Info Center

FAQs

Have a question about any of our services? You may find the answer here. If you can’t find the answer you’re looking for on our web site, please contact us by e-mail members@dutrac.org, by phone at (563) 582-1331, or 1-800-475-1331 or visit any one of our 10 convenient locations. We’ll be happy to assist you.

Home Loan FAQs

Where can I get basic, straightforward home-buying advice on the web?

You've come to the right place. Your credit union is proud to present CU Mortgage Online, a resource for our members when entering the home-buying market. Basic information can be found in our 'Advice' section, with new articles being added regularly. Our comprehensive glossary will define the basic and not-so-basic terminology that is frequently used in mortgage lending. And, of course, we are always open to your content suggestions. What would you like to see? Let us know, and then visit us often, as we intend to continually grow this useful member resource.

At what stage of the home-buying process should I visit my credit union?

It is best to visit your credit union's mortgage department before you even begin to shop for that new home. A basic pre-qualifying exercise will give you a feel for how much home you can afford. Mortgage Pre-approval will take this one step better, and will not only provide you with affordability information, but also will give you a leg-up in the negotiation process. There is no doubt that a buyer with guaranteed funds has more leverage in a negotiation than one who is still waiting to hear back from their lender.

What is a first mortgage?

A first mortgage is exactly what it says it is - the first loan on a certain piece of property. No other lien has been taken out on this home. When you first buy a house, the loan you typically receive is a first mortgage.

What is a second mortgage?

A second mortgage is also what it says - the second loan against a specific piece of property. Consider this example: Let's say you have a first mortgage on your home. The value is $100,000 and you have a $60,000 balance left to pay on your loan. The $40,000 difference is considered equity, or the part of the home that you own outright. If you wish to further borrow against that $40,000, you would be taking out a second mortgage on the home in order to do so. Why borrow against this equity? In many cases, the interest rate you pay on your mortgage is lower than many other types of loans. Interest is also frequently tax deductible for a first or second mortgage, but not necessarily for a car loan or a credit card. (Consult your tax advisor for more information on tax deductibility and home loans.)

What does it mean to 'sell my mortgage on the secondary market'?

Fear not - This phrase is not nearly as ominous as it sounds. Frequently, your credit union can get you an extremely competitive rate on the secondary market. This is simply a network of large mortgage lenders that work with the credit union to deliver low rates to borrowers. If the member chooses, they can finance their home loan with a secondary market lender, and can do so through the credit union. The credit union may technically hold the loan for a very short period of time before 'selling it' to this other lender. The member often makes their loan payments to and receives loan servicing from this secondary market lender.

What do I need to bring to my mortgage loan application?

The following is a list of the recommended documents to bring to your mortgage application:

Most recent 2 years W-2 forms
Original pay stubs for the most recent 30-day period
Most recent bank statements
Copy of the purchase agreement and earnest check if buying
If self-employed 2 years of tax returns and all schedules
If a first time homebuyer in Iowa 3 years tax returns

PC BRANCH FAQs

What do I need to use PC Branch?

To use PC Branch, you need a PC or MAC with access to the internet and a browser such as Netscape Navigator (version 8.0 or higher), Microsoft Internet Explorer (version 6.0 or higher), or Mozilla Firefox.

How should my browser be configured?

Before you log-in, it’s important that you configure your browser to ensure the security of your PC Branch transactions.

Please review our Requirements page for further details. Due to an issue acknowledged by Microsoft, having Content Advisor enabled can cause problems with secure sites. If you are having problems logging into PC Branch, please make sure that your Content Advisor is disabled. Go to Tools, Internet Options - Select the Content tab and click on disable under Content Advisor.

What security measures are used in PC Branch?

Several security measures are used.

Encryption Technology. PC Branch uses powerful encryption, which prevents monitoring of your account or transactions as you use PC Branch.

Personal Identification Number (PIN). PC Branch requires you to enter your PIN each time you sign in. For added protection you can change your PIN, further ensuring nobody else can access you account. Remember to change your PIN frequently and memorize it. Never write it down where it could be found and never give it to anyone else.

Limited Sign-In Attempts. If after 3 attempts you are unable to sign in, PC Branch will automatically lock out your account to Internet access. You need to contact a Financial Services Consultant to regain access.

Firewalls. Advanced Firewall protections are also in place to secure PC Branch from non-authorized users.

Timed log-out. After 10 minutes of inactivity in PC Branch, the system will automatically log you out, but you can log back in as many times as you wish. This ensures your security should you leave your PC without fully exiting PC Branch.

What should I do if I get locked out of PC Branch?

Contact a Financial Services Consultant at (563) 582-1331 or (800) 475-1331. They can unlock your account and change your password, if needed. For your protection, you may have to answer some questions for identification purposes.

What should I do if I forget my password?

If you forget your password, simply contact a Financial Services Consultant at (563) 582-1331 or (800) 475-1331. They will give you a temporary password, which will allow you to sign on the PC Branch and assign your own password.

What should I do if I can sign in, but the system will not show my account balance?

Be sure to check the setups of your browser. PC Branch requires Java and Cookies be enabled in your browser setup.

Where is my credit card information?

The only credit card information available on PC Branch is your current balance. For detailed information about your credit card account you need to enroll in mycardinfo. “Mycardinfo” allows you to view current activity, past statements and much more.

When I make a transfer how soon will my new balance appear?

After you make a transfer on PC Branch, a confirmation screen will appear and will show your new balances in the “Available” section. Your new balance becomes effective immediately.

I got logged off just as I was making a transfer, was the transfer completed?

To ensure the transaction was completed you should log in again and view the Account Summary or the History screen.

Why can't I transfer to my spouse's/children’s account(s)?

Transfer to other accounts is available providing two items are in place. First, you must be a joint member on the account you want to transfer to. Secondly, you must request this access be set up. To request this service contact a Financial Services Consultant at (563) 582-1331 or (800) 475-1331.

Is there a fee for PC Branch? If I do certain things on PC Branch, is there a fee?

PC Branch is a money saving, time saving, convenient product offered by DuTrac Community at no charge. There are no fees charged for having PC Branch, however some of the services performed or requested though PC Branch may have a fee associated with them. (ie. Stop Payments on checks)

Can I e-mail staff with question?

Yes. Simply send your question to members@dutrac.org and someone will reply as soon as possible. For security purposes we cannot e-mail specific account information. Should you have questions about your account you should speak with a Financial Services Consultant at (563) 582-1331 or (800) 475-1331.

Can I use my AccessLine/SecureCard PIN to access my account information online?

No, you must use the password sent to you for PC Branch to initially gain access. Once in, you can then change the password to a code of your choice, as long as it falls within our password guidelines. To do this, go to the “Other Services” page and select “Change Password.”

What are the guidelines for selecting a password?

Your password must be 8-16 characters long and must contain alpha and numeric characters. When changing your password you will also see a list of restrictions associated with password selection.

Will I get a receipt for my transfers?

All transfers will be confirmed on screen, and will appear on your regular statement. In addition, your transaction will appear in the History section in PC Branch. Only loan advances will receive receipts.

Why can't I transfer to my IRA?

IRA transfers require special handling per IRS regulations and currently cannot be made through PC Branch.

I didn't change my browser setting before entering, will this cause any security concerns?

No, the browser settings will affect the look and feel of the screens on PC Branch only. The same high level security and encryption is in place at all times.

When I make a transfer from my savings account(s) I see a message about Reg D, what is that?

Regulation D is a federal regulation that limits the number of transactions done in a savings account online or by telephone, among other things. You are allowed 6 non “in person” transactions a month. There is no limit to the number of transactions you can do in person.

MobileLink FAQs

What is MobileLink?

MobileLink gives DuTrac members the ability to use their browser enabled PDA (examples are ipod touch, blackberry, etc.) or browser enabled phone to view their account balances, make transfers, or pay a bill.

What does a member have to do to access MobileLink:

A member may either type in DuTrac's url "personalbranch.dutrac.org" or go to DuTrac's www.dutrac.org website and click on "mobile banking". DuTrac's website senses what type of browser the member is using and if it detects a PDA or smartphone, then it automatically redirects them to DuTrac's mobile website.

Does a member need to sign up or be enrolled for MobileLink?

If a member is enrolled in PC Branch then they can automatically use MobileLink. Members will use the same passward and MFA information for their login. All security used is the same as PC Branch.

What functions are available?

A member can view their account balances, make transfers, or use BillPay. They also may manage their PC Branch account, updating e-mail addresses and passwords.

I do not have a PDA or web enabled phone, so how can I see what this looks like or how it works?

You can click on the following link: https://personalbranch.dutrac.org/mobile and click "sign in". You will then use your PC Branch login, password, and MFA information. Please keep in mind this was intentionally designed to be less feature-rich in order to make it practical for the slower link speeds on a PDA or smartphone.

BillPayer FAQs

What is BillPayer?

BillPayer is an electronic service that allows you to pay bills through our PC Branch. With this service there is no more writing checks or mailing in bills.

How do I enroll?

First, you must sign up for PC Branch and you must have a checking account with us.

If you have used PC Branch in the last six months, you can go to your PC Branch page and click on the "BillPayer" button (see How Do I Get Started for detailed information).

Whom Can I pay?

Any individual or company you choose. For example, your utilities, mortgage, rent, paperboy, babysitter or any vendor you choose. The only exceptions are any government agency, collection service, or company with an address outside the United States of America. Child support, alimony and maintenance payments are ineligible as well.

How does it work?

It’s easy! Schedule either a one-time or recurring payment requests through a DuTrac Community Credit Union checking account. On the scheduled payment date, your payment is processed by the Credit Union and is submitted to the payee the following day. Payments are made electronically to the vendor whenever possible. If the payee does not accept electronic payments a check will be issued. Please note that payments are not processed on holidays or when the credit union is closed.

Which account can I use with BillPayer?

BillPayer can only be used in conjunction with your DuTrac Community checking account.

How do I get started using BillPayer?

Once you have enrolled, the first step is to setup your payees. We already have a Master Payee List of payees for you to choose from, or you may create your own if your payee is not in the Master Payee List.

How do I set up payees?

First, click on the "Payees" button in the BillPayer section. Second, click on the "Find Payee" or button to search through our Master Payee List and find a payee to add to your Personal Payee List. If you do not find the payee you are looking for in the Master Payee List, try to use variations of the name. Also, check the billing address to make sure it is the same one used in your billing area.

If your payee is not on the Master Payee List or the address does not match your payee, you will need to add the payee in the "Add Payee" section. When creating a new payee, all fields must be completed. The only exceptions are the "Attn:" field and the "Ext." in the "Phone" field. If you fail to input information in all of the required fields, your payee will not be set up and you will not be able to make payments to this payee. Once you have set up a payee in the "Add Payee" section you will need to wait up to five business days before scheduling a payment. This allows our payment processor to verify your information. Please note that this five business-day delay is only imposed once per new payee that you create. If you select a payee from the Master Payee List, you may begin setting up payments immediately.

If the payee has the same name, does it matter that the payee has a different billing address than the one I usually use when sending my payment?

Yes! The payee that you select from the Master Payee List must have the same address as the address on your payees invoice/statement. If you select a payee with a different address, it could be an entirely different company, or a different office/department that has no ability to apply your payment to an account that they don't recognize. If the name of the company and the address don't match, you should add the vendor and all information yourself under Add Payee. If you have any address questions, call the payee to verify the information.

Once I enroll, how soon can I start to make payments?

If you set up a "New Payee", you must allow five business days before you can begin scheduling payments to that payee. This allows our payment processor enough time to verify payee information before the first payment is sent.

Do not wait until you are ready to pay bills to set up new payees. If your payee is on the Master Payee List, you may begin to make payments immediately.

What is the difference between a recurring and one-time payment?

One-time payments are payments that are not the same dollar amount each month, or are not due each month at the same time or will only be due once. Recurring payments are for bills that are due at the same time each month for the same dollar amount.

How are my bills paid?

BillPayer payees can be paid by either CHECK or ELECTRONIC transfer. To verify which method your payee uses, look at the "Payment Method" column in the Payees section.

What is the difference between a bill paid by "Check" and one paid "Electronically"?

A "Check" payment is a paper draft sent though the US Mail system. You must allow sufficient time for the payee to receive this type of payment just as if you were mailing the payment yourself. An "Electronic" payment is sent out electronically and is the preferred payment method; however, some payees are not able to accept this type of payment. "Electronic" payments clear within two to three days.

When are my bills paid?

At approximately 10:00 AM on any given business day, all payments scheduled for that "Payment Date" will be collected and deducted from the appropriate accounts, processed and sent to our bill payment processor. Based upon the Payees preferred method of payment, our processor will either send payment to your Payee electronically or will cut a paper check to mail to your Payee. Please note that payments are not processed on holidays or when the credit union is closed.

Is there a maximum amount I can pay?

Yes, the maximum amount for a single payment is $9,999.99. If you need to make a payment to a vendor that is larger than this amount, you must split the payment into two payments.

How do I check my payment status?

It’s easy to check on the progress of your payment. In BillPayer, click on the "Payment History" button and check under the column entitled "Status".

Explanations of terms are as follows:

IN PROCESS - Payment was deducted from your credit union account and submitted for processing.
CHECK SENT - The payee accepts only check payments. A check has been forwarded.
E-PAYMENT SENT - The payee will accept an electronic payment and it has been processed.
CHECK CLEARED - The check has been received and processed by the payee/payee.
INSUFFICIENT FUNDS -Your credit union account did not have sufficient available funds to process the payment. The payment was not processed.
PAYMENT ERROR - An error has occurred during transmission. The credit union will review for processing.

What if my account number doesn't work?

Occasionally an account number you enter will be rejected as incorrect despite being entered by you correctly. This occurs only if you are using the Find a Payee database when setting up a payee. In order to resolve this, simply use the Add a Payee field and enter the payee information, including address and account number on your own. The payee will be added to your personal payee listing.

I made a payment to a Payee through BillPayer and it has not been credited to my account. What can I do?

Use the following steps to verify the status of a transaction:
In BillPayer, click on the "Payment History" button and check your history to ensure that no errors have been made during the payment setup process. Also, under "Payees" verify the account number, billing address, etc.

Make sure you have waited eight (8) business days.

Contact the Payee directly to inquire if your payment has been received.
If this does not resolve the issue, you may contact DuTrac Community via e-mail at members@dutrac.org or by telephone at 563-582-1331 or 1-800-475-1331.

How long will it take for a merchant to receive my payment?

On average, allow two days (Monday-Friday) for electronic merchants and seven days (Monday-Friday) for those merchants paid by paper check (for those unable to receive electronic payment). Saturdays, Sundays, and Holidays should not be counted when estimating payment dates. Your Personal Payee List will show whether a merchant is receiving payments electronically or by a check in the mail.

Please remember that DuTrac Community Credit Union cannot control the delivery of payments by the post office or the posting schedule of the merchant (when the payment is actually credited to your account).

What if I need a copy of a check?

You will need to call DuTrac Community at 563-582-1331 and speak with a Financial Service Consultant to inform them of your request. Your account will be charged a fee for the check copy.

How is BillPayer different from Bill Presentment or ACH Debit Origination?

BillPayer is different fro other products such as Bill Presentment and ACH Debit Origination in that it keeps member's in control of their bills and when and if they are to be paid. It is the members responsibility to designate the date and amount to paid because payees will not directly take the money from the account the day it is due.

*Payees addresses and method of payment may automatically be changed. The reasoning for this is that we will continuously update the payees with the most accurate information and attempt to streamline the payment process for you. When the payee was originally being paid via check, we may automatically convert the address so that we may now make the necessary payments electronically.

Checking FAQs

What types of checking accounts do you offer?

We offer four types of checking accounts to meet our member's needs. We have our Relationship Checking account, our EcoPlus Account, our Value Checking account and our High Yield Checking account. Whichever account you choose, you'll receive important extras, such as 24-hour access by phone, computer or ATM, and convenient branch access. Finding the right checking account to best suit your lifestyle and financial needs is easy at DuTrac Community Credit Union.

How do I open a checking account?

You can open your checking account online or stop in to any one of our 10 convenient office locations.

Is there a monthly service fee?

No, none of our checking accounts have monthly fees.

Is there a per check charge?

On our Relationship Checking account, if you write more than 40 checks per month, the charge per check is $.10 each for those over 40, with our High Yield checking account, if you write more than 20 checks per month, you will be charged a $.10 per check fee over 20 and with our Value Checking account you can write as many checks as you would like at no charge.

Is there a limit to how many checks I can write in one month?

There is no limit to how many checks you can write, however, on the Relationship Checking account, if you write more than 40 checks per month, you will be charged $.10 per check over 40. On our High Yield checking account, if you write more than 20 checks per month, you will be charged a $.10 per check fee over 20.

Is there a minimum balance required?

There are no minimum balance requirements. On our Relationship Checking account, you can earn dividends on your account when you maintain an average daily balance of $1000. On our High Yield Checking account you will earn dividends on your account when you maintain an average daily balance of $2,500 or more. Balances that are kept over $10,000 will earn even higher dividends.

Does my checking account earn interest?

Yes, the Relationship Checking account offers you dividends if you maintain an average daily balance of $1000 and our High Yield Checking account offers you dividends if you maintain an average daily balance of $2500 or more. Balances that are kept over $10,000 will earn even higher dividends.

What is the minimum deposit to open my checking account?

$25.00

Will I receive an ATM card for my checking account?

Yes, you can receive a SecureCard ATM card immediately upon opening your checking account.

I don't like writing checks; do you have a debit card?

Yes, with a checking account you can be issued a CheckCard Plus, which is our debit card.

Can I make deposits at an ATM?

Yes, you can make deposits in the state of Iowa using our SecureCard ATM card or CheckCard Plus debit card.

How long does it take to receive my checks in the mail?

Approximately seven to ten business days, depending on the United States Postal Service.

What is my checking account number?

Your checking account number, in most cases, will be your share savings account number with a "9" added at the end. Your checking account number can be found on the bottom of your checks. It will be the middle set of numbers.

Do you offer overdraft protection?

Yes, we offer overdraft protection on all of our checking accounts with a line of credit or funds can be transferred from your savings account to cover an overdraft.

How can I get direct deposit of my paycheck or Social Security check?

To have your funds directly deposited into your DuTrac Community checking account, contact your personnel or payroll department at work. If you receive Social Security, SSI or other Federal recurring payments, call your local Social Security Administration or contact a Financial Services Consultant at members@dutrac.org or call (563) 582-1331 or 1-800-475-1331 to have the necessary forms filled out.

How can I get account information including balances, checks paid, and deposits cleared?

DuTrac Community's online services offer you a choice of convenient ways to do your financial business with us. You can access account information, transfer balances, or pay bills any time of the day or night with our flexible services, including PC Branch, BillPayer, AccessLine, SecureCard and CheckCard Plus Debit ATM access. You're never more than a phone call or click away from 24-hour access to your account information.

What are your branch and ATM hours/locations?

Click here for the nearest location and their hours and here for the closest ATM locations.

Security FAQs

I'm hesitant about banking online. Can other people see my account information?

Your account information is just as secure as it is at your credit union branch. We've taken every step possible to be sure our system meets the latest security standards, including using the newest version of security encryption methods and software.

What about filling applications out online? How secure is that?

Filling out applications online is as secure as the Internet Banking System. Your entire session, from beginning to end, is encrypted. Our system supports 128-bit encryption, so you must use the latest browser from Netscape or Microsoft that supports this security level. In fact, the highest encryption Netscape and Microsoft browsers support today is 128-bit, so you will be using the highest bit encryption currently available.

What kinds of security are available to Internet users?

There are two major types of security available: encryption and firewall.

What exactly is encryption, and how does it makes everything more secure?

Encryption is basically a way to rewrite something in a code that can then be decoded later with the right key. The encryption we use employs a mathematical process for the key that is made up of a certain number of bits (hence, 128-bit encryption). The higher the number of bits, the better the encryption. While using our Internet Banking System, all communication from you to the system and from the system to you is encrypted using a maximum of 128 bits. In other words, when you input information to the system, your browser encrypts it using a 128-bit key, and then sends it to the system. The system decodes the information using the same key (which is predetermined when your Internet Banking session is started) and processes it.

What about information that is stored? Is it encrypted as well?

Information stored on our system is also encrypted using at least 128 bits.

What is a network firewall?

A firewall is a system or group of systems that enforces an access control policy between two networks. The firewall can be thought of as a pair of mechanisms: one that exists to block traffic, and the other which exists to permit traffic.

Why would I want a firewall?

The Internet is plagued with people who enjoy the electronic equivalent of writing on other people's walls with spray paint, tearing their mailboxes off, or just sitting in the street blowing their car horns. Some people try to get real work done over the Internet, and others have sensitive or proprietary data they must protect. Usually, a firewall's purpose is to keep the people out of your network while still letting you get your job done.

What can a firewall protect against?

Some firewalls permit only E-mail traffic through them, thereby protecting the network against any attacks other than attacks against the E-mail service. Other firewalls provide less strict protections, and block services that are known to be problems. They are also configured to protect against unauthenticated interactive logins from the "outside" world. Firewalls are also important since they can provide a single "choke point" where security and audit can be imposed. Unlike in a situation where a computer system is being attacked by someone dialing in with a modem, the firewall can act as an effective "phone tap" and tracing tool.

What can't a firewall protect against?

Firewalls can't protect against attacks that don't go through the firewall. Firewalls can't protect very well against things like viruses. There are too many ways of encoding binary files for transfer over networks, and too many different architectures and viruses to try to search for them all.

e-Statement FAQs

How do I know when my e-statement is ready?

DuTrac Community Credit Union will send you a monthly e-mail letting you know when your e-statement is available.

Do you send the e-statement right through e-mail, that doesn’t seem very secure?

No, DuTrac sends you an e-mail alert letting you know the e-statement is available. You then need to log in to PC Branch to view the actual statement.

Is viewing an e-statement safe from hackers, phishers, and skimmers?

Yes, there are several security measures used with PC Branch, which is where you view your e-statement.

Encryption Technology. PC Branch uses powerful encryption, which prevents monitoring of your account or transactions as you use PC Branch.
Personal Identification Number (PIN). PC Branch requires you to enter your PIN each time you sign in. For added protection you can change your PIN, further insuring nobody else can access you account. Remember to change your PIN frequently and memorize it. Never write it down where it could be found, and never give it to anyone else.

Firewalls. Advanced Firewall protections are also in place to secure PC Branch from non-authorized users.
Timed log-out. After 10 minutes in PC Branch, the system will automatically log you out, but you can log back in as many times as you wish. This insures your security should you leave your PC without fully exiting PC Branch.

How long do I have to view an e-statement?

You are able to view e-statements for a period of 24 months.

Is there a way to save the e-statements past the allotted time of 24 months?

The e-statements themselves cannot be directly saved from the web site. The e-statements can be printed to your home computer. If you have a PDF printer installed on your computer you can print them to a PDF file and have it saved to your computer. One example would be PrimoPDF, which is a free download off the internet.

When I receive e-statements if I print those statements from my own computer will they print in the same format (have the same look) as the statements I would receive from DuTrac?

If you print e-statements from PC Branch, there are two options to view and print.

1. View and print as text gives you a plain text version of your statement.
2. View and print as image gives you an exact reproduction of what you would receive in the mail.

Can we always get a copy of our statement if our computer crashes and we have saved our statement on it?

Yes, you can go back 24 months on PC Branch to view your e-statements. If you are in need of a statement that is older than 24 months, you can always contact DuTrac and get you a copy. A small fee may apply.

What happens if I change my e-mail address or internet provider?

You would still be able to access your e-statement by logging in to our secure PC Branch. You will be able to conveniently change your e-mail address while logged in to PC Branch.

Auto FAQs

Where can I get basic, straightforward car-shopping advice on the web?

Look no further. Your credit union is proud to present CU Auto Online, a resource for our members when entering the car market. Basic information can be found in our 'Advice' section, with new articles being added regularly. As always, we are open to your content suggestions. Check back often, as we intend to continually grow this useful member resource.

Why get my car loan at a credit union?

Nationally, credit unions are among the most competitive vehicle lenders. We're not-for-profit, so our focus is on member service, not the bottom line. That allows us to typically offer lower loan rates and fewer fees than the competition. We're also owned by the very members we serve, so you know you'll be treated like more than just a customer. You are an owner, and it is our goal to make you feel that way whenever we can.

At what stage of the car-buying process should I apply for my loan?

Though you can wait until the very last minute to apply for a vehicle loan, your best bet is to visit your credit union before you even begin to shop. The application process will give you a clear idea of just how much you can afford. Armed with this knowledge, you likely won't get talked into a vehicle that's out of your price range. If you have your auto loan pre-approved, you can often save yourself a return visit to the credit union. Ask your loan officer for more information about auto loan pre-approval.

Is applying for a loan on my credit union's website safe?

Absolutely. Your credit union uses state of the art encryption technology to ensure your loan application and personal information remains secure. Upon retrieval of this information, we will handle your web-application with the same confidentiality we administer to all personal documents.

The credit union's loan rate is lower, but other financing gives me lower monthly payments. Why is that?

It could be for any number of reasons; you are probably getting a lower monthly payment because you are stretching out the term of the loan. (ie: You are making more payments over the life of the loan) Before getting sold on a lower monthly payment, compare apples to apples. There may be some serious downsides to a loan that on the surface looks unusually affordable. …And be sure to investigate the payment-lowering options at your credit union - Chances are, we have an option that will fit your budget, and won't beat you up in the long run.

What does the phrase 'upside down' mean when referring to owning a car?

A borrower is 'Upside Down' on their auto loan when they owe more than the vehicle is worth. This typically happens in the early months of a loan, especially when little or no down payment has been made. One of the key disadvantages of being upside down comes from an insurance perspective. If your vehicle is totaled, your policy may only cover the worth of the vehicle, and not necessarily the full balance of your loan.