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Consolidated Federal Credit Union

January 9, 2012

Consolidated Federal Credit Union

consolidated federal credit union

The Consolidated Federal Credit Union is a non-profit independent organization that is based out of Portland Oregon, dedicated to providing their clients with the highest quality financial serivces and soulutions. CFCU offers a host of different services, those of which include:


  • Saving For College – A Coverdale Education Savings Account is offered by Consolidated Federal Credit Union which allows one to put up to $2,000 a year into the account that goes towards paying the beneficiaries college tuition and other related expenses.
  • Personal Wealth Management – Consulting services are provided for a host of different wealth management related issues, where the Consolidated Federal Credit Union acts as your “chief financial officer”. Some of these include; retirement, major financing, taxes, acuiring real estate, charity among others. This section also includes “Investment Management” which offers services such as; customized portfolios, options for stocks, management of discretionary assets, stategies for tax efficiency and more.
  • Retirement Accounts – Retirement accounts are offered through an Individual Retirement Account, which consultation is given to help one maximize their retirement savings.

Home Loans

  • Home Equity Loans – Offering 15 years loans with, with zero fees for set up, low interest rates, repayment plans that are flexible and more. Auto equity loans are also offered.
  • “Free Pre-Qualifications – Offering online applications to get pre-qualified.
  • Loan Products – This Consolidated Federal Credit Union service is for the purpose of finding out which financing product will suit your mortgage needs.

Auto Center

  • Credit Union Direct Lending – This service allows you to attain financing for your new car expenses, which members of CFCU will enjoy the highest privelages like the best rates.

Credit Cards

  • Identity Theft – Being that identity theft has been on the rise, the Consolidated Federal Credit Union gives tips that help one avoid becoming a victim of identity theft.
  • Verified By Visa – This service is geared towads providing Visa card holders with protection when using their card to purchase anything.
  • Tranfer Rebate – A 1 percent rebate if one transfers their balance to a credit card offered by CFCU.
  • Community Donation – Consolidated Federal Credit Union donates a certain amount, every time one makes a transaction with one of their issued credit cards, which the donation goes to SOLV.

Business Services

  • Visa Green Card – Offering the Visa Green and Visa Classic cards that come with low interest rates, zero annual fees, complimentary insurance for car rentals, balance tranfer incentives and more.
  • 401 K Plan Services
  • Business Savings Accounts – Offered in this section are a myriad of different accounts all of which provide preperation for “unexpected emergencies.
  • Commercial Real Estate Loans – These loans offered by Consolidated Federal Credit Union offer terms for financing that are flexible as well as zero repayment penalizations.
  • Quickbooks – A software which allows on to enjoy transaction downloads.

More Loans

  • Their more loans section is just how is sounds, which a host of different loan services are offered that include; recreational vehciles, student lending programs, differentiating between a personal line of credit and a personal loan and current personal loans.

There are two Consolidated Federal Credit Union locations,  where you can visit if you are interested in consulting with one of their professionals about any of the services above. The locations include:

NW Portland
2055 NW Savier
Portland, OR 97209
(503)  226-4991

NE Portland
2021 NE Sandy Blvd
Portland, OR


Credit Card Counseling Debt Consolidation

January 2, 2012

Credit Card Counseling Debt Consolidation

Credit card counseling debt consolidation can be your saving grace in getting out of debt. Good news is that both debt consolidation and credit card counseling most always go hand in hand, as when you work with a consolidation company they have highly training credit specialists which who assist you in creating a plan of attack to get you out of debt. Besides consolidating your credit card debt, debt counselorscredit card counseling debt consolidation can also assist you in managing your debt, so you don’t end up in debt again.


Credit Card Counseling Debt Consolidation Methods

For the most part credit card counselers will assist you in understanding 3 different forms of credit card consolidation, those of which include:

  1. Consolidating On Your Own – You can consolidate your credit cards all on your own by making a tranferring all of your debts to a credit card which requires you to pay a lower interest rate than you are paying on all of your other cards.
  2. Consolidation Negotiation – Credit card counseling debt consolidation professionals can actually reduce your entire amount of debt by as much as 60%, and get you compeletely out of debt in as little as 10 to 25 payments. This is done by communication between both your credit card companies as well as the counselers, where a lower interest rate as well as debt total is attempted to be decreased, creating a much more suitable payment plan for the one in debt.
  3. Consolidation Loan – Credit card counseling debt consolidation can also be done by taking out what is called a “consolidation loan” through a company, which comes in the form of a secure loan which are known to have lower interest rates, which will enable one to to have much lower payments as well as pay a lot less over the life of the repayment. These sort of loans for the most part require that you put up “collateral”, which is something valuable like for example a car, which if the loan payments are not paid, then the collateral is taken from the person paying off the debt.

These are the main types of consolidation methods that credit card consolidation counselers will propose, but there are other form of debt relief that are offered by credit card counseling debt consolidation companies like debt settlement and debt management programs (DMP). The goal of the counseler is to find out what method of debt relief is best for your personal debt situation.

Credit card counseling, at the end of the day should be used by those who are having serious trouble paying their credit card debt off, which the minimum payment is only covering the interest that you have to pay, and not going towards paying off your debt total. Debt consolidation counseling will enable you to work with a professional who is dedicated to getting you better terms and out of debt a lot faster, instead of going into the debt consolidation process yourself without proper education, which can add more insult to injury.


Credit Card Settlement Methods

December 15, 2011

Credit Card Settlement

Credit card settlement is one of the best credit card debt eliminations known to man. You can literally wipe out your debt with one payment, which can be as lower as 50 percent less than what you originally owed in the first place. Now the words credit card settlement can bring images of having to go through a settlement company in order to get the settlement process started, but this doesn’t have to be the case. You can actually negotiate a settlement with your company, especially during times when you are having trouble paying and/or not paying at all. Credit card companies actually like dealing with you, the direct source, rather than going through a middle man, as well as are willing to cater to your situation if it has anything to do with wiping out your debt.

credit card settlement

But this situation is a kind of “grass is always greener on the other side” situation, as unfortunately when you pay off your debt, it will come up on your credit score as paid off, but not ”paid as agreed”, which will have a negative affect on your credit score. But if you are not paying at all, you might as well take the hit on your score with settlement, instead of not paying each month and your credit score slowly creeping down.

Credit Card Settlement Companies

Now the above credit card debt settlement negotiation method is the best way of settling debt, which it can come in handy if you happen to have enough money settle your debt with your creditor(s), but often times debt totals get out of hand, and a complete payoff is pretty farfetched. If you still want to enjoy the beneifts of credit card settlement, but doing it your self is not an option, you can employ the likes of a credit card debt settlement company.

When a settlement company settles your debt, they do it by negotiating lower debt total for their customers, which then they will pay off for you, then you will start paying monthly dues to the settlement company. The great parts about it is that you will be paying on a much lower debt total than the original as well as paying on only one lump sum instead of multiple payments, the negative part is that these companies often times charge you with large activation fees, or monthly fees for service. But settling your debt through a settlement company can take up to a year, which you will contiue to get calls and notices about not paying, which it is suggested that you pay the minimum during this time, until your debt is negotiated.

Using credit cards settlement can be a great way to; get out of debt faster and cheaper, stop late fees and interest charges from accumlating on your debt total as well as avoid bankruptcy. It has negative aspects, but the positive aspects out weigh the negatives for those that are in a desperate situation.

If your debt is way out of hand, then hiring a lawyer to do your credit card settlement may be the best option.

You can also consider using credit card consolidation which is a great debt settlement alternative, which you can learn more about the consolidation process by clicking the following link: Credit Card Consolidation.

If you are looking for payoff methods that allow you to get out of debt by yourself and fast, visit the following link which has 7 different debt elimination methods: Eliminate Credit Card Debt.


Eliminate Credit Card Debt – 7 Methods

December 15, 2011

Eliminate Credit Card Debt

Credit card consolidation, credit counseling and setting up a budget can be excellent tools to use when setting out to eliminate credit card debt you have, but there are other ways that you can use that can help you pay it off without having to use a settlement or consolidation company, as these companies are in business to keeping you in debt longer so you pay more interest. If you are looking for credit card debt elimination methods that actually work, look no further as well have 7 ways to do so right below!

eliminate credit card debt

  • Save For Retirement – Now this isn’t your traditional save for a rainy day tactic, it is applicable to getting your out of debt fast. When you save for retirement you get excellent tax write offs which you can use as funding to eliminate your credit card debt, as well as use the funds you saved to pay it off as well if you so choose.
  • Debt Transfer – Consider tranfering your debt to a card that has low or no interest, or just lower interest than what you are paying on now for a certain period of time, which the time period is usually up to a year. During this short period of time, this is where you buckle down and pay big on the debt, either eliminating the credit card debt for good, or leaving just a small amount left for you to pay off which you can easiily knock out after the low interest period is over. These are also referred to as balance transfers.
  • More Than The Minimum – The minimum payment has two sides to the coin, where the good part about it is that you can afford it with ease, the other side is that it is designed to keep you in debt for the longest period of time. Paying more than the minimum will both pay off your debt faster, as well as pay less in interest. The power of paying more than the mimimum can be proven evident by using a minimum payment calculator and putting in a higher minimum total than what you are paying now. You don’t even have to go through a debt settlement company to settle your debt, you can acutally negotiate the terms yourself with your credit card company.
  • Snowballing – Focus on paying your smallest account off first focusing all efforts on knocking out that debt, then shift your focus to the next smallest debt total. You can use this method to both eliminate your debt as well as instill more and more confidence as you pay off each account. This will also take away the overwhelming feeling of trying to pay all debt off at the same time. While you are dropping more than the minimum payments on the smallest debt, all you have to do is pay the mimimum on the others. Rinse and repeat! You can also try to negotiate lower interest rates on your cards during this process. You can also use the snowballing effect to eliminate credit card debt on the cards with the highest interest first.
  • Debt Settlement – Settling your debt can mean that you end up paying half or less than what you originally owe. Credit card companies want you to pay which if you are not paying they are willing to go to extensive lengths to get you to pay. Settling debt will allow you to pay off your debt in one swift move, leaving you debt free at a much lower cost.
  • Smart Shopping – Pinching pennies may be the last thing you want to do, but it can help you save big each month, which you can use to pay more than the minimum on your debt. If you were ever a student, you know exactly what bargain shopping is, so revert back to the colleges days!
  • Use No More! – Last but certainly most important is to stop using your credit card to buy things, or just save it for emergencies. This will put a halt to your debt total, which means paying less in interest as well as knowing the exact number that you need to pay off. If you are not comfortable with carrying around cash all the time, you can get a debit card and just keeping a small amount of cash in the account, allowing your to still pay with plastic.

The best part about these methods is when you use them they can eliminate credit card debt without having to file for bankruptcy which will kill your credit as well as chances to borrow money in the future. These debt elimination methods will also allow you to keep your savings in the savings account, that is unless you want to use the funds towards payin debt. Use them today to get out of debt!

Consolidation Loans For Credit Cards – How To Get The Best Loans

December 4, 2011

Consolidation Loans For Credit Cards

Attaining a consolidation loan for credit cards you have debt with can equate to the first step towards gaining back your financial independency as well as freedom, and best of all being one less number in the ever growing number of people that are in over their heads in debt. When you take out a credit card consolidation loan, you will be able to possibly get a much lower interest rate, being that credit card interest rates are sky high, as well as you will avoid the gargantuan fees that comes with paying late, as you will now be paying on a much lower payment total each month as consolidation companies stretch out the repayment period, enabling lower payments.

consolidation loans for credit cards

When going to apply for a consolidation loan for credit cards, you will be entertained by two different offers, which are loans in the form of being secured or unsecured. Secured credit card consolidation loans, also known as secured lending, are offered for those who are willing to put up collateral like a home or car or any other asset that has high worth which the higher worth, the better chance that the person will receive a loan as well as better rates. If the borrower fails to make their credit card consolidation loan payments they will go into defualt, which then the lender then owns the collateral that is put up. The benefit of secured loans is that they always come with lower interest rates than that of unsecured loans, as well as offer more lenient repayment terms, enabling one to extend payments terms to up to 30 years. This method is most often used for those who have very high debt totals, and need to get a large loan.

Unsecured consolidation loans for credit cards do not require any collateral to be offered for acceptance, but unlike secured loans, acceptance is based off of your credit score. If one doesn’t have a good credit score, then it is imperative to find a someone who does, and have them be your co-signer, and being that you are not offering something to loose, interest rates will most likely be higher as well as repayment terms will be higher. Unsecured consolidation loans for credit cards are best for those who do not have a home or much in the form of collateral.

No matter which option you end up choosing, you will want to compare APR rates and terms along with other encompassing information before committing to the first company that will have you, as you will be able to find the best deal for you and not get sucked into a company that is just trying to close a deal. It is also highly advised that you employ a debt consouler who can advise you on reputable companies and the best terms for your particular situation as well as they can also provide alternatives that can be better for your situation if infact a consolidation loan for credit cards isn’t the best way to go.

How To Get The Best Conolidation Loans For Credit Cards

Below are a few tips that you may want to consider entertaining in the event that you choose on using consolidation loans for credit cards.

  • In the event that you want to pay your debt off early, you will want to find a company that offers principal rate reduction,
  • If in fact you are looking for a longer repayment term to pay off your credit card consolidation loan, you will want to find a company offering interest rate reductions.
  • Make sure you find companies who have permanent discounts, not just temporary.
  • If you happen to be with another lender, and during that time you started with a poor credit score, but have boosted it up during the time your have been with your current lender, like 100 points or more, you can consider going to another lender who may give you a better interest rate, or try and negotiate better terms with your current credit card consolidation lender since they want to keep your business.
  • Low interest rates are also found through non profit organizations which you can tell if they are non profit by asking them to prove their non profit formation which is:  (501(c)(3)), but if you do not go with a non profit organization, make sure the company is involved with either The Association of Debt Settlement and/or Internal Association of Professional Debt Arbitrators (IAPDB) or both.
  • Using auto debit can result in your saving a small percentage, but a percentage none the less on your interest rates, as well as ensures that you make your consolidation loans for credit cards payment on time each month.
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