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Nominating Committee Named for Board Elections

The Bourns EFCU Board of Directors has named Gerry Young, Karen Schicora and Farhad Adib as the nominating committee for this year's Board elections. There are five positions on the board which will be up for election.

Directors serve a three year term. You must be a member of the credit union in good standing to serve on the Board in or any committee position. If you are interested in serving please contact, Credit Union CEO, Elizabeth Lipke.

The new Board will be seated at the credit union's Annual Meeting of Members slated for May 18.

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Broad Brush Approach to Legislation Could Harm Credit Unions

Over the past few weeks, Congress has considered several pieces of legislation that could have an immediate impact on your credit union. If passed as currently written, these bills could either compromise critical programs (such as overdraft or payment card services) or require your credit union to pay for the countless mistakes of big banks.

With so many vital issues pending before Congress, we ask you to Connect for the Cause today as a credit union supporter with the hope you will engage on legislation regarding courtesy pay programs and interchange fees.

Click here to Connect for the Cause

Thank you for your commitment to credit union advocacy. If you have any questions about Connect for the Cause, please contact us.

Fraudulent Text Messages Ask for Credit Card Data to Rip You Off

The latest attempt to gain access to credit card account numbers comes in the form of text messages to your cell phone suggesting that your credit card has been compromised. You are then given a toll-free telephone number to call and your account number is solicited.

Don't be fooled! These are fraudulent attempts to gain access to your account and steal from you and the credit union.

New Legislation Would Expand Small Business Lending at No Cost to Taxpayers

Credit union champions Reps. Paul Kanjorski (D-PA) and Ed Royce (R-CA) introduced H.R. 3380, the Promoting Lending for America’s Small Business Act. The bill would:

Raise the current statutory limit on credit union member business loans (MBLs) from 12.25 percent of assets to 25 percent of assets;
Raise the minimum dollar amount for counting a loan toward the MBL ceiling from the current $50,000 to $250,000;
Exempt from the ceiling member business loans made to qualifying underserved areas and to non-profit religious organizations; and
Exclude non-profit religious loans from the cap.

Since all of these changes merely free up credit union assets for member business lending purposes, this legislation costs taxpayers absolutely nothing.

We applaud both Members of Congress for introducing legislation that will enable credit unions to make more small business loans to their members and foster economic growth during this tumultuous time. While Senator Schumer (D-NY) has not yet introduced Member Business Lending legislation, we are confident the Senate will also be active in finding ways for credit unions to help the economy through expanded business lending opportunities.

Your Funds are Safe
at Bourns EFCU!

Don't let the latest news about bank seizures put you in a panic. Your life savings are very safe at Bourns EFCU. There are lots of reasons to feel secure about your relationship with the Credit Union. Click here for all the details.

New higher government savings insurance coverage applies to Bourns EFCU accounts, too! The other great reason to save with us...great term certificate rates. Check it out here.

No Credit Crunch Here

If you are facing a payment reset on your home loan this coming year, please consider us for a fixed rate home loan or a more favorable adjustable rate loan.

Rates are still very low. Maybe a fixed rate option is available to you now that you’ve got some mortgage payment history under your belt.

Not yet in your own home? Lots of inventory puts you in the drivers seat. Get a great deal on a home, but come to us for the loan. Low up front fees minimize the cost of borrowing at Bourns EFCU. No broker fees, no lender fees. We just pass on third party costs to you - for title, flood, credit, appraisal, tax service and docs.