cPort Credit Union was recently named as one of the 2017 Best Places to Work in Maine. “I’m proud that cPort has earned this recognition,” says cPort’s CEO, Gene Ardito. “Our vision at cPort is to deliver the best financial experience to our members, and we need to attract and retain the best employees to serve our members. The Best Places to Work in Maine assessment is an excellent independent measure of cPort’s employment practices, and it’s an honor to be on the list among some of Maine’s top companies.” Read More
The federal reserve will make it possible for companies to start processing same-day ACH (Automated Clearing House) debits starting on September 15, 2017. This can reduce the lag time between when you make an electronic transaction and when the money clears your account. For example, if you pay your cable bill in the morning, the funds could be cleared from your account before 5:00 the same day. Retailers can also opt to convert checks to ACH, so this change could impact check transactions, as well.
3 Tips to be prepared
- Don’t Assume Funds Will Clear the Day After Purchase
Habits can be hard to break. Get in the habit now of planning for funds to clear at the time you make a payment
- Check Your Account Balance
Keeping a low balance can have a negative impact in the event a same day ACH debit overdraws your account and is returned or incurs a fee. Even with courtesy pay, keeping your account balance at a level that supports your spending is the best way to keep your account in the green.
- Ask us Questions
We are here to help! As always, please contact us at 1-800-464-0253, send us a secure message through eBanking, or stop into our branch to ask any questions that you may have!
Last week, the Federal Reserve’s Federal Open Market Committee announced that it will raise its Federal Funds Rate by .25%, which represents the Fed’s first rate increase since June 2006. Economists, analysts, and the media had been speculating about the rate increase leading up to the announcement, and I know that many of our members are wondering what impact the rate increase might have on you.