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As a local credit union our goal is to help our community succeed. We believe in nurturing personal and educational growth, and that is why we offer scholarships for students in the Quad City area. For members of our credit union and their family members, we offer a variety of scholarships. As of right now we have three different scholarships available. You can apply for these scholarships up to their deadline in April.

Kevin Post Memorial Scholarship

The Kevin Post Memorial Scholarship is given to one credit union member or a family member entering or attending an accredited University or College. The deadline is April 1st and the gift is paid July 2nd. Submit your application by email or to any Family Credit Union office. As long as you are attending a University or College, you can apply for this scholarship. There’s no reason not to apply for this scholarship! Apply with the application here.

Keith Ruefer Memorial Scholarship

The Keith Ruefer Memorial Scholarship is given to one of our members or their family member entering or attending the University of Iowa. The deadline is April 1st and the gift is paid July 2nd. You can submit the application through email or to any Family Credit Union office. All you need for this scholarship is basic information about yourself and the letter of acceptance or proof of attendance. You can access the application for this scholarship here.

The Family Scholarship for Hispanic Students

Our last scholarship we are offering is the Family Scholarship for Hispanic Students. The Family Scholarship is given to one credit union member or family member of Hispanic heritage entering or attending an accredited University or College. The deadline is April 1st and the gift is paid July 2nd. Submit your application via email or to any Family Credit Union office. You can access the application here.

More About Our Scholarshipsscholarship

The awards of these scholarships are based on:

  • Need
  • Academics
  • Extracurricular Activities

If you are applying for these scholarships, please make sure to get them in by their deadlines. If you have questions or want to know more about the scholarships, do not hesitate to give us a call. We would be happy to help in any way we can.

 

It’s the Beginning of a New Yearnew years resolution

Now that 2019 is here, everyone is making New Years resolutions. Have you made one? If you haven’t, we might have a few suggestions for you. Maybe your resolution could be to go back to school, get a car, buy a house, go on a vacation, or simply work towards paying off your debt. There’s something in common with all of these; we can help you achieve each of them. From student loans and vehicle loans to debt consolidation and savings accounts, we have the tools to help you work towards your New Years resolution.

Going Back to School?

College isn’t just a time investment, it’s a financial investment as well. We can help you along. We offer private student loans for the costs that aren’t covered by financial aid. These private loans come with a variety of benefits including no prepayment penalties, interest rate reductions for certain loan borrowers, and lower rates when signing as a creditworthy borrower or cosigning with a creditworthy borrower. These loans are a great option for someone looking to further their education in 2019.

Getting a Car?

Your resolution this year could be to work towards getting a new car. We can help you with a vehicle loan. The Family Credit Union has vehicle loans available for new or used autos, boats, motorcycles, or recreation vehicles. So even if it’s not a car, but a boat or motorcycle, we are here to help. Qualified pre-approvals make it easy for you to get a better arrangement with the dealer knowing you have the cash up front. We’ll help you achieve your goal. Just give us a call today and tell us how we can help you.

Private Student Loan Options

We are proud to be able to offer student loans to help cover the cost of school. Many people need a bit of extra help when it comes to paying for college. Even with the help of scholarships and financial aid, there can be costs that are not paid for. We can help you there!

Benefits of our Private Loans

We offer a variety of benefits for our loan holders, including:

  • Rewards and interest rate reductions available
  • Rates that reward creditworthy borrowers
  • Applying with a creditworthy cosigner may help you qualify and/or receive a lower rate
  • 100% US-based Student Loan Specialists
  • and more!

We would be so happy to help you or a loved one follow their dreams. Everyone should be able to go to school to pursue their dreams. Contact us today to learn more or to apply.

How will I pay off my student debt? How long will it take me to pay back my school loans? These question may run through your mind often. With the cost of education continually rising, it is no wonder people are worried about how they will pay for education. According to studentloanhero.com, With over 44 million American borrowers, they owe over $1.48 trillion in student loan debt. Whether you are just starting college, just graduated, or have been out of school for awhile, consider these tips to help pay off your student loan quicker.

Make An Extra Payment

Making an extra student loan payment each month is a great start to paying off your debt faster. Your extra payment can be of any amount. Remember that a little adds up. It is important to pay at least the minimum each month. Every few months, you can consider making an extra payment. Make sure to let your lender know that the additional money you are paying will be going towards an extra payment and specify that it is for principal only. This will limit the amount of interest that adds up. Without this step, your lender may hold the extra payment and add it to the following month’s payment. While this may not seem like a bad option, it turns out that you will be paying more interest.

Refinance Your Loansstudent loan payment

Refinancing student loans is a great way to help pay off your debt faster. So why should you refinance? Refinancing helps to lower the interest rates, allowing more of your payments to go towards your student loans. One option you can choose is to refinance multiple student loans. This will give you one consolidated loan that has one monthly payment. You can also choose to refinance only one loan for a lower rate. It is important to refinance loans where you will be able to decrease your interest rates.

Pay More Than The Minimum

If you are able to, paying more than the minimum payment each month is a good idea. You can pay the minimum payment with no penalty. Since interest is always accruing on your principal balance, paying more than the minimum can help reduce the cost of your student loans. Use the repayment estimator to find out your estimated payments HERE.

Lump-Sum Student Loan Payment

Whenever you receive a bonus or tax refund, it is a wise idea to apply a large chunk of it towards the principal of your student loan payments. It is a great way to help decrease your student loan payment for the future.

The Family Credit Union

If you or your child is just getting started with college, The Family Credit Union located in the Quad Cities offers a private student loan program to help pay for additional college expenses. To learn more about our student loans program, click HERE. The Family Credit Union is here to help you or give you advice with all of your educational expense needs.

 

Sallie Mae has developed a 1-2-3 Approach to Paying for College and The Family Credit Union is happy to present it to you and help you go through the steps.

The 1-2-3 Approach for Financing College

 

oneTake stock of the money you already have or can get that you don’t have to pay back.

 

Savings

You may already have a savings account set aside for college. This is one source where you already have the money and don’t need to look any further.

Scholarships

textbooksWhen looking at scholarships, begin applying early and apply for as many as you can. There are a wide variety of sources and some can be very specific in who they hand them out to. They can be tied to grades, talents, social organizations, employers, ancestry, and more. Do your research and try to get as many as you can.

Grants

Grants are usually federally-funded, so you will need to fill out the Free Application for Federal Student Aid (FAFSA). The FAFSA can also help with state-funded loans, grants, and scholarships. Pell Grants are the largest federal grant program and are based on financial need and do not need to be paid back.

Work-Study Programs

Work-study programs are funded by the federal and state governments and sometimes the school itself. The programs consist of part-time jobs that allow the students to earn money for education expenses. They don’t need to be paid back, as it is a real job and paycheck.

 

twoResearch federal student loans.

 

You will have to fill out the FAFSA mentioned above to apply for federal student loans. There are two kinds of federal student loans: Direct Subsidized Loans and Direct Unsubsidized Loans.

  • Direct Subsidized Loans are based on financial need and need to be paid back.
  • Direct Unsubsidized Loans are available to anyone, regardless of financial need and need to be paid back.

Federal student loans are issued to the student and are the student’s responsibility to pay back.

 

threePrivate student loans.

 

A student loan from a bank or credit union can help fill in gaps for funding your education. These loans are based on your credit, so you may need to have a cosigner. The Family Credit Union is proud to offer the Smart Option Student Loan to help with your education costs.

studentsSmart Option Student Loan

The Family Credit offers the Smart Option Student Loan to help with college expenses that are not covered by scholarships, grants, and federal student loans. You must be attending a degree-granting institution to be eligible.

You can borrow up to 100% of the school-certified cost of attending. There are no origination fees or prepayment penalties and you can choose from a fixed or variable interest rate if you are an undergraduate. If you are a graduate student, you can receive lower interest rates.

The process is easy, it takes only 15 minutes to apply and get a result. Contact us for more information

Encouraging responsible borrowing

We encourage students and families to supplement their savings by exploring grants, scholarships, federal and state student loans, and to consider the anticipated monthly payments on their total student loan debt and their expected future earnings before considering a private education loan.