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DCU's vision is that all members achieve financial well-being. We believe that unbiased, detailed consumer education is essential for you to achieve your financial goals. Why are we different? Read it here.
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Check our latest newsletter: Show Me August 2008 Issue
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ATM Surcharges and How to Avoid Them
If you have an ATM card, you may want to be careful about which ATM machines you use. Some companies will take anywhere between $.75 to $5.00 out of your account just for using their machine! What can you do to save that extra money? Here are some ideas.
- Use an ATM that is owned by DCU. We don't charge that extra money.
- Don't use the ATM machine as much. Plan ahead for what money you'll need.
- Check out our links to No Surcharge ATM Directories for listings of ATM machines that won't charge you extra.
- And, DCU will reimburse up to $5.00 per month in surcharges if you're age 12 to 22 or you direct deposit your net pay, Social Security, or pension to your DCU Checking Account.
The Golden Dollar Coin
Beginning January 27, 2000, the U.S. Mint began circulating new dollar coins. The coin design replaces the old Susan B. Anthony dollar, which has circulated since 1979.
The new coin is not gold at all, but a combination of several metals with a gold-colored alloy layer on the surface. The alloy that gives it the golden color is manganese brass, a material composed of 77% copper, 12% zinc, 7% manganese, and 4% nickel. It is the same size, weight, and "electromagnetic composition" as the old dollar coin so it will work in current vending machines.
The face of the coin features an image of Sacagawea. Sacagawea was the young Shoshone interpreter who, from 1804 to 1806, assisted the Lewis and Clark expedition from the Northern Great Plains to the Pacific Ocean and back. Sacagawea contributed to the success of the expedition through her navigational, diplomatic, and translating skills.
The coin is already more popular than the Susan B. Anthony dollar with as many coins in circulation within the first seven weeks as the old coin had in the first seven years. Now that people have the coin, the U.S. Mint is eager for people to start parting with them. Since a coin is more durable than paper money, the U.S. Government hopes the new coin will reduce the number of dollar bills it must print.
To learn more, visit the web site of the U.S. Mint.
Thinking of College? What Kinds of Student Loans Are Out There
Believe it or not, after you graduate you will have to PAY FOR SCHOOL! Why would you ever want to do such a thing? Just like high school graduates, college graduates typically earn more money. They learn about new subjects, and meet all kinds of different people. College is a great chance to learn about life.
But, what happens if you don't have the money saved up in your bank account? Colleges can cost anywhere between $2,000 to $20,000 per semester for tuition alone. Luckily, since many students don't have these funds, there are student loans available.
There are three kinds of student loans. The Federal Stafford Subsidized Loan, the Federal Stafford Unsubsidized Loan, and the Federal Parent PLUS Loan. Each offers you a lower rate, and you don't begin to pay them back until after you have college for six months.
The Federal Stafford Subsidized Loan is based on your need. You will be asked to file for financial aid, and based on the information you give them, the government decides the amount you will be allowed to borrow. You won't be charged any interest until after you leave school.
The Federal Stafford Unsubsidized Loan is very similar to the Federal Stafford Subsidized Loan. The biggest difference is it is not based on financial need. Therefore, if you didn't qualify for the Federal Stafford Subsidized Loan, this type is a common substitute. However, you will be accumulating interest from the time you take out the loan.
The Federal Parent PLUS is similar to the other loans, except that your parents take out this loan instead of yourself.
Want more information? Simply send us an email request for the Nellie Mae Passport to College kit. Also visit our online guide to Education Financing.
