Letter from the President - why we choose Canopy
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letter from the President
why we choose Canopy
The next time you’re out driving around the Spokane area you may
notice some new Canopy billboards with a familiar message – “your
credit score doesn’t tell the whole story.” This idea is at the core of
how we approach our relationships with each and every member,
and they are words we live by here at Canopy. We know you have a
unique story that we want to hear; that story is vital to helping us
know how to best help you thrive financially. We won’t let your
credit score define you.
When you choose to be a member of Canopy, you are helping to
support that mission. Even if you’re fortunate enough to have a
great credit score and a spotless credit history, there’s a good
chance that some of your friends, family members, and neighbors
may not.
We invest time, effort, and ideas to help make Canopy a great
place to work. Our staff choose to work here because of our
commitment to this mission. Our focus on helping our members
succeed is helping us recruit amazing people, who are looking to
live out that mission every single day. Charlotte Nemec
President/CEO
read more ...
alternatives to payday loans that can save you money
Payday loans are designed to trap you in a
cycle of debt. When an emergency hits and
you have poor credit and no savings, you
may feel like you have no other choice. But
choosing a payday loan negatively affects
your credit, threatens any savings you may
have, and may even land you in court. When
you partner with Canopy, there’s a better
way.
check out Canopy’s Payday
Alternative Loan
Payday Alternative Loans allow existing
credit union members to borrow small amounts of money at a lower cost than payday loans and repay the
loan over a longer period.
Payday lenders in Washington can charge up to an astronomical 390% interest on a payday loan (insert
jaw drop). Our Payday Alternative Loan is a MUCH more affordable and we won’t pull your credit
report or check your score if you decide to apply.
learn more ...
how to navigate the holidays without going broke Feel like the holidays snuck up on you again? For most people, this time of year is a trigger to start racking up some hefty credit card charges to cover additional spending needs. But the hangover starts sooner than you think, and guess what? When January rolls around, you’re facing a stack of bills and wondering how you’re going to pay them off. let’s get real Money regrets often stem from a lack of long term planning. Getting started means getting real with yourself about what you can afford to spend and finding the easiest and most effective ways to save, budget and spend when the holidays finally arrive. To begin, consider making small automatic deposits to your savings account every time you get paid or make a deposit. That way, when the holidays roll around, you can use your credit cards to rack up rewards points, knowing you already have funds set aside to pay those charges off. An easy and fun way to do this is by opening a Holiday Club savings account at Canopy. You can pick any amount up to $500 to be automatically deposited into your holiday savings fund each month. The funds will then be automatically sent to your checking account on November 1, just in time for your holiday shopping needs! read more ... five ways to save for a large purchase or rebuild your savings after making one The thought of ever being able to save up for a large purchase can be overwhelming. Maybe you’re considering how much money you’ll need to set aside for a big expense, like paying for a wedding, making a down payment on a new home, or saving for a new (or newer used) car or truck. Even if you don’t have a large purchase on the horizon, you’d probably feel more secure knowing you have the emergency funds stashed for a rainy day. Here are five things you can do to make the process easier: 1. Pay yourself first Even if you can’t afford to save enough to hit your goal in your ideal timeframe, pay yourself first. Set up an automatic transfer on payday that puts funds from your checking account into your savings account so you don’t even have to think about it. Make it even easier by setting up a direct deposit with your employer. It’s a lot harder to cancel a direct deposit than it is to cancel an online banking transfer. learn more ... credit myths that may be costing you money Helping our members learn how to best manage their credit is something we do everyday. It’s a topic that’s fraught with misinformation and bad advice. A person’s desire to improve their credit score is fueled by a number of factors. (continued)
Many people had their credit scores
damaged during the recession and
pandemic and are now trying to improve
them in order to qualify for lower mortgage
and loan rates. In addition, employers
increasingly use credit reports to evaluate
applicants, so every little factor counts.
Regardless of your score, here are some
common credit myths that could be
costing you money.
1. I haven't done anything wrong so my
credit is fine. Even if you've done
everything right, your credit could still be
in trouble. That's because 35% of credit reports have errors on them. If that includes you, you might be
paying more in interest than you need to be.
2. If I check my credit report, it will hurt my score. Checking your own report generally doesn't
hurt your score but errors do, so don't let this hold you back from finding out.
3. I've checked my credit report and there are no errors so I don't have anything to worry
about. You actually have 3 credit reports (from Experian, Equifax, and TransUnion) so if you've only
checked one, there's still a chance that errors on one of the others is hurting you.
read more ...
Canopy Justice Roast did you know...
Each quarter we collaborate with Ladder Coffee to ...That as a member of Canopy Credit Union,
donate 30% of proceeds from the Canopy Justice you’re eligible to be elected to, and vote for, the
Roast to a different, local non-profit. Our fourth Board of Directors? If you or someone you know
quarter recipient is Big Table Spokane. Big Table would be a great addition to our Board, we’re
has been headquartered in Spokane since 2009. taking nominations right now for positions opening
Spokane’s restaurant and hospitality industry in 2022.
employs nearly 24,000 people and is the
4th largest employment sector in Spokane Please send a résumé to:
County. Nearly half of those employees fall below
the “survival” income line set by economists. Big Nominating Committee
Table comes alongside these hardworking people P.O. Box 2519
when they experience a crisis or an unexpected Spokane, WA 99220-2519
challenge to offer support, encouragement, and
hope. Résumés must be received no later than
December 31, 2021.
Join in and help generate funds for Big Table
Spokane while enjoying a delicious and locally
made coffee blend. Stop by and buy a bag of your Canopy Board of Directors
Canopy Justice Roast at any Ladder Coffee
location or order it directly online.
buy Canopy Justice Roast today
other stories in this edition:
employee anniversaries
loan rates
Canopy leadership
holiday closures, office hours and locations
contact us visit our website
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Canopy Credit Union | 509.328.2900 | www.canopycu.com
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