Spring 2012 The for SCE Federal Credit Union News managing your finances just got easier... all of your accounts... from anywhere... at a glance Access most accounts – even from other financial institutions, credit card companies, brokerages, etc. If the account is viewable online, you can bring it into snapshot – the online personal financial management (PFM) tool – free for all SCE FCU members! • View all of your accounts in one easy-to-manage location, with a single sign-on – saving you from visiting site after site, with separate log-ins, never really seeing the full picture • Create custom budgets and savings goals, allowing more effective money management and smarter investments • Set up account alerts with email or text messages • Track spending to see where your money actually goes – how much you’re really spending on that cup of gourmet coffee, dining out, entertainment, etc. • & much more... And you can rest assured that by using snapshot to manage all of your information, you’re utilizing a completely secure environment. Sign up for free through CU@Home, our no-cost online banking service at scefcu.org. Not yet enrolled in CU@Home? Not a problem, visit our website and select “sign up now” in the log-in box to self-enroll. Please join us for our Follow us on Facebook! Annual Meeting & It’s your place for special offers, sneak Nomination of Officials peeks at promos, financial tips, job Wednesday, April 11, 2012 opportunities, special announcements Registration 5:30pm Annual Meeting 6:00pm and more. SCE FCU Corporate Office Irwindale, California Facebook.com/scefcu Historically Low Mortgage Loan It 's tIme to be a get your Rates Mean HUgE Savings! savIngs superhero! Cape and masK With home loan rates at their lowest in 50 years, rates may never reach this level again in your lifetime! Check out our Kids have the power to protect the future by becoming super savers. lowest rates for a 30-year, fixed-rate loan – with even lower SCE FCU is helping youth sharpen their saving super powers by giving them ready... rates for 15- and 20-year terms! chances to save and win during April – specially designated as Youth Month! By making saving fun, SCE FCU shows kids and teens how to utilize their own Year Rate $150,000 $225,000 $300,000 strengths and Credit Union resources to meet financial goals. 3.750% $694.67 $1042.01 $1389.35 Jan 2012 3.875% $705.36 $1058.03 $1410.71 enter our savings superhero raffle ys Contest and you could win up to $250!1 4.000% $716.12 $1074.15 $1432.25 3 Wa In As your Credit Union, we’re not only able to help you as a consumer, 5.125% $816.73 $1225.10 $1633.46 we’re also here to assist small businesses – which in turn, benefits to W individuals and our local communities. Unfortunately our ability Jan 2010 5.250% $828.31 $1242.46 $1656.61 to assist has been limited by legislation, at a time when those businesses and our economy need it most. However, credit unions 5.375% 6.250% $839.96 $923.58 $1259.94 $1385.36 $1679.91 $1847.15 Zoom Wham bam have been working with Congress to increase the arbitrary cap on Deposit money from your piggy Don’t have an account yet? Get creative and make your own how much a credit union can loan to small businesses. The President Jan 2007 6.375% $935.80 $1403.71 $1871.61 bank, allowance or birthday into No worries... stop in with your Savings Superhero costume! Show and Congress are still searching for ways to stimulate the economy 6.500% $948.10 $1422.15 $1896.20 and create jobs, and member business lending is a great way to do This chart shows what an average mortgage payment of principal and interest are based on today’s 30-year fixed rate your SCE FCU Youth Savings or Youth parent/guardian and open one. You’ll us your costume in person at a so without using federal tax revenue. mortgage, along with payment and rate examples from 2010 and 2007. Super Saver account, and get one get two additional entries just for branch, or with a photo, and you’ll entry for every $20 you save.1 opening your new account! get two entries.2 Take advantage of historically low rates, and experience how the Background… Credit Union you trust can help you finance – or refinance your Before 1998 there was no limit to the amount credit unions could home loan. Apply in person, by phone, or online at scefcu.org. lend to member businesses. It was not until Congress passed the Kaboom! Credit Union Membership Access Act of 1998 that credit unions but wait! every superhero needs a gadget... Rates shown for owner-occupied property, subject to change without notice. Property must be in were subjected to an arbitrary cap of 12.25% of total assets. Today, California. There are fees and costs associated with these loans. Please call or visit scefcu.org for today’s rates, and compete terms and conditions. credit unions with valuable experience in business lending are When you visit one of our branches to make a deposit, open your account, or to show off your Savings Superhero approaching their legal capacity to lend to small businesses. At the same time, small businesses are finding it increasingly difficult costume, you can choose a prize from our box of superhero gadgets! to obtain credit from other financial institutions. These small businesses are uniquely positioned to create new jobs and are Check out our raffle prizes! essential to our economic recovery. Grand Prize - $250 • 2nd Prize - $100 (2 winners) • 3rd Prize - $50 (2 winners) Finalists – 4-pack of movie tickets (4 winners) • Bonus Prize – $100 through a national contest! There is a bill currently before our legislators – the Small Business Lending Enhancement Act, S.60+/H.R. 1418 – that would raise the credit union member business lending cap to 27.5% of assets. This NO PURCHASE NECESSARY. 1Raffle contest is open to individuals ages 0-17 years. Net deposits only; no raffle entries will be given for funds deposited and withdrawn within the month. Max 25 raffle entries. 2Costume photos will be displayed in the branch, on our Facebook page and on our website. Visit scefcu.org for Official Rules and photo submission instructions. common sense proposal, which is supported by the Department of Treasury, could help credit unions provide up to $13 billion of stimulus to America’s small businesses in the first year alone and create more than 140,000 new jobs at NO COST to taxpayers. Free Home Buyer Seminars If you’re getting ready to purchase a home, we can arm you with the More than ever, every single penny counts. That’s why now is Action Needed... knowledge you need to feel confident and comfortable throughout a great time to bring over your existing auto loan from another Small businesses in our state need access to capital to create new the process, including information on: institution and get a guaranteed better rate AND lower payment jobs without cost to the taxpayer, and credit unions are ready from SCE FCU! and willing to lend. You can help us to provide this much-needed • Today’s housing market conditions assistance by contacting your legislators and urging them to support • Types of home financing available We have great rates, flexible terms and fine print that’s actually or include the Small Business Lending Enhancement Act in any • Home inspections, appraisals, etc. fair. Plus, our loans have no pre-payment penalties. So if you future jobs package. This can be done quickly and easily by visiting want to pay more when you’re able to, you have that option. • Selecting a realtor connectforthecause.org — an advocacy web page designed by credit unions for credit union members to send letters to Members • & more... It’s quick, easy, and free to apply by phone at 800.866.6474, at of Congress. You will be asked to enter your name, home address, Our panel of experts will coach you through the any SCE FCU branch, or online at scefcu.org. Hurry – this offer and email address. You will then be prompted with a pre-written home buying process to help you avoid common pitfalls. ends May 31st. letter asking for your legislative representatives’ support. If your elected officials have co-sponsored the legislation, you will be Saturday Lower rate & payment guaranteed Irwindale Corporate Office prompted with a “thank you” letter. These letters are electronically sent, once you hit submit. If you want to be notified of future issues, April 21st 12701 Schabarum Ave, Irwindale, CA or we’ll give you $50! 10am to noon you may also choose to opt-in to future alerts. Saturday Rancho Cucamonga Community Center Same Car... May 19th Offer valid through 5.31.2012, open to SCE FCU members and is not valid on existing SCE FCU or Sonepco FCU auto Please write today to support this urgent need. Thank you in 11200 Base Line Rd, Rancho Cucamonga, CA loans. Subject to credit qualifications and vehicle value requirements. Current rate verification required. Borrower(s) and 10am to noon vehicle must qualify to be eligible for $50 offer. $50 will be deposited into your SCE FCU account within 1 month of final advance for your support. loan decision. All SCE FCU auto loans are open-ended, with flexible repayment periods. Saturday Duarte High School Library Sincerely yours, June 23rd 1565 E. Central Ave, Duarte, CA 10am to noon Dennis J. Huber Please RSVP at scefcu.org/HomeBuyer or call 626.646.2353, as space is limited. Additional dates & locations may be added. Check our Better Rate & Smaller Payment Guaranteed! President/CEO website for the latest info. 1 Available to SCE FCU members attending an SCE FCU Home Buyer Seminar. Must apply for a mortgage loan by 7.31.2012 and close the loan with SCE FCU / CMF by 11.30.2012 to receive a $350 credit to your closing costs. Funded loan must be for a qualified SCE FCU member for a new home loan or refinance. The rebate will be applied as a credit toward closing costs. Limited- time offer. All loans are subject to credit approval. branch locations & hours savings & loan rates All share rates quoted below are Annual Percentage Yields as of March 30, 2012 and are subject to change without notice. Contact the Credit Union for additional information on applicable fees and terms, special promotions, and other accounts we offer. Corporate Office PO Box 8017, El Monte CA 91734 scefcu.org • 800.866.6474 checking & saving FastLine Automated Voice Response Green Checking 0.50%. Also available: Free Checking (non-dividend) & Youth Checking 800.866.6575 Prime Savings 0.10% ($5 min. to open) southern california Super Saver 0.25% ($5 min. to open) Irwindale Youth Super Saver 0.25% 12701 Schabarum Ave Holiday & Vacation Club Accounts 0.30% ($10 min. to open) M T Th F: 8am to 6pm W: 9am to 6pm • Sa: 9am to 1pm Money Market1 0.20% - 0.65% Duarte 1175 Huntington Dr IRAs & Certificates2 M T Th: 9am to 5pm • W: 10am to 5pm 91 Days 0.25% - 0.50% 18 Months 0.60% - 0.85% 48 Months 1.35% - 1.59% F: 9am to 6pm • Sa: 9am to 1pm 6 Months 0.35% - 0.60% 24 Months 0.70% - 0.95% 60 Months 1.75% - 1.99% Lynwood (Plaza Mexico) 12 Months 0.50% - 0.75% 36 Months 0.90% - 1.15% 3200 Mulford Ave M T Th: 9am to 5pm • W: 10am to 5pm F: 9am to 6pm • Sa: 9am to 1pm Ontario loans 975 N Haven Ave All loan rates quoted below are Annual Percentage Rates as of March 30, 2012 and are subject to change without notice. Rate and finance amount is based on member loan qualifications, and vehicle or property value as applicable. M T Th: 9am to 5pm • W: 10am to 5pm F: 9am to 6pm • Sa: 9am to 1pm New & Used Auto Loans3 As low as 1.00% - 18.00% (Daily Periodic Rate 0.002740% - 0.049315%) Rosemead (GO) Edison employees only Approximate terms from 1 - 8 years GO1, 1st Floor Classic Auto Loans3 As low as 1.50% - 18.00% (Daily Periodic Rate 0.004110% - 0.049315%) M T Th F: 9am to 5pm • W: 10am to 5pm Approximate terms from 1 - 7 years San Onofre (SONGS) Edison employees only New & Used RVs, Travel Trailers, As low as 3.25% - 18.00% (Daily Periodic Rate 0.008904% - 0.049315%) D1A, Plant Side 5th-Wheels, Motorcycles, Boats, Approximate terms from 2 - 12 years M T W F: 7:30am to 3:30pm Personal Watercrafts & Off-Road Recreational Vehicle Loans3 Th: 7:30am to 12pm; 1pm to 4pm by appointment Personal Lines of Credit3 Adjustable rates from 12.50% - 18.00% (Daily Periodic Rate 0.034246% - 0.049315%) southern nevada Sahara (Las Vegas) Visa Platinum4 10.00% - 18.00% variable. This APR will vary based on the Prime Rate. 6475 W Sahara Ave M: 10am to 5:30pm • T W: 9am to 5:30pm Visa Platinum Rewards No annual fee 4 11.00% - 18.00% variable. This APR will vary based on the Prime Rate. Includes points program toward travel and gifts Th F: 9am to 6pm Drive Up Window - M T W 7:30am to 5:30pm Th F 7:30am to 6pm Home Equity Loans3,5 Fixed rates from 5.50% - 10.50% Henderson Home Equity Lines of Credit5 Adjustable rates as low as 4.00% 1450 Horizon Ridge Pkwy #C102 Home Equity Split Second Set up part at a fixed rate and part as an adjustable-rate line of credit M - F: 9am to 5:30pm First Trust Deed Loans 6 Buy or refinance your home with a fixed or variable rate loan program. Choose Southwest (Las Vegas) from a variety of rates, terms and fee structures. Call us or visit our website for 7155 S Lindel Rd #150 more information. M - F: 6am to 3pm Ryan (North Las Vegas) 2215 E Lone Mountain Rd #100 M - F: 6am to 3pm business solutions We offer a full suite of business products and services including several checking options, money market, certificates, loans, lines of credit and Visa cards, and merchant services. We are an approved SBA Lender. holiday closings Memorial Day – May 28th Independence Day – July 4th You can access your accounts 24/7 with your ATM card, online at scefcu.org or by calling our FastLine 1 Dividends are calculated on the Daily Balance Method for all accounts. Rate will change if you move in or out of a deposit tier. 2$1,000 minimum balance to open. Penalty for automated voice response system at 800.866.6575. early withdrawal may be imposed. Dividends compound monthly for all terms except the 91-day term, which compounds at maturity. The Annual Percentage Yield is based on the assumption that the minimum balance requirements will be met. Highest yields shown reflect higher total deposit balances. 3All loan rates quoted are annual percentage rates and require electronic repayment. 4We add between 6.75% to 14.75% to the Prime Rate to determine the APR, and electronic repayment discounts do not apply, 5Prime Rate of 3.25% as of 3.23.11 plus a margin that ranges from 0%-5% Prime Rate plus applicable margin and loan to value equals the rate. Floor rates range from 4%-8% Processing fees may be discounted with a minimum initial advance of $10,000. If loan is paid and closed within 24 months, waived fees will be reinstated. Lifetime cap is 6% above the CU stats as of February 29, 2012 fully indexed rate. Rate changes occur semi-annually with an annual cap of 2%. Rate and terms are subject to change without notice. Property must be in California. Borrower of non-owner occupied property loans pay all fees. Standard processing fees can range from $100-$1,200 based on transaction type and amount. Subordination fee is $125. Demand fee is $35. Annual Fee of $50 if balance is less than $10,000 on June 30 of each year. Mutual Rate modification Fee is 1% of limit. Sample payment on a $50,000 fixed Members: 45,201 rate Home Equity Loan for 20 years at 5.50% APR would be $345 per month. Minimum payment on Home Equity Line of Credit is 1% of the balance on loans at 11% or less or 1.25% of balance on loans above 11%-15%. Jumbo Equity Loans above $250,000 available at special rates. Call us for details. A full appraisal may be required at the borrower’s Assets: $567,486,950 expense. 6Electronic repayment discounts do not apply. Mortgage loans may not currently be available in Nevada. Serving members since 1952 We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account will be reflected in your credit report. In the event of a disaster, if you’re unable to reach us by phone, visit our website at scefcu.org for information on how to We do business in accordance with the Federal access your accounts. Rest assured, we have plans in place to allow us to continue to serve you. Fair Housing Law and the Federal Credit EQUAL HOUSING LENDER Opportunity Act. Federally insured by NCUA.
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