Unity One Credit Union

Credit union informs: Single mothers in Fort Worth

Fri, Jun 27, 2014 @ 12:31 PM / by Erayne Hill posted in credit union, unity one, low cost loans, north fort worth

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Single mothers in Fort Worth have the third largest earnings behind Dallas and Houston areas. However many women’s earnings cannot cover the basic necessities that they need to help their families such as; housing, food, child care and health insurance. The Fort Worth Business Press released an article that discusses some of the concerns and statistics surrounding the financial wellbeing of single mothers in cities across the state of Texas.

The article states that “women in the Fort Worth Area earn almost $11,000 less annually than men.” And that women that live above the poverty line in Texas have a hard time acheiving economic security "as they face low-paying jobs, the high cost of child care, the lack of insurance benefits or the high costs of education and housing.”

Unity One Credit Union strives to help people in the Fort Worth area, particularly north Fort Worh, with all of their financial needs. Providing low cost loans to members in times of need is what we aim to do. For more information about a Unity One line of credit or other borrowing options, click below.

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Comparison of bank and credit union auto loan rates

Thu, May 16, 2013 @ 03:36 PM / by Erayne Hill posted in credit union, low cost loans, auto loan rates, Unity One Credit Union

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low cost loansIn the market to buy a car? Tempted by the banks in your area because, frankly, they are EVERYWHERE. Does repetition mean better value these days? Here's why the credit union difference is extraordinary.

Because credit unions are not-for-profit, they return their profits to their members or owners through low-cost loans, among other things. Credit unions, like Unity One Credit Union, use creative and cost-effective ways like techonology to provide superior service and convenience, rather than build branches on every street corner. The operation costs alone can be high and potentially rob members of benefits.

Let's compare auto loan rates between a credit union and large bank chains.

  Unity One CU (APR as low as)* Bank Competitors (APR as low as)*
48 months (new car)  2.55%  3.23-3.39%
60 months (new car)  2.75%  3.34-3.39%

*APR=Annual Percentage Rate. Rates are subject to change without notice.

Please note: The "bank competitors" are a range that includes three large banks in the 76244 (Fort Worth) zip code, collected May 2013.

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 the following Texas cities: Fort Worth, Blue Mound, Saginaw, Haslet, Keller, Colleyville, Bedford, North Richland Hills, Southlake; St. Paul, MN  and now Kansas City may apply for membership. Unity One CU has seven branches to serve over 24,000 members nationwide. The credit union is also a part of the CU Service Centers network, making credit union banking convenient no matter the location. For more information about Unity One Credit Union, visit www.unityone.org. Think outside the bank.™

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What is APR?

Fri, Dec 14, 2012 @ 01:41 PM / by Erayne Hill posted in credit union, buying a house, low cost loans, APR, annual percentage rate

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“I thought the rate on our mortgage was going to be 6.5%,” Jack said. “What’s this APR thing for 6.875%?”

Ann peered over his shoulder and glimpsed the paperwork he was studying. “Yeah, I had the same question,” she said. “Let me see if I can remember how Cyndi at the credit union explained it.”

Jack rolled his eyes. “In your own words, please honey. Okay?”

Ann laughed. They’d both found Cyndi amusing and annoying at the same time, with her lengthy explanations of every paper they signed. “At least she cares enough to explain everything, right? Anyway, we’re borrowing $225,000 to buy the house, and our interest rate is 6.5%, right?”

“I’m with you,” Jack told her.I would like to speak with a loan officer.

“Great. But besides the interest rate, we’re also paying certain fees to get the loan.”

“Sure.”

“Well, in order to compare apples to apples, we get a number that includes both the interest rate AND all the fees, as a percentage. That way, we’ll know exactly how much we saved by going with the credit union.”

“Kind of like comparing the unit price on groceries?”

“Yeah. The Annual Percentage Rate – or APR – takes all the fees we’re paying and adds them to the interest rate. It’s the true cost of our loan.”

The Annual Percentage Rate (APR) is the yearly cost of a loan, including interest, insurance, and the origination fee (buying a housepoints), expressed as a percentage. It’s usually applied to mortgages, credit cards, and automobile financing.

Unity One partners with CU Members Mortgage to provide credit union members with pre-qualification, expert advice and low cost loans.

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Credit unions aren't just for older people; they are for everyone!

Fri, Aug 31, 2012 @ 11:54 AM / by Erayne Hill posted in credit union, credit unions, low cost loans, save money

1 Comment

Teen Advisory BoardBy Morgan Kelsey, former Unity One Teen Advisory Board member and student at Texas Tech University

Most people associate credit unions with their parents and grandparents. We rode with them to the credit union with excitement as we went through the drive thru and waited with anticipation for the candy that is usually distributed to kids in the car from the person behind the window. The tellers deposited or withdrew money, as instructed, and then sent the tube back with that cherished lollipop or hard candy or so we hoped. The candy was the exciting part as a kid, but as we mature there comes a time when we should realize that credit unions aren’t just for older people. They are for everyone, no matter the age.

Students in high school and college can find the services and opportunities beneficial to them through a credit union. Everyone wants to have a say, and that’s exactly what you get when you have an account at a credit union. There won’t be an older person with more say than you because they have been there longer.

Credit unions can teach you how to save money, get low cost loans and free services. A bank will just entice you with something that will distract you from expensive products and increasing fees.

Shareholders control banks and members control credit unions. In a bank, someone with lots of shares will have more say then you if you just have one share. The bank satisfies the few and not the many. In a credit union there are no shares and each member, no matter how rich they are or how involved within the credit union they are, will get the same vote you do. The vote weighs the same.

Isn’t it nice to know that you have a voice, even if you are young, not wealthy or have debt? I think it is. This is why credit unions are no longer for older people, they are for everyone.

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Fashion Trends - When back to school loans come in handy!

Fri, Aug 03, 2012 @ 03:05 PM / by Erayne Hill posted in credit unions, saving cents, low cost loans, back to school loan

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teen with blue sweaterWhether you are a guy or girl, tween or teen, there are certain fashion trends that will be spotted in the hallways of most schools nationwide. Parents, this may be a good time for saving cents or checking out Unity One's back to school loan sale.

Here are the top fashion trends for 2012-13. Are you prepared?

  • Graphic style leggings - According to squidoo.com, boys are going to be wearing Aztec prints and stripes, and girls are crazy about plaid.
  • Denim - Look for colored denim and stylish vests and jackets.
  • Bold colors - Colorblocking is a huge trend, and don't be afraid of outrageous colors. Even when it comes to your sneakers--the brighter the better. According to chiff.com, the hottest colors are tangerine, hot pink and ultramarine green.
  • Oversized sweaters - Yes, finally comfort is in! Girls, borrowmale teen with sneakers your boyfriend's sweater, and boys don't be afraid of choosing a larger size. Or, guys can opt for hoodies--preferably lined with fleece.
  • Plaid - Crazy but true, experts recommend mixing plaids or at least incorporating it into your accessories like backpacks, jewelry, hats and shoes.
  • Stripes - This fun trend is suitable for both guys and girls. 
  • Vests - Although mainly for girls, leather and textured vests are fall's hottest trend. For boys, graphic styles add a bad boy edge.
  • Chunky Jewelry - From bracelets to rings to brooches, you can't go wrong with the chunk.

Did you answer the question? Are you prepared? If not, credit unions generally offer low cost loans with instant approvals. For an unsecured loan at a great rate, check out Unity One's back to school loan.

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Love your credit union! Here's why.

Thu, Jun 21, 2012 @ 11:23 AM / by Erayne Hill posted in credit union, credit unions, low cost loans

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money loveMost people don't consider credit unions for their financial needs unless they have family members or friends that are members. We are not on every corner, and within the last ten years many credit unions decided to open their membership to the community, in addition to serving their parent companies.

Credit unions are the essence of being American—working together to enrich lives. Here’s three reasons why you should care about where you bank and why you should love your credit union: 

Not for profit but for people. Credit unions are member-owned and not-for-profit cooperatives. Simply stated, a credit union is owned by its members (not customers), and each member owns one share of the credit union regardless of how many accounts he/she has or how much is on deposit. Rather than paying profits to stockholders, members pool their money so that the credit union can offer its members higher earnings on deposits, lower loan rates and additional financial products and services.

You drive this bus. Members assist in making important decisions for the credit union. They select the individuals that make up the Board of Directors, and the Board determines the general direction of the credit union. Board members are volunteers; they receive no payment for their work. They make certain that the credit union follows federal and state laws.

Credit unions ARE the communities they serve. Walk into any Unity One branch and you will meet employees that live, worship, study and frequent the places you do. In addition to profits being returned to the member through low-cost loans and higher dividends, a portion enriches the community through special events, financial education, donations and sponsorships and, most importantly, time. 

That’s enough to seek out a credit union, and these days, it’s a whole lot easier. Many credit unions do not limit their membership; they are open to the community. Click here to open an account with Unity One, with a minimum deposit of $5 and no minimum balance.

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