June 2022 QuickNote
What is a Home Equity Loan?
A Home Equity loan allows you to borrow against the equity in your home. The loan amount is based on the difference between the home’s current assessed market value and any liens, such as the amount you owe on your mortgage. Home Equity Loans are often referred to as a Second Mortgage.

What can the money from a Home Equity Loan be used for?

The money you receive from a home equity loan can be used for almost anything!
  • Home improvements
  • Debt consolidation
  • Wedding expenses
  • Vacation

What are the benefits of a Home Equity Loan?

  • Low closing costs
  • Fixed interest rate
  • Interest paid on the loan is generally tax-deductible*
  • No penalty for early payoff
  • Borrow up to 90% of the equity you have in your home ($10,000 minimum)
  • Generally offered at a much better interest rate when compared to a personal loan, credit cards, and other unsecured loans.
*Be sure to check with your tax professional. Home Equity Loans are only available from homes located in Iowa. Federally insured by the NCUA. Equal Housing Opportunity.
RECREATIONAL LOANS

NO PAYMENTS FOR 3 MONTHS

on 2020 - 2022 qualifying loans!
*All loan financing is based upon credit qualifications. Offer applicable to new money only. Other restrictions may apply. Please see credit union for full details and disclosure. Offer subject to end without notice. Equal Housing Opportunity. Federally Insured by the NCUA.

While most of the system upgrade is complete, we’re still wrapping up the Debit Card conversion. We realize many of you have had issues with your Debit Cards, and we sincerely apologize. We opted to provide members with limited Debit Card access during the upgrade rather than no access. We realize this is not ideal, but it was our best option to continue to provide you with Debit Card service. We sincerely thank you for your patience and understanding.
 
The following tips should help you avoid inconveniences until the final steps of the system upgrade are complete.  
 
Transaction delays until the end of June
  • Account Balance: Manually track your account balance because the balance reflected in Mobile Banking and Online Banking may be incorrect because of delays. Failure to keep track of your account balance could cause you to overdraw your account and incur fees. 
 
  • Transfers: Transfers made using your Debit Card, Mobile App, or Online Banking could be delayed. To avoid inconvenience, we strongly encourage members to make transfers well before needing those funds. 
 
Spending Limits – Temporary spending limits have been added to all Debit Cards until the system upgrade is complete. These limits may vary, so we recommend that you carry alternative forms of payment such as cash or a credit card.
 
Debit Cards Linked to Account – Please take a minute to verify that your Debit Card linked to the proper account during the system upgrade. 
 
Back-Up Payment Methods – Since the Debit Card upgrade will not be complete until the end of June, we strongly recommend that you carry alternative forms of payment such as cash or a credit card.
 
Mobile App Refreshing – To force the Mobile App to refresh and pull the most current information available, we recommend that you log out of the Mobile App and then log back in.
 
Verify Loan Payments – Please take a minute to verify that your loan payments are pulling from your correct account. Unfortunately, we can not check all accounts, so if you notice any issues, please contact the credit union, and we will correct the issue immediately.  
 
Verify Direct Deposits – Please take a minute to verify that your direct deposits are going to the correct account. Unfortunately, we can not check all accounts, so if you notice any issues, please contact the credit union, and we will correct the issue immediately.  
 
ATM Cards – ATM Cards that are linked to only a Savings Account are only to be used at an ATM. We realize that before the upgrade, some ATM Cards could be used to make retail purchases. However, this process was not compliant and has been discontinued. If you want to use a Debit Card to make retail purchases, we encourage you to open a Checking Account with a linked Debit Card. 
 
Traveling – Please notify the credit union of your travel plans to avoid any service interruption.

Be sure to check out the Frequently Asked Questions section of our website!

During the 1st quarter of 2022,
we paid borrowers
$6,765.10 in disability benefits!

Life is unpredictable, but we can help you prepare with Credit Life or Credit Disability Insurance!
POP-IN Member Appreciation

Please join us for POP-IN Member Appreciation events on:

  • Friday, June 24th, from 2 pm – 4 pm
  • Friday, July 22nd, from 2 pm – 4 pm
  • Friday, August 26th, from 2 pm – 4 pm
 
Sarah Buehler and Gabe Rohwedder of Securian will serve treats and answer your financial questions. We look forward to seeing you! 
Dates to Remember

Monday, June 20th - Closed in observance of Juneteenth Day

Friday, June 24th - POP-IN Member Appreciation from 2 pm – 4 pm

Monday, July 4th - Closed in observance of Independence Day

Friday, July 22nd - POP-IN Member Appreciation from 2 pm – 4 pm

Friday, August 26th - POP-IN Member Appreciation from 2 pm – 4 pm

Monday, September 5th - Closed for Labor Day

Remember, even when we're closed, we're still open. Access your account information 24/7 with QOCU Mobile App or Online Banking!
3535 Center Point Rd. NE
Cedar Rapids, IA 52402-5530
Phone: 1-319-395-7060
Toll-Free: 1-800-519-9762
Fax: 1-319-395-7135

NEW Lobby & Drive-Up Hours 
Monday: 9:30 am – 4:30 pm
Tuesday: 9:30 am – 4:30 pm
Wednesday: 9:30 am – 4:30 pm
Thursday: 9:30 am – 4:30 pm
Friday: 9:30 am – 5:00 pm

Closed Daily for Lunch 1:00 pm – 2:00 pm

Federally insured by the NCUA. Equal Housing Opportunity.