The Newsletter for Aerospace Federal Credit Union Members

Transcription

1 Spring 2017 FOR A LIMITED TIME SAVE $299 IN PROCESSING FEES ON FIRST MORTGAGE AND HELOC LOANS Details inside In this issue: Save on Mortgages 2 $100 Checking Gift 3 Auto Buying FAQ 5 Tips for Homebuyers 7 Summer Visa Rewards 10 and much more! The Newsletter for Aerospace Federal Credit Union Members

2 Contents Save $299 on First Mortgage and HELOC Loans 2 Receive $100 for Switching to AFCU Checking 3 Cashback Offers Included with Your Account 4 Auto Buying Frequently Asked Questions 5 Helpful Tips for Recent Homebuyers 7 Check Out Our Stellar Youth Products 9 Summer Travel Rewards for Visa Cardholders 10 Calendar Reminders Memorial Day May 29 (Branch Closed) Independence Day July 4 (Branch Closed) AFCU Open on Saturday July 15 (9:00 a.m. 1:00 p.m.) Labor Day September 4 (Branch Closed) New Responsive Website Design Coming Soon We are excited about the launch of our new website coming soon! The design of the site will have a fresh look, but will also be responsive to the size of your screen or browser. This means the layout will automatically adjust to whatever computer, laptop, tablet or mobile device you are using and create a better user experience E. El Segundo Blvd. El Segundo, CA (800)

3 1 Save $299 on First Mortgage and HELOC Loans Spring is the season for new beginnings, new projects, home renovations and home buying! AFCU wants to help you achieve your goals. In that regard, we are waiving our $299 processing fee on First Mortgage or Home Equity Line of Credit (HELOC) loan applications that are received between April 15, 2017 and July 15, 2017.* Take advantage of this outstanding offer and realize the following benefit: Home Equity Line of Credit (HELOC) $299 in processing fees waived Keep your existing low First Mortgage fixed rate loan Borrow from $20,000 to $200,000 Use the funds for whatever you like (remodeling, tuition, dream vacation, etc.) 10 year draw period 20 year repayment period (after draw period ends) No annual fees Personalized service Rates as low as 3.75% APR** 2 First Mortgage $299 in processing fees waived (standard fee $699) Competitive low rates Low cost to members Personalized service 3 First Mortgage & HELOC Combo $299 in processing fees waived Single application Pay for only one appraisal Less paperwork Competitive low rates Personalized service For more information about these loan products, and to apply online, visit Check current rates at (click on Home Loans link). To speak with a mortgage team member, call , option 7. *AFCU processing fee of $ is waived on AFCU Home Equity Line of Credit (HELOC) or First Mortgage loan applications received between April 15, 2017 and July 15, Third party fees still apply. ALL LOANS MUST CLOSE AND FUND BY SEPTEMBER 15, **Rates expressed as Annual Percentage Rate (APR). Rates current as of May 1, Offer, Rates and Terms are subject to change without notice. All loan requests are subject to credit approval. Federally insured by NCUA 2

4 Receive $100 for Switching to AFCU Checking Open an AFCU Fee-Free Checking Account, make a direct deposit of $500 or more and make 5 debit card transactions by July 15, 2017 and you will receive $100 deposited into your new AFCU Checking Account.* Your AFCU Checking Account not only comes with absolutely NO FEES, it also comes with AeroAccess, our Online and Mobile Banking products that give you the ability to manage your accounts at AFCU and other financial institutions all in one place! Features of AeroAccess include: MoneyDesktop - Manage all your accounts in one place, including non-afcu accounts Check Deposit - Deposit checks using the camera on your smartphone or tablet or with a scanner Apply for a Loan - Submit a loan application for a credit card, vehicle loan or personal loan in minutes Bill Pay - Pay your bills and view payment history E-Statements - View your statements online or on your mobile device Send Money - Send a Person-to-Person payment to a recipient of your choice using only their address or cell phone number (Mobile Banking only) And much more! *In order to qualify to receive the $100.00, AFCU members must open an AFCU Checking Account. The Checking Account must be new, with no prior checking history at AFCU for the member. The AFCU Checking Account must have received at least one recurring direct deposit of $ or more and at least 5 debit card transactions between May 8, 2017 and July 15, Once the direct deposit and 5 debit card transactions have been confirmed, the $ will be deposited into the AFCU Checking Account after August 21, Offer subject to change at any time without notice. 3

5 Cashback Offers Included with Your Account Are you aware that you can get paid for using your AFCU debit card? When you login to AeroAccess and view your Checking Account, you will see My Cashback Offers at the top of the page above your Checking Account transaction history. These offers are generated based on your debit card transactions through a random identification number so none of your personal information is ever shared. To take advantage of an offer, just click to accept and then use your debit card as you would normally at the merchant and the offer is automatically redeemed. Any cash back earned is paid to your checking account on the last day of the following month from when the offer was redeemed. You don't have to do a thing! Managing your Cashback Offers is easy! When you click on "View All Offers" you will be presented with the "Your Rewards Program" screen that shows all your available offers. To activate an offer, click on the merchant logo and the offer will be moved to the "Shop using your AFCU Debit Card" section. For more details about offers and rewards, you can click on the "Expired Offers" and "Rewards Earned" tabs. You can view all of your offers by clicking on the "View All Offers" button from the Cashback Offers section at the top of your Checking Account History. Not interested in receiving offers? No problem, just click on the "Stop Receiving Offers" link and offers will no longer be displayed for you. The option is yours if you decide to take advantage of this benefit at a later date. 4

6 Auto Buying Frequently Asked Questions As an Aerospace Federal Credit Union member, you have access to both great auto loan rates and a better car buying experience with Autoland to help you shop smart and drive away happy with the right car for you. Autoland works for you and is designed to make your car buying rewarding by saving you both time and hassle. Q. Who is Autoland and how does the service work? A. Since 1971, Autoland has helped credit union members find their perfect car at a fair price. Your personal Auto Buying Concierge will do all the work to find the car and options you want, secure a fair price and coordinate your AFCU auto loan. They ll even deliver your vehicle to your work or home! Q. Why should I shop with Autoland? A. With Autoland, there is no need to search all over for the perfect car only to settle for something less and haggle for hours over price. With Autoland, you ll get the vehicle you want at a great value, including all available manufacturer incentives. There s absolutely no obligation and your personal Auto Buying Concierge is available to help you regardless of where you buy your next car. Q. Don t most people just shop online now? A. If you re looking to shop for your next car online, Autoland has you covered! Visit their web site at Autoland.com to research and compare new vehicles or search thousands of pre-owned cars. Q. Do Autoland s pre-owned vehicles come with a warranty? A. Pre-owned cars purchased from Autoland s dealer partner network come with a standard 3-month/3,000-mile, limited powertrain warranty with $0 deductible. There s also a 3-day/300-mile, money-back return policy with no restocking fee for additional peace-of-mind. Q. I have a trade-in can Autoland help? A. Absolutely! Autoland will help you sell your current vehicle even if you don t purchase your next car from them. 5

7 When you re ready for your next car, connect with Stephanie Dunn, your personal car Auto Buying Concierge for Aerospace Federal Credit Union members. For a no-obligation consultation with Stephanie Dunn, call today! It was a great car buying experience. The process was easy, quick and pain-free. Evelyn W., AFCU Member 6

8 Helpful Tips for Recent Homebuyers Buying your first home is a major milestone. There s nothing quite like the giddy rush that comes from knowing you could paint a wall fluorescent pink or cover the cabinets in peanut butter and no one could legally stop you. You ve also got a new and substantial investment you need to maintain. Weighing the freedom against the responsibility is a delicate balancing act, and doing it successfully is part of what being a homeowner is all about. There are a number of upcoming firsts for new homebuyers. Since you ve just come up with a down payment, you might think your biggest hurdle of financial responsibility is over. However, that s not the case. Check out these common homeowner situations to help you best prepare for them. 1.) Something major breaks As a renter, if the refrigerator stopped running, you only had to concern yourself with keeping your food cold until the landlord fixed it or bought a new one. Also as a renter, major plumbing problems in your building can be a hassle, but easily survivable. The first time something major, like an appliance, structural element or major system breaks in your home, you can be in for a staggering amount of work and stress. If you re counting on homeowner s insurance or a home warranty to cover you, check your policies carefully. Most home warranties end at the walls of your house, and insurance won t cover damage outside of a disaster. Everyone you might turn to for assistance will be looking for reasons not to help you. If you need to do significant work on your home, like a large-scale plumbing repair, you ll probably have to pay for it yourself. Events like these will happen sooner or later. The only way to be prepared is to practice self-insurance. Start building a home repair and renovation fund, and build major expenses into your regular monthly budget. When you spread these expenses out over the course of months, rather than trying to pay for them all at once, they ll be much more manageable. As a guideline, expect to spend 1-4% of the value of your home in repairs and maintenance every year. 2.) Costs increase When considering a budget in your new location, it s tempting to just move the money you were spending on rent into a mortgage payment. However, your housing costs aren t the only thing that s likely to go up. If you re moving from a smaller apartment into a larger house, utility costs will increase. If you re going from a relatively new apartment building into an older house, appliances won t run as efficiently, and seals around doors and windows won t fit as snugly. It s not just utilities, of course. Transportation costs may also increase if you ve moved farther away from work or other places you frequent. Having a larger kitchen might encourage you to cook and entertain more, putting pressure on the grocery budget but saving on your restaurant spending. Lawn maintenance and landscaping costs may make an appearance on your budget for the first time. A lot of costs will go up as you transition to a new lifestyle. 7

9 Spend your first month in your new locale documenting your expenses. This is the best way to build expectations for what your new living expenses might look like. If, after a month, your expenses are too high, you ll have a better idea about where you can make cuts. 3.) Tax bills come due Property taxes are a once- or twice-a-year expense that can really wreak havoc on your budget. While many mortgage companies maintain an escrow account for these costs and include them in your regular mortgage payment, many homeowners are on their own when it comes to tax time. If that s the case for you, start doing research to determine what your tax bill might look like. This is another expense that becomes manageable if you break it into a monthly cost. The U.S. average property tax bill is just under $3,000. That s about $250 per month. That might be a challenge to set aside, but it s still better than being blindsided with the full amount. 4.) Maintenance requirements increase There are dozens of things around the house that most people don t think twice about. Items like water supply hoses, smoke alarms and toilet bowl seals all decay with time. Many of these things can cause damage to your house if they don t work properly. Start making a list of chores that need to be done monthly, weekly or less frequently. Split up those duties to make sure no one has to do it all by himself. Keep a spreadsheet or some other document so you know the last time maintenance was performed on major items in your home. Remember, an ounce of prevention is worth a pound of cure. Fix little problems before they turn into big ones! 8

10 Check Out Our Stellar Youth Products There is no better place to help kids and teens achieve their financial goals than with a financial institution their family members already know and trust. Take advantage of the products below for your family today! To check rates and apply online visit Space Explorer Account (Minor Share Account): Similar to our Regular Share Account for adults, the Space Explorer Account is the gateway to our full suite of youth products and can be established with a $5 initial deposit. Accounts are held in the name and Social Security Number of the child or teen. This account features an attractive split rate dividend tier (the higher your balance, the higher your dividend rate) and is open to all members under age 18. Membership includes many benefits, including an annual birthday card for the account holder. Super Nova Account (College Saver Share Certificate): With a low $500 minimum initial deposit, this deposit-only share certificate is the perfect account to start saving for higher education! The certificate is subject to a rate change annually and reaches maturity at their 18th birthday. You may make deposits anytime, as often as you d like, as long as you meet the $200 minimum add-on deposit requirement. Galaxy Account (Checking Account): A fee-free checking account is available for all young adults age 12 and older (with a parent or guardian co-owner). This account features a debit card and shares the same great features as our Regular Checking Account. Student Visa Credit Card: With credit limits from $100 $1,000 and a low 10.9% APR*, this is the perfect credit card to help establish credit and learn about money management. The AFCU Student Visa is available to young adults age 12 and older (with a parent or guardian co-signer), and allows members with little or no credit history to qualify. The AFCU Student Visa has no annual or cash advance fees. Launch Pad Loans: Auto loans are available to young adults age 16 and older (with a parent or guardian co-signer). These low-rate loans can help establish credit history and payment responsibility for your kids. Custodial Account: In addition to our Space Explorer account, we offer a traditional custodial account. With an approved membership application and an initial deposit of $5, an account will be established for the minor that can be converted to a Regular Share Account after the child reaches age 18. The Custodial Account has no investment term and has the same rate structure as our Regular Share Account product. *APR = Annual Percentage Rate. Rates and terms subject to change without notice. 9

11 Summer Travel Rewards for Visa Cardholders Don't forget to use your AFCU credit card during your summer vacation! AFCU is once again offering Bonus Rewards on travel purchases made with an AFCU Platinum Visa Credit Card between June 1, 2017 through August 31, Earn Double Bonus Rewards* on hotel, airline, travel agency or tour company purchases with your AFCU Credit Card this summer. Plus, earn Triple Bonus Rewards* on cruises and rental car purchases with your AFCU Credit Card during those same months. Wherever you decide to go, you'll be rewarded for using our card remember that AFCU Platinum Visa Credit Cards have no international fees. So have an outstanding summer and enjoy the additional rewards while creating lasting memories! PLATINUM VISA CASH BACK CREDIT CARD Earn 3% cash back on all cruise, train & rental car charges Earn 2% cash back on all hotel, airline & travel agency charges Earn 1% cash back everywhere else and all year long PLATINUM VISA REWARDS CREDIT CARD Earn 3 points per $1.00 spent on all cruise, train & rental car charges Earn 2 points per $1.00 spent on all hotel, airline & travel agency charges Earn 1 point per $1.00 spent everywhere else and all year long Both cards offer the following extra benefits: No Annual Fees No International Use Fees No Cash Advance Fees No Balance Transfer Fees Credit Limits up to $20,000 $100,000 Travel Accident Insurance 25 Day Grace Period for Purchases 24-hour Customer Service *Bonus Rewards offer good only on purchase transactions conducted June 1, 2017 August 31, Cash advances and balance transfers do not qualify. Rewards will be posted to your account at the close of each billing cycle. Fees and finance charges do not earn points. Rewards subject to change at any time without notice. Bonus rewarded only to members in good standing and current on their Visa payments. 10

12 2310 E. El Segundo Blvd. El Segundo, CA Presorted STANDARD U.S. Postage PAID WC Cut out and mail in to win! Youth Corner: Win a $25 gift card! * Have fun completing our coloring contest! Congratulations to the winner from our Fall 2016 issue Mia H. from Torrance, CA. Name Age Address Phone *Official Rules: NO PURCHASE NECESSARY. VOID WHERE PROHIBITED. Mail in your completed artwork, along with your name, age, address, and phone number to be entered to win a $25 gift card! Limit one entry per child. One winner will be selected randomly and notified using the phone number provided. Odds of winning depend on number of entries received. Entries must be received by June 30, AFCU is not responsible for lost entries. Must be younger than 18 years of age to enter. You may photocopy this page to use if more than one child in your family wishes to enter. AFCU employees, board members, committee members, volunteers and their immediate families are not eligible to participate. First name and first initial of last name of winner may be published online or in print. Submit entry to: AFCU, Attn: Youth Contest, 2310 E. El Segundo Blvd., El Segundo, CA