Swipe. Sign. Save. Fall In this issue: The Newsletter for Aerospace Federal Credit Union Members

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1 Fall 2010 Swipe. Sign. Save. In this issue: Who Owns Your CU? 3 Mortgage Update 4 Safety at the ATM 6 Back to School 10 and much more! The Newsletter for Aerospace Federal Credit Union Members

2 Contents Swipe. Sign. Save. 2 Who Owns Your Credit Union? Satellite Scholarship Winners 4 Say Good Bye to Safety at the ATM 6 Product Spotlight: Platinum Visa Rewards Credit Card 7 Win a Trip to the Super Bowl 8 AFCU s 50th Anniversary 8 Auto Buying for Members 9 Visa Gift Cards 10 Back to School Bonus 10 Youth Corner 11 Holidays (Branch Closed) October 11 Columbus Day November 25 Thanksgiving November 26 Thanksgiving Holiday December 24 Christmas Eve Buy Your Holiday Gift Cards Page E. El Segundo Blvd. El Segundo, CA (800)

3 Swipe. Sign. Save. Get rewarded for using an AFCU Visa debit card. Although debit cards are more commonplace than they were a few years ago, we still get questions from members regarding the best way to use their card. The confusion lies in the choice between debit or credit at checkout. When debit is selected, shoppers are asked to enter their Personal Identification Number (PIN) on the keypad to pay for their purchase and, depending on the retailer, given the option for cash back. When credit is selected, shoppers sign for their purchase instead of entering their PIN number. The time it takes to complete both transactions is almost identical, but there are significant differences in the protection you receive. Selecting credit and signing for your purchase gives you chargeback rights, which give you an added layer of protection in the event the item you purchase is defective or there is a dispute with the merchant, while using your PIN does not. Using your card as credit is particularly beneficial for large purchases for this very reason. Because of that added layer of protection we encourage you to sign for purchases as often as you can. If you don t have an AFCU Checking Account, now is the time to sign up. Increase your benefits of membership by opening a Checking Account and start using our debit card. Between October 1, 2010 and December 31, 2010, all AFCU debit cardholders are eligible to earn cash rewards when they select credit to complete their purchases. We ll reward every member who uses their card with cash deposited straight into their AFCU Checking Account each month*. Use the cash rewards however you choose lunch with a friend, tickets to the movies, your daily cup of coffee or a contribution to your vacation fund the choice is yours. Monthly total credit spending levels and corresponding rewards are as follows: Spend between $ and $ and earn $5.00 Spend between $1, and $1, and receive $10.00 Spend $1, or more and you get $15.00 Open your AFCU Checking Account today and begin to reap the benefits of the cash rewards already being enjoyed by thousands of other members. In addition to earning up to $45.00 in cash rewards, you ll enjoy the countless other benefits of having an AFCU Checking Account such as no monthly fee or minimum balance requirement and surcharge-free access to your account at more than 28,000 CO-OP Network ATMs nationwide. So apply, swipe, sign and save today! SWIPE Your Debit Card. SIGN Every Time. SAVE Some Money! *Must be 18 years or older to participate. To qualify, point-of-sale signature transactions must be made using your AFCU Visa Debit card (excludes ATM and PIN-based transactions) during each month of the promotion period (10/1/10 12/31/10). Select credit, not debit to qualify. Transactions must post to your account by the last day of each promotion month to be counted towards that total month s spending and be Signature-based. A qualifying purchase does not include any purchase made using your personal identification number (PIN) or any purchase you initiate through identification technology that substitutes for a PIN. Do not use a PIN when paying for your purchase if you want them to be eligible for this promotion. Signature transactions will be totaled each of the three months and rewards disbursed every month based on the three tiers noted. There will be no reward given for spending under $ in a promotion month. Cash rewards will be deposited to cardholders AFCU Checking Account no later than the 15th day of the month following the month the credit was earned. Reward based on account, not number of cardholders per account. Promotion is not transferable. Maximum $45.00 total bonus awarded per AFCU Checking Account (up to $15.00 per month October, November and December). Member s account must be open and in good standing at the time the reward is applied. Terms subject to change without notice. 2

4 Who Owns Your Credit Union? On the surface, credit unions and banks may look alike. Most consumers think the two are one in the same, but there s a critical difference that affects virtually every aspect of service at your financial institution: banks exist to make profits and pass that money along to their shareholders. Credit unions are not-for-profit organizations that exist to serve their members. Small difference? Not when you consider how ownership can impact the relationship between you and your financial institution. Banks make money off of their customers, and they are obliged to do so. As for-profit businesses, their responsibility is to their shareholders When they set fees and rates, they must build in a healthy profit margin. This is great news for shareholders, but not necessarily for bank customers, who usually end up footing the bill. Credit unions take the opposite approach. Aerospace Federal Credit Union is a not-for-profit institution that is owned by and for the benefit of its members. Instead of making shareholders wealthy, we set our rates and fees at levels that are advantageous to you. Whether you re considering a deposit account, securing a home loan, or using one of the 28,000+ surcharge-free CO-OP Network ATMs available to you as an AFCU member, you can be sure that you are getting the best possible value. This isn t just a slogan or a marketing strategy for us. In the same way that banks are obligated to serve their shareholders, credit unions are responsible for providing the very best products and services to their members without adding in a profit. Our members own AFCU, not shareholders, says Nancy Wood, Vice President of Member Service. Many banks offer competitive products, but their ultimate goal is to profit off their customers, rather than service them. We look out for the best interests of our members. At AFCU, we re extremely proud of the financial products and services we offer, but we re equally proud of the service we provide our member-owners. Our Member Service Representatives go far beyond the usual customer service. They get to know members on a first name basis and act as the first line of defense against fraud by reaching out to members when they notice items on their accounts that are out of the ordinary. Consider the credit union difference when choosing who you open your next savings or loan account with, or where you set up accounts for your children or grandchildren. 3

5 Congratulations 2010 Scholarship Winners! Congratulations to our five 2010 Satellite Scholarship winners! Each student received $500 to help further their education. Applications were submitted by several outstanding high school seniors and we are pleased to announce the following winners: Alexander A. Cassandra I. Naomi S. and Marvin L. Thomas President/CEO William (Billy) G. Tatiana A. Say Good Bye to 2010 By Ed Casanova, VP of Real Estate Lending What a difference a year makes! Last year at this time we were seeing the lowest mortgage rates in over 40 years thinking it would not happen again for a generation or two. Then, without much fanfare, thirty-year mortgage rates started falling; they dropped from more than 5.00% to 4.75%, 4.50%, 4.25%, 4.125%, and finally 4.00%. Fifteen-year mortgage rates blazed the same trail, falling from 4.625% to 3.50%. Certainly members will be able to tell their children and grandchildren how the first decade of the new millennium produced unprecedentedly low mortgage rates; which allowed them to set aside funds for a college education, a wanted extra bedroom, or a down payment for a bigger home to accomodate a growing family. The Credit Union appreciates the enthusiastic support it has received from members as mortgage rates plummeted to historical lows. And it wants to thank all members for their calls, questions and participation in one of the Credit Union s most successful product offerings. (Continued on next page) 4

6 (Continued from page 4) The question now is what s next? As mortgage rates fell and member demand ratcheted up, the Credit Union had to put on hold the development of a number of new loan programs, including a new home equity line of credit, a first time home buyer s program, and a relocation loan program. The Credit Union looks forward to revisiting these products and seeing how they, and other new loan products, may fit into a member s financial and home buying needs. A major focus will be on mortgage loan products that compliment today s low rate first mortgages (e.g., allowing a member to keep their first mortgage loan while using the equity in their home for important needs). In addition, the Credit Union expects the next few years to be challenging for both first-time and move-up home buyers, those seeking to remodel or renovate an existing home or members who have an unexpected financial predicament (e.g., a health or family problem, layoff, etc.) Also, aging adults are expected to face difficulty tapping equity they may need to pay for retirement, health problems, or a vacation they worked so hard for. The Credit Union s new loan products will seek to deliver low-cost solutions at affordable rates with reasonable terms. As we approach year end, do not forget about taxes and the holidays. For extra tax savings, consider making an extra loan payment before year end. And, if you need some extra cash, you may want to consider the Credit Union s existing low-rate home equity line of credit. It s easy to use, payments are affordable, and you can draw any amount you need or just keep it safely tucked away for a rainy day. Call one of the Credit Union s friendly and knowledgeable loan counselors and explore your options. Finally, watch for new product announcements in the coming months. Take advantage of the Credit Union s low interest rates, low costs, and great service. We re here to serve you! 5

7 Safety at the ATM Using an ATM is an indispensable convenience, so we want to provide you with some pointers to help make sure you stay safe when conducting transactions on-the-go. ATMs have been used successfully by hundreds of millions of Americans during the past three decades. In fact, millions of ATM transactions take place safely on a daily basis, which is great news for ATM users who have no intention of giving up their 24 hour access to funds for a visit to a branch. However, there is no such thing as too much safety when using an ATM. Taking a little extra time and planning to find ATM locations that are carefully-situated and security-oriented will not only make your experience safer, but also more relaxed. Thank You Members! Thank you to everyone who participated in Miracle Jeans Day on September 15, With your help we were able to raise $1,290 for Children s Miracle Network as part of the Credit Unions for Kids program! Aerospace Federal Credit Union goes the extra mile to make sure members have access to the largest network of ATMs nationwide. The CO-OP Network has more than 28,000 surcharge-free ATMs, but simply offering our members widespread access is not enough, says Marvin L. Thomas, President/CEO. We re also pleased to belong to an ATM network that prides itself on convenient, well-lit locations, so that our members can make safer choices while still visiting a fee-free ATM. Following a few basic guidelines can also help: 1. Never use an ATM unless you feel completely comfortable. Whether it s a dark street or suspicious people lurking nearby that have you feeling nervous, following your gut is better than risking your safety. Be aware of your surroundings and be cautious of strangers. 2. Don t accept help from people you don t know, and make sure no one is observing you when you enter your PIN number. 3. Choose locations that are visible and have lots of traffic. If you can, combine your trip to the ATM with some friendly shopping. Thanks to CO-OP Network s partnership with 7-Eleven stores, it s now possible to access your account while picking up a soda and a bag of chips. To find a fee-free CO-OP Network ATM or a Shared Branch close to you, visit and click on Find an ATM or Branch to use our NEW interactive map locator. 6

8 Product Update: Platinum Visa Rewards Credit Card and estatements Two years ago, our team sought to create a credit card that would offer our members the same great benefits they had grown to love over the years, with a few more features that would make it one of the strongest credit cards among all of our competitors. In April 2009 we launched our Platinum Visa Rewards Credit Card and the response from members has been overwhelmingly positive. All members, regardless of credit score and whether or not they carry a balance, enjoy the same great rate 10.9% APR.* But, perhaps the best features are our straightforward fees (or lack thereof). We do not charge an annual fee, even though it comes with an OUTSTANDING rewards program that allows you the opportunity to earn rewards faster, and for less points, than other rewards cards. There s also no cash advance fee, and our no over limit feature saves you money and keeps you within your budget. And should you be faced with making a late payment, our fee is below market and forgiving. This past summer, we took time to once again review our products. Based on member feedback and the growing trend to migrate from paper to paperless statements, in September we launched estatements for all of our Visa credit card holders. This new feature is safe and secure, and helps reduce the threats faced by those receiving paper statements, such as mail fraud identity theft. It takes less than five minutes to make the switch. Start saving yourself time today! If you already have a Platinum Visa Rewards Credit Card, sign up for estatements online using the AFCU Pay My Visa website: Login using your username and password. Once you ve been authenticated, click on the Go Paperless banner or choose the Online Services tab at the top of the page. On the Online Services page, select Get estatements from the list of options and verify your address. Similar to our savings account statements, you will receive an notification every month when your statement is ready to view online. You can view each statement for accuracy, print or download for your records. If at any time you want to return to receiving paper statements, you can do so using the Online Services tab. If you re looking to eliminate clutter from your wallet, now is the time to apply for an AFCU Platinum Visa Rewards Credit Card and get rid of your other credit cards. If you re worried about lowering your credit score, you have nothing to worry about. In most cases, you can keep one or two other lines of credit open in case you need them in the future, but transition daily use to your new AFCU Platinum Visa Rewards Credit Card. By keeping a few open, you ll keep your long payment history on your record but will be utilizing a more consumer-friendly card moving forward. 7 *APR = Annual Percentage Rate. Rates and terms subject to change at any time without notice.

9 You Could Win A Trip To The Super Bowl! Make purchases with your AFCU Visa Platinum Rewards Credit Card between September 1 and November 30, 2010,* and you could win the experience of a lifetime: 2 tickets to Super Bowl XLV in Arlington, Texas Round-trip airfare for two VIP tunnel access to watch the players take the field 4 nights hotel accommodations NFL Tailgate Party tickets and lunch or dinner with an NFL player Use your card every day for more chances to win. Each purchase grants you one entry. For more details and official rules visit *No purchase or obligation necessary to enter or win. Entries and Purchase Entries have an Equal Chance of Winning. Void where prohibited. Sweepstakes ends 11/30/10. AFCU Will Celebrate Turning 50 Next Year! Aerospace Federal Credit Union first opened its doors in 1961 and has been proudly serving The Aerospace Corporation, The Los Angeles Air Force Base and their family members for nearly 50 years. A lot has changed since then, but some things remain the same like AFCU s commitment to excellent member service and the loyalty those members show AFCU in return. To start, we re searching for the longest living AFCU member. Perhaps you ve been a member since the credit union was founded, or you ve served on the Board of Directors in the past and have a unique experience you d like to share. Maybe you have a story about how one of our products made a difference in your life, such as a home or a consumer loan. If you fit any of these descriptions, share your story by ing marketing@aerofcu.org. We ll recognize select members at our annual meeting in February will be a year for celebrating our golden anniversary and we want our members to be part of the festivities. Be on the lookout for special events and giveaways in appreciation of all our members past, present and future! The credit union s first day of business in

10 Autoland Is Your Trusted Auto Buying Service There s a reason why more than 200,000 Credit Union members have purchased a vehicle through Autoland. That reason: Autoland is credit union owned and operated, and they make it easy for you to get the car you want, without the stress of shopping on your own. From personal Autoland Consultants to cutting edge web tools, they deliver a full-service auto buying experience that you won t find anywhere else. Tell them what kind of car you want, new or pre-owned, right down to the options. They will tap into their vast auto network to find the exact car you re looking for. Then, they ll negotiate the price on your behalf to pass along savings, save you time and frustration, and deliver the car right to a mutually agreed upon location. What s more, they can secure all available manufacturer rebates, discounts or incentives for your next vehicle. With Autoland, the selection and incentives you d expect to only find at a dealership are available without ever having to step foot in one. never any obligation to buy your next vehicle through them and if you can find a better deal on your own, that s terrific. But we think that once you have experienced the service and convenience of Autoland, you ll never want to shop the old way again. Autoland is ready to make buying your next new or pre-owned car easier than ever. Call 866.AUTOLAND or visit and click on the Member Benefits tab to start shopping. More than 100 cars have been delivered to happy AFCU members during the past few years! In addition to being able to find your next new car, they also offer a value line of pre-owned vehicles for the budget minded buyer. All pre-owned vehicles feature no haggle pricing and a rigorous inspection. To make your next vehicle purchase even easier, they ll take the trade-in of your current vehicle. They accept any year, make and model vehicle, regardless of condition; and their expert consultants can provide you with a trade-in appraisal. Autoland s entire business is built around making credit union members happy. They are here to offer expert advice on all makes and models, regardless of whether or not you decide to buy through Autoland. There is 9

11 AFCU Has Visa Gift Cards Available for Purchase Searching for the perfect gift this holiday season? Looking for something to donate to the holiday toy drive? Not sure what to get your kids or grandkids? Forgot to buy a present and now you re running out of time? If you answered yes to any of the questions above, AFCU is here for you! We have Visa gift cards available for purchase in the AFCU branch. Choose any denomination (between $25 and $500) and we ll prepare a gift card for you within minutes. Plus, you get piece of mind knowing that you ve done something good for others $1.00 from every gift card purchased benefits Children s Miracle Network.* AFCU Members Do Good Deeds The AFCUSmile program will conclude on December 1, If you received an Ambassador envelope this year but haven t had a chance to pay it forward, now is the time. Read about what other members have chosen to do on our blog at Don t worry! We still have about 100 envelopes to pass out, so be sure to attend our upcoming events, visit the branch, or meet one of our remote Ambassadors who are helping share the program outside Southern California. Back to School Youth Bonus Ends October 31 Time is running out to get a 10% bonus on your initial deposit when you open a Minor Share Account by October 31, Back to school time is the perfect opportunity to bring practical math skills to life using money! Plus, we provide online games, articles and videos to help you teach your kids about responsible finances. Set your child or grandchild up for the future by starting them a savings account and making regular contributions through payroll deduction. If they already have an AFCU Share Savings Account, we have starter checking accounts and Visa credit cards with low limits to help them learn smart money management skills. Visit for more details. *CMN charity selected by the credit union vendor and donation is an appropriation of the service fee paid to the gift card vendor. 10

12 2310 E. El Segundo Blvd. El Segundo, CA Presorted STANDARD U.S. Postage PAID PSB Youth Corner: Win a $25 gift card! * Have fun coloring! Congratulations to our winner from the Spring 2010 issue - Emily O. from Huntington Beach, CA! Cut out and mail in to win! Name Age Address Phone *Official Contest Rules: No purchase necessary. Mail in your completed coloring page, 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 November 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. Contest is open to non-members of AFCU. Immediate family members of AFCU employees or Board Volunteers and their 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