The Quarterly Newsletter - Fall 2025
President’s Message
Welcome to fall! It’s hard to believe it is October already. I hope you enjoyed the great summer weather this year. Last week, the Federal Reserve reduced short-term interest rates with the first rate cut of 2025. The Fed also forecasted one or two more rate cuts later this year. With lower rates, now might be the time for a new vehicle, home improvements, or maybe that RV you have been thinking about. We have money to lend, and very competitive rates. Just give us a call, our lending process is quick and easy, and you can apply online or over the phone.
Wishing all our members a safe and enjoyable fall and thank you for the trust you place in CCFCU. We are here for you.
Scott Harriman, President & CEO
Always Have More Than One Way to Pay
By Karen Rickett, CCFCU Chief Operating Officer
Has this happened to you? You head out to run a quick errand and forget your wallet. You’ve already filled your cart at the grocery store and reach the checkout when—uh oh—you realize you don’t have your wallet with you. Panic starts to set in. But then you remember: your credit card is saved in your digital wallet on your smartphone. One quick tap, and the payment goes through! You leave the store relieved, with your groceries and a smile on your face. This scenario is a great example of why it’s so important to always have at least two forms of payment. Whether you’re a CCFCU member or just managing your everyday finances, having a backup payment method is key to staying prepared.
1. Reliability and Backup
• Avoid Payment Failures: Technical issues happen. A card reader might be down, your app could glitch, or a network could go offline. Having another payment option—like a credit card stored on your phone—keeps you from being stuck.
• Prevent Declined Transactions: Cards can be declined for reasons like insufficient funds, expired cards, fraud alerts, or hitting a credit limit. A backup card or digital wallet can help you finish your purchase without interruption.
• Emergency Readiness: Lost or stolen cards, power outages, or travel abroad can leave you stranded without access to funds. A backup credit card can be a lifesaver when your primary payment method fails.
Need a reliable backup? Check out our CCFCU Visa Credit Cards.
2. Flexibility and Convenience
• Different Merchant Preferences: Some merchants accept only certain payment types. With more than one method—like a physical card and a digital wallet—you’ll be prepared no matter where you shop.
• Faster, Smoother Transactions: Having payment options improves the customer experience. Digital wallets make checkout quick, easy, and touch-free.
3. Better Financial Management & Rewards
• Maximize Credit Card Rewards: Many credit cards offer perks like cash back, travel points, or discounts. Using different cards for different purchases can help you earn more rewards over time.
• Budgeting Made Easy: Assigning specific cards to different types of spending (e.g., groceries, online purchases) makes it easier to track expenses and stick to a budget.
• Emergency Support: Credit cards can provide financial breathing room in emergencies—but remember to use them wisely and pay off balances promptly to avoid interest.
Final Thoughts
Having at least two forms of payment is more than a convenience—it’s a financial safety net. It offers peace of mind, flexibility, and even opportunities to better manage your finances and earn rewards.
And if you haven’t tried a digital wallet yet—why not start now? CCFCU debit cards are fully compatible with Apple Pay, Samsung Pay, and Android Pay. Our “Rewards” Visa credit card can already be saved to Apple Pay, and by the end of this year, both the "Rewards" and "Cash Back" credit cards will be available for all three digital wallets!
Stay prepared. Stay flexible. And make sure you always have more than one way to pay!
Fraud & Scams - How to Protect Yourself, Your Family, and Your Friends
Fraudsters do not care about your background or your lifestyle. They prey on stressful life situations. They prey on people that they can get to react, people who are under stress and do not have time to stop and think!
Together, we’re raising awareness and helping Mainers stop fraud in its tracks.
Maine Credit Unions have partnered with the Maine Attorney General’s Office, Maine State Police, Maine Bureau of Financial Institutions, Legal Services for Maine Elders, and an expert fraud investigator for a timely and important conversation about spotting scams and protecting yourself. Please share this with everyone you care about!