#1 in California and #5 in the nation!
Credit unions are known for delivering exceptional value to their members through competitive products, personalized services, and meaningful community engagement. Measuring that value, however, is a complex challenge. Over 20 years ago, Callahan & Associates developed the Return of the Member (ROM) calculation to provide a comprehensive assessment of member value. ROM evaluates three core credit union functions:
- Return to Savers – The value provided through savings rates and dividends.
- Return to Borrowers – The benefits offered through loan rates and fees.
- Member Participation – The extent of member engagement across products and services.
In 2024, SRI Federal Credit Union has achieved remarkable recognition:
- #1 Credit Union in California out of 252 credit unions statewide.
- #1 in the United States within our asset class ($100–$250 million in assets), out of 696 credit unions.
- #5 nationally among all 4,566 credit unions in the U.S.
This is a truly extraordinary accomplishment and reflects the incredible value we deliver to our members. A Senior Advisor at Callahan & Associates highlighted that ranking 5th nationally is a monumental achievement. It underscores the unparalleled benefits our members receive and the credit union’s commitment to excellence.
A Team Effort
This success wouldn’t be possible without the dedication of our incredible staff, who work tirelessly to ensure our members have access to outstanding financial products and services. We also extend our gratitude to our Asset Liability Committee, which has helped maintain high dividends, and to our Board of Directors and Supervisory Committee, whose leadership supports innovative products that keep our members satisfied.
As a member of SRI Federal Credit Union, you can be proud to be part of one of the nation’s top credit unions. Thank you for trusting us with your financial journey, and we remain committed to delivering even greater value in the years to come!
Ease Holiday Stress with an SRIFCU Personal Loan at a Special Rate
The holiday season is a time for joy, celebration, and making memories with loved ones, but it can also bring financial challenges. Whether you’re planning festive gatherings, shopping for gifts, or traveling to visit family, those extra expenses can quickly add up. To help make this season as stress-free as possible, SRIFCU is offering a Special Holiday Rate Personal Loan at 8.99% APR, fixed. Our Holiday Loan is designed to provide an affordable and flexible alternative to high-interest credit cards or dipping into your savings. Here’s why it’s a smart choice: High-interest credit cards can be tempting for quick purchases, but they often come with hefty interest rates and revolving debt that’s hard to pay off. With our Special Holiday Rate Personal Loan, you’ll enjoy a fixed repayment schedule, helping you avoid the pitfalls of growing credit card balances and extended debt. Getting started is easy! Simply apply online HERE, or contact our team to discuss your needs and see how this loan can help brighten your holidays. We’re committed to helping our members celebrate the season without unnecessary financial stress. Take advantage of this limited-time offer and make your holidays truly special. Whether it’s spreading cheer or creating lasting memories, SRIFCU is here to help you make it happen with a loan that works for you.Why Choose an SRIFCU Personal Loan?
At just 8.99% APR, you can enjoy peace of mind knowing your interest rate won’t increase. This rate is highly competitive compared to typical credit card APRs, which often exceed 20%.
With fixed monthly payments, it’s easy to incorporate your loan into your budget. There are no surprises—just manageable payments that keep your finances on track.
Applying for the SRIFCU Personal Loan is simple. Whether you prefer to apply online or reach out to one of our friendly representatives, we’re here to assist you every step of the way.
Use your loan for whatever you need this holiday season—whether it’s gifts, travel expenses, home decorations, or even hosting the perfect holiday dinner.A Better Alternative to Credit Cards
How to Apply
Don’t Wait—This Special Rate Won’t Last!
Get Ready for the Holidays with Smart Savings!
As the holiday season approaches, it’s easy to get wrapped up in the festivities, from gift-giving to family gatherings and travel plans. While it’s a time to celebrate, these activities can quickly add up and put a strain on your wallet. At SRI Federal Credit Union, we’re here to help you prepare for a joyful, stress-free holiday season by planning and making the most of your budget. Here are some practical tips to keep your finances in check, so you can enjoy all the magic of the holidays without the financial hangover. Start by identifying how much you can comfortably spend during the holidays. Your budget should include expenses like gifts, food, decorations, travel, and any additional holiday events. Once you know what you can spend, you’ll be better prepared to avoid last-minute splurges. Did you know your SRI Federal Credit Union Core Savings Account can be a powerful tool to help you save for the holidays? Every member receives a Core Savings Account when they join SRIFCU, and as of November 1, 2024, it offers a highly competitive 4.08% APYE on the first $5,000. This high rate makes it an excellent option for setting aside funds for special expenses, like holiday gifts or travel. By depositing a little each month, you’ll have a tidy holiday fund ready when the season arrives—without putting a strain on your other finances. Sales events like Black Friday and Cyber Monday are popular times for holiday shopping, but deals can pop up any time. By shopping early, you can spread out your expenses, avoid the holiday rush, and snag the best prices. Don’t forget to check out member-only discounts that might be available to you through your credit union’s card benefits. Impulse buying can make holiday expenses balloon quickly. Make a list of who you plan to buy for, set a spending limit for each, and stick to it. Consider meaningful, personalized gifts that don’t break the bank. Or, if you’re feeling creative, homemade gifts can be both thoughtful and cost-effective. Credit cards can be a helpful tool for managing holiday expenses, especially if they come with rewards. With SRI Federal Credit Union’s Visa® Gold card, you can earn rewards on your purchases. But remember: plan to pay off your balance each month to avoid interest charges. This way, you can enjoy the benefits without carrying debt into the new year. Don’t have an SRIFCU Visa? Click HERE to read about our three Visa credit card options or click HERE to apply. If your holiday plans involve travel, booking ahead can often save you a substantial amount. Look for off-peak travel dates, set up fare alerts, and consider alternative accommodations to find the best prices. Many credit union cards, like our Visa options, offer travel perks and protections—check with us to see how they can support your holiday travel needs. Holiday expenses can sneak up, so make it a habit to track your spending. With SRI Federal Credit Union’s mobile app and online banking features, you can easily monitor your account and keep tabs on your holiday budget. Seeing where you are with your spending can help you make adjustments before it’s too late. If you need a little extra support to make your holidays extra festive, SRIFCU is here to help with a Special Holiday Rate Personal Loan at 8.99% APR, fixed! Our holiday loan can provide an affordable, flexible option to cover seasonal expenses, and with fixed monthly payments, you can keep your budget under control and avoid high-interest credit card debt. Apply HERE or reach out to us to see how this loan can help ease your holiday finances with manageable payments. Planning and saving for the holidays might seem like a lot of work now, but come January, you’ll be glad you took these steps. SRI Federal Credit Union is here to support you every step of the way with tools, tips, and personalized financial guidance. If you’re ready to make the most of your Core Savings Account, apply for a rewards card, or simply want advice on managing your finances this season, don’t hesitate to reach out to us. Let’s make this holiday season as joyful for your budget as it is for you!1. Set Your Holiday Budget Now
2. Use Your Core Savings Account to Save for Holiday Expenses
3. Shop Early and Take Advantage of Deals
4. Make a Gift List and Stick to It
5. Use Your Credit Card Wisely
6. Plan Your Travel in Advance
7. Keep Track of Your Spending
8. Consider an SRIFCU Personal Loan with a Special Holiday Rate
Enjoy a Financially Healthy Holiday Season!
Stay Spooky and Secure: Halloween Safety Tips to Protect Your Finances
1. Beware of Phishing Tricks
During Halloween, you might notice an increase in promotional emails and pop-up deals for costumes, treats, and haunted attractions. Be cautious of “too good to be true” offers, which could be phishing attempts designed to collect your personal or financial information. Look out for emails with poor grammar, misspelled URLs, or suspicious attachments. As a rule of thumb, never click on unsolicited links or enter your login details on websites unless you’re certain they’re legitimate.
Pro Tip: When in doubt, go directly to a retailer’s official website instead of clicking on email links. For added safety, SRIFCU provides fraud monitoring on all credit and debit cards. Contact us if you notice anything suspicious.
2. Watch Out for Skimmers at Haunted and Pop-Up Locations
The Halloween season brings with it many pop-up stores and temporary events like haunted houses and pumpkin patches. Be vigilant at these locations, as they can sometimes be targets for card skimming devices. Skimmers capture your card’s data, which can be used later for fraudulent charges.
Pro Tip: If you’re paying at an outdoor or temporary location, consider using a digital wallet or contactless payment, which reduces your exposure to skimmers. Many of our credit union cards support secure contactless payments for this very reason.
3. Secure Your Accounts with Strong Passwords and Alerts
Even though costumes change with each Halloween, one thing shouldn’t: your online security. Make sure your online banking account has a strong, unique password and set up alerts to notify you of any unusual activity.
Pro Tip: At SRIFCU, you can enable real-time alerts that notify you of any suspicious transactions or login attempts. It’s a simple way to stay informed and act quickly if anything looks out of place.
4. Be Wary of Social Media Scams and “Free” Halloween Deals
Social media is buzzing with Halloween-themed quizzes, costume contests, and freebies. However, some of these could be traps to steal personal information. Avoid sharing sensitive information or clicking on unfamiliar links, even if they appear to come from friends or trusted sources.
Pro Tip: If you’re unsure about the legitimacy of a deal or contest, visit the official website of the company offering it. Many reputable organizations post their contests and promotions there as well. Your credit union’s fraud team is also available to answer questions about suspicious activity.
5. Protect Your Kids’ and Family’s Data
If your kids are trick-or-treating or participating in Halloween events, ensure they’re only visiting safe and trusted locations. Additionally, many Halloween apps and games aimed at kids can request excessive permissions or data.
Pro Tip: Monitor what information is being shared through apps and encourage your family to avoid downloading unknown apps without checking reviews and privacy settings. As your credit union, we take your family’s privacy seriously and can offer tips on safe digital habits.
6. Keep Your Credit Card Contact Info Handy
Halloween can be hectic, and losing track of your credit or debit card while out and about can happen to anyone. If you do lose your card, report it immediately to prevent unauthorized use.
Pro Tip: Make a note of your credit union’s card contact information and have it saved on your phone. SRIFCU offers 24/7 support for lost or stolen cards, so you can be confident that we’re here to help when you need it.
This Halloween, let’s all take a little extra care to avoid the scams that can take the fun out of the season. For any questions about account security, fraud protection, or safe online banking tips, contact us at connect@srifcu.org Stay safe, stay spooky, and remember—your credit union is here to keep the financial “tricks” away!
All You Need to Know About Overpayment Scams
Great news – you’ve just received a check, and you’ve been overpaid! But there’s a catch: the check writer wants you to send the surplus back to them. Unfortunately, though, if you follow these directions, you’ll be buying right into a scam. Overpayment scams are fairly common, and for the unaware, they can be difficult to spot. Let’s take a look at these scams and what you need to know to avoid falling victim to these ruses. What is an overpayment scam? In an overpayment scam, fraudsters target an individual who’s selling a large item online, such as a car. The scammer will reach out to the seller, offering to buy their car for more than the asking price. Then, they’ll send the seller payment in the mail. At this point, the seller is thrilled. But, when the check comes, it brings with it a surprise – they’ve been overpaid. Soon after, the alleged buyer contacts the seller to ask them to refund the surplus. The seller may think it’s strange, but they comply, not wanting to keep money that isn’t theirs. The next thing they know, the original check hasn’t cleared and they realize they’ve been scammed. Not only have they not been paid for the purchase they believed the check writer was buying, but they’ve also lost the money they’ve sent back to the scammer. Red flags When selling an item on an online platform, look out for these red flags, which can alert you to a possible overpayment scam: If you encounter any of these red flags while trying to sell an item online, do not engage with the “buyer.” Block their email address and mark it as spam to avoid further contact from the scammer. You may also want to report them to the platform you’re selling the item on to help stop them from reaching out to others. How to avoid overpayment scams The FTC offers the following tips for avoiding overpayment scams when selling online: If you’ve been targeted If you believe you’ve been targeted by an overpayment scam, there are steps you can take to mitigate the damage. First, report the scam to your financial institution, as they may be able to reverse the payment. Next, alert the FTC at ftc.gov so they can do their part in catching the criminals. Finally, you can let your local law enforcement agencies know about the scam and warn your friends and family about it as well. Don’t get caught in an overpayment scam! Use this guide to stay safe.
Protecting Our Members After the NationalPublicData.com Breach
In today’s digital landscape, data breaches have become all too common. The most recent incident involves a hacker known as “USDoD,” who allegedly breached the systems of National Public Data, a company that aggregates data to provide background checks. This breach, which is believed to have started in or around April 2024, resulted in the theft of personal records that were later posted for sale and eventually released by other criminal groups onto the dark web. As a credit union committed to the security and privacy of our members, we want to keep you informed about this incident and provide you with actionable steps to protect yourself from potential fraud and account takeovers. Understanding the Breach The breach at National Public Data exposed a significant amount of personal information. While this breach did not directly involve our credit union’s systems, the compromised data could still affect our members if their personal details were included. Currently, available information suggests that this breach involved personal information—such as names, addresses, contact information, and potentially Social Security numbers—not credit or debit card information. At this time, we do not believe card data was compromised in this event. How This Could Affect You Even though credit and debit card information was not compromised, the exposure of personal data still poses a risk. Cybercriminals may use this information to engage in identity theft, phishing scams, or account takeovers. They could impersonate you, gain unauthorized access to your accounts, or create new accounts in your name. Steps to Protect Yourself Fraud Alert: A fraud alert is a warning placed on your credit report that tells creditors to take extra steps to verify your identity before issuing credit in your name. This can be particularly helpful if you believe your personal information may have been compromised, as it makes it harder for identity thieves to open new accounts. How to Place a Fraud Alert: Credit Freeze: A credit freeze (also known as a security freeze) is a more robust protection that locks your credit report, preventing creditors from accessing it entirely. This means that new credit accounts cannot be opened in your name while the freeze is in place. Unlike a fraud alert, a credit freeze does not expire and remains in place until you remove it. How to Place a Credit Freeze: Our Commitment to Your Security At SRI Federal Credit Union, your security is our top priority. We are continuously monitoring our systems and taking proactive measures to protect your accounts. We also encourage you to take these precautions to safeguard your personal information. If you have any questions or concerns, please do not hesitate to reach out to our member services team. Together, we can protect your financial well-being and maintain the trust you’ve placed in us.
10 Back-to-School Hacks to Beat Inflation
Back-to-school season is here, and while it’s known as the second-biggest shopping season of the year, it’s shaping up to be more expensive than ever. But don’t worry! You can trim your back-to-school spending and keep your budget intact with some smart strategies. At SRI Federal Credit Union, we’re here to help you make the most of your money with our Visa and account products. Here are 10 back-to-school hacks to beat inflation and make your finances work for you: Create a realistic budget for your back-to-school shopping and stick to it. Start with a list of essential items and set a target amount for each category. This will help you avoid impulse purchases and stay within your financial limits. Plus, using any of our SRI FCU Visa cards can help you track your spending easily. One of the best ways to save money is to start shopping early. This will help you take advantage of sales and avoid the last-minute rush when prices may be higher. Planning ahead also means you can use our SRI FCU Mobile App to manage your finances on the go. Before heading to the stores, check out the inventory of supplies and clothes you already have at home. This can help you avoid buying more of what you already have and save a lot of money. Many states offer tax-free holidays, where certain items are exempt from sales tax. Plan your shopping around these dates to maximize your savings. For items you’ll need to buy many of, like notebooks, pens, and paper, buying in bulk can be cost-effective. You’ll generally find discounts on bulk purchases at warehouse stores and office supply retailers. Harness the power of technology to find the best deals as you shop for school supplies, gear, and clothing this season. A price comparison website or app will automatically compare prices across different retailers to find the best deal. Thrift stores, consignment shops, and online marketplaces like eBay and Facebook Marketplace can be treasure troves for gently used clothing, backpacks, and other school supplies. While buying the cheapest option available may be tempting, investing in high-quality items can save you money in the long run. Many retailers offer student discounts on many items, from clothing to electronics. Check out the sites of your favorite retailers to see what they offer before completing a purchase. Using an SRI Federal Credit Union Visa card can be particularly beneficial during back-to-school shopping. For example, our Visa Uchoose Rewards cards offer cashback and rewards on purchases, giving you a little extra back from your spending. Just remember to pay off the credit card bill in full to avoid interest charges. By incorporating these tips and utilizing the financial products offered by SRI Federal Credit Union, you can navigate the back-to-school season with ease and keep your budget intact. Happy shopping! 1. Set a Budget and Stick to It
2. Start Early and Plan Ahead
3. Take Inventory of What You Already Have
4. Shop During Tax-Free Holidays
5. Buy in Bulk
6. Use Price Comparison Tools
7. Consider Secondhand Options
8. Choose Quality Over Quantity
9. Take Advantage of Student Discounts
10. Leverage Cashback and Rewards Programs
What is a Credit Report?
Q: I’ve heard that I should be checking my credit report regularly to ensure my ongoing financial wellness. What is a credit report and how do I read mine? A: Your credit report plays a crucial role in measuring your financial health and the outcome of many related opportunities. Whether you’re applying for a loan, a credit card, or even a job, your credit report can significantly influence the outcome. A credit report is an important part of your financial health, so it’s important to understand what you’re looking for when you review it. Here’s everything you need to know about a credit report and how to read one. What is a credit report? A credit report is a detailed record of your credit history compiled by credit bureaus. It includes information about your credit accounts, such as loans, credit cards, and mortgages, as well as your payment history, credit limits, and balances. Credit reports are used by lenders, landlords, employers, and others to evaluate your creditworthiness and financial responsibility. There are three major credit bureaus in the United States: Equifax, Experian, and TransUnion. Each bureau collects and maintains its own version of your credit report, so it’s important to check all three regularly to ensure complete accuracy. What’s in my credit report? Understanding the components of your credit report can help you better manage your credit and identify any errors or fraudulent activities. Here’s what you’ll typically find in a credit report: Why does my credit report matter? Your credit report is more than just a summary of your financial history. It’s a tool that can affect many aspects of your life. Here are some reasons why your credit report matters: How can I access my credit report? Under the Fair Credit Reporting Act (FCRA), you are entitled to a free credit report from each of the three major credit bureaus once every 12 months. You can request your free reports through AnnualCreditReport.com. Here’s how to review your credit report effectively. First, verify that all personal information is correct. Look for any errors in your credit accounts, such as incorrect balances or payment statuses. Next, look for any potentially unauthorized accounts. If you spot any accounts you don’t recognize, it could be a sign of identity theft. Now review the list of inquiries to ensure you recognize all the entities that have accessed your report. Unauthorized hard inquiries can also indicate fraud. Finally, examine all public records and collections on your credit report. If you’ve resolved a debt, make sure it’s reflected correctly. How can I improve my credit report? Maintaining a healthy credit report requires hard work and responsible financial behavior. Here are some tips to improve and maintain your credit report: Your credit report is a vital tool in your financial toolkit, influencing many aspects of your life. Use this guide to learn what a credit report is, how to read one, and how to improve yours for optimal financial wellness.
All You Need to Know About One-Time Password Scams
One-time passwords (OTPs) are a crucial security feature in our digital age by offering an extra layer of protection for online transactions and account logins. Unfortunately, though, scammers often try to hijack these codes to steal sensitive information, money, or both. Here’s what you need to know about one-time password scams and how to avoid them. What is a one-time password scam? One-time password (OTP) scams are designed to trick individuals into sharing their OTPs, which scammers then use to gain unauthorized access to accounts. Here are the various ways these scams go down: Whichever method is deployed in an attempt to steal your OTP, the scammer will then use it to access your accounts and possibly steal your identity Red flags Avoid falling victim to a one-time password scam by watching out for these red flags: Protect yourself Staying safe from OTP scams requires vigilance and adopting best practices for online security. Here are some steps you can take: If you’ve been targeted If you believe you’ve been scammed and/or have shared your OTP, take immediate action. First, change the passwords on all affected accounts and those that have similar login credentials. Next, inform the host organization of the account that it’s been compromised. They can help secure your account and guide you on additional steps to take. Monitor your accounts in the ensuing weeks and months, keeping a close eye on your financial statements and account activity for any unauthorized transactions. Finally, file a report with your local consumer protection agency, the Federal Trade Commission (FTC), and the Internet Crime Complaint Center (IC3). You may also want to consider identity theft protection at this time if sensitive information was compromised. One-time password scams can be difficult to spot and wreak massive damage. Use this guide to learn about one-time password scams and how to prevent yourself from falling victim. Stay safe!
All You Need to Know About Pig-Butchering Scams Category: Scams: Phishing Scams
You may have received a text or chat message in recent months about an attractive-looking investment opportunity. The message may have seemed to be sent mistakenly, but it’s all too real. In fact, it’s likely a pig-butchering scam.
Let’s take a look at these prevalent scams and how you can avoid falling victim. What is a pig-butchering scam? “Pig butchering” refers to the practice of fattening up a hog before slaughter. This scam, which originated in China, has been spreading around the world since COVID. In a pig-butchering scam, a fraudster creates a fake online persona, usually accompanied by an attractive photo and a luxurious lifestyle that is showcased in more photos to flesh out their story. Then they’ll initiate contact with a target on dating or other social media platforms, pretending to have reached out by mistake. Somehow, they’ll transition from there into a chat about the target’s life, family, work and more. To make themselves sound more believable, the scammer will invent details about their own life. They’ll use this to create a real rapport with the target until they’re actual friends, albeit with only a remote connection. Next, the scammer will start dropping hints about a fabulous investment opportunity. They’ll brag about their own success with this investment, sometimes even sharing screenshots of an alleged brokerage account with handsome earnings. They’ll try persuading the victim to invest in this “opportunity” as well, building on their growing relationship, until the victim agrees to join in the supposed opportunity. Once the victim agrees to go along with the investment, the scammer will offer to help them with the investing process. They may explain exactly how to wire money to a crypto wallet and, ultimately, to a bogus brokerage. Sometimes, they’ll recommend that the victim starts with a modest investment, which will soon show a (fabricated) gain. They may even allow the victim to withdraw some funds, which will convince the victim that the investment is genuine. Here’s where things get really ugly. Once the faux trust has been established, and the pig has been good and fattened, the scammer will persuade the victim to invest heavily in this “stock”. The victim, sure it is a legitimate opportunity that will only show gains, is more than happy to do so. They will even sometimes pursue mortgaging their house to get in on this investment. Other victims have liquidated their retirement savings or taken out loans. The scammer will continue to put pressure on the victim, watching gleefully as they pour more and more of their savings into the alleged investment. When the victim has sunk a significant amount of money into the investment, the scammer will suddenly disappear, leaving the victim with a useless “investment” and no way to recover their funds. Red flags Watch out for these red flags that can alert you to a possible pig-butchering scam: Stay safe Don’t get butchered! Follow these tips to stay safe. First, thoroughly research every investment opportunity before dropping any of your funds in it. Next, only use a registered and secure investment platform or app. Stay away from investments that guarantee quick, high returns and press you to act quickly. Be wary of any strangers who’ve contacted you “by mistake” and insist on pursuing the relationship. As with any scenario, never share your sensitive information with an unverified contact. If you believe you’ve been targeted by a pig-butchering scam, alert the FTC and your local law enforcement agencies. Do not engage with the scammer and be sure to block their number and/or email address from your devices. Finally, let your friends know the scam is happening in your circle. Stay safe!