Bourns EFCU will be closed on September 6 in observation of the Labor Day Holiday. Please plan accordingly.
We hope that you have a safe and happy holiday weekend!


Regulatory Changes Impact
Credit Union Member Statements

Due to changes to Regulation E and Regulation Z, your credit union statement format will change effective July 1.

If you have any difficulty reading your statement or understanding the information presented, please let us know. We're happy to help you!

For more information about new regulations in effect, visit the Federal Reserve website www.federalreserve.gov

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Avoid Foreclosure!

See a list of local HUD Approved Housing Counseling Agencies.


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.

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.

Your Funds are Safe
 at Bourns Employees FCU!

Don't let the latest news about bank/credit union closures 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.


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Last updated July 15, 2008. 

© Bourns Employees Federal Credit Union.

1200 Columbia Avenue, Riverside, California 92507

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For more information, email, call toll free at 1-877-426-8767 x 2, locally at 951-781-5600, or fax 951-781-5452. Office hours: 9:00 AM PST to 4:30 PM PST, Monday - Friday.

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