lower interest rate at a credit union.  

Will your time to pay off your debts decrease?

Compare the length of time it would take to pay off your debt consolidation loan to the time it would take you to pay off your debts individually. The length of your loan can affect your monthly payment and interest rate, so it’s important to pay attention to this. Typically, a shorter- term loan will have a lower interest rate but could have a higher monthly payment due to the short time frame. A longer-term loan may come with a higher interest rate but can often result in a lower monthly payment due to the extended time you have to pay it down. However, if you are struggling to pay down revolving debts like credit card balances, a longer, fixed term may be exactly what you need to finally payoff your debt.

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Unity One CU informs: Should you give your kids an allowance?

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Written by: Jeremiah Tucker. Originally posted on the CUNA Financial Resource Center.

Do you pay your kids an allowance? Should you? And if so, should they have to do chores to earn it?

As more people recognize the importance of financial literacy for children, experts are debating how most children are first introduced to the concept of money—the weekly allowance.

Ron Lieber, personal finance writer for The New York Times, says he and his wife pay their 7-year-old daughter $3 a week, no chores necessary. One dollar goes in a “save” jar and one goes in a “give” jar for a cause of her choosing. The final $1 she can spend as she wants. Lieber argues that an allowance is a teaching tool and making it contingent on chores muddies the issue. What if the children decide they don’t want money? Do they still have to do the chores?

Lewis Mandell, professor emeritus at the State University of New York, Buffalo, however, says unconditional allowances are a “terrible idea,” citing a study that showed kids who received a regular allowance with no work involved left high school knowing less about personal finances than kids who received no allowance.

According to a 2016 survey by the American Institute of CPAs, 68% of parents pay an allowance and require their children to work for it. On average, kids are completing chores about 6 hours per week and earning approximately $4.43 per hour.

The AICPA’s National CPA Financial Literacy Commission believes allowances (with or without chores) are a good way to teach children financial responsibility and encourages parents to talk to their children about good financial habits.

Here are a few tips to help you teach your own children how to manage money:

  • Use the allowance as a tool to reinforce good money habits from an early age. Talk about finances early and often, and set a good example. 
  • Consider matching their savings. To encourage savings, tell your children for every $1 they set aside for long-term goals, you’ll match it in their savings account. Then let them watch the money accumulate. 
  • Gradually introduce them to financial products. Start by depositing their allowance into a piggy bank, then a savings account, and later a share draft/checking account. 

Kids who learn to manage money at an early age are better prepared to handle their finances when they leave home. And, ultimately, teaching children good financial habits is a sound investment for parents; your child is less likely to find themselves in dire financial straits, needing you to bail them out. 

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Unity One CU informs: What a year!

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Fort Worth, TexasPeople helping people. It’s not only one of the most important philosophies of the credit union movement, but one that Unity One Credit Union has fully embraced year in and year out. Through community and SEG partnerships, Unity One employees have given back over 1,600 hours of service and nearly $23,000 in their local communities as of year-end 2018.   

Highlights of the year include:

  • 383 hours spent in the classroom presenting to students on a range of financial topics.
  • 396 hours spent at our Select Employer Groups helping them with their corporate events, community outreach and business fairs.
  • 497 hours spent working with local chambers and non-profits to better our local communities.  
  • 411 hours hosting credit union sponsored community events such as backpack giveaways, youth soccer tournaments, shred days and more.
  • A total of $8,764 raised for Children’s Miracle Network hospitals through employee fundraising efforts and corporate giving.
  • 155 toys and $1,100 were donated to the U.S. Marine’s Toys for Tots drive.
  • A total of $12,987 donated to local teachers, school districts and non-profits to support and improve the lives of local children and residents through their outreach programs.

 “I consider myself truly blessed to be surrounded by a team of employees who embrace the ‘people helping people’ philosophy. They bring their passion for their communities to work every day and it shows,” said Alyssa Guillory, vice president of marketing at Unity One Credit Union. “We couldn’t do this without the amazing partnerships we’ve developed with local non-profits and school districts over the years. Last year was an incredible year, and I look forward to all the good things to come in 2019.”  

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About Unity One Credit Union

Established in 1927, Unity One Credit Union is the oldest credit union in Texas. A member-driven and not-for-profit cooperative, Unity One CU served the employees and families of the BNSF Railway for 70 years. However, after transferring its corporate headquarters to Fort Worth in 1998, the credit union expanded its field of membership to include other non-railroad companies, organizations and individuals. 

Today, anyone who lives, works, worships or attends school in Fort Worth, Blue Mound, Saginaw, Haslet, Keller, Colleyville, Bedford, North Richland Hills, Southlake, St. Paul, MN and Kansas City, KS may apply for membership. Unity One CU has nine branches to serve over 30,000 members nationwide. For more information about Unity One Credit Union, visit www.unityone.org. Think outside the bank.™

Unity One CU Scheduled Maintenance - Feb 2019

System Maintenance will be conducted on the following days. This may affect online, mobile and telephone banking performance temporarily. 

Tuesday, February 19, 7 p.m. - 12 midnight
Thursday, February 28, 7 p.m. - 12 midnight

Thank you for your patience.

Contact Us

 

Unity One CU informs: Join us for a pancake breakfast!

Join us on Saturday, February 23, at our North Tarrant branch for a free pancake breakfast.  We hope to see you there!

Pancake Breakfast on Feb 23

Find a Unity One Branch

*While supplies last. Limit one pancake breakfast meal per person. No purchase necessary.

Unity One CU informs: Bob Bennett Memorial Scholarship 2019

Bob Bennett Memorial Scholarship

Attention High School Graduating Seniors and College Students!

Apply to become the 2019 recipient of Unity One Credit Union's Bob Bennett Memorial Scholarship. 

Scholarship Awards: 

1st Place:
 One thousand dollars ($1000)
1st Runner-up: Five hundred dollars ($500)
2nd Runner-up: Two hundred and fifty dollars ($250)

Deadline to enter is April 26, 2019!

Apply Today!

*Must be a Unity One Credit Union member in good standing to receive the scholarship. To open an account online, click hereFederally Insured by NCUA. Equal Opportunity Lender.

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