What You Need to Get Started

Transcription

1 SPRING 2012 esfcu.org AnExchange Redesign your mortgage We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. Mortgage rates are subject to change without prior notice. Membership and credit requirements will apply. Please contact one of our mortgage specialists for details. What You Need to Get Started Before applying for your home loan, gather some of these important documents. Being prepared will save you time. It could even save you money. 1. Paycheck Stubs and your W2: Bring stubs from your past three months of employment. 2. Bank & Investment Statements: Gather up statements from the past three months. 3. Tax Documents: Find your tax documents from the prior two years. 4. Gift Letter or Paper Trail: If someone in your family will be gifting you the down payment, get them to write a gift letter or at least show the paper trail for the gift. 5. All Loan Documents: Sure, your loans will show up on your credit report, but when you have these documents, it can often save time while filling out documents. Home Loans Designed to Fit Your Budget Buying a home or refinancing your current one? Educational Systems FCU is here to help redesign your mortgage with flexible financing options that work with your budget and your needs. Plus, we ll always be here to answer questions and protect your financial future. Your Mortgage Starts Here & Stays Here Qualify for a home loan at Educational Systems FCU and we ll be here to help you for decades to come. That s because from start to finish, we ll service your home loan. 30 years down the road when you re making your last payment, you ll be coming to the credit union to collect your deed and a high five! Choose Your Terms The Educational Systems FCU First Mortgage team is ready to help you with 15- and 30-year terms, as well as ARM (adjustable rate mortgage) options, FHA loans and more. We can even show you how buying a few points can lower your monthly payments. Your Loan is Here Just ask how to redesign your mortgage and we ll walk you through the process, explain your options, and help you do what s best for your financial future. Get more info and apply online at esfcu.org. Or just give us a call at (toll free ). 1

2 AnExchange Drive Home Happy With a Great Deal & No Payments for 90 days!* Drive home from the dealership happier with a new or used vehicle and financing from Educational Systems FCU. When you do, you ll get a great rate as low as 1.49% APR for new vehicles. Plus, you won t need to make a single payment for up to 90 days. That s three months of free driving. New Cars! 1.49 % APR** for up to 36 Months Used Cars! 2.24 % for up to 36 Months APR*** Finance Your Ride Stop by one of our branches and get pre-qualified or look for a Credit Union Auto Loan Network affiliated dealership and simplify the entire process. From start to finish, your favorite dealership will be able to sell you the car you want and process your Educational Systems FCU financing all at once. Insurance for Your Car and Credit With all the cars on the road, it makes sense to protect yourself not only with airbags but also with insurance to cover your car and your credit. Ask about Guaranteed Auto Protection (GAP) when financing your new or used vehicle. If your vehicle is totaled, your insurance will only pay what the car is worth, leaving you to pay the difference between what you owe and what insurance covers. GAP Insurance covers that gap with a small addition to your monthly payment. No Payments for 90 Days Get the deal you ve always wanted and the payments you deserve. Apply online within Online Banking, stop by one of our branches or call (toll free ). *Members who finance a new or used auto, or refinance their existing auto from another institution between April 2nd and June 30th will receive deferred payments for 90 days. Interest will continue to accrue during the deferred period. **1.49% Annual Percentage Rate (APR) is a fixed-rate on new auto loans financed for a maximum term of 36 months. 100% financing is not to exceed Manufacturer s Suggested Retail Price (MSRP). Other loan rates and terms are available on new autos. Applications are subject to credit approval, and actual rate is based on your credit history. All rates are subject to change without prior notice. ***2.24% Annual Percentage Rate (APR) is a fixed-rate on used auto loans financed up to 125% of the NADA Trade Value for a maximum term of 36 months. Other loan rates and terms are available on used autos. Applications are subject to credit approval, and actual rate is based on your credit history. All rates are subject to change without prior notice. Auto matic Savings Tactics Tips to Save on your Next Auto Purchase Aside from knowing someone who can build you a vehicle, there are ways to save money when buying a new or used car. 1. Do Your Homework: Choose the make and model you want before going to the dealership. Know what options are included and how much they cost. If you don t need it, don t buy it. 2. Set Your Budget: Pre-qualify at Educational Systems FCU and you ll know exactly how much car you can afford. 3. Keep Us on Your Side: We won t finance a vehicle if the dealer has overpriced it. 4. Get Your Insurance Quote: Before buying, it s good to know how much your new vehicle will add to your insurance premiums. Call Nationwide Insurance at First Time Homebuyer? Here are Tips to get you Prepared! Buying a home can be very exciting. But first, you ve got to do your homework. Here are some quick ways to ensure you ve got your finances in order before applying for one of the biggest purchases you ll ever make. Stay on Budget. Don t forget to include maintenance, extra utilities, property taxes, HOA dues, insurance and more. When you total it up, it shouldn t exceed 35 percent of your net pay. Save Up Some Cash. In today s economy, you ll need some money for a down payment. Maybe not 20 percent, but the more you put down the lower your mortgage payment will be every month. Plus, when you reach 20 percent in home equity you can forgo Primary Mortgage Insurance (PMI), saving you money every month. Take Care of Your Credit. Before applying for a mortgage, pull a copy of your most recent report from Experian (experian.com), TransUnion (transunion.com) and Equifax (equifax.com). Download your free copy at annualcreditreport.com or call Be sure to look for errors in your reports and monitor your FICO score. 2

3 SPRING 2012 esfcu.org Celebrate Cinco de Mayo! At Tom Hodges Auto Sales! May 5, 2012! Quick Financing Great Deals Big Savings Your Membership will Save You Money Come on out to Hollywood, MD for some great deals at Tom Hodges Auto Sales on Saturday, May 5, 2012, from 9 am to 5 pm. There, you ll find over 120 cars or trucks, all at incredible prices. Plus, an Educational Systems FCU loan officer will be on-site to get you approved for your new auto right there at the dealership. No Payments for 90 Days!* If you live, work, or have children who attend a school in St. Mary s County, this is a perfect opportunity for you to take advantage of this special sale and loan rates! Enjoy the Family Fun Bring the family, because Tom Hodges has planned a day full of fun and savings! There ll be plenty of free hotdogs, hamburgers, chips, soda and great deals for everyone. Tom Hodges Auto Sales Mervell Dean Road Hollywood, Maryland * Members who finance a new or used auto, or refinance their existing auto from another institution between April 2nd and June 30th will receive deferred payments for 90 days. Interest will continue to accrue during the deferred period. All Access with CU 24 Your Educational Systems FCU Visa Debit Card now gives you surcharge-free access to your cash at Credit Union 24 Network ATMs across the country and around the world. Just look for the Credit Union 24 CU Here logo, use your secure personal identification number (PIN) and you ve got all access to your money. Find an ATM Near You Visit esfcu.org and enter your location for a list of ATMs near you. Convenience is in our DNA Saving You Time and Money One click over to esfcu.org and you ll quickly discover a long list of convenience services. From BillPayer to My$Dashboard, e-lerts and more, we re here to help you add some time back to your day. -New There s a way to see all of your finances in one spot in Online Banking. It s called My$Dashboard and it allows you to pull balances from all of your accounts even those from other financial institutions and credit cards. This is a great way to track your spending, create goals and really manage your finances. You ll find the My$Dashboard tab at the top of Online Banking just after you login. Mobile Banking Got a smartphone? You re in luck because you can now do your banking from just about any wireless phone with Internet access. View account balances, transfer funds and more. estatements Do your part for the environment, your Credit Union and your personal identity with estatements. All you need to do is give us your address in Online Banking and we ll let you know when your account statements and notices are available in Online Banking. Online Bill Payer With Online BillPayer, you ll never have to write a check again. Pay just about anyone anywhere with a few clicks. Got a bill with a set monthly payment? Set it up for recurring payments and let us remember to make the payment for you. To get more information on any of these services please visit us at esfcu.org or give us a call at (toll free ). 3

4 AnExchange Our In-School Program is Growing Congratulations to New Locations Added We re all about supporting our members where they work, learn and play. We ve recently added two new In-School Branch locations in the Prince George s County Public Schools system. With the addition of our two newest branches, this marks over 40 In-School Branch locations in the counties that we serve! Thomas Johnson Middle School Opened as of January 26, 2012 Lewisdale Elementary School Opened as of February 2, 2012 Dr. C. Michael Robinson, Principal; Brenda Rosario, In-School Branch Manager; Ingrid Villela, Bilingual Character Education Support Coordinator; Christian Mendez, Assistant In-School Branch Manager Christian Rosa, Bilingual In-School Branch Representative; Ms.Haith Belgrave, Principal; Christian Mendez, Assistant In-School Branch Manager Prince Frederick New Branch Location Opening this Summer We are pleased to announce that our Prince Frederick, Maryland branch will be moving to a new location this summer. Members who frequent this branch will take advantage of new perks to include full-service capabilities, new drive-up ATM, plenty of parking and easy access. Stay-tuned, and visit us at esfcu.org for grand opening information! Prince Frederick Branch New Location 705 Prince Frederick Blvd. Prince Frederick, MD Be a Credit Union Super Saver! National Credit Union Youth Week TM April 22-28, 2012 Join us at every branch location during National Credit Union Youth Week for super prizes, super fun and super ways to save! We ll be handing out goodies for the kids and helping you turn your little ones into Super Savers! Here are some quick ways to help give your kids super financial powers. Open an Account: If they don t have their own account at the credit union, open one for them. Teach them to fill out deposit slips and why it is important to save for the future. Share Your Wisdom: Show them the family budget, and invite them to help with financial decisions. Shape Their Future: Be a good role model by saving, spending and giving wisely. 4

5 SPRING 2012 esfcu.org Students Pinch Onto Books with the Blue Crabs Educational Systems FCU and the Southern Maryland Blue Crabs have teamed up once again to promote reading in the Southern Maryland Elementary Schools. This year, students had the opportunity to read for a Blue Crabs game ticket with the Pinch Onto Books reading program. Best of all, the school that read the most books won a pizza party! The pizza party will be delivered by the Blue Crabs players and their mascot, Pinch. Educational Systems FCU will be there to take part in all of the fun! The winning schools that read the most books were: St. Peter s Catholic School (Charles County) Calvert Elementary School (Calvert County) Dynard Elementary School (St. Mary s County) Readers Hit a Home Run with the Bowie Baysox & Louie Our Community Corner Each season, Educational Systems FCU and the Bowie Baysox look for two poster designs to kick off the Read and Hit a Home Run program. This year, Caroline Cooney from Whitehall Elementary won for Prince George s County and Myles Williams from William Wade Elementary won for Southern Maryland. Reading game nights are listed below. Great job to all of our hard working readers! Blue Crabs Reading Nights: Friday, April 27 7:05 pm Saturday, April 28 6:35 pm Friday, May 18 7:05 pm 2012 Annual Prince George s County Spelling Bee Congratulations to Hannah Thomas of Martin Luther King Jr. Middle School for winning the 2012 Annual Prince George s County Spelling Bee. Once again, it was a wonderful event filled with complicated words, like this year s winning word Madeleine! Educational Systems FCU was proud to sponsor this year s annual event. All 29 participants studied and did an outstanding job. Hannah will be competing in the Scripps National Spelling Bee at the National Harbor in Washington, D.C. We wish our winner the best of luck! Spelling Bee Winner Hannah Thomas who is a student at Martin Luther King Jr. Middle School. Carolyn Cooney Whitehall Elementary School Prince George s County Public Schools Myles Williams William Wade Elementary School Southern Maryland Public Schools The posters will be displayed in elementary and middle school classrooms of schools that are participating in the program. Students Get Free Game Tickets In order to receive a free ticket to a special Baysox game, each student must read four books in addition to their regular curriculum. These students also have the opportunity to participate in a pre-game parade with their fellow classmates and teachers. Reading is fundamental to a lifetime of learning, says Vic Samuels, Vice President of Community Relations. Congratulations to the 33,260 students in Prince George s County schools and 11,211 students in our Southern Maryland schools who met the reading challenge last year. As a Member Appreciation, the Bowie Baysox is offering a special discount to all Educational Systems FCU members. If you would like to attend any game this season, purchase your tickets at baysox.com, enter promotional code: ESFCU, and receive a discount on your ticket! Bowie Baysox Reading Nights: Southern Maryland Prince George s/montgomery Friday, April 6 7:05 pm Friday, April 20 7:05 pm Saturday, April 7 2:05 pm Saturday, April 21 6:35 pm 5

6 AnExchange Charge Forward with Your Spring Projects Apply for a Visa Credit Card Today! Spring is a great time for a home improvement project. Now you can finance that new deck, hot tub, shower enclosure and more with an Educational Systems FCU Visa Credit Card. Choose a card that gives you double points with every purchase, go for the gold and enjoy a great rate and terms, or a card with no annual fee. Visa Rewards Rates starting as low as 3.25% APR* Earn double points No balance transfer or cash advance fees $50 annual fee * Variable interest rate-index (Prime Rate) + a Margin. Maximum interest rate (will never exceed) 18.00%. Visa Gold Rates starting as low as 12.9% APR* $35 annual fee No balance transfer or cash advance fees * Interest rate is based on credit score. Visa with No Annual Fee Rates starting as low as 9.25% APR* No annual fee No balance transfer or cash advance fees * Variable interest rate-index (Prime Rate) + a Margin. Maximum interest rate (will never exceed) 18.00%. If that wasn t great, you can also take advantage of our CardsYouDesign program that allows you to personalize your Visa Credit Card using a photo of your family, pet or favorite photo. In just a few steps, transform your credit card to be 100 percent reflective of you! To apply today at esfcu.org, stop by any branch or call (toll free ). Saving You More Money Sprint Savings Offer We re always finding ways to save you more money. As an Educational Systems FCU member, you are now eligible for the Sprint Credit Union Member Discount Plan. 10% Off* most regularly priced Sprint individual service plans 15% Off* most regularly prices Sprint business service plans Sprint will even waive the activation and upgrade fees.* Best of all, this offer is available to new and existing Sprint customers. To Get Your Discount Visit LoveMyCreditUnion.org/Sprint, call and reference Corporate Code: NACUC_ZZM, or visit your nearest Sprint Store and tell them that you are an Educational Systems FCU member. Be sure to provide proof of your Credit Union membership. * Application of discount requires 2-year contract extension on existing plans. Waived activation fee on new activations only. Verification of membership is required at time of activation/upgrade. All rights reserved. Sprint, the logo, and other trademarks are the trademarks of Sprint Nextel. 6

7 SPRING 2012 esfcu.org Educational Systems FCU Wins the 2011 Education Credit Union Council Award for FoolProof Board Members and staff proudly accepted the award. Left to right front row: Eva Chesley, Vice Chairman; Nahid Moghadam, VP Member Services; Vic Samuels, VP Community Relations; Rosemary Brinkley, Chairman; back row: Maurice Erly, Treasurer; John Neville, Director; George Denny, Director; Chris Conway, President/CEO; Alonia Sharps, Director. Educational Systems FCU was honored to receive the 2011 Education Credit Union Council s (ECUC) It s About People Helping People FoolProof Excellence Award for our work in the area of financial education! The award was presented at the 2012 ECUC Annual Conference in Savannah, Georgia in February, FoolProof is an online education program designed to meet members at every stage of their lives, from the high school student with questions about life and college, to the married couple wanting answers about childcare and mortgage payments. It s about empowering Educational Systems FCU members with unbiased information on many topics. Learn as You Go Wherever you are in life, there s a FoolProof class for you. Each class is called a module, and the modules you take add up to an entire curriculum on a wide range of topics. Does it feel like school? Will you learn a lot? Is it fun? The answer to all three questions is a resounding, Yes! FoolProof is Free There s no catch or obligation and you will not be sold anything. It s just a chance for members from all walks of life to improve their financial future. For more information on FoolProof please visit esfcu.org, call (toll free ), or stop by any branch and ask about this free service today. Marketing Wins CUNA Diamond Award for Financial Literacy Every year the Credit Union National Association (CUNA) recognizes credit union marketing initiatives and expertise with their annual Diamond Awards competition. This year, Educational Systems FCU was honored to be chosen for two awards at the CUNA Marketing & Business Development Conference in New Orleans, Louisiana. One for the Free Your Ride auto loan campaign that members saw during the summer of 2011, and a Financial Literacy Award for implementation of the FoolProof program in local high schools. CUNA Diamond Awards: Mary Harris, Marketing Manager accepts Diamond Awards for Complete Campaigns and Financial Education Marketing. Attention: Prince George s County 10 Month Employees Summer is just around the corner. Please remember if you have a loan on payroll deduction and you did not opt for the summer skip option, we will not receive payments during the summer. June 8th will be the last payroll deduction until August 31st. Please keep in mind you must make direct payments during this time period to keep your loans current with us. Review your loan to make sure you have summer skip. If you do not, there is still enough time to inquire about summer skip options with one of our member service representatives at (toll free ), or stop by one of our branch locations. 7

8 Your savings federally insured to at least $100,000 and backed by the full faith and credit of the United States Government AnExchange Mark Your Calendar & Save the Date! P.O. Box 179 Greenbelt, MD Prst First Class U.S. Postage PAID Merrifield VA Permit No th Annual Meeting Thursday, April 26, 2012 Registration: 5:00 pm Meeting: 6:00 pm Location: Greenbelt Marriott (6400 Ivy Lane in Greenbelt, MD) All Educational Systems FCU members are invited to attend our 2012 Annual Meeting. Nominated for the Board of Directors are returning members, Rosemary Brinkley, Maurice Erly, and Alonia Sharps, each for a three-year term. Since the number of nominees equals the number of seats up for election, no balloting will be required. Corporate Office Mailing Address P. O. Box 179, Greenbelt, MD Fax: Branch Locations Bowie Branch Duvall Village Shopping Center 4801 Glenn Dale Road, Bowie, MD Upper Marlboro Branch Washington Plaza 8903 Presidential Parkway, Suite 100, Upper Marlboro, MD Waldorf Branch Smallwood Village Shopping Center 169A Smallwood Village Center, Waldorf, MD Greenbelt Branch Maryland Trade Center 7500 Greenway Center Drive, Suite 140, Greenbelt, MD California Member Service Center San Souci Plaza MacArthur Blvd., California, MD Prince Frederick Member Service Center* Manning Building 165 Main Street, Suite 90, Prince Frederick, MD *No Teller Services Locations All Card Services The phone number is You will be prompted to press 2, enter your account number and follow the prompts to report a lost or stolen Visa Credit or Debit Card. Hours for Branches and Member Service Centers Lobby Hours Monday Thursday 9:00 am - 5:00 pm Friday 9:00 am - 6:00 pm Saturday 9:00 am - 1:00 pm Drive-Thru Bowie Branch Monday Friday 8:00 am - 7:00 pm Saturday 9:00 am - 1:00 pm ATM Locations 24-Hour ATM Access at the above Branches and Member Service Centers Drive-Up ATM Waldorf Branch Parking Lot 24/7 For added convenience, an ATM is also located at the Charles County Board of Education 5980 Radio Station Road, La Plata, MD Monday Friday, 8:00 am - 4:00 pm Prince George s Community College Largo Student Center 301 Largo Road, Largo, MD Monday Friday; 8:00 am - 10 pm SPRING 2012 esfcu.org Try BALANCE Feeling financial stress? As a benefit of your Educational Systems FCU membership, you have access to BALANCE Financial Fitness Program. Free budget and debt counseling is available Monday through Thursday, 5 am to 8 pm, Friday, 5 am to 5 pm, and Saturday, 8 am to 5 pm (PST). Relieve the pressure. Call BALANCE toll-free or visit balancepro.net. Executive Officers Chris Conway President/CEO Girado Smith Senior Vice President/CFO Wayne Beall Vice President/CIO Laura Eacho Vice President, Lending and Collections Victoria U. Samuels Vice President, Community Relations Nahid Moghadam Vice President, Member Services Bryn Vaupel Vice President, Marketing Who s Who Board of Directors Rosemary Brinkley Chairman Eva Chesley Vice Chairman Maurice Erly Treasurer Dr. Jerome Clark Secretary John Neville Director George Denny Director Alonia Sharps Director Supervisory Committee Members W. Cecil Short Chairman Michele Winston Secretary Alonia Sharps Member Ronald Ott Member 2012 Holiday Schedule Memorial Day Monday, May 28 Independence Day Wednesday, July 4 Labor Day Monday, September 3 Columbus Day Monday, October 8 Veterans Day Monday, November 12 Thanksgiving Day Thursday, November 22 Christmas Day Tuesday, December 25 Your savings are insured up to $500,000. Your savings are federally insured up to at least $250,000 by the National Credit Union Administration (NCUA), and backed by the full faith and credit of the United States Government. An additional $250,000 of coverage is provided by Excess Share Insurance (ESI), a private corporation. Traditional and Roth IRAs are insured up to $250,000 by NCUA and up to an additional $250,000 through ESI, all at no cost to you. Your savings federally insured to at least $100,000 and backed by the full faith and credit of the United States Government NCUA National Credit Union Association, a U.S. Government Agency