Third Annual Million Dollar Community Challenge runs through Oct. 31
TINTON FALLS, NJ (August 1, 2013) -- United Teletech Financial Federal Credit Union (UTF) is challenging the community and its members to save interest expense while also helping local charities in its Third Annual Million Dollar Community Challenge (MDCC).
The MDCC aims to save members $1 million in interest expense before Oct. 31, 2013. The Challenge also brings money back to the community through charitable donations.
Once the MDCC’s $1 million goal has been reached, UTF will donate to four local charities. Charities involved in this year’s MDCC include Big Brothers Big Sisters of Monmouth & Middlesex Counties, Clean Ocean Action, The Arc of Monmouth and The FoodBank of Monmouth & Ocean Counties.
Members can save interest to contribute toward the $1 million goal with the TimeShifter mortgage loan or the Cut The Card personal loan. The TimeShifter mortgage helps shorten debt duration by reducing the length of the mortgage term. The Cut The Card loan is for those who need to consolidate high interest credit card or personal debt at a lower interest rate with a fixed rate and term.
UTF will determine how much money it will donate to the participating charities based on how much interest individuals save.
“Essentially, the more money members save on interest expense, the more money we [UTF] will donate to charity. It’s really a win-win for everyone. You save money, we donate to charity,” Leo R. Ardine, President/CEO of UTF, said.
Charities can also earn an additional $500 from UTF by winning the MDCC People’s Choice award. The public can vote for their favorite charity online at JerseySaves.org.
Last year’s Challenge saved members more than $1.8 million and donated more than $18,000 to charities. Since MDCC’s beginning in 2011, more than $31,000 has been donated to charities and members have saved more than $3.6 million in interest expense.
For more information on the MDCC or to get involved visit JerseySaves.org, call 866-462-5532 or stop by any of UTF’s branches in Holmdel, Middletown, Marlboro, Neptune, North Brunswick or Tinton Falls, N.J.
United Teletech Financial (UTF) is a not-for-profit credit union serving members in central New Jersey. Founded in 1967 to meet the needs of Bell Labs employees, the credit union has grown to over 380 sponsor companies. Under a community charter granted by the National Credit Union Administration in April 2005, UTF now offers membership to residents in Monmouth and Ocean counties and parts of central Middlesex County. For more information, visit www.utfinancial.org.