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Community News

Here is what’s happening in our greater community.

Bauer 5-Star Rating

Community Powered Federal Credit Union has been awarded the coveted BauerFinancial 5-Star rating!  A 5 Star Rating is categorized as Superior and BauerFinancial recommends our institution.

“It’s important to impress, this award is not granted; it is earned,” emphasizes Karen Dorway, president of BauerFinancial. “And, having earned 5-Stars for 100 (or more) consecutive quarters, Community Powered Federal Credit Union has earned an even higher designation as a ‘Best of Bauer Credit Union.’”

Bauer uses the same strict guidelines to rate all banks and all credit unions and makes those ratings available to everyone on their website. BauerFinancial is completely independent and doesn’t get paid to rate an institution, nor can any institution avoid being rated. 

This practice has earned the respect of regulators, bankers, and consumers across the United States. They have been analyzing and reporting on the industry since 1983. 

Read the full press release

Community Powered Federal Credit Union has been awarded the coveted BauerFinancial * 5-Star rating!  A 5 Star Rating is categorized as Superior and BauerFinancial recommends our institution.

“It’s important to impress, this award is not granted; it is earned,” emphasizes Karen Dorway, president of BauerFinancial. “And, having earned 5-Stars for 100 (or more) consecutive quarters, Community Powered Federal Credit Union has earned an even higher designation as a ‘Best of Bauer Credit Union.’”

Bauer uses the same strict guidelines to rate all banks and all credit unions and makes those ratings available to everyone on their website. BauerFinancial is completely independent and doesn’t get paid to rate an institution, nor can any institution avoid being rated. 

This practice has earned the respect of regulators, bankers, and consumers across the United States. They have been analyzing and reporting on the industry since 1983. 

Read the full press release

Supervisory Committee

Our Supervisory Committee is a key part of the Credit Union. Do you want to become involved in making sure your Credit Union has established practices and procedures to properly safeguard members’ assets? If you are interested in joining the committee or learning more, please contact the Credit Union at (302) 368-2396.

Tax Time Tips

It’s that time of year to officially close out last year by filing taxes for 2022. For many, it can be a daunting time. Here are tips and information to assist in making this year’s tax season more manageable.

  • The deadline for filing your 2022 returns or requesting a tax-filing extension is midnight on April 18, 2023.

  • Check your pay stubs against your W-2(s) to ensure the numbers match up.

  • Every year there are additional changes to withholdings and exceptions. Brush up on any changes that may affect you.

  • Keep last year’s return handy. There may be credits and deductions you are still qualified to take or you may now be qualified to use.

  • Consider contributing to our Individual Retirement Account (IRA). Contributions made to an IRA prior to April 18, 2023 can often be used to lower your 2022 tax burden.^

  • Don’t forget to sign up for Direct Deposit for your tax refund into your IRA or Savings Account to use your money to prepare for next year’s taxes.

  • When filing your taxes and requesting a Direct Deposit of your refund, you’ll need our routing number (231177016) and your account number for the deposit.

  • You can open your IRA account online today by clicking here.

  • If you file your taxes and find out you owe more than you anticipated, we have a solution to help. We’re here to assist you in paying off that unexpected tax bill with a Tax Loan that offers rates as low as 7.50% APR* and up to 72 months for repayment! Learn more about our loans or apply online

  • Remember that it is a good idea to keep your records for at least three years in case of an IRS tax audit. Now is a great time to start a new file folder to organize all of your receipts for the 2023 tax year.

We hope these tips and information take some of the sting out of tax season. Contact us to see if an IRA or Personal Loan may be the answer you’re looking for. Feel free to call (302) 368-2396 or stop by one of our offices to speak with a Member Services Representative.

*Limited time offer and subject to membership eligibility. Loan is subject to credit approval. APR is Annual Percentage Rate andcan vary based on creditworthiness and terms of the loan. Rate is subject to change. See Credit Union for details.

^Please consult with your tax advisor.

 

Stay protected
Please make sure all of your contact information is up to date in our system. One of the ways we authenticate suspicious account activity is by phone number. Log into Online Banking, call (302) 368-2396, or stop by any of our branches to safeguard your accounts. Contact us before traveling, to ensure uninterrupted service.
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By accessing this link you will be leaving Community Powered’s website and entering a third-party site. Community Powered is not responsible for or guarantees the content on that site. Privacy and security policies of the site may differ from Community Powered Federal Credit Union. Please review their privacy policy for terms and conditions.

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Notice

By accessing this link you will be leaving Community Powered’s website and entering a third-party site. Community Powered is not responsible for or guarantees the content on that site. Privacy and security policies of the site may differ from Community Powered Federal Credit Union. Please review their privacy policy for terms and conditions.