The Fed's decision on September 18th to "help" the economy by lowering the discount rate 1/2 of 1% may slowly filter down into both the deposit and loan services of most local credit unions and banks. EPB Employees Credit Union is currently evaluating rates for both deposits and loans.

We had already scheduled a 1/2% increase in the mortgage loan rates to go into effect October 1st. This decision was based on the fact that we have too many fixed-rate long term mortgage loans on our books and we need to "slow the flow" a bit by raising the rates on new 8, 15 and 30-year mortgage loans. Applications taken through September 28 will be at the old, lower rate. However, at this time, we still plan to go through with the rate increase on those type loans only beginning October 1, 2007. We will also discontinue our 9-Month Special Certificate effective September 30, 2007.

The Fed will meet again October 30-31. There is continued speculation that the Fed may lower the discount rate another 1/4% and follow this with still another 1/4% at their December 16th meeting. At this time, we are considering keeping both the deposit and loan rates unchanged perhaps, at least, until our October 24th Board meeting. Please note that we may be adjusting our rates on both deposits and loans at any time without much advance notice due to changing market conditions.

EPBECU - 9/25/2007

Coming the first weekend in August, each of the three states in our Tri-state area is offering state sales tax exemption on certain items, usually back-to-school related. Check out the below information as each state differs in what is and is not exempt. (Note that Georgia starts her holiday on Thursday, August 2nd.)

EPBECU - 7/18/2007

Use your computer to order money saving discount tickets to Rock City, Ruby Falls and Incline Railway. By special arrangement, your Credit Union is able to pass along the best discount prices for combination tickets to all three major attractions on Lookout Mountain. Check it out the next time you would like to "see Chattanooga first."

For discount ticket information, check here:    DISCOUNT TICKETS

EPBECU - 6/07/2007

Our allotment of Riverbend pins is now gone! We will NOT be receiving any more this year. So, for those who purchased pins, we hope that you will enjoy this year's events. While supplies last, we have the printed brochures for those who purchased pins.

For event information, check here:    R I V E R B E N D   2007

EPBECU - 5/18/2007