We are aware of fraudulent letters and emails circulating about Liberty First Credit Union mortgage loans. If you receive an email or letter referencing an “online Foreclosure Registration System” please call us at (402) 465-1000 before taking any action.

We have been made aware that our phone number, 402-465-1000, is being spoofed. Liberty First Credit Union will never ask for your personal or account information by phone, text, or email. If you receive a call that seems suspicious, do not share any information. Hang up immediately and call us directly at 402-465-1000 to verify the call.

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What Is a Share Savings Account and Why Do You Need One?

If you are looking for a financial partner in Nebraska that prioritizes your goals over corporate profits, you may have come across the term “Share Savings Account.” While it might sound like a complex investment term, it is actually the foundation of everything we do at Liberty First Credit Union.

Understanding what a share savings account is and how it differs from a standard bank account is the first step toward achieving true financial independence.

What Makes a Credit Union Different From a Bank?

The primary difference between a credit union and a traditional bank lies in ownership. Banks are for-profit institutions owned by outside stockholders who expect a return on their investment. At a bank, you are a customer.

In contrast, Liberty First Credit Union is a member-owned, not-for-profit financial cooperative. We don’t have outside shareholders. Instead, we exist solely to provide our members with affordable financial services. This “people helping people” philosophy means that our earnings are returned to you in the form of higher dividends, competitive loan rates, and low-cost services.

What Is a Share Savings Account?

When you open a savings account at a credit union, it is called a “Share” account because it literally represents your share of ownership. While a bank account is simply a place to store money, a Share Savings Account at Liberty First Credit Union signifies that you are a part-owner of the institution.

Because we are a democratic organization, your share gives you a voice. Regardless of whether you have $5 or $50,000 in your account, every member owns exactly one share and receives one vote in our Board of Directors elections.

How the $5 Share Works at Liberty First Credit Union

At Liberty First Credit Union, we believe in keeping the barrier to entry low so that everyone in our community can benefit from our services. To establish your membership, you simply need to open a share savings account with a minimum balance of $5.

This $5 deposit isn’t just a fee; it is your “par value” share. As long as you maintain that $5 balance, you remain a member-owner of the credit union and stay eligible for all the benefits we offer. Your savings also work for the community: member deposits create a pool of funds that allows us to provide low-interest loans to other members right here in Nebraska.

What Benefits Come With Membership?

Once you’ve opened your share savings account, you gain access to a full suite of financial products designed with your well-being in mind. Benefits include:

  • Competitive Dividends: Your savings earn returns that help your money grow faster.
  • Lower Fees: Because we aren’t focused on profit, we keep our service fees as low as possible.
  • Local Decision Making: We’ve been serving Nebraska since 1935. We understand the needs of residents in Lancaster and Seward County because we live here, too.
  • A Financial Partner for Life: Once a member, always a member. Even if you move or change jobs, you can keep your Liberty First Credit Union accounts.

How to Open Your Account Today

Becoming a member-owner is simple. If you live, work, worship, or attend school in Lancaster County or Seward County, Nebraska, or if you are related to someone who does, you are eligible to join the Liberty First Credit Union family. You are also eligible if you are part of one of our partner groups.

Ready to take ownership of your financial future? You can open your account online or visit one of our local branches to make your $5 deposit.If you have questions about our services or eligibility, pleasecontact us today. We look forward to helping you reach your financial goals!

Image Credit: MMD Creative // Shutterstock

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Scam Alert! Bitcoin Theft.

The FBI is warning of a rise in Bitcoin ransom scams in which scammers use scare tactics and extortion to squeeze money out of victims in the form of Bitcoin payments.

Fraudsters are leveraging increased fear and uncertainty to steal your money and launder it through the complex cryptocurrency ecosystem, the FBI warns.

Unfortunately, the cryptocurrency payment leaves no room for reclaiming the lost funds.

Here’s all you need to know about these scams and how to best protect yourself.

How the scams play out

In some Bitcoin ransom scams, scammers hijack an email address associated with a business website and contact a client of the business. The email informs the victim that a hacker has found a vulnerability in the company’s website and is holding the victim’s data hostage until a Bitcoin payment is made for its release. The victim, fearing monetary loss, may comply with the scammer and make the payment. In reality, though, the scammer has only hacked into the company’s email database. They have no access to the customer’s sensitive information.

While the scammer can hijack any website that has access to sensitive information, financial institutions are especially vulnerable to this scam. We utilize strict protective measures, like encryption and updated security software to protect our members’ information, but fraudsters may still try to scam members by persuading them that their data is at risk of being exposed.

In another variation of the Bitcoin ransom scam, scammers use “sextortion” to take the victims for money. They’ll claim to have evidence of the victim engaging in questionable internet usage and threaten to share this information with the victim’s contacts unless a ransom payment is made immediately. Some criminals have taken this scam a step further during the COVID-19 pandemic. In addition to the threat of releasing the information they supposedly have on the victim, they’ll also promise to infect the victim and their family with the coronavirus unless a payment is sent to a Bitcoin wallet.

Protect yourself 

Fortunately, ransom scams are easy to spot.

If you receive an email allegedly sent from a business you use, and it contains a message like what’s described above, do not respond. You can contact the company yourself to ask if there has been a data breach. You will likely learn there has not been any sort of breach within the company.

Similarly, if you receive an email threatening to expose your internet usage history and/or to infect you or your family with the coronavirus, do not respond. Mark the email as spam and delete it promptly.

If you’ve been scammed

Unfortunately, cryptocurrency transactions pose an extra risk by being absolutely final. There’s no way to cancel a cryptocurrency payment, back out of a purchase or trace the Bitcoin wallet to its owner.

However, if you believe you’ve been targeted by a Bitcoin ransom scam, you can help prevent others from falling victim by reaching out to the appropriate authorities.

If the scammer posed as representatives of, be sure to let us know! We’ll send out a warning to all our members and caution them not to respond to any emails claiming to have hacked our database or to have accessed our members’ sensitive information. If the scammer is posing as a representative of a different company, it’s a good idea to let them know about it, too.

It’s equally important to alert law enforcement agencies about every scam attempt. The FBI’s Criminal Investigative Division has a team that’s dedicated to preventing and fighting cryptocurrency laundering and fraud. If you are the victim of a cryptocurrency scam or you’ve been targeted by one, be sure to contact your local FBI field office or visit the bureau’s Internet Crime Complaint Center .

You can also alert the Federal Trade Commission at FTC.gov.

Many people are struggling financially. Unfortunately, scammers are trying to make difficult times even harder by extorting victims for money. Stay alert and stay safe!

Tools that help you navigate through your financial questions.

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Should I Buy Out My Lease

Should I Buy Out My Lease

Q: I’m thinking of caving to the hype; should I buy out my lease?

A: With cars in hot demand, they’re selling at all-time high prices. That’s why many lease customers are looking at trade-in values for their vehicles and choosing to buy out their lease. Here’s what you need to know about buying out your lease.

What is a lease buyout?

Buying out a lease involves paying the car’s “buyout price” according to the lease contract, which then makes you the car’s new owner. Buying out a lease makes the most sense when you are nearing the end of your term.  

How can I determine my car’s buyout price?

Look for the term “residual value” in your lease contract. This tells you what your car is expected to be worth at the end of the lease term. To determine your vehicle’s actual buyout price, add the residual value to any remaining payments. For example, if your car’s residual value is $25,000 and you owe another 10 payments of $500, the car’s buyout price is $30,000. 

Will I need to pay any fees in addition to the buyout price?

Your vehicle’s buyout price may be subject to an auto sales tax and your lender may charge additional fees on top of that. Take note of your contract details so you’ll know the true total you’ll be paying before deciding to purchase a leased car.

The good news is that you won’t be accountable for typical lease-end fees, which can include the costs of reconditioning the vehicle and an over-mileage penalty.

What are the advantages of buying out a lease?

Many drivers are opting to buy their leased vehicles due to the current state of the auto industry. Supply is low and buying a car that you already lease will give you first dibs at a hot commodity.  

Some drivers are choosing to capitalize on the high demand of used cars by buying out their leases and then flipping the car to a dealership or selling it privately to a new owner. 

Before taking out a loan to buy out a lease, find out what your car is actually worth now. 

How do I buy out my lease?

If you decide to buy out your lease, run the numbers as described above to be sure it’s a financially responsible decision. When you have the total buyout price, your next step is to work on financing. Then, contact the company you lease from to complete the purchase.

Finally, notify your insurance company about the change in ownership of your vehicle and consider changing your coverage to reduce your premium amount. 

If you’re looking to finance an auto loan for a lease buyout car, look to Liberty First! Our auto loans offer low interest rates, easy payback terms, and a quick approval process. Call, click, or stop by to get started or discuss available options!