May 2007
Financial News
GO GREEN
Sweepstakes* At Home with Patelco
Discover Patelco’s Home Loan Programs
How to Enter
Sign up to bank online. Online There are lots of reasons to get a home loan at Patelco—flexible terms, a credit
Banking allows you to check union you can trust, and friendly service. Whether you’re a first-time homebuyer,
your balances, review account looking to upgrade to a new home, make home improvements, want to increase
activity and pay up to 20 bills your cash flow with a second mortgage or you are interested in lowering your
a month for free and more! monthly payments, we have outstanding loan programs and great features that
enable you to make the best financing choice.
Update your email address.
It’s fast and easy to update your 30-Year Fixed1 7-Year Home Equity 2
account with your new email
in PC-24. 6.243 % APR3 6.25 % APR3
Sign up to receive eStatements. 1
Annual Percentage Rate as of 4/12/07. Rate is 6.125%; subject to change. APR calculations based on a loan amount for $417,000 plus closing costs and
points at 80% LTV.
eStatements are free, easy, and 2
Annual Percentage Rate as of 5/1/07. Rates are subject to change without notice. Home Equity Loans are available in AZ, CA, CO, FL, IL, NV, OR and
WA. Non owner-occupied properties are available on certain products at a higher rate. APR calculations are based on a 15-year term and a loan amount
secure. Plus, they help to reduce of $100,000.00 with no closing cost up to 80% LTV.
3
Annual Percentage Rate.
paper clutter, your risk of mail
fraud and identity theft. Get pre-approved today. Go to www.patelco.org/homeloans. Questions? Ask
one of our Home Loan Consultants, they’ll make you feel right at home.
Prizes Brenda Walker Cecilia Diaz Patricia Vallejo
> 2-Night Ahwahnee® Bed and Oakland, Oakland VARO, Daly City, Redwood City, Brentwood, Livermore,
Breakfast Package in Yosemite Fremont, Hayward, San Mateo, Milpitas, Pleasanton, San Ramon
San Leandro, Bakersfield, Santa Clara, Santa Cruz (both), Fairfield
> Panasonic 42’’ Plasma TV Atwater 415.442.7197 415.281.2595
> Gateway Laptop Computer 510.893.3665 cdiaz@patelco.org pvallejo@patelco.org
bwalker@patelco.org
Robert Greco Brian Aicega
Special offer: Citrus Heights, Elk Grove, Novato, Rohnert Park,
Patelco’s making it even easier to Andrew Chun
SF Main, SF Geary, Folsom, Roseville, Sacr. Santa Rosa, Windsor,
go green. Now you can purchase SF Sunset, Concord, Howe, Sacr. Watt Pinole, Eureka
your first computer or upgrade Walnut Creek 916.344.4756 707.838.5109 X 6409
415.388.1091 rgreco@patelco.org baicega@patelco.org
an old one with the help of a
achun@patelco.org
Patelco Computer Loan. We
offer 100% financing and our Auto Loan Visa Gold Vacation Loan Computer Loan
competitive rate will help you
as low as as low as as low as as low as
easily pay for the hardware,
software and accessories.
> Rate as low as 8.8% APR**
5.90% 8.90% 11.9% 8.80%APR1 APR2 APR3 APR4
1
Annual Percentage Rate as of 3/21/07; subject to change. Rate may be higher depending on your credit rating, account relationship, term, vehicle value,
> Loans up to $2,500 and other qualifications and may be .10% to 16.60% above quoted rates. Patelco extends vehicle loans on an open-end credit plan with repayment
schedules available up to 84 months.
> Terms up to 24 months Rate subject to credit approval and can change weekly.
2
3
Annual Percentage Rate as of 4/1 7/07 subject to change. 11.9% rate applies to Commitment Household members; all other members will receive a 12.00% rate.
Terms are 1 year per $1,000 borrowed, up to 3 years. Rates subject to credit approval and can change without notice. Finance charges begin to accrue at the time
* For Official Rules visit www.patelco.org/GoGreen. of loan funding.
4
Annual Percentage Rate as of 4/17/07, subject to change. 8.80% rate applies to Commitment Household members; all other members will receive a 8.90% rate.
** Annual Percentage Rate as of 4/17/07, subject to change.
Terms are 1 year per $1000 borrowed, up to 2 years. Rates subject to credit approval.
8.80% rate applies to Commitment Household members; all
other members will receive a 8.90% rate. Terms are 1 year per
$1000 borrowed, up to 2 years. Rates subject to credit approval. 1
Better Rate
Ask Joe An informative Q&A column
focused on members’ home loan questions answered
If you’re stuck with an unfavorable rate because you
don’t think you’d be approved for a lower rate, try us.
by Joe Kleemann, Vice President of Home Loans.
You might be surprised how we’re able to work with
you to meet your changing financial needs.
Fixed vs. Adjustable
Q: Is now a good time to refinance my mortgage? Need more money for your household budget? Look
into our adjustable-rate home loans that can lower
A: Mortgage rates have been following a wobbly path. your payments now so you have more money at hand.
Sometimes they’re on the rise, sometimes they’re on the Or maybe you’re afraid your adjustable-rate loan is
way down. What can be said for sure is that mortgage going to skyrocket once the rates start moving up. If
rates are still at generational lows, and if history has that sounds like you, it may be smart to refinance with
taught us anything, they will rise in the future. a fixed rate.
Now is a good time to think about refinancing your home Whatever your situation may be, Patelco is here to help.
loan. It may seem like a broken record to say it, but Patelco For more information or to apply for a refinance today,
continues to fund home refinances every day. And why visit www.patelco.org/homeloans or call 415.442.6200
not? It can bring many advantages to a homeowner. or 1.800.358.8228 (outside CA). Representatives are
available 24/7.
New Terms
Consider changing the terms on your loan. You may be able to
spread the payments over 30 or even 40 years and lower your
monthly payments.
In efforts to better serve our members, we want to hear from you! Please email any real estate loan questions you may
have to Joe Kleemann, Vice President of Home Loans at askjoe@patelco.org.
Help Preserve, Protect and Dennis Brajkovich
707.838.1852
Jo Laurie Schmeltzer
Redwood City, San Mateo
Grow Your Assets
Novato, Rohnert Park, 510.744.9238
Santa Rosa, Windsor jschmeltzer@patelco.org
dbrajkovich@patelco.org
You work hard to attain the things you need: a home, college Philip Catalan
Darryl Hall Fremont, Hayward,
education, retirement, and a comfortable lifestyle for you 916.686.8754 San Leandro
and your family. To help you maintain them, enlist one of Fairfield, Sacramento area 510.744.9238
dhall@patelco.org philip.catalan@patelco.org
our Financial Advisors, available through CUSO Financial
Services, L.P., our broker dealer. Our advisors will guide you Jane Krueger Omar Maslic
through Patelco’s investment and insurance products and 415.442.6205 Milpitas, San Jose, Santa Cruz,
San Francisco Santa Clara
services, and map out a strategy that fits your short- and jkrueger@patelco.org 408.935.4002
long-term needs. omaslic@patelco.org
Jan Russell
925.603.7570 Bob O’Conner
Schedule a free, no-obligation portfolio review with a Concord, Walnut Creek, Pleasanton, Brentwood,
Financial Advisor today: Oakland, Pinole Livermore
jrussell@patelco.org 209.613.0980
bob.oconnor@patelco.org
Investment products and services offered through CUSO Financial Services, L.P. (CFS) are not insured
by American Share Insurance (ASI) (the Credit Union’s private share insurer), are not NCUA/NCUSIF
Jay Long
insured, are not Credit Union guaranteed, and may lose value. Financial Advisors are employees of San Ramon
Patelco Credit Union and registered through CFS. Patelco Credit Union is in partnership with CFS. 925.830.9434
Member NASD/SIPC
jlong@patelco.org
2 May 2007
As Good As Gold Calendar: Things to Know + Things to Do
Patelco’s Visa Gold card is already loaded with enough benefits
to make it one of the best credit cards out there. But did you May 29 – Memorial Day
know that we added one more? A no fee rewards program: Patelco will be closed in observance of the
spend a dollar, get a point. holiday.
Earn points Hot Tip: Sign Up + Save Big
Qualifying purchases must be signature-based, Internet, or
phone transactions. No ATM, POS, or cash advances will
Save money on all prescriptions with
qualify for points, nor will casino cash, Western Union, or
Patelco’s New Rx Savings Program. Visit
money order purchases. www.hpprx.com/patelco to learn more.
Redeem points
Shop Patelco’s online catalog to quickly and easily turn your Members Only: Deals + Discounts
points into great rewards. View our special offerings at
www.patelcopoints.com. Get ready for summer and purchase tickets
. for Six Flags Discovery Kingdom online
for only $26.99 each. Go to www.sixflags.
>>> com/discoverykingdom. Use promo code
CUVIP11. Offer valid through July 4, 2007.
Start accumulating points today! If you’ve lost your Visa Gold
card or would like to apply for one, contact us at 415.442.6200 Vital Statistics: Members + Assets
or 800.358.8228 (outside CA). You can also apply online.
Members: 233,408
Assets: $4,220,916,157
As of 3/31/07
Class Schedule: Free seminars for your financial well-being.
> The Truth About Estate Planning > Wednesday, June 6, 2007 > All About Living Trusts
& Living Trusts Noon – 1:00 pm Wednesday, May 30, 2007
Wednesday, May 24, 2007 Patelco Credit Union 1:00 – 2:00 pm
6:30 – 7:30 pm 144 Second Street – Mezzanine The Wine Gallery
Patelco Credit Union San Francisco, CA 627 Sutter Street
1790 Broadway Folsom, CA
Walnut Creek, CA > IRA Investing*
Wednesday, June 13, 2007 Retirement Income Planning*
> Wednesday, May 30, 2007 Noon – 1:00 pm Wednesday, June 6, 2007
Noon – 1:00 pm Patelco Credit Union Noon – 1:00 pm
San Ramon Bishop Ranch – 144 Second Street – Mezzanine Patelco Credit Union
SBC Facility San Francisco, CA 1537 Howe Ave., Suite 218
SBC Employees Only! Sacramento, CA
2600 Camino Ramon
Room 1D100 Redwood Room
San Ramon, CA
Patelco seminars are complimentary and open to the public. Pre-registration is required. Call 415.281.2544 or go to www.patelco.org [Link: Tools, Educational Seminars] at least
48 hours in advance. Patelco reserves the right to cancel seminars due to low enrollment and may limit class size. Enrollment will be accepted on a first-call, first-served basis.
*Investment products and services offered through CUSO Financial Services, L.P. (CFS), are not insured by American Share Insurance (ASI) (the Credit Union’s private share insurer), are
not NCUA/NCUSIF insured, are not Credit Union guaranteed, and may lose value. Financial Advisors are employees of Patelco Credit Union, and registered through CFS. Patelco Credit
Union is in partnership with CFS. Member NASD/SIPC. For specific tax advice, please consult a qualified tax professional.
May 2007 3
Financial Tips for Our Members
Get help meeting life’s demands with a Patelco Vacation Loan and take advantage How to Reach Us
of the lowest rate available on an unsecured loan before rates rise. Use this loan for Mailing Address
a vacation or anything you choose. 156 Second Street
San Francisco, CA 94105
> Need to Borrow Money for a New Car?
Web Address
If you are a homeowner, a home equity loan may be your best option. You may www.patelco.org
obtain a lower interest rate, and the interest may be tax-deductible. Learn more in
our Loan Center on-line at www.patelco.org/homeloans. Telephone
415.442.6200
> Your Savings 800.358.8228 (outside CA)
When you pay off a bill, a car, or any other debt, continue making the installment Branches
payment to your savings account—and watch it grow. Find a branch near you.
www.patelco.org
> Recently remodeled? [Link: Locations, Branches]
If you have done a major renovation in the past year, you’ll want to increase the Credit Union Service Centers
value of your homeowner’s insurance. Get a free quote through our web site Find a shared branch from our
www.patelco.org/homeloans. nationwide network.
www.cuswirl.com
CO-OP ATM Network
New! Final Expense Insurance Find an ATM from our
nationwide network.
www.co-opnetwork.org
Patelco Credit Union is proud to introduce Final Expense insurance. This 888.748.3266
valuable product is exclusive to Patelco members ages 20-79 and their families.
As a member of Patelco, you’re automatically qualified to purchase a Final PC-24 Online Banking
www.patelco.org
Expense Life Insurance policy for yourself and members of your family. Final [Link: Online Banking]
expense policy benefits are income-tax free to your beneficiaries and can be
used for: Call-24 Telephone Banking
888.766.2424
Funeral expenses that commonly range from $6,000 to over $10,000 Lost or Stolen Credit Card?
(source: Federal Trade Commission “Funerals: A Consumer Guide”) Settling of 415.442.6200
debts such as credit card balances, car loans, and mortgages. Legal costs associated 800.543.5073 (after business hours)
with probate, taxes, and other estate matters. Education funds for children Questions or Comments?
or grandchildren. Send us an email.
patelco@patelco.org
Sample monthly rates for $10,000 of coverage:
Male Female
Age 50 $38.49 $32.11
Age 60 $59.40 $48.85
Age 70 $100.48 $74.14
Financial News is a monthly
Members can get $5,000 - $25,000 of guaranteed life insurance coverage on newsletter published by Patelco
themselves. This coverage provides for partial coverage immediately and has Credit Union for its members.
full coverage starting in year three. There are no medical questions and coverage
is guaranteed for members. Parents of members are also eligible for this coverage Patelco Credit Union is privately insured up to
$250,000 per account by American Share Insurance.
but are required to answer a few medical questions to qualify for coverage.
This institution is not federally insured, and if the
For more information, please contact Acordia of California toll-free at: institution fails, the Federal Government does not
(800) 648-1600. guarantee that depositors will get back their money.
Accounts with this institution are not insured by
any state government.
Coverage is underwritten by Fidelity Life Association, Oak Brook, IL (Rated A- by AM Best)
4 May 2007