August 2022 eNews
*Annual Percentage Rate. With approved credit. Some restrictions may apply. Rates subject to change without notice. New money only. Contact the credit union for full details. Offer valid for a limited time only. Max loan amount is $20,000. Federally insured by the NCUA. Equal Housing Opportunity.
*Annual Percentage Rate. Equal Housing Opportunity. Federally Insured for the NCUA. HELOC is only available in MN & WI. Rates are based upon credit score.
What type of account is your youth ready for?

  • Savings Account
  • Savings Account with ATM Card

Get your youth started on the right financial track by opening an account today! Accounts can be opened online in just a few minutes.  
How to Switch your
Primary Checking Account
to Toro Credit Union

It's easy. Just follow these simple steps.

  1. Open a Toro Credit Union checking account (if you don't already have one). Click the Become a Member button on our home page and follow the instructions.
  2. Get a debit card. Call or stop by the credit union and request a debit card linked to your checking account.
  3. Link your bank account to your Toro Credit Union account. This will make transferring money easier. If you need help, just contact us to help you set this up.
  4. Set up your deposits and autopay. Switch your direct deposit and automatic bill payment to your Toro Credit Union checking account.
  5. Stop using your old bank checking account. Leave just enough money in your old bank checking account to cover any outstanding checks or automatic payments.
  6. Close your old bank checking account. Once your direct deposits and automatic payments are coming and going through your Toro Credit Union checking account and the last of your bank checks have cleared, close the old bank checking account.
More than half of Americans are worried they will outlive their retirement savings, and research shows that women are more at risk of outliving their savings than men. According to the World Economic Forum, many American women will live more than 10 years past the end of their savings, compared to 8 years for men.

There is a significant shortfall between the savings amounts women have compared to men. One reason is women, on average, live longer than men. However, gender income disparity is another significant factor. For example, according to the U.S. Bureau of Labor Statistics, in the first quarter of 2022, women who were full-time wage and salary workers had median weekly earnings of $937, which is 84 percent of the $1,118 median salary men earn.

Many people expect their Social Security benefits to provide most of their retirement income. That benefit is based on a person’s 35 highest earnings years. The fewer years you spend in the workforce, the less you will receive in Social Security benefits. Since women are more likely than men to take time out of the labor force to care for children and elderly parents, those years without a paycheck will count as zero in their Social Security benefit calculation.

Women and men also differ in the way they save, invest, and use credit. Studies show that although women tend to save more than men and are more likely to pay off their credit card balance each month rather than carrying a balance, they gravitate toward more conservative, lower-risk investment options.

Investing time into improving your financial literacy can help you make sound financial decisions for the future. Toro Credit Union has many resources to help you. Stop in or call to speak with one of our financial professionals to review your current retirement savings plan and learn how you can ensure a comfortable retirement.
College Bound

The Mobile Banking, Online Banking, and CO-OP Shared Branch programs allow your student to take the credit union to college with them and access credit union accounts just as if they're at the branch.

Locating a CO-OP SHARED BRANCH is simple:

There's no fee to access your Toro Credit Union accounts at a Shared Branch. This can save you and your college student time and money. Please contact the credit union if you need any assistance getting your student college ready!
Mobile Banking App

24/7 convenience to bank when you want, where you want, and how you want.

Use your mobile device to deposit checks, protect your debit card and send and receive money directly to and from almost anyone.

With the Toro Mobile Banking App, you can:
  • Deposit checks instantly
  • View account balances
  • Transfer funds
  • Pay bills or schedule future payments
  • View detailed account activity
  • Find free ATMs and shared branches

Depending on your phone, you can set up any of the following authentication methods for accessing your account:
  • Voice Recognition
  • 4-Digit PIN
  • Fingerprint
  • Face Recognition

Banking with the Toro Mobile App is easy. Simply download the free app, sign in to your account, and start banking!
For 2022, the Summer Hours
Start on Friday, June 10th &
End on Friday, September 2nd.
Mark Your Calendar

Monday, September 5th - Closed for Labor Day
CONNECT WITH US!

Lobby Hours: Monday - Friday 8:30 am - 4 pm CST
Last Day of Friday Summer Hours - Friday, September 2nd

Call Center Telephone Hours: Monday - Friday 7 am - 8:30 am CST & 4 pm - 7 pm CST
Saturday: 7 am - 4 pm CST
 
Website: www.ToroFCU.org
Lending Email: lending@torofcu.org

Federally insured by the NCUA.   Equal Housing Opportunity.