The 2021 Virtual Annual MeetingSaturday, January 16, 2021
10:00am - Noon Featuring Keynote Speaker Donna Brown of Chase Bank and Silent Live Auction View the flyer |
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Welcome to Imperial Credit Union. Our purpose is to “Lend a Helping Hand” to the members and families of the African Methodist Episcopal (AME) church of the Illinois Conference Branch, which includes parts of Iowa, by promoting valuable access to financial services to the community, including people underserved and unserved by traditional financial institutions, as outlined in the Fair Credit Reporting Act (FCRA). We are a volunteer organization devoted to serving its members.
The Board of the Imperial Credit Union is happy to announce that we are now awarding dividends on regular share accounts averaging a balance of $100 . The first posting of 0.25% covers the period January 1, 2018 to January 1, 2019. From here on, we expect dividends to be awarded quarterly to accounts averaging a $100 balance. Dividends rates and terms are subject to change. Members are encouraged to make deposits regularly to their accounts.
~ The ICU is the oldest continuously African American-owned business based in Springfield, Illinois ~
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YPD UpdateCongratulations to our four winners of the YPD Challenge! Please keep the saving habits going! Thanks, also, to the 4th District Womens Missionary Society for their support and the plaque they awarded the YPD and us. |
10 Reasons To Open a Saving Account
Safety - The National Credit Union Administration (NCUA) insures up to a maximum of $250,000 in your credit union savings account. If the credit union fails, the NCUA covers your deposits. No one has ever lost money in an NCUA-insured account.
Accessibility - Funds in your savings account are readily accessible. You can make withdrawals from your savings account by calling or leaving a message at 217-481-6381, by sending us a note at imperialcu@yahoo.com, or requesting a withdrawal through PayPal at imperialcu@yahoo.com. Do not include any personal information such as a Social Security Number in the above requests.
Emergencies - Emergencies, such as losing your job, can cause stress on anyone's financial situation. Having several months' worth of living expenses in savings can help take the pressure off until you can get back on your feet.
Big Ticket Items - You might not have the resources to make a major purchase on the spur of the moment. By setting aside a fixed amount of money in a savings account each month toward the price of a big-ticket item, you will have the funds available to pay cash and avoid going into debt.
Unexpected Expenses - Life happens. You might have a tire blow out, or you might blow the engine in your car. Your sister might go into premature labor and you need to fly to Denver tonight. Unexpected expenses can put a huge damper on your financial plan; money set aside in a savings account can cover them.
Encourages Financial Stability - Pay yourself first. Regularly putting a portion of each paycheck into savings helps create a sense of financial stability.
Discourages Reckless Spending - It is easier to spend money that is in your pocket than to spend money that you have to get from the bank or the ATM. This "out of sight, out of mind" scenario may help discourage impulse buying.
Sets a Good Example for the Kids - Putting money into a savings account at your local bank provides you with a teachable moment with your kids. Showing your kids how to save gives them an opportunity to learn self-control. Studies suggest that children who have savings accounts have less stress, a greater sense of hope and are more likely to attend college than kids who don't, according to the American Bankers Association.
Encourages Sound Financial Habits - Regularly putting money into a savings account is a first step in creating habits that extend into other areas of your financial life. As you become more financially literate, you may discover the need to create a budget to tell you where you spend your money, and a financial plan to help guide you toward your goals for the future.
Interest - Savings accounts pay interest on your deposits. Granted, the interest on savings accounts is minimal, but it is better than putting cash under your mattress where it earns nothing at all.
Loans
Do you need a extra money for back to school expenses, vacations, or home and car repairs?
ICU is now lending qualified member borrowers up to $2000 for up to 24 months.
Click on the link to download a loan application and send to Imperial Credit Union at imperialcu@yahoo.com, or
mail to Imperial Credit Union, PO Box 4525, Springfield, IL 62708.
ICU is now lending qualified member borrowers up to $2000 for up to 24 months.
Click on the link to download a loan application and send to Imperial Credit Union at imperialcu@yahoo.com, or
mail to Imperial Credit Union, PO Box 4525, Springfield, IL 62708.
Gift Cards now available
Need a gift for a birthday, anniversary, graduation, promotion or simply to say thanks? Our Visa Gift Cards come in colorful designs to celebrate any special event. These debit Cards can be used anywhere Visa is accepted worldwide, including in-store, online and by phone. So they’re more functional than a gift certificate and safer than cash.
ORDER YOUR GIFT CARDS NOW
ORDER YOUR GIFT CARDS NOW
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The Imperial Credit Union knows that most of you are experiencing much stress from Covid 19. For those for whom this is also a financial challenge, ICU will do what we can. We need to keep people out of the office space, but you can call us at 217-481-6381 or email us at imperialcu@yahoo.com to request withdrawals or a loan application. You can also use PayPal to make withdrawals, deposits, and loan payments. Our Paypal address is imperialcu@yahoo.com. Remember, as long as you leave at least $5 in your account, it will remain open. Continue to mail loan payments and deposits to PO Box 4525, Springfield, IL 62708. If you have been laid off, fired, or given reduced hours, you may need a loan when you return to your regular work. We are ready to help where possible. Stay safe, everyone.
