Category: whats-new

Federal Law allows you to get a free copy of your credit report every 12 months from each credit reporting company. This helps you to ensure that the information on all of your credit reports is correct and up to date. Credit reports may affect your mortgage rates, credit card approvals, apartment requests, or even your job application. Reviewing credit reports helps you catch signs of identity theft early.

Finance any NEW or USED auto (’24 and older) with rates as low as 4.24% APR*. Bring your car, truck, motorcycle, boat, ATV, camper, or snowmobile loan to SCU from another financial institution and save on finance charges. Most loans can be processed the same day or next. Longer terms available as well. Give us a call with the information so you only need to stop in once!

* Membership eligibility required. APR = Annual Percentage Rate. Rates subject to change without notice. Actual rate determined by credit score. Vehicle loan terms determined by the value of the collateral. We will “Rate Match” up to a maximum of .75% below the current eligible rate with member providing proof of rate eligible elsewhere.

SCU is excited to announce our partnership with ISL Education Lending to provide you with college financing options.  Click here to explore the options.

Student Loans

We work with ISL Education Lending to offer private loans to help you pay for college as well as refinance existing student loans. ISL Education Lending is a nonprofit organization with decades of student loan experience offering lower-priced loans.*

ISL Education Lending offers:

• Loans for college students.

• A loan option for parents and family members who wish to borrow on behalf of a college student.

• Multiple student loan refinance options.

In addition, they offer multiple scholarship opportunities and free college planning tools to help students and families avoid overborrowing and plan smart for life during and after college.

Learn more about ISL Education Lending’s offerings on their website.

Please note:

• All loans offered by ISL Education Lending are subject to credit approval.

• Before applying for a private loan, we encourage you to first complete the FAFSA, or Free Application for Federal Student Aid. You should also work with your college financial aid office to explore and exhaust all sources of student financial aid before seeking a private student loan.

*Service Credit Union is compensated by ISL Education Lending for the referral of student loan customers.

Our online banking offer the ability to set account alerts. When the criteria is met for the alert, you will get an email, allowing you to log in to online banking and transfer funds if needed. Do you share an account with someone who never records withdrawals? Set up an alert to notify you when a transaction posts.

Give us a call if you would like to learn more or need assistance setting up your alerts.

Disclaimer:  This article provides general information on the potential tax deduction available to individuals who financed NEW, made-in-America vehicles after December 31, 2024.  This article is not tax advice.  Please consult with your tax professional to confirm whether you qualify to claim this new deduction.

Tax changes for tax years 2025-2028 may allow individuals who financed a NEW made-in-America vehicle after 12/31/24 to deduct up to $10,000 of interest paid on their loan.  Generally speaking, a qualified passenger vehicle is:

•      A car, minivan, van, SUV, pick-up truck or motorcycle, with a gross vehicle weight rating of less than 14,000 pounds, that has undergone final assembly in the United States.  (Not sure if your vehicle’s final assembly was in the US?  Grab your VIN and visit vpic.nhtsa.dot.gov/decoder .  The “Plant Information” will tell you whether final assembly occurred in the US.)
•     A vehicle used for PERSONAL use
•     For amounts financed EXCLUDING negative equity from a trade-in rolled into the purchase deal at the dealership

In future years you will receive a new tax statement from your credit union that you can use if you qualify to deduct this interest.  For 2025, however, you’ll need to grab your December 31, 2025 loan statement to get your year-to-date interest paid for use when assembling your taxes.  

INCOME LIMITS MAY APPLY.  Consult your tax advisor for additional information on whether you qualify to claim this deduction.