News and Information

Leominster Credit Union will hold a Shred-A-Thon at its 910 West Boylston Street, Worcester, MA location on Saturday, September 15, 2018 from 9:00AM – Noon.

Members and non-members can get rid of old, sensitive documents by shredding and recycling them at the Shred-A-Thon. All items will be shred on site by a secure shredding service, New England Security Shredders.

Members of the community can bring up to three legal size file boxes or three 13-gallon kitchen trash bags to be shred for free. However, we will be accepting donations to Habitat for Humanity during the event. The Shred-A-Thon helps raise awareness about recycling and of course the importance of shredding personal documents to protect against identity theft.

Important documents to bring to the Shred-A-Thon include bank statements, tax returns, medical bills, credit card statements and other personal documents.

For more information contact Joanne Lattanzi, AVP/Marketing at 978-466-7240 or marketing@lcu.davisexample.com.

Currently, the cycle for determining when interest is being paid on certain accounts differs from their statement cycle. For your convenience, and to simplify the calculation of interest paid cycles, if the interest on your account is currently paid on a date that is different from your statement cycle, going forward we will be adjusting the interest paid date to coincide with your statement cycle.

This change will occur once the interest for the current cycle has been paid. For those individuals whose interest cycles will be changing, you will receive interest as of your Current Interest Cycle and again on the New Interest Cycle (which will be less than a full month’s interest). Thereafter, your interest will be paid according to the New Interest Cycle, which will be the same day as your Statement Cycle and will be a full month’s interest. These changes will not result in your account losing any interest it has earned and that you are entitled to receive.

To find out if your account will be part of this change in August 2018, view the detailed account matrix. All other accounts/products are processing interest in accordance with their respective statement cycles.

If you have any questions or concerns regarding this change please call our Member Service Center at 800-649-4646 and they will be happy to assist you.

Leominster Credit Union announces that for the seventh year in a row, they will be providing up to $110,000 in assistance to first-time homebuyers and displaced homemakers through the Federal Home Loan Bank’s Equity Builder Program. Eligible homebuyers can receive up to $11,000 in down payment and closing cost assistance. This program is on a first come, first serve basis.

To qualify, buyers are subject to credit approval and must meet the Equity Builder Program qualifications criteria, which include income limits. According to Julie Bergstrand, Real Estate Underwriting Manager, “The maximum income limit for a family of four in Worcester is $68,650.00, which is less restrictive than many would expect.”

“For many first time buyers, this assistance can make a difference in fulfilling their dream of homeownership,” said Bergstrand.

Income limits vary from county to county. For more information and eligibility guidelines, call and speak with a mortgage specialist at 978-466-7233. The funds will be distributed until the grant is depleted.

 

 

Leominster Credit Union is hosting free first time homebuyers’ seminars each Wednesday from April 25 through May 23. The seminars will be held in Clinton, Holden, Worcester, and Leominster. Seminar details and registration can be found at Leominstercu.com/home-seminars/

A team of real estate experts including a realtor, attorney and financing professionals will present the program. Topics will include: Are you ready to buy a home; Finding Your Dream Home; Obtaining Financing; and the Closing Process. Attendees will learn about the costs associated with homeownership; how your credit affects your options; making an offer and negotiating the price; the inspection process; and closing.

“The process of buying your first home can be daunting.  Making the right choices can help set you up for the rest of your life,” said Lydia Vazquez, Assistant Vice President, Real Estate Lending. “The seminars will help break down the entire process.  Our goal is to enable the attendees to be well prepared; to have realistic expectations and to avoid costly mistakes.”

Seating is limited and registration is required.

The First Time Homebuyers’ Seminars are part of LCU’s May is Homebuyers’ Month which includes home-buying tips on facebook, special offers and contests.