Blog – Page 12 – The Wonderful World Of Wauna

How do I remove a debt collection from my credit report?

If you’ve ever let a debt go unpaid, your creditor probably sent it to a debt collector. Debt collectors are serious about getting you to pay. That’s why part of their strategy is to list the unpaid account on your credit report. This in turn damages your credit score, and appears on your report for future lenders to see. Your collection will remain on your credit report for up to seven years.

While there is no guaranteed tactic to getting it removed, here are a few things you can try:

Check for accuracy

If you’re reviewing your credit report and don’t recognize the collection account, confirm that it’s actually yours.

A study by the Federal Trade Commission concluded that about 25% of consumers had an error on their report, and 5% were stuck with higher interest rates as a result. Additionally, about 20% of people who disputed those errors received a better credit score.

File a dispute (if the debt isn’t yours)

If you discover a mistake, let the credit-reporting bureaus know as soon as possible. Send a message online or through the mail explaining the error and why it’s wrong, and provide copies of any supporting documentation if possible.

Credit bureaus typically have 30 days to respond. Even if they correct the inaccurate information, however, it might take a few months for your report to update.

Write a “goodwill letter”

What do you do if the collection account is accurate? Try writing a “goodwill letter” to your creditor.

Because if you have great credit history and pay off the collection, they may remove the negative information. Alternatively, if you missed payments because of a financial hardship, you should write a letter explaining that as well (just make sure you’ve since paid off your collection balance).

Need help reviewing your credit report? Talk to one of Balance’s Certified Financial Coaches or contact us to talk with one of our friendly member consultants today!

Not the Chief of Kisses and Hugs: CXO, John Moore celebrates 5 years at Wauna Credit Union

Some leaders just have it…

…that spark you can’t help but feel drawn to…their charisma, challenging nature, or their ease in guiding the ship. This Wauna Credit Union leader comes from what us Credit Union-ers call the “Dark Side”, having spent the bulk of his early career in big banks. But it’s hard to shun such a past when with it comes a myriad of great ideas, experiences, and what-not-to-dos that have not only embraced our Wauna culture, but have inspired many to be greater.

And so today we celebrate our CXO, John Moore, because today marks fives years he has spent with us here at Wauna Credit Union. And to give you a better idea of who the man is behind the title, we posed a few queries to Mr. Moore to learn just a little bit more about who he is and what makes him tick.

What is your current position?

John hoisting up a Branch Achievement Eagle Trophy

CXO, which stands for “Chief Experience Officer” and not the Chief of Kisses and Hugs — although I do value all of our members and want them all to know how we are appreciative and honored to be entrusted as their consultants. More specifically, I Provide help and support to training, lending, and all WCU branches. This ensures our focus is on creating life experiences for our members with every interaction we have.

What is something that working at WCU has taught you?

Coming from a 20+ year career in banking, I thought that credit unions did the little loans and small savings accounts. Also, I had no idea that WCU is a full-service financial provider. I am glad I didn’t know what I didn’t know prior to coming here or I would have felt intimidated competing against WCU. This credit union has the best Residential, Commercial, and Consumer loan products on the market. A bank cannot come close to delivering a service promise like we do. We tailor our lending and deposit products to meet what our membership asks for. Also, we survey our membership and always put their needs first…that is why we are here. I now truly understand what being “member-owned” means.

If you could choose one new hobby what would it be?

I would love to write a book. Something in the horror genre, but nothing involving clowns as I don’t want to be afraid of my own work.

John and his daughter, Emma, giving the “Wauna Strong” post in front of his new rig

We hear you’re quite a fan of Star Wars. See if you can answer some trivia: In real life, this material made up of made of nitrobenzene, saltpeter, sulfur, and diatomaceous earth would have caused Bespin to explode. What do you call this substance?

Actually, it’s part of my New Employee Orientation presentation. I tell new employees that I will never leave or retire from WCU but will actually be encased in a block of Carbonite. Oh, and Han not only shot first, but was the only one to fire his weapon.

Is it better to be extraordinary and always late, or just OK and always on time?

Well, as the CXO, I would like to say be on time and be extraordinary. But if these are my choices then definitely get more beauty rest to be that much more extraordinary.

There you have it.

He loves Star Wars, is a member-oriented leader, and cares about his staff and the credit union movement. Thank you for a “Waunderful” 5 years, John! We are glad you came over to Wauna Credit Union from the Dark Side! We also look forward to freezing you in Carbonite and placing you in our headquarters’ lobby.

Saying “I Do” to Homeownership: How to Prepare for This Big Commitment

Buying a home is a major commitment. It’s a bit like, well, getting married. You’ve got to be ready and you have to find the right “one.” And, like a marriage, homeownership is a dynamic experience that requires a tremendous amount of care and attention. If you are ready to shift from renter to buyer, you’ve got some legwork to do.

Here’s how to prepare:

Credit matters
Quite simply, the past can either haunt or help you. If your debt-to-income ratio is too high, financial institutions will likely be wary of extending you another loan. If you have had problems repaying past obligations, a lender will have trouble trusting that you will pay your mortgage on time.

You can increase your FICO score (a credit scoring model that helps lenders assess risk) by reducing debt, making timely payments, not shopping aggressively for credit, having a variety of credit instruments, and keeping at least one credit card for a long period of time. Make significant improvements in as few as six months.

Understand what you can afford
Most lenders require that total housing costs not exceed 28% of gross monthly income, and total debt payments per month (including the mortgage) not surpass 36%. In real terms, this means that if you owe no consumer debt and have a household income of $75,000, then $1,750 in housing costs is within your range.

Accumulate cash
If you don’t have at least some cash in your coffer, start a savings plan now. How much you will need depends on many factors, including the home price and how much you will put as a down payment. Closing costs, points, moving expenses, and a post-purchase reserve fund of two to three months worth of housing payments can add up to many thousands of dollars.

Once you own your home, you may eventually want a bigger or better living space. Rather than purchase a new residence, first consider remodeling. You can add rooms and customize your home to meet your needs and desires without having to move. Yet while remodeling can be wise, it can also be stressful and expensive. Be careful when hiring someone to do the work for you. A contractor you hire should:

Have a licence
Carry general liability insurance
Carry workers’ compensation insurance
Provide you with a written waiver at the end of the job
Guarantee work for at least one year from date of completion
Provide you with references
Be financially sound, so won’t declare bankruptcy in the middle of your project
Can provide proof that he or she has completed similar projects
Ensure that the price includes removal of all job debris and full clean up

So how are you going to pay for those fabulous improvements? There are three basic options: cash, refinancing, and using home equity.

Cash: If the job is small or short term, paying with cash is often the best method. A nice advantage of using savings is that you won’t have to repay a loan for the work that is done. When using cash, be sure to pay in agreed-upon increments.
Refinancing: Swapping a higher interest mortgage for a lower interest one can free up money for the project. You can refinance your existing mortgage and take all or part of your current equity in cash. Keep in mind though, that it will only be cost effective if you plan on remaining in the home long enough to recoup the closing costs and other fees associated with refinancing.
Home equity: Using home equity can be a great way to make major improvements – and get a tax benefit of interest deduction at the same time. To tap into your home’s equity, you can get a conventional second mortgage, a home equity loan, or a home equity line of credit. Second mortgages and home equity loans are best for large, long-term projects that require lump sum payments. Home equity lines are good for short-term projects or those requiring incremental payments.

Finally, remember that at home is not only where the heart is—it is also where the money is. You can get the most from your relationship with real estate by giving it the time and attention it requires, just like a marriage.

Visit our Real Estate Loans and Mortgage page to learn more about how you can get started today.

Provided by Balance.

July Anniversaries

We also have one more special anniversary in July. CXO John Moore is celebrating 5 years at the credit union. Read all about him, and how Xs and Os don’t just mean kisses and hugs here.

Richard Bighill – 22 years
What is your current position?
Richard My current position is Lending Support Clerk. My job is to help support the Lending Support Specialists, Lending Support Manager, and VP of Consumer Loans. My duties ensure that the others do not have to complete them while underwriting, processing, and funding loans.

What is something that working at WCU has taught you?
Something that working at WCU for 22 years has taught me is that it is very important to be part of the WCU family, and help support others.

If you could choose one new hobby what would it be?
I’m a huge Seahawks fan, so any new hobby would have to involve them. Maybe I’d become a sports photographer.

Sue Whitton – 11 years
What is your current position?
I am the Member Service Manager for the Vernonia Branch. In my position I oversee the front line operations. I believe the MC position is the most important contact for our membership. We start the relationship and help grow the membership through developing trust.

What is something that working at WCU has taught you?
Wauna has taught me how important it is to support the community. Wauna has a strong commitment to the community, and I am proud of being able to support Vernonia.

If you could choose one new hobby what would it be?
My hobbies currently are adjusting to empty nesting and It is going very well. Thank you!

Heidi White – 6 years
What is your current position?
I’m a Member Consultant. in the Clatskanie Branch. I assist our members with their every-day banking needs, as well as help them prepare for the future, whether that’s figure out the best way to save for a life milestone, or get a loan to buy a new car.

What is something that working at WCU has taught you?
Growing up in Clatskanie I felt like I knew everybody in the community, but working here has taught me how to figure out a way to build rapport with anybody. No matter if they’re from out of town, just out of school, or getting ready for retirement, people want to know that the person helping them is looking out for their best interest.

If you could choose one new hobby what would it be?
Can I pick two hobbies? I want to travel all over the world and do fun crafty things. Maybe my new hobby would be to have an international craft store.

Kristen DeForrest – 2 years
What is your current position?
I currently work as the Member Service Manager at the Astoria Branch. Previously I managed the branch inside the Astoria Safeway. I am passionate about building dynamic team of member consultants who are passionate about Wauna Credit Union’s mission and vision. It is important to me that we help members at every stage of financial success, but I especially enjoy helping youth with our jump start program.

What is something that working at WCU has taught you?
Working here has taught me that no matter how much you prepare you still need to be ready for things to change. That is something I am constantly helping our members with. We are here to help people deal with all of life’s milestones, whether they are planned or not.

If you could choose one new hobby what would it be?
I just started a new hobby! I have recently committed to supporting the Mariners Baseball. I’ve watched almost all the games this season, and hope to attend one this year with my family, including my daughter Claire, who is 6-months old-and much more than a hobby.

Lisa Clark – 1 year
What is your current position?
I’m the St. Helens/Scappoose Area Manager. My job is to supervise the deposit and lending operations for those assigned branches. I’m to coach and lead the Member Service Managers in those branches and to ensure that my branches are providing the highest quality member service. I also get to do business development, commercial lending and some public relations in Columbia County. All in all, I’m to ensure that my assigned branches are reaching their goals and are profitable.

What is something that working at WCU has taught you?
WCU has taught me so much, but one of the great things is that being yourself is really important. We’re taught to have real conversations with our members, and really listen to them to make sure we are helping in every way we can. Sometimes I go to other places and it’s like a robot is helping me. By being myself, I’m not only having fun, but providing great member service.

If you could choose one new hobby what would it be?
One new hobby would be to learn to play a music instrument. My whole family is musical and I’m the only one who can’t play an instrument. My kids say that the only thing I can play is the radio!

Meisha Boettcher – 1 year
What is your current position?
Member Consultant II. Which means I act as a teller doing transactions sometimes; I act as a loan officer other times. I can be a therapist or an auditor depending on the day. Every day has a new challenge and a new lesson. I really enjoy that aspect of my work.

What is something that working at WCU has taught you?
Meisha Fishing That everyone has a story and each one is important. Whether it’s a loan or a simple transaction, our interaction with that member is part of their day and part of their life. I’ve found it to be very enjoyable to be involved with people like that and get to know them over time.

If you could choose one new hobby what would it be?
I’ve always been in awe of aerial silks, I attempted a little in high school but I never went anywhere with it, I wish I would have. If I had the time and setup to do that, you bet I’d be in amazing shape and I’d be having a good time doing it.

Others

Carli Lyon
Jan Durie
Amber Alexander
McKenzie Lewis
John Kurns

Certificate or Money Market?

Are you looking to generate income from your savings? Why not have your hard-earned money get out there and work for you? Well, we can certainly help by getting you started in either a Money Market or Certificate account.

But how do you decide which is best for you? Certainly, each investment has advantages and disadvantages. By figuring out market conditions alongside your own financial circumstances, you can work to make the best decision to fit your needs.

What is a Certificate?

A certificate is a special type of deposit that earns dividend income. When you invest in a certificate, you are depositing your money into the credit union for a pre-determined length of time (often 1 year and up). At the end of that time, your deposit “matures” and you are returned your money with the additional dividend payment. Generally, (and this can vary) the longer you keep your funds in a certificate, the higher the yield. What’s more is that many folks don’t know these funds are federally insured by the National Credit Union Association (NCUA).

The catch: Should you need access to your funds earlier than the term agreed upon, you’ll likely pay an early withdrawal fee. You may even lose some or all of the money accrued.

What is a Money Market Account?

Money Market accounts are like savings accounts but often pay you higher rates. Like a certificate, they too are federally insured and so have very little risk. Money Markets usually require a higher minimum balance and while you can make withdrawals, the number of withdrawals you are able to make over a given time is restricted. Thus, they are less liquid than a checking account but more liquid than many other investments, for example.

The catch: If you are not planning on using the funds in your Money Market account, you may be missing out on a higher yield.

What are some of the differences between the two?

When you invest in a certificate, everything is pretty clearly defined from the get-go. You can calculate the expected earnings. You also know your fixed rate and how long you plan to tie up your funds.
It may be harder to plan long-term with a Money Market account, as the rates vary over time and the funds aren’t locked up for any particular term length. This makes calculating your investment results less clear.
With a certificate, the longer the term, the more likely you will receive a higher yield. This can be advantageous, should rates decrease as you are tied to a better rate. Of course, you won’t have immediate access to your funds for a longer period of time.
Money Market accounts are easier to access than certificates. Although, keep in mind that there are limits on the number of withdrawals you can make.
Both Money Market accounts and certificates are federally insured by the NCUA up to $250k.
With Money Market accounts the dividend rate is directly proportional to your deposit amount and not to maturity (as is the case with a certificate). That being said, Money Market accounts might make more sense to a larger depositor.

So which is right for me?

Each of these products have their benefits. However, if you’ve a higher cash balance but need quick access to your funds, a Money Market account might make more sense for you. On the other hand, if you don’t mind locking up your savings for a bit, then you may want to look into a certificate.

Clearly, we all have our own, unique financial situation. If you are looking into investing, it’s never a bad idea to get in touch with a financial advisor, or learn more on our website investment page.

Wauna Specialty Accounts: Certificate, Money Market, and IRA Accounts

A Career for Life

Wauna Credit Union’s Vision Statement is to be the financial institution that members choose first, use the most, and grow with throughout their lives. That’s an extremely important part of who we are, and how we make decisions. Everything we do is with a long-term outlook, even if it means giving a short-term loan to prevent long-term financial troubles.

There’s another philosophy that goes hand-in-hand with that, we also want to be an employer that people can grow with throughout their lives. Not only does it mean we can continue to serve our members by keeping our great employees, but we also provide opportunities for professional and career growth for those employees. Visiting the WCU Career page at waunafcu.org/about/careers will give you an idea of the type of jobs we have to offer.

Lidia Sanchez exemplifies the rewards of this philosophy. Lidia was a part-time Member Service Representative at the Safeway branch, and rejoined the credit union in 2016 as a Member Consultant in the Warrenton Branch after taking some time off when her son Asher was born. She quickly became part of the WCU community. When a position opened up in the Astoria Communication Center, Lidia took the leap and applied.

Lidia at desk — Helping our members always puts a smile on Lidia’s face

“It was hard to leave Warrenton,” said Lidia. “My coworkers and our regulars had become like family to me, but the position at the Communication Center was a great opportunity.”

“Lidia was always quick with a smile, and worked hard to deliver the service that our members expect at Wauna,” said her manager at Warrenton Loren, who herself has recently took on new responsibilities at the credit union. “We miss her, but we’re so glad to see her learn new skills and help even more of our members.”

Lidia quickly jumped in with both feet, learning the ropes and establishing herself as key member of the Communications Center team that helps members from all over the footprint. “In many ways working at the Communications Center is the same as working in a branch,” said Lidia. “We still have our regulars, but instead of seeing them face-to-face I get to talk to them on the phone. It’s fun to hear about the things that are going on in Clatskanie, St. Helens, Scappoose and Vernonia, in addition to the events going on out my front door in Astoria, Warrenton, and Long Beach.”

Lidia isn’t done moving up at the CU. We’re proud to announce that she is joining the Mortgage Team as a Real Estate Loan Processor, where she’ll assist members get a Strong Mortgage with WCU to buy their first home, build their dream home, or even help solidify their retirement by buying an investment property.

Asher getting a new account — Setting a good example for her son Asher helps Lidia stay focused.

Professional development isn’t important for Lidia just because of the increased job responsibilities, but the example it sets for Asher. “I want to show him what his mom can achieve by working hard,” said Lidia. “I look at the opportunities I can provide, and the example I can set for him, by showing him what he can achieve. Wauna has given me so many opportunities, and I look around and see so many more. I plan to be here a long time, and am so thankful I chose to apply two years ago.

If you’re interested in starting a career at Wauna there are many great openings right now.

Introducing Our New Podcast Wauna Talk

At Wauna Credit Union our mission is to provide opportunities for our members to build their financial well-being. That doesn’t just mean offering the best products with great rates, or offering the latest in technological innovations for our members. It also means educating people on how to manage, and grow, their finances, as well as providing tips on financial best practices.

That’s why we’re so excited to introduce the first episode of our podcast, Wauna Talk. Wauna Talk aims to provide a quick look at financial matters that affect members.

In the first edition Josh Rein (hey that’s me!) and Michael Murdoch discuss the new U-Banking platform. Take a listen, and don’t worry we’ll keep improving that audio quality.

June Anniversaries

Wauna Credit Union has been serving members of the towns and cities surrounding the Columbia River for 51 years. We’re continuing to grow (if you want to join us check out our careers page). Those who are into astrology say that people born in June are friendly, conscientious, full of great ideas, and always trying to do their best. We’re not sure if that is supposed to hold true for the people who celebrate Anniversaries in June as well, but we think so.

Jeannie Byrum – 2 years
What is your current position?
I’m an MC in the Clatskanie Branch. I grew up here, so it’s really rewarding to help my friends and neighbors, whether it’s something small like cashing a check, or something big like helping them get started buying a car, house, or starting a business. Jeannie being fancy and her fiance

If you could choose one new hobby what would it be?
Well right now I’m planning a wedding, so maybe being a wedding planner like J. Lo! Really though, I love doing things like floating down the Deschutes, hiking and camping. I’d make a great explorer.

Hugo Potts – 1 year
What is your current position?
I am a Lending Support Specialist, I assist our internal members with any questions they may have about vehicle, Personal, or Lifestyle loans. I also, help our mortgage department.

What is something that working at WCU has taught you?
At Wauna we participate in a program called The Member Advantage. It’s our approach to service that ensures we are listening to our members to learn what financial products will help them realize their financial dreams. These guidelines to listening well are tactics I use not only at work, but in my personal life too.

If you could choose one new hobby what would it be?
I would travel more and see the world! The first place I would visit is Japan.

Autumn Crawford – 1 year
What is your current position?
I am the intern for the operations team, I make sure that the mail gets done and help people in operations with whatever they need. I have been able to meet with all of the different areas(IT, accounting, HR, Lending, MC’s) in the company over the past year and I have learned so much about what each area of the bank does.

What is something that working at WCU has taught you?
This is my first job and I also did my senior project here, so what haven’t I learned. I think the biggest thing that I learned is teamwork. Everybody works together to get things done, nobody is ever too busy to answer a question you have or help someone else out.

If you could choose one new hobby what would it be?
This isn’t really a “new hobby” because I took lessons as a kid but if I had the time I would love to start playing piano again. To me music is really relaxing and I feel that out of the many instruments that I used to play piano is my favorite.

Others

Monica Lauber – 14 Years
Jacob Humphries – 4 Years
kerbie Belknap – 2 Years
Caleb Yankus– 1 Year

May Anniversaries

And if you haven’t had a chance to read about Debi Smiley, who has been with the credit union for 30 years. Read that post here.

Laura Wells – 6 years
What is your current position?
I’m an Accountant.. Much of my job is to review and balance the activity that our members and employees did the day before. I also monitor Wauna’s own corporate account daily to ensure we always have sufficient cash on hand. The credit union recently acquired a couple of ITMs (Interactive Teller Machines) that were installed in our Long Beach and Clatskanie branches. This new technology is innovative and exciting, but the balancing side of them is quite different from our normal ATMs, so figuring out all their quirks and the best ways to balance their GLs was one of the big projects I spent time working on over the past year.

What is something that working at WCU has taught you?
Working at Wauna has taught me a lot about teamwork. The credit union isn’t just comprised of a bunch of different departments and branches who never talk to each other, and in order for things to run smoothly and efficiently, everybody works together to make that happen! Laura Up high

If you could choose one new hobby what would it be?
If I had all the time in the world I can think of a lot of things I’d like to get into or pick back up, but with the weather turning beautiful again one thing I would love to get into gardening…without killing everything I touch!

Elizabeth Ziegler – 1 year
What is your current position?
I am a Member Consultant in the Scappoose Branch. My job is to assist members in every aspect of their banking like applying for loans, completing every day account transactions, setting up their online banking, and in general making sure everybody is have a great time being a WCU member! Elizabeth helping a member

What is something that working at WCU has taught you?
Working at Wauna has taught me to be diligent and a good communicator. Good communication is so important to how we relate to one another.

If you could choose one new hobby what would it be?
If I could choose one new hobby I would be a professional traveler. I’d love to explore the world. My goal would be to visit a new country every month. I’ve been to over 15 different countries so far.

Others

Loren Ames – 9 Years
Jennifer Clark – 2 Years
Devyn Osborne – 1 Year
Ashlee Gilbertson – 1 Year

Free Financial Education Webinars

Whether it’s helping you save for a house, make sure you have money for retirement, or just assisting in helping you meet your daily needs, Wauna Credit Union is here to serve our members, and ensure your financial well-being. One of the ways we do this is through financial education.

We have teamed with BALANCE Financial Education to offer our members six free webinars on a variety of topics to help you realize your dreams. Even if you can’t attend one of the free webinars, we have many financial education resources on our website, including;

BALANCE Education for adults

Elements of Money for teenagers

M3 Money Club for younger kids

JUNE — BASICS OF PERSONAL FINANCE
From managing daily expenses to investing for retirement, this webinar helps participants set personal finance goals, learn the basics of smart money management, and build a solid financial foundation for the future

Session 1: Tuesday, June 5, 2018
Time: 10:30 a.m. – 11:30 a.m. (PST)
Sign Up: https://register.gotowebinar.com/rt/730424653146013955

Session 2: Thursday, June 14, 2018
Time: 5:30 p.m. – 6:30 p.m. (PST)
Sign Up: https://register.gotowebinar.com/rt/730424653146013955

JULY — USING CREDIT CARDS WISELY
A credit card can be a valuable financial tool. However, before racking up big charges on multiple cards, participants should learn smart ways to handle their credit cards and take a disciplined approach.

Session 1: Tuesday, July 10, 2018
Time: 10:30 a.m. – 11:30 a.m. (PST)
Sign Up: https://register.gotowebinar.com/rt/9063245048060404227

Session 2: Thursday, July 19, 2018
Time: 5:30 p.m. – 6:30 p.m. (PST)
Sign Up: https://register.gotowebinar.com/rt/9063245048060404227

AUGUST — DRIVE AWAY HAPPY: CAR-BUYING DECISIONS
Getting a car can be overwhelming and stressful with all the decisions to make: new or used; buy or lease; zero percent financing or rebate (not to mention what color to pick). Participants will learn tips and tricks to have the best car shopping experience possible, while also making wise financing decisions.

Session 1: Tuesday, August 7, 2018
Time: 10:30 a.m. – 11:30 a.m. (PST)
Sign Up: https://register.gotowebinar.com/rt/3263578497262937603

Session 2: Thursday, August 16, 2018
Time: 5:30 p.m. – 6:30 p.m. (PST)
Sign Up: https://register.gotowebinar.com/rt/3263578497262937603