News

December 22, 2009

It’s Tax Time!

Instead of paying to file or prepare yor taxes, why not use the free service offered through our website? It’s called Just File It! and it is completely free for anyone to use! The program starts January 18, 2009. To get more information, please click here!

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December 21, 2009

Holiday Hours

ACFCU’s holiday hours are as follows:

December 24, 2009 – Lobby and Drive-Thru 9:00am – 1:00pm

December 25, 2009 – Closed

December 26, 2009 – Closed

December 31, 2009 – Lobby and Drive-Thru 9:00am – 1:00pm

January 1, 2010 – Closed

January 2, 2010 – Lobby Closed, Drive-Thru 9:00am – 12:00pm (Noon)

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December 09, 2009

The FAIR Overdraft Coverage Act

On November 17, 2009, the Senate Banking Committee held a hearing on S. 1799, the Fairness and Accountability in Receiving Overdraft Coverage Act of 2009 (FAIR Act). While this legislation is designed to protect consumers from unscrupulous financial products, the results will adversely affect many families and individuals who are already dealing with financial challenges. 

 If passed, S. 1799 will limit the number of overdraft coverage fees (Courtesy Pay) financial institutions can charge their account holders to one per month and six per year. The results could have the following devastating effects for consumers:

  • Additional NSF charges from their financial institution and bounced check fees from merchants;
  • Damage to credit rating and possible prosecution; and
  • Potential loss of check-writing privileges at a financial institution that drives them to more expensive alternatives.

Plus, consumers who do not regularly use overdraft service could be penalized as well by the loss of free checking and additional fees as financial institutions are force to re-price their services to make up for the lost overdraft fee revenue.

Unfortunately, this debate is going on beyond the awareness of most consumers, but their input is paramount to finding a win-win solution. It is imperative that we ask account holders to take action!

Please visit www.capwiz.com/cuna/home for more information and to give your input!

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 December 09, 2009

1099-INT Information

Members who receive 1099-INT forms can visit: www.irs.gov/pub/irs-pdf/f1099int.pdf to see additional information from the IRS about the form.