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5 Money Saving Tips for College Students

Many college students struggle with managing their finances as they begin to explore the freedom of living away from home. While being financially independent is a great achievement, it takes time to figure out how to balance a budget.

To help you figure out the best ways to save money, we’ve put together a short list of the top money saving tips for college student.

  1. Choose e-books over paper textbooks. When you have to buy a paper copy, buy or rent used textbooks instead of purchasing them new. And don’t hang on to that Biology textbook from freshman year, sell it back as soon as the semester is over to get the biggest return.
  2. Instead of going out, look at your school’s event calendar for free entertainment. Many schools have events all year round including outdoor music, improv comedy groups, movie nights – and a lot of these events include free food! This will save you from spending money on food and drinks at the local off-campus hangouts.
  3. Take advantage of student discounts. Did you know that you can save 50% on Amazon Prime when you sign up with your school email address? Use your school ID to save on everything from clothes to travel to your cell phone plan.
  4. Trade your car in for a bike or the bus.  Owning a car comes with a lot of extra expenses like insurance, unexpected repairs and costly parking passes. But trading that car in for a bike or a student bus pass can help you save. Universities often offer free or reduced bike repair services as well so you can get your brakes or tires checked at little or no cost to you.
  5. Use your meal plan or make food at home.  Going to the coffee shop between classes adds up. If you have an unlimited meal plan, try to go to the dining hall for your meals and coffee breaks. If you can’t make it to the dining hall every time, invest in a small coffee maker and mini-fridge to store easy to make snacks and meals.

Bonus Tip! Open a student checking account with low or no fees. Credit Unions, like Common Trust Federal Credit Union, have lower fees and offer great packages for college (and high school) students. Visit our Student Package page to see the benefits of banking with your local credit union. Take your savings one step further by opening an interest bearing savings account and putting $10 or $20 into it at the beginning of every month.

CTFCU’s 52nd Annual Meeting

Common Trust Federal Credit Union 52nd Annual Meeting was held on June 19, 2018

The Annual Meeting was held on Tuesday, June 19, 2018 beginning at 4:30 pm at the Credit Union 8 Cedar St., Woburn, MA 01801.

Members had the opportunity to listen to reports regarding the state of the credit union and learn about the new initiatives that the credit union will be presenting to the membership in the coming months.  The credit union also awarded two scholarships to graduating high school seniors and announced the bike winners of our youth club promotion.

Because there were only three (3) nominations for three (3) spots there was no need for an election. A motion was made and second by members in attendance to accept the three (3) nominees to serve on the board. We would like to welcome the following people who will serve a three (3) year term; Carolyn Flaherty, Vincent Rivela and Kathleen McSweeney!

Is It Time to Consolidate Your Debt?

Do you have multiple credit cards with varying interest rates? Many people find themselves in this situation, where they struggle to juggle multiple lines of credit while figuring out which one to pay off first.

Consolidating your debt into one loan can help make your payments and budgeting more manageable. The best time to do so is when interest rates are low. This allows you to save money by moving your debt to a lower interest loan.

For example, if you owe $5,000 in credit card debt at a 19% interest rate, and you qualify for a personal loan at 12%, you could save $350 per year on interest alone when you consolidate your debt.

Take advantage of our Debt Consolidation Loan Promotion, going on until May 31st, and take back control of your debt.  To find out more about this promotion, stop by Common Trust Federal Credit Union today or call us at 781-933-2600.

New Spring Promotions!

Common Trust Federal Credit Union is excited to announce three new promotions being offered from April 1st to May 31st.

The details and restrictions for each promotion are as follows:


Youth Account Promotion

April 1st – May 31st

Teach your children the value of saving at a young age. Open a youth account and be entered into a raffle to win a new bike!


  • Must be ages 6 – 15.
  • Child must be a student at Woburn Public Schools OR has a relative that is a current CTFCU member.


Debt Consolidation Loan

April 1st – May 31st

  • Rate as low 10.49%*
  • Term is up to 48 months
  • Maximum loan amount is $7,500
  • Credit Union must pay off existing debt
  • Money can’t be used to pay-off existing debt at Common Trust Federal Credit Union
  • *Member must qualify for rate (counter offer can be made)


Credit Builder Loan

April 1st – May 31st

  • Rate as low 8%*
  • Term is up to 9 months
  • Maximum loan amount is $500
  • *Member can’t have past credit or credit score

Follow Us on Social Media

We are happy to announce that Woburn Federal Credit Union now has various accounts on social media!

Be sure to follow us in order to stay updated on news, event and other important information from CTFCU!





CTFCU Funds Woburn Students to Attend DECA State Conference

Three local 10th grade students from the Woburn Memorial High School are heading to the statewide DECA competition thanks to two generous donations by CTFCU. There they will have the opportunity to develop business strategies and compete to win various awards.

DECA is an international organization that prepares students to become emerging leaders in various business careers through competitive events, professional development, and leadership conferences. These events empower students to exercise their soft skills as well as their critical thinking and creativity.

DECA’s High School Division includes 200,000 members in 3,500 schools. Jennifer Keenan, a teacher at Woburn Memorial High School, wanted to take advantage of the opportunity for her students to participate in this program. With the help of an initial donation from CTFCU, Keenan could begin the first DECA chapter in Woburn with six of her top 10th grade students.

The students seen (Anthony Colombo, John Kyle, Ashley Danizio, Sierra Bazzarella, Kelsey Doherty, Zachary Willis) attended their first DECA conference in December 2017. They competed against district 4 towns including Andover, Bedford, Burlington, Greater Lawrence Tech, Natick, Needham, Newton North, Newton South, Rivers School, Somerville, Weston, and Wilmington.

After their first-time success at the district conference, Woburn will move on to the state competition on March 8th to March 10th at the Copley Marriott in Boston. Teams were required to raise $2,500 to participate in the next round of events. On February 14th, James McCorkle, president of CTFCU, and Frank Harmon, VP of Finance, visited the high school and presented the students a check for the full amount.

“We are happy to support the inaugural DECA Program at Woburn Memorial High School. The success that these students achieved at the district competition is a testament to the hard work they and Mrs. Keenan have put in to starting this program,” Says McCorkle. “We look forward to continuing to support this and other programs that help high school students prepare as they move on and we wish the Woburn Memorial High School DECA team best of luck in the upcoming State Competition.”

The extraordinary support from Common Trust Federal Credit Union allows three Woburn students (Anthony Colombo, John Kyle, Zachary Willis) to attend the next event filled with leadership activities, competitions, and entertainment. With approximately 175 community and business volunteers judging the competitors, students will have the opportunity to win several accolades as well as further advance to the International Career Development Conference.

Article Featured on Woburn’s Wicked Local

SiriusXM® radio – Free 3 Month Trial

CTFCU have partnered with Sirius XM to offer a 3 month free trial to our members with used auto loans. This program is no cost to you and no obligation to continue after the trial. Your vehicle must be equipped with factory installed satellite radio and you must not have participated in a free trial within the last 12 months. That is all there is to it! Also you don’t need to be in your car to enjoy Sirius XM. Streaming online and the Sirius XM app are included. If you have any questions, please contact us or stop in our lobby. We are very excited to offer this new program!

Get 150 channels of awesome! Let’s get started!


Online Mortgage Application Now Available!

Common Trust FCU now offers MortgageClick®, our online mortgage center. MortgageClick allows credit union members to apply for a 1st mortgage and receive a loan decision, from anywhere with an internet connection 24/7. We offer exceptional personal service, fast decisions and a vast array of competitive rates and products. If you’re a first-time home buyer, or refinancing your existing mortgage, we have a loan at a great rate, right for you.

We are a full-service mortgage lender and will make the process fast, easy and convenient!

Click the button below to check out MortgageClick!


Share The Benefits

The Common Trust FCU offers free checking with no minimum balance requirement and no monthly service charges, the only time there would be a charge is if there were NSF’s or returned checks. Open a checking account today with direct deposit, you’ll be glad you did! Stop in today and let our family take care of yours.

Tired Of Paying Bills? Let Your Common Trust FCU Do It For You!

Okay, so your credit union can’t actually supply the funds to pay your bills. We can, however, eliminate the stress and time constraints associated with doing so. The service is called Electronic Bill Payment, and will be available to members who have a credit union checking account!

Electronic Bill Payment (EBP) can make it simple and convenient to pay your monthly bills. All you will have to do is verify that the amount you have been billed is correct, and then schedule the payment. We will do the rest!

You will be able to schedule recurring payments of the same amount (e.g., mortgage), and by retaining the contract information of the payee, your bill payment history will speed the process of paying billed amounts that vary from month to month (e.g., credit card).

Payments should be requested no less than five business days prior to a bill’s due date to ensure they are received on time.

Please sign up now, Bill Payment is now being offered at your credit union, stop by the credit union or give us a call at 781-933-2600. Feel free to print the form below and bring into the credit union.

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