Natco Member next to her new car from Enterprise

Another GREAT Deal for a Natco Member

Here’s another member driving away in a reliable, newer model vehicle from Enterprise Car Sales. Our Auto Buying Program makes it easy for members their next vehicle without all of the hassles you normally expect from buying a car.

Here’s what Abigail S. had to say – ‘The whole experience was very pleasant. Quick, easy, and they answered all my questions. Worth the drive!’

 

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Catch Me Shining

Recognize an employee for a job well done!

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Natco Community Empowerment Center

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Equifax Data Breach

What to do next?

 Risk Alerts

Risk alerts are provided to inform you of potential scams, bring awareness to potential fraud and help protect you from situations that could put you at risk.

SpecialAlert

Equifax Data Breach

Assume your data has been compromised even if Equifax shows it has not been.

The recent Equifax data breach has left more than 143,000 million consumers concerned that their personal information has been exposed. There are precautions we can all take to help protect ourselves and be alerted against potential fraud on our accounts.

We suggest everyone take a few simple steps to be proactive against fraud!

    • Place a 90-day fraud alert on your credit report instead of freezing your credit.
      This will make it easier for lenders to work with you in the event you are applying for credit. It will stop scammers from taking new credit in your name during this time. Visit www.alerts.equifax.com to set up a 90-day fraud alert.

 

    • Place a verbal password on your credit union and bank accounts.
      Give us a call to set your verbal password on your Natco accounts. We will then ask for it with each transaction.

 

    • If you have a Natco debit card, enroll in debit alerts*.
      Debit alerts allow you to receive a text message or email when certain debit card activity occurs on your account. Enroll in debit alerts now.

 

*Debit alerts is a free credit union service that works in conjunction with your debit card and checking account. Check with your mobile provider to see if standard text messaging and data rates apply.

SET UP 90-day Fraud Alert

ENROLL IN Debit Alerts

LEARN MORE Credit Alerts

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We Raised $5,100 for the River’s Edge Project!

Together We Raised $5,100 for the River’s Edge Project!

Both Natco Credit Union and Whitewater Regional Credit Union participated in the River’s Edge Project fundraiser. We are excited that together, we were able to raise $5,100 to benefit the project!

The money raised will help to complete the first phase of River’s Edge Park. The Fayette County Foundation and Connersville Parks Department have partnered to complete Phase 1 construction by fall 2020. The park will include an outdoor amphitheater, concession building, playground, open air shelter, and canoe launch.

River’s Edge will be a highlight of Fayette County and we are excited to help in making it happen.

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Free Basic Tax Preparation

Call for an appointment

(765)983-4766

 

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Natco CU wins CDFI grant!

Natco wins $776,500 in second coveted U.S. Treasury CDFI grant

Natco plans to use the grant monies to expand lending opportunities for low-income consumers.

Natco Credit Union (Natco) was chartered in 1944 to serve the employees of the National Automated Tool Co. Today, Natco serves people who live or work in the following Indiana Counties: Wayne, Fayette, Randolph, Henry, Rush, Union, and Franklin. Membership is also available to any industrial worker within a 25-mile radius of Richmond, and family members of an existing member.

Natco’s mission is “helping people live better lives,” and its vision is “to strengthen community through economic empowerment, one step at a time.” Natco is a financial lifeline to the lower-income, working-class consumers living in the communities it serves.

Many of the consumers Natco lends to are credit-challenged. According to Prosperity Now1, Indiana consumers have one of the highest rates of bankruptcy in the country: 4.4 per 1,000 people, compared to the national average of 2.9. To alleviate these and other problems, Natco will use the 2017 CDFI grant award to expand its affordable used-auto loans to lower-income and credit-challenged consumers. Natco aims to reduce the stress of car buying when members get pre-approved and go shopping for their next vehicle. Through a relationship Natco has, members have access to search the inventory of thousands of vehicles – all of which come with a free Carfax report, a certified limited warranty, and a 12-month roadside assistance policy. Natco’s predatory lender alternative auto loan program allows members to purchase a quality vehicle with a payment that works for their budget. This is extremely important for consumers who live paycheck to paycheck and can’t save for unexpected expenses such as car repairs.

Natco will also use the grant award to grow its low-fee/low-rate Secured Credit Card program. The secured card allows members to enjoy the same benefits as those members with standard credit cards. This credit card offers no annual fee, a competitive interest rate, no fees on balance transfers or cash advances, a 25-day interest-free grace period for purchases, customized alerts, and access to account information through the credit union’s credit card app. This product is valuable to many with credit and income challenges, as it helps to control debt escalation and provides a safe tool for credit building.

This is not the first time Natco has been recognized with a grant by the U.S. Treasury for its work to assist lower-income, working-class consumers. In 2012, Natco was recognized with its first U.S. Treasury CDFI grant award for $313,606.

This grant award was used to create the Natco Community Empowerment Center (NCEC). The purpose of NCEC is to serve the lower-income, asset-poor people living in Wayne and Fayette counties. At the Center, consumers can be connected to immediate needs resources. The NCEC staff helps people improve credit through education and budgeting, assists with resume preparation and mock interviews, and conducts training sessions. In 2016 alone, 12,158 consumers were served directly by the NCEC. “When it comes to putting people before profits and finding unique ways to financially serve hardworking, working-class Americans, Natco is a national best practice,” said Scott Butterfield, principal of the credit union consulting firm Your Credit Union Partner. “It’s simple: each time Natco helps someone with a lower income and credit challenges gain access to an affordable (and reliable) used-auto loan, or opportunities to build credit, it helps that consumer improve credit and retain or improve their job and have a better quality of life. What they do matters.”

“We worked with Your Credit Union Partner to develop a strategy for our grant application,” continued Natco President and CEO Cynthia Duke. “Several years ago, we recognized the common challenges in our community: credit challenges, lower-income, and limited access to affordable loans. Providing lending solutions at a fair rate and working with each member individually, we are able to find solutions that put people on the path of financial stability. “Our staff continually looks for opportunities to share information about our loan alternatives. We are excited that this grant will allow us to reach more people with our predatory lender alternative solution. Basic transportation is challenging for many. This can have a ripple effect when someone purchases an inexpensive vehicle without a warranty, and then it breaks down. The result becomes that they can’t afford the repairs and risk not being able to get to work. Our goal is to help members get reliable vehicles with payments they can afford.”

1 https://scorecard.prosperitynow.org/data-by-location#state/in