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EASTERN PANHANDLE FCU

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Established Member

Re: EASTERN PANHANDLE FCU

I really appreciate everyone's input and am going to look at all of your threads for more advice and look around more. I think I am much better positioned for a lower rate card with current scores and income qualifying. In addition my debt load is low with a small mortgage. I just need to get that TU score higher and garden a little bit more before I apply in the next few months but in the meantime I'm going to check out other credit unions and if a back door exists to get in. Thank you all so much!

Nocredometer69
Equ 777
Exp 773
TU 741
Fico 8 scores (5/2020)
Message 11 of 24
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Valued Contributor

Re: EASTERN PANHANDLE FCU


@Nocredometer69 wrote:

I really appreciate everyone's input and am going to look at all of your threads for more advice and look around more. I think I am much better positioned for a lower rate card with current scores and income qualifying. In addition my debt load is low with a small mortgage. I just need to get that TU score higher and garden a little bit more before I apply in the next few months but in the meantime I'm going to check out other credit unions and if a back door exists to get in. Thank you all so much!


As you watch your scores improve further, you can also see if by chance we know which report the bank you're about to apply for pulls. Here is this link and we update it as new data comes in, Which Banks Pull Which Report 

 

It's not 100% guaranteed, but as we add more data we continue to see more validation of the info on it. There are tons of CU's that are open to anyone across the country, and there are various ones that are locked down, but oddly will let you join if you donate a $5 - $25 amount to an affiliate organization. You can "buy" your way in, if you will. The Personal Finance section here will give you a lot of info about CU's in general and you can always just post your question and someone will very likely know something, or point you in the right direction

Message 12 of 24
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Established Member

Re: EASTERN PANHANDLE FCU

This is great info for a new person on the boards line me. It would be my pleasure to offer any new info. It seems every lender pulls a Fico 8 or 9 model or bank card version 8 or 9 these days unless it's a mortgage report which has versions 5, 4 or 2 of Eq, TU and Exp . I don't think any lenders using Vantage credit 3.0 even the auto lenders are primarily using Fico 8 auto scores . Anyway will offer an update when I apply with info and decision (yay or nay lol)

 

yes , the back door in if you make a contribution to an affiliate charity etc

Nocredometer69
Equ 777
Exp 773
TU 741
Fico 8 scores (5/2020)
Message 13 of 24
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Super Contributor

Re: EASTERN PANHANDLE FCU

Many credit unions, especially smaller ones, use the older FICO mortgage models. Since 8 and 9 are almost always higher than 5, 4, and 2, if you don't know what a CU pulls I would just prepare for it to be mortgage honestly. That way you're not looking at a 740 EX8 when in reality you have a 670 EX2 and that's what they use. 

✌️
Message 14 of 24
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Valued Contributor

Re: EASTERN PANHANDLE FCU

Welcome to My Fico Forums, @Nocredometer69  Smiley Happy

 

8.90% for a no-rewards Visa card is not a bad rate at all.  That said, there are a lot of other lenders that offer something as good if not even better.  So if you bank with Eastern Panhandle FCU, it might be more convenient to just have their card.  If you're looking for a really good low rate, I've seen several lately that were 7.5% or even under 7% or 6%.  While there are many other options, let me tell you about one in particular. 

 

Navy Federal (if you qualify for membership as a veteran or a relative of a veteran) has their Platinum Visa with rate as low as 5.99% with $0 fees (no annual fees, balance transfer fees, cash advance fees, foreign transaction fees.)   It also has secondary CDW (Collision Damage Waiver) on rental cars, Travel and Emergency Assistance, Extended Warranty Service, and Cell Phone protection included.  24/7/365 Customer Service support.   Navy is known for offering 0% BT offers regularly along with their $0 BT fees.  And you can access Navy FCU's "Member Deals" for savings.   (See: www.navyfederal.org.)

 

 

 



Updated 05/18/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 8+ years; AoYA = less than 1 year (April 2020)
Total Open Credit Lines Over $492K. Utilization Less Than 1%. Inquiries until Nov 2020 (TU:2 -- EQ:4 -- EX:6)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 15 of 24
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Mega Contributor

Re: EASTERN PANHANDLE FCU

I'm in search of good rates for deposits, and looking at deposit rates at this CU, it starts:

 

EPFCU DIVIDEND RATES DECLARED 09/19/16
Dividend declared for the 3rd Quarter 2016

 

Now I know that critics say that everyone is always wanting instant data and we should relax a little etc, having stuff 3.75 years old suggests that web updates isn't a priority.....

Message 16 of 24
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Valued Contributor

Re: EASTERN PANHANDLE FCU


@longtimelurker wrote:

I'm in search of good rates for deposits, and looking at deposit rates at this CU, it starts:

 

EPFCU DIVIDEND RATES DECLARED 09/19/16
Dividend declared for the 3rd Quarter 2016

 

Now I know that critics say that everyone is always wanting instant data and we should relax a little etc, having stuff 3.75 years old suggests that web updates isn't a priority.....


Probably not a priority, but this is a tiny little credit union.  According to web data including Deposit Accounts, they only have $16 Million in assets, two locations, five employees (as of 12/2019), and only 2,670 members.  Even though West Virginia is a small state, this credit union is #41 in size in the state.  (They make AOD FCU's $325 Million in Assets seem enormous! lol)  Smiley LOL  AOD is literally 20x their size!

 

Meanwhile, their banking deposit interest rates are unexceptional, so they probably haven't been adjusted since 2016 and the rates page probably just shows when the last change was made. 

 

                                                                                                                                         

Deposit Rates

  


RANGE 

DIVIDEND RATE           APY*

 

Regular Share Accounts

  
$5.00 - $2,500.00.01%.01%
$2,500.01 - Max.02%.02%
Youth Share Accounts  
$5.00 Minimum.10%.10%
Vacation Club Accounts  
$5.00 Minimum.025%.025%
Christmas Club Accounts(Dividend is declared at time of club maturity) 
$5.00 Minimum.025%.025%
*APY is the Annual Percentage Yield.  

Rates subject to change quarterly.
(Complete account disclosures available upon request.)



Updated 05/18/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 8+ years; AoYA = less than 1 year (April 2020)
Total Open Credit Lines Over $492K. Utilization Less Than 1%. Inquiries until Nov 2020 (TU:2 -- EQ:4 -- EX:6)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 17 of 24
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Established Member

Re: EASTERN PANHANDLE FCU

8.90 fixed rate

no annual fee

no balance transfer fee

no cash advance fee

I believe this is exceptional for a credit card. Bigger is not always better in a credit union. I have the Schumer's box disclosure and verified this info with a loan officer yesterday 

Nocredometer69
Equ 777
Exp 773
TU 741
Fico 8 scores (5/2020)
Message 18 of 24
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Valued Contributor

Re: EASTERN PANHANDLE FCU


@Nocredometer69 wrote:

8.90 fixed rate

no annual fee

no balance transfer fee

no cash advance fee

I believe this is exceptional for a credit card. Bigger is not always better in a credit union. I have the Schumer's box disclosure and verified this info with a loan officer yesterday 


I agree that is a very good rate.   Much better than many banks or credit unions.  And agree that the terms are good.  And agreed that bigger isn't always better.  You sound a little defensive.  As I suggested, if you bank with them, they might be a good fit for you. 

 

That said, 8.90% fixed is not the absolute best rate going.  And there are other cards with no or low fees also.  That's all I was trying to say in my earlier posting about Navy Federal.  For example, many on My Fico (myself included) recently got 7.49% fixed on the new AOD FCU Signature Visa (Alabama) that also pays 3% uncapped and uncategorized cash back rewards.  It also has no annual fee, no foreign transaction fee, and no balance transfer fee.    And with the prime rate down at 3.25% currently, variable rate cards like the Navy FCU Platinum are down to 5.99%.  And even before the prime dropped, the NFCU Platinum rate was 7.49%.  Once you start looking around, you can find many examples of low rate cards under 9%, but 8.90% fixed is a very good rate.  

(For the AOD FCU card, see: https://www.aodfcu.com/personal/credit-card-signature/)

 

is one of our members who pursues the lowest APR cards so he can probably add to this discussion if you'd like more options.  Nobody was saying that the 8.90% is not a good deal, just that there are other options and some that might be even better. 

 

By the way, my comments to @longtimelurker about the size of the credit union were not a criticism of it as much as a defense of it for their not maintaining their website like you might find with a much larger bank or credit union.  And I said their (banking deposit) interest rates were unexceptional; I was not talking about the APR on the credit card.  That whole discussion wasn't about the credit card; it was about deposit account rates.  And yes, small credit unions have their advantages.



Updated 05/18/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 8+ years; AoYA = less than 1 year (April 2020)
Total Open Credit Lines Over $492K. Utilization Less Than 1%. Inquiries until Nov 2020 (TU:2 -- EQ:4 -- EX:6)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 19 of 24
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Established Member

Re: EASTERN PANHANDLE FCU

Great input from all and thank you. I was outside playing cornhole with my neighbor (lol) when I typed my last reply and was just refreshing the characteristics of the card. I did not mean to come across defensive and am very appreciative of everyone chiming in with good wisdom. I agree better rates out there. I don't think my fico 8 scores are high enough for 6-7% rate cards either. I need to be closer to 780 or high across the board imho. A good point was made that older more obscure credit unions probably are pulling older versions of Fico. Being a subscriber to Myfico I know those scores and when I refinanced my house about a month ago they were spot on with the mortgage company pull (Factual Data was credit company that furnished credit and Fico scores) . Those mortgage credit scores were all 740-750 versus primarily 770ish Fico 8 scores I have now. Well worth the subscription fee ! This has been a really good thread with a lot of wisdom parted . Thank you again

Nocredometer69
Equ 777
Exp 773
TU 741
Fico 8 scores (5/2020)
Message 20 of 24
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