News & Education

Unauthorized access is a major problem in the high-tech world we operate in today. If you are a victim of these hacks, the consequences can include loss of money, bank account information, and identity theft. It is more important than ever to take necessary actions ensuring your username and password are secure. We have made the decision to require usernames rather than account numbers to enhance the safety of your account. We also require that you evaluate your password for complexity as an extra security measure.

You are the first line of defense in protecting your account access. Password complexity goes a long way to keep your financial information safe, but a unique username can provide additional security to protect your account just as much as a strong password. So what makes a strong username and password? Below are some guidelines you may consider when creating a secure username and password combination.

• Keep it unique: Create a username for your Home Branch/EFCU Mobile App account that is different from your email username or any other usernames for other online accounts.
• Keep it simple: Your username should be one that you can remember, so avoid using too many symbols or upper and lowercase letters.
• Stay anonymous: Do not use the same username and password combination or a username that gives clues to your password. Also refrain from using your name, birth year, social security number, and other identifying information as this becomes a huge indicator of who you are.

• Avoid using personal information: Your password should never include any part of your full name, username, email address, birth date, social security number, phone number, account number, etc.
• Refrain from using real words: Hackers use numerous online tools to guess your password. Some of these tools even allow their devices to run through every word in multiple dictionaries in a matter of minutes. If you really want to make it difficult for hackers, create your own words to secure your password and prevent their schemes from succeeding.
• Do not use repeated or adjacent keyboard combinations: Passwords that combine repeated or adjacent alphabetical or numerical sequences on the keyboard are easy for hackers to crack. Avoid using “aaaaaa”, “111111”, “qwerty”, and “123456”, etc.
• Use a mix of characters: Strong passwords have all four of the following types of characters — lowercase letters, uppercase letters, numbers, and special characters (!%#$&).

• Never disclose your username and password to anyone.
• Do not use passwords that you have used in the past.
• Never provide credentials requested via email.
• Do not save passwords or use the “remember me” resource on public computers.

• Spot imposters. Scammers often pretend to be someone you trust, like a government official, a family member, a charity, or a company you do business with. Don't send money or give out personal information in response to an unexpected request regardless of whether it comes as a text, a phone call, or an email.
• Do online searches. Type a company or product name into your favorite search engine with words like "review," "complaint" or "scam." Or search for a phrase that describes your situation, like "IRS call." You can even search for phone numbers to see if other people have reported them as scams.
• Don't believe your caller ID. Technology makes it easy for scammers to fake caller ID information, so the name and number you see aren't always real. If someone calls asking for money or personal information, hang up. If you think the caller might be telling the truth, call back to a number you know is genuine.
• Don't pay upfront for a promise. Someone might ask you to pay in advance for things like debt relief, credit and loan offers, mortgage assistance, or a job. They might even say you've won a prize, but first you have to pay taxes or fees. If you do, they will probably take the money and disappear.
• Consider how you pay. Credit cards have significant fraud protection built in, but some payment methods don't. Wiring money through services like Western Union or MoneyGram is risky because it's nearly impossible to get your money back. That's also true for reloadable cards like MoneyPak, Reloadit or Vanilla. Government offices and honest companies won't require you to use these payment methods.
• Talk to someone. Before you give up your money or personal information, talk to someone you trust. Con artists want you to make decisions in a hurry. They might even threaten you. Slow down, check out the story, do an online search, consult an expert or just tell a friend.
• Hang up on robocalls. If you answer the phone and hear a recorded sales pitch, hang up and report it to the FTC. These calls are illegal, and often the products are bogus. Don't press 1 to speak to a person or to be taken off the list. That could lead to more calls.
• Be skeptical about free trial offers. Some companies use free trials to sign you up for products and bill you every month until you cancel. Before you agree to a free trial, research the company and read the cancellation policy. And always review your monthly statements for charges you don't recognize.
• Don't deposit a check and wire money back. By law, banks must make funds from deposited checks available within days, but uncovering a fake check can take weeks. If a check you deposit turns out to be a fake, you're responsible for repaying the bank.
• Sign up for free scam alerts from the FTC. Get the latest tips and advice about scams sent right to your inbox.

Shopping for a new or used vehicle is an important task but it doesn't have to be stressful. Preparation is key to getting a good deal on your big investment. Whether it's your first time looking for a vehicle or you want to trade up to a new or used vehicle, this simple guide is full of helpful information for every stage of the auto buying process.

STEP 1: BUDGET

With any large investment, it is important to establish your budget first. If you're looking to finance, our auto loan payment calculator is available to help you get a sense of various monthly loan payment amounts and the amount you could be paying over the term of your loan. With your budget and personal preferences in mind, you can then decide how much you want to spend on a new or used vehicle. If you receive an EFCU pre-approved auto loan (PAL) by mail or through Home Branch, be sure to have it readily available as you shop for your next vehicle. PALs outline how much you can spend when auto shopping and can essentially place bargaining power right in the palm of your hands.

If you do not have a PAL, you can apply for an auto loan directly from our website. It may also help if you review your credit history before you begin shopping, you can get a free credit report at annualcreditreport.com.

STEP 2: LOOK AROUND

It is important to take your time and look to multiple sources to find the vehicle you want at the right price. When you're ready to begin your search, take advantage of the hassle-free AutoSMART online purchasing program. Here you can search streamlined inventories of participating dealers in our network right from your home. You can also visit any of our participating 5 Star Dealers. Regardless of your preference, your EFCU auto loan can be financed on the spot through any of these participating dealerships - even after-hours and on weekends!

STEP 3: RESEARCH

When you find a vehicle you like, do some investigation. Research new and used auto values through the NADA Pricing Guide. This pricing guide will help determine what a vehicle is worth and can also serve as a powerful negotiation tool. The annual percentage rate (APR), term and maximum loan amount on your EFCU auto loan is based on the vehicle's model year, MSRP Value (new vehicles), NADA Retail Value (Used vehicles up to 1 year old) and NADA Clean Trade Value (Used vehicles 2 to 15 years old). We also offer EFCU members a discounted CARFAX to assist with determining a used vehicle's history.

You may also find the information available through the Consumer Reports website helpful. Reading what vehicle experts and owners have to say about safety features and performance regarding your potential purchase can provide excellent insight before you buy. If you plan to trade in a vehicle, you should also research its value before you begin negotiations.

STEP 4: PURCHASE

When you find the vehicle you want, it is important to use all the information you've researched in order to obtain the best deal. If you've done your research, you'll know if the seller is asking a fair price or offering a fair price for your trade-in. Be sure to use your pre-approved auto loan from Eglin Federal Credit Union. If you are financing with EFCU and purchasing at a dealership participating in the AutoCash program, remember to submit your AutoCash coupon for a $50 gift card.

STEP 5: PROTECT YOUR INVESTMENT

Once you receive the keys to your vehicle, do your happy dance!

Afterwards, think what you can do to protect yourself and your new investment. EFCU has partnered with TruStage to provide auto insurance quotes for your new or used vehicle so that you, your investment and passengers are protected in the event of collision, injury, and/or loss. As an added benefit, your membership with EFCU can result in some sweet savings on auto insurance.

Guaranteed Asset Protection (GAP) can help fill the gap between what your vehicle insurance will pay and what you owe on your loan, to cushion you against sudden out of pocket expenses if your vehicle is totaled or stolen. GAP can help lighten the financial burden for you and the people you care about. Get GAP today so you can worry a little less about tomorrow. GAP is voluntary, competitively priced, and can be added to your auto loan at any time.

Debt Protection is another voluntary loan protection product that may be added to your auto loan at any time. Debt Protection could cancel your loan balance or payments up to the contract maximums if a protected event such as sickness or injury, loss of life, or involuntary unemployment occurs.

EFCU is here to help you through all stages of the auto buying process so you can be prepared, informed, and enjoy the road ahead. Give us a call at 850.862.0111 or stop by any EFCU branch to get started.

• Never give your Social Security number or other personal information over the phone
• Change your passwords regularly
• Set up alerts to monitor account activity
• Don't save account numbers on mobile devices
• Avoid using public Wi-Fi
• Never open suspicious links in emails
• Keep your computer and mobile devices updated
• Turn off your computer when it is not in use
• Stay in the know about the latest scams
• Always logout and close your browser window
• Report any suspicious activity as soon as possible

• Unlimited access to your credit score and key factors impacting your score. View your credit score as often as you like and identify how inquiries, payment history and other factors influence this number.
• Credit alerts. Receive email notifications of significant changes to your credit file (e.g., hard inquiries, new account openings, change of address) as well as any activities suspect to fraud or identity theft.
• Credit improving tips. Gain insight on actions that may be helping or harming your credit score.
• Money-saving opportunities with various EFCU products. Receive instant offers right on your dashboard and discover how refinancing with EFCU can save you money and/or reduce your payments.
• Credit score history. Observe how your credit score has changed over time.
• Average credit score within your ZIP code. View the average credit score in your area and see how you compare.
• Initiate credit disputes. Send a dispute at the click of a button if you notice any incorrect information.

• Know the interest rates you qualify for on loans. Your credit score determines your ability to qualify for loans and receive better interest rates when borrowing. Knowing your credit score can help you shop for the best APR before applying for the loan.
• Ensure your credit information is accurate. Your credit score is directly linked with the information in your credit report and can give you an indication as to whether your credit information is accurate. If your credit score is lower than you expect, it may point to some errors that need to be disputed with the credit bureaus.
• Deter fraud and identity theft early. With technology increasing rapidly and fraudsters and identity thieves becoming more creative, monitoring your credit report on a regular basis is more critical than ever. Your comprehensive credit report will alert you as soon as suspicious activity appears on your account so you will be able to stop fraud and identity theft in its tracks.
• Stay updated on ways to improve your score. Items such as short credit histories, high balances on credit cards, and late payments can all affect your score. Your comprehensive credit report will note which of these are impacting your credit score so you can develop a plan for strengthening it.
• Enjoy financial peace of mind. The convenience of your credit score, credit report and instant offers at EFCU right on your dashboard will help you take control of your credit and gain the upper hand on your finances.

If you have ever received your credit score from the three major credit bureaus, you may have noticed that these scores are not the same. Why do credit scores vary? Here is why.

Scoring Models
Differences in credit scores derive from the numerous credit scoring models that are used in the financial industry. Credit scoring models are used by credit bureaus to collect and analyze your statistical data to determine your credit eligibility. There are a range of credit scoring models that weigh in on varying factors which change the way scores are computed, however, EFCU uses the FICO 9 scoring model and the VantageScore model.

FICO Scoring Model
The FICO Scoring model has been around since 1989 and is the most widely used measure of creditworthiness primarily due to its longevity. FICO scores take payment history, credit utilization, credit history, types of credit, and new credit into account when determining its credit score, with much emphasis or "weight" placed on payment history and credit utilization. EFCU has upgraded to FICO 9 which is the score used for all EFCU loan decisions.

VantageScore Model
The VantageScore model was created by the three major credit bureaus (Experian, Equifax, and Transunion) in 2006. The VantageScore model takes payment history, age and type of credit, credit utilization, total balances, recent behavior, and available credit into account when determining its credit score, with much emphasis or "weight" placed on payment history, age and type of credit, and credit utilization. Your free credit score offered in Home Branch uses the VantageScore model.

If you have any further questions regarding your comprehensive credit report, contact us at 850.862.0111 x.1421.

Eglin Federal Credit Union (EFCU) has begun renovations to its Fort Walton Beach Branch at 838 Eglin Parkway NE, Fort Walton Beach. "We are excited about the exterior renovations at our Fort Walton Beach branch," said Jerry Williams, President and CEO of EFCU. "Our members who rely on this location can, over the next several months, look forward to enhancements to the exterior of the branch, including new walkways, exterior painting of the building, and new landscape. Our EFCU logo will be featured on the building along with new electronic signage. Renovations will also include relocating our parking lot ATM to a covered ATM drive-up area. We apologize for the inconveniences that you may experience while visiting our Main Office and will work hard to keep them to a minimum. Thank you in advance for your patience as we complete this project."

In addition to the renovations that are taking place at its Fort Walton Beach branch, EFCU is also celebrating 65 years of service to the members and communities it serves. Jerry Williams noted that, "over the years much has changed as we’ve grown to $2 billion in assets and over 120,000 members worldwide and nine branch locations in Okaloosa and Santa Rosa counties. Our motto is 'Where Members Matter Most' and what remains the same is our commitment to provide first class financial services and products to our member owners while maintaining the safety and soundness of the Credit Union."

* APR = Annual Percentage Rate. There is a range of rates for each loan type. The rate received will be determined by an evaluation of the applicant's credit. The above rates are current as of Sunday, October 20, 2019 and are subject to change

1. Requires EFCU Membership.
2. Requires an EFCU checking account and a Home Branch password.
3. Bill Payer is free with an EFCU checking account and a minimum of 3 completed transactions each month.
4. When you have less than 3 completed transactions each month a $5 fee applies.
5. You can schedule payments up to a year in advance.
6. No maximum limit to number of payments scheduled.
7. Payments may be added or changed at your convenience.
8. You may enroll in eBill to receive your bill summary from eligible payees electronically to your Bill Payer Account. eBill will notify you when a bill is available to review. eBill stores up to 84 months of eBill history.

EFCU's Routing & Transit Number for Direct Deposit or any other electronic transfer of funds is 263178070.