LCCU News
Free Credit Report
Did you know that you can request a free credit report once a year from the three major credit reporting agencies: Equifax, Experian, and TransUnion? The credit reports are available online at www.annualcreditreport.com or by calling 1-877-322-8228. You may want to request your reports one at a time (every four months) from each of the agencies. Remember, if you order all three credit reports at the same time, you will not be eligible to request them again until twelve months, or one year, has passed since your first request from each credit reporting agency. By staggering your reports, you can monitor your credit throughout the year without having to pay for a report. Note: Your credit score is not included with your credit report. You can purchase your credit score when you request your free annual report for a fee.
Form 1099 and Form 1098
2023 Form 1099
You will be receiving a Form 1099 for 2023 of interest earned on your savings account(s) under a separate mailing before January 31, 2024. You will receive this form if the total interest paid to you was over $10.00. If you use online banking, a copy of your 1099 form(s) will be housed for the whole year under the tab "Statements and Forms". Click on "tax forms" for your copies.
2023 Form 1098
You will receive a Form 1098 if you have a first or second mortgage with us. This form will be mailed to you under separate cover before January 31, 2024. You will only receive this form if the total mortgage interest paid was over $600.00. You will not receive a Form 1098 if the total mortgage interest paid was less than $600.00! If the amount paid was less than $600.00, please use your December 31, 2023, statement for mortgage interest paid for the year for tax reporting purposes. As with the Form 1099, a copy of your 1098 form will be housed in your online banking.
