October 2024 QuickNote

*Offer valid until 12/31/2024. Interest will accrue during the 90 days of deferred payments. All loan financing is based on credit qualifications. Offer applies to new money only. Other restrictions may apply. Please see the credit union for full details and restrictions. Not all applicants will qualify. Interest will begin accruing at the time of loan funding. Federally insured by the NCUA.

The Annual Holiday Skip-A-Payment Program allows you to skip December’s payment on any* QOCU loan to help pay for holiday expenses. The following members or loans are not eligible for Skip-A-Payment:

• Members whose account(s) are not in good standing.
• Home equity loans and credit card loans.
• Loans subject to an extension in the year you apply for the Skip-A-Pay.
• If the Skip-A-Pay convenience fee of $25 per loan is not available in your savings and/or checking account when the application is submitted.
• Loans delinquent within the last 6 months of the date you apply for the Skip-A-Pay.
• Loans with a monthly payment of $100 or less.
• Loans financed after June 1, in the year you apply for the Skip-A-Pay.
• Loans with a balance of $500 or less.

Applications for the Holiday Skip-a-Payment will be accepted from October 1st through Friday, November 22, 2024.  

Share your Quaker Oats Credit Union story on or before November 16th for a chance to win FOUR FREE tickets to an Iowa or Iowa State home game! This is your chance to cheer on your team while sharing the credit union difference.

Vehicle Protection Plan

Did you know approximately 7 tire punctures occur every second, resulting in 220 million flat tires per year? Vehicle Protection Plan (VPP) has multiple benefits, including pothole damage, tire/wheel protection, and lost key replacement. 

Quaker Oats Credit Union offers a Vehicle Protection Plan with 6 essential coverages on any vehicle:

1. Key/Remote Replacement
2. Tire & Wheel Road Hazard Protection
3. Cosmetic Wheel Repair
4. Paintless Dent Repair
5. Windshield Repair
6. 24-Hour Emergency Roadside Assistance

Please contact the credit union to get a FREE quote. An auto loan with QOCU is not required to purchase VPP.

Gap Protection

Cars are depreciating faster than people are paying off loans. This means that in the event you are in an accident and your vehicle is totaled you may owe more on your vehicle than the insurance is willing to give you to pay off the loan.

GAP insurance can help protect you in the event that your vehicle is lost, stolen, or totaled. For a one-time cost of only $495, you will be covered for the difference in the market value of your vehicle and what the insurance will give you in the event of a loss.

With the GAP advantage, you automatically get $1,000 to use on the purchase of your next vehicle as long as you finance with Quaker Oats Credit Union within 90 days.

Auto Advantage Deductible Reimbursement Insurance

We're proud to offer our members Auto Deductible Reimbursement Insurance, which will help cover out-of-pocket expenses, such as your insurance deductible when you have an accident or mishap with your vehicle.

• Pays up to $500 per loss when a claim is filed and paid with the primary insurance carrier.
• Loss means an event for which the auto insurance company has approved & paid a claim that exceeds the Covered Auto Deductible for a collision or comprehensive claim.
• Coverage is effective upon enrollment and will continue for three years.

Not only does this insurance cover deductibles for the vehicle you have a loan on, but it will also reimburse you for insurance deductibles that you have to pay on all other vehicles, as long as those vehicles are titled in the same person's name that is listed on the GAP policy.

Extended Warranty

A vehicle is a huge investment. With all the computer and electronic parts in today’s vehicles, one mechanical repair can often cost several thousands of dollars. To keep you on the road, we have partnered with Route 66 to offer an extended warranty that comes loaded with benefits that you don’t usually get with a warranty from a dealership. Route 66 warranties are often cheaper than dealership offerings, and there is no deductible. 

Plus, you can choose any certified mechanic you’d like and aren’t forced to take your car to the dealership. Also, the warranty is transferable, which makes your car worth more money at resale.

Identifying Fraudulent Checks

With advances in scanning and printing, scammers can produce counterfeit checks that are alarmingly close to the real thing. But several physical clues can help you realize they're fraudulent. Many credit unions will place checks on a mandatory 24-hour hold to ensure their legitimacy.

Ways to Spot Fraudulent Checks

Feel the edges

Legitimate checks will usually have at least one rough or perforated edge. One surefire way of spotting a fake is to examine its edges. If all four sides are smooth, it was likely not issued by a financial institution.

Look at the logo

A hallmark of any legitimate check is the bank's logo where the account is held. If there's no logo, it's probably not a real check. If there is a logo but it's faint or faded, that's a sign that it's been copied from another source.

Verify the bank address

Even if the logo looks legit, check the website of the named bank or call its customer service number to make sure the address written on the check is correct. If the address is absent or includes a P.O. Box, don't cash the check.

Credit Insurance

International Credit Union Day

Thursday, October 17, 2024

International Credit Union Day® celebrates the spirit of the global credit union movement. The day is recognized for reflecting upon the credit union movement's history, promoting its achievements, recognizing hard work, and sharing members' experiences. International Credit Union Day has been celebrated on the third Thursday of October since 1948.

The ultimate goal is to raise awareness about the tremendous work that credit unions and other financial cooperatives do worldwide, allowing members to get more engaged.

Thank you for your membership, and Happy International Credit Union Day!

Dates to Remember

Monday, October 14th - Closed for Columbus Day

Thursday, October 17th - International Credit Union Day

Remember, even when we're closed, we're still open. Access your account information 24/7 with QOCU Mobile App or Online Banking!